Global Virtual Reality Glove Market 2016-2020

Overview of the VR glove market

The VR glove market is anticipated to grow rapidly and will post a CAGR of more than 82% during the forecast period. The increasing preference for enhanced consumer experience will drive the growth prospects for the VR glove market during the forecast period. The use of VR gloves offers a large number of benefits for the users. One of the major factors that fuel the growth prospects for the market is the portability feature of the virtual reality gloves and the incredible experience it offers such as the controlled VR environment from any place. Another factor that drives the market’s growth is the hands-on experience it provides the users in the virtual world, which becomes the closest thing available for real-life simulation. Also, the users get to experience themes like nature, the universe, different countries, and underwater flora without spending a lot of money. Furthermore, these gloves are extensively used in medical institutions and the military and aviation sectors to allow students and trainees to learn more by experiencing virtual objects. Moreover, since the VR gloves are considered to be one of the latest and most innovative technology, they are increasingly gaining traction in the market. Also, with the increasing consumer awareness of the product, the demand for virtual reality gloves is growing in the market.

The growing emergence of smartphone-integrated VR headsets will propel the growth prospects for the market in the coming years. Since headsets can be used as stand-alone devices, they offer benefits such as the portability, untethered characteristic, and ease of use. Also, the increasing growth of the global smartphone market will increase the adoption of smartphones and tablets to bring about an immersive experience in VR gaming.

Competitive landscape and key vendors

The market comprises of a limited number of vendors as it is still in its nascent stage. The market is highly competitive because these vendors continually offer a high range of products with better performance and features. Moreover, the vendors are competing based on factors such as features, content quality, and price. As the vendors adopt more advanced technologies to gain competitive advantages, the competition will intensify in the market. Also, these vendors are investing in planning, designing, developing, manufacturing, and expanding their existing facilities.  Furthermore, the vendors must stay up-to-date with the emerging technologies that could influence the service lines.

Key vendors in this market are -

• CyberGlove
• Manus VR
• GloveOne
• Virtalis

Other prominent vendors in the market include Dexmo, Synertial, and Yost Labs.

Segmentation by technology adopter and analysis of the VR glove market

• Innovators
• Early adopters
• Early majority

As of 2015, the innovator's segment of the market was the fastest growing segment and will continue to grow during the forecast period.  According to Technavio, with the increasing penetration of VR gloves in countries such as Brazil and India, the innovators in the region will highly invest in the technology. This in turn, will have a positive impact on the virtual reality (VR) gloves market size & share.

Segmentation by geography and analysis of the VR glove market

• Americas
• APAC
• EMEA

Based on the VR market forecast report, in terms of geography, the Americas accounted for the maximum market share and will continue to dominate the market in the forthcoming years. With the increasing number of developed countries in the region, the market size of the regions also increases. One of the factors that contributes towards the growth of the market is the increasing adoption of VR gloves in these regions.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global virtual reality (VR) glove market?
• What are the key market trends impacting the growth of the global virtual reality (VR) glove market?
• What are the challenges to market growth?
• Who are the key vendors in the global virtual reality (VR) glove market?
• What are the market opportunities and threats faced by the vendors in the global virtual reality (VR) glove market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global virtual reality (VR) glove market?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

• Global Virtual Reality Content Market 2016-2020
• Global Gaming Market 2016-2020