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Global Haptic Gloves Market is Predictable to Grow at a CAGR of 18.91% over the Forecast Period (2021 – 2029), says Absolute Markets Insights

Published On 10 Jan 2022 10:56 AM


Haptic technology is expected to gain significant adoption in the coming years, predominantly driven by the growth in application of haptic gloves such as virtual gaming, industrial and enterprise level simulation, healthcare and medicine, amongst others. Haptic technology can increase the penetration amongst a wide range of end-users through the use of customizable glove solutions. Furthermore, the costs associated with haptic glove manufacturing, coupled with the ease of use of these products, will determine the growth of the market in coming years. The market participants are increasingly working on developing haptic glove solutions that are affordable to the end-users. Moreover, companies such as Meta (formerly Facebook) are working towards the development of haptic glove products that can be used by consumers, similar to consumer-based virtual reality headset (Oculus). The penetration of haptic glove for consumer applications will help in the growth in revenue in the global haptic gloves market in the future, as the market participants can sell the products to a wider range of audience. The market will also be assisted massively by the growth of the virtual gaming industry.

The COVID-19 pandemic has caused a paradigm shift in operations in industries such as gaming, construction, healthcare, automotive, amongst others. Companies are increasingly moving towards enhancing the performance and safety of their employees by using virtual simulations. Haptic gloves have the ability to provide ample opportunities for multiple simulations, as humans can gauge their performance and understand how the events would turn out using haptic technology.  The ability to sense movements, and the look and feel of objects and surroundings, will enable humans to understand the outcome of an operation, thereby enabling them to react accordingly in pressure situations. This will help in reducing the risks associated with operations in industries such as manufacturing, oil and gas, energy and utilities, mining, amongst others. The pandemic has also caused a boom in the virtual gaming industry, and companies are largely developing haptic gloves that can be used in gaming applications. CaptoGlove Inc., for instance, has developed a haptic glove gaming controller that can be used in both virtual reality and personal computer gaming. Therefore, the haptic gloves market is expected to see a growth in revenue post the pandemic period.

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Reasons for Procuring Report from Absolute Market Insights:

The research report on Global Haptic Gloves Market will include extensive information based on the following pointers:

  • Global Market Size and Forecast Values (2015 – 2029), in terms of revenue (US$ Million) by segments/sub-segments; wherein:
    • 2015 to 2019 - Historic Years
    • 2020 - Base Year
    • 2021 to 2029 - Forecast Period
  • Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
  • Macro-Economic and Micro-Economic Indicators
  • Market Determinants and Influencing Factors
  • Market Dynamics: Global Haptic Gloves Market
    • Drivers
    • Restraints
    • Opportunities
  • Trends on Global Haptic Gloves Market
  • Level of Impact of COVID-19 on the Global Haptic Gloves Market
  • Porter’s Five Forces Analysis
  • Competitor Landscape
    • Product/Solution Benchmarking
    • Market Share Analysis and Positioning, 2020
    • Global Presence and Growth Strategies
  • The final report will include competitive product/solution benchmarking which will include comparison of different products offered by different market participants on the basis of their features and capabilities that will help you to understand their market offerings. Furthermore, for each company, we will provide information regarding the following pointers:
    • Company Details
    • Company Overview
    • Product Offerings
    • Key Developments
    • Financial Analysis
    • Swot Analysis
    • Business Strategies

**We have reports available in different languages including German, Russian, Korean, French, Chinese, Arabic, Spanish, Japanese and other languages**

**We offer the feasibility of customizing the reports specific to regions which will cover exclusive insights on regions and its respective countries (namely North America, Europe, Asia Pacific, Middle East & Africa, Latin America)**

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Key Competitors in the Global Haptic Gloves Market are:

Key Findings:

  • The Asia Pacific region is expected to show the highest growth rate during the forecast years in the global haptic gloves market. The adoption of virtual and PC gaming in countries like Japan, South Korea, India, China, amongst others, coupled with the rise of start-ups in the Asia Pacific region that are focussing on the development of haptic gloves, will aid for the growth in revenue in the Asia Pacific region in the coming years. Moreover, companies in the Asia Pacific region are investing heavily in virtual simulation to raise productivity and ensure the safety of their employees, and haptic gloves have the potential to help them achieve this. These factors will help in the growth of the Asia Pacific haptic gloves market in the coming years.
  • Online sales channels are expected to see significant rise in revenue during the forecast years in the global haptic gloves market. Online sales channels provide flexibility to both the consumers and the market participants, and the market participants can reach a wider range of end-users by tapping online sales channels. Furthermore, the pandemic has accelerated the use of online sales platforms such as Amazon, IndiaMART and Alibaba, amongst others, and the haptic glove manufacturers can increase the adoption of these products by marketing their products on established B2B and B2C online sales platforms, and utilizing their audience base.

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Absolute Markets Insights segmented the global haptic gloves market based on type, distribution channel, application, and region.

Global Haptic Gloves Market Type Outlook (Revenue, USD Million, 2015 - 2029)

  • Eccentric mass rotation (ERM)
  • Linear resonant actuators (LRA)
  • Others

Global Haptic Gloves Market Distribution Channel Outlook (Revenue, USD Million, 2015 - 2029)

  • Online
  • Offline

Global Haptic Gloves Market Application Outlook (Revenue, USD Million, 2015 - 2029)

  • Gaming
  • Automotive
  • Enterprise Training
  • Healthcare
  • Others

Global Haptic Gloves Market Regional Outlook (Revenue, USD Million, 2015 - 2029)

  • North America (U.S., Canada, Mexico, Rest of North America)
  • Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
  • Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
  • Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
  • Latin America (Brazil, Argentina, Rest of Latin America) 

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Press Release Provided By: Absolute Markets Insights