Touchscreen Gloves Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2016 - 2023
Dover, DE -- (SBWIRE) -- 05/10/2016 -- Global touchscreen gloves market size is likely to demonstrate substantial growth prospects from 2016 to 2023.
U.S. gloves and mittens market size surpassed USD 150 million in 2015. Innovation in these garments in order to make them compatible with displays enables easy device operation.
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Surging implementation of touchscreen equipment at home as well as in the workplace is forecast to fuel touchscreen gloves market demand over the forecast period. High compatibility with capacitive as well as resistive displays is projected to further propel demand from 2016 to 2023. Global touchscreen market size is forecast to exhibit over 5% CAGR, primarily due to significant capacitive technology demand. Other drivers include increasing consumer spending, lowered price point, and product innovation.
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Asia Pacific touchscreen gloves market share is projected to benefit from high smartphone demand as well as growing replacement consumption. Regional smartphone shipments will increase at a compound annual growth rate of over 8.5% over the next few years. U.S. touchscreen gloves market is also characterized by consumers replacing their smartphones and associated devices, which is anticipated to boost adoption.
In order to improve conductivity, these materials are embedded or coated with various conductive elements such as gold, silver, copper and carbon. Canada based Nanotips offers a liquid solution that renders any material touch friendly.
Rising demand for comfort as well as high functionality is predicted to propel the touchscreen gloves market size over the next seven years. As these products offer high flexibility as well as comfort, they are now widely used in executing a range of tasks across numerous industry sectors. In addition, they offer high level safety even in harsh or extreme conditions.
Product availability in a variety of materials, sizes, as well as colors present addressable market opportunity. The garment senses the conductive properties from the human skin and directs the small electrical signals from the finger tips to the screen. This facilitates users to type as well as browse through the device with high convenience and also make calls through the device effortlessly and quickly.
Raw materials employed include wool, latex, rubber, nylon and leather. Introduction of double layered gloves is expected to positively impact the demand as it offers better grip and high warmth.
High touchscreen gloves market price trend is likely to hamper demand over the short term. Low degree of awareness coupled with usage dependency on climatic conditions is also forecast to negatively impact consumption.
Spandex is one of the most commonly used materials owing to its fit quality. Unlike traditional products, these have anti-pilling system that protects the touchscreen and also keeps gloves flexible, soft as well as durable. Certain products exhibit as much as 99% of antibacterial properties owing to the presence of silver. Furthermore, the high density texture aids in keeping hands warm and comfortable.
While the present user group is corporate professionals and individuals that spend time outdoors, use cases are forecast to expand to military, construction, and transportation sectors.
Key participants in the touchscreen gloves market include Outdoor Research, UR Powered, Mujjo, The North Face, UGG, Coach, Marmot, J. Crew, and Allen Edmonds. Other prominent partners include iTap, Glove.ly, Etre, Zensah, Timberland, OJIA, and Newer Technology (NewerTech).
Pricing varies on the basis of product sophistication; for example, iTap products are composed of stretchy yarns that are an off-the-shelf affordable offering. The North Face offers ten-finger conductivity and connector snaps.
New product development to make them suitable for smaller screens is among strategic growth initiatives. Companies are also focusing on industry expansion by catering to a different demographic through the visual characteristics and materials used in the product.
Product designers study parameters including tablets, phones, and other wearable technology demand. In 2014, Fownes Brothers & Co. acquired Tabar Inc. for their performance hardware portfolio. Industry participants aim at optimizing functionality and comfort to provide a seamless user experience.