The smart wearable gloves market, which is segmented based on its components has witnessed sensors as the rapidly-growing segment in the recent years. Sensors in these devices are used to sense the finger movements to translate data and receive commands for performing actions. The sensors provide benefits such as the detection of movements, efficient digital translation, and save time to interpret the data by manual applications. Microcontrollers segment in the smart wearable gloves industry is expected to grow steadily over the forecast years due to activity-control and signal-detection benefits. These components act as processors for the systems to transmit data and obtain accurate results.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Blue Infusion Technology
- Samsung Electronics
- Maze Exclusive
- Seekas Technology Co., Ltd.
- Vandrico Solutions, Inc.
- Lab Brothers LLC
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The high cost of these products is a major factor hindering the smart wearable gloves market growth. The price involved in manufacturing these gloves is high due to the incorporation of expensive sensors, scanning, and recognition components. High manufacturing and supply costs eventually increase the product price, making it unaffordable to customers with less investments. Unawareness about the benefits provided by these wearables in the industrial and manufacturing applications is also restraining the industry demand.
Technical errors occurring in the devices at critical times, such as failure in medical emergencies, are hindering the popularity of the smart wearable gloves market. These problems can be solved by manufacturing efficient wearables capable of supporting human functions along with providing security and safety. The smart wearable gloves industry faces challenges such as the inability of people to handle these devices for performing recognition and translation functions to aid the visually and hearing-impaired people.
The U.S. smart wearable gloves market has witnessed the highest revenue and growth shares owing to the early advancements in the industrial sector and high investment capabilities of manufacturers to incorporate such devices. High labor costs and increasing logistics activities in all industry segments are fueling the industry demand.
India, China, and South Korea are expected to cover large profit shares due to growing digitization, a rapid increase in the use of smartphones and wireless connectivity. Government mandates related to automation and robotics in the industrial sector are driving factors for the smart wearable gloves market.
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Players operating in the smart wearable gloves market include NEOFECT, ProGlove, Blue Infusion Technology, Apple Inc., Samsung Electronics Co., Ltd., Maze Exclusive, Seekas Technology Co., Ltd., Vandrico Solutions, Inc., Motorola, Lab Brothers LLC, and Huawei. Some strategies adopted by these players in the smart wearable gloves industry are new product developments or innovations, mergers, acquisitions, partnerships, and collaborations to provide technically-advanced products and enhance the customer experience. For instance, in January 2017, NEOFECT announced the launch of its Rapael’s smart glove that is used for rehabilitation sessions for stroke patients. The product is a Bluetooth glove packed with sensors to measure finger and wrist movements.