The new report by Expert Market Research titled, ‘Global Virtual Reality Glove Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the virtual reality glove market, assessing the market based on its segments like type, application, industry, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028) – 53%
The virtual reality (VR) glove industry is driven by the increasing popularity of the virtual reality devices such as headsets, consoles, and simulators, among others, which are propelling its demand in various industries such as gaming, entertainment, and healthcare, among others. The increasing diversification of applications such as extreme environment simulations, driving, and surgeries, among many more is bolstering the growth rate of the VR market during the forecast period. The growing advancements in technologies such as 5G and smartphone controlled devices are indirectly boosting the growth of the VR glove industry. The introduction of different levels of perception and skin conditions with the VR gloves is predicted to elevate the growth of the market during the forecast period.
Virtual Reality Glove Industry Definition and Major Segments
The function of virtual reality gloves is to caption the action motion of your hand and fingers through sensors place over the glove. These sensors provide haptic feedback and let the user perceive virtual surfaces. The introduction of new sensor technologies and motion control features enable the glove to perceive more detailed textures, temperatures, flexibility and other features are aiding the growth of this market by diversifying its applications. The finger tracking technology makes the glove function like an exoskeleton creating a very original sense of touch.
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Based on type, the market is bifurcated into:
Wired
Wireless
Based on application, the market is bifurcated into:
Personal
Commercial
Others
Based on industry, the market is categorised into:
Gaming
Entertainment
Industrial
Defence
Healthcare
Education
Others
The regional markets for the product include:
North America
Europe
The Asia Pacific
Latin America
The Middle East and Africa
Virtual Reality Glove Market Trends
The rising popularity of motion capture technology in the entertainment industry is aiding the growth of the virtual reality glove market. Healthcare and defence industries are using virtual reality devices to simulate extreme environments for training purposes which is significantly augmenting the growth of the virtual reality glove industry. The sensor technologies are advancing to provide better and better sense of reality and the increasing the level of perception to different textures and surfaces. The adaption of different virtual reality devices together especially in the gaming industry is rising in popularity as it is predicted to boost the growth rate of the VR glove market over the forecast period.
Key Market Players
The major players in the market are Manus Machinae BV, Neurodigital Technologies, S.L., Vivoxie S. de R.L. de C.V., Dexta Robotics, and Noitom International Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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