Global Virtual Reality Glove Market 2016-2020
About VR Gloves
VR gloves are the groundbreaking innovation in the field of VR. The technology enables users to touch, feel, and sense objects in the virtual world. Though, a VR glove looks similar to a regular glove, the architecture of an average VR glove includes a motherboard with an integrated sensor fusion, a LED lighting placed on the cover of the motherboard (typically under the logo), a lithium-polymer battery, multiple haptic actuators to simulate touch, and conductive fabric to recognize gesture commands. Apart from these, the glove may also contain adjustable cuff to ensure that it fits the user and breathable fabric to facilitate air circulation.
Technavio’s analysts forecast the global VR glove market to grow at a CAGR of 82.2% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global VR glove market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of VR gloves.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global VR Glove Market 2016-2020
Technavio recognizes the following companies as the key players in the global VR glove market: CyberGlove, Manus VR, GloveOne, and Virtalis
Other Prominent Vendors in the market are: Dexmo, Synertial, and Yost Labs
Commenting on the report, an analyst from Technavio’s team said: “Following 3D, 4D, and 5D, advances in technology in the global VR content market have led to the introduction of 360-degree videos. VR is the new rage in the entertainment sphere and is making its way to various digital arenas. As of 2016, the concept of VR is emerging as one of the mainstream platforms that is leading to the technological transformation of the digital world. As of 2016, tech giants such as Facebook, Sony, and HTC have launched their flagship VR devices such as Oculus Rift, Morpheus, and Vive, respectively. With these companies launching their products, the market is set to see the launch of more new VR devices during the forecast period.”
According to the report, the gaming market is amongst the fastest growing markets in terms of technology adoption. Moreover, gaming being the highest adopter of VR content is supporting the growth of the market. As of 2015, VR gaming accounted for 5% of the global gaming market, and the contribution will increase to 12% by 2020. The share of VR content in the gaming segment is mainly influenced by the emergence and increased adoption of VR headsets and consoles. One of the major trends likely to foster the growth of VR consoles during the forecast period will be the ability to touch virtual objects through VR gloves. This provides an enhanced simulated environment through VR hardware and software. The gloves provide the closest real-life experience. VR uses synchronized sound, sight, and touch with data suites. This has increased the number of gamers who prefer VR over traditional gaming devices. The increasing disposable income and enhanced adaptability with devices are making VR headsets and consoles more and more affordable for consumers.
Further, the report states that technological advances have resulted in a large number of companies coming up with advanced VR headsets. These companies have designed VR headsets that give the users real-life experiences through the virtual world. The increasing popularity of control VR has propelled the growth of the global VR glove market, which provides a control VR environment. However, these gloves are priced very high, and the ASP is going to increase further during the forecast period. As of 2015, the ASP of these gaming gloves was $230 in 2015, which is expected to reach $300 by 2018. Considering the gloves being accessories to a gaming console, the price is high. Due to this, these gloves may not be a viable option for the middle-class population. This hinders the size of the addressable market for VR gloves.
CyberGlove, Manus VR, GloveOne, Virtalis, Dexmo, Synertial, Yost Labs.
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