Haptic is derived from the Greek word “haptesthai” which means to touch. Haptic is a combination of tactile information and kinesthetic information. Tactile information refers to the information acquired by the sensors connected to the body whereas, kinesthetic information refers to the information acquired by the sensors in the joints. Haptic technology deals with recreating the sense of touch by applying forces to it like vibrations or motions. It helps in creating virtual objects and controlling them in computer simulation.
Major factors driving the growth of haptic technology market is the increasing adoption of haptics technology into consumer electronics like mobile phones and tablets, gaming consoles, automotive sector and many others. Haptic devices have integrated tactile devices that measure the force exerted by users. Haptics provides with an enhanced user interface by taking the user experience to a whole new level.
Haptic technology market has been segmented on the basis of component, feedback and application. The component segment is further bifurcated into actuators, drivers and controllers, software and others. Out of which, the software component is expected to grow at the highest CAGR during the forecast period. This owing to the increasing adoption of haptics software in to various applications like gaming, automotive, healthcare, wearables and virtual reality among others.
Global Haptic Technology Market is expected to grow at approx. USD 22 Billion by 2023, at 16% of CAGR between 2018 and 2023.
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Study Objectives of Haptic Technology Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the haptic technology market.
- To provide insights about factors affecting the market growth.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future perspective.
- To provide country level analysis of the market for segmentation on the basis of component, feedback and application.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for haptic technology market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the haptic technology market.
The regional analysis of haptic technology market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that Asia Pacific is estimated to account for the largest share of the market, whereas North America is projected to grow at the fastest rate during the forecast period. The major growth in haptic technology market in Asia Pacific is attributed to technical advancements and increasing demand for mobiles and tablets in that region.
The prominent players in Haptic Technology Market are – Immersion Corporation (U.S.), Texas Instruments Incorporated (U.S.), Ultrahaptics (U.K.), Haption S.A. (France), ON Semiconductor Corporation (U.S.), Johnson Electric (Hong Kong), SMK Corporation (Japan), Microchip Technologies Incorporated (U.S.), Synaptics Incorporated (U.S.), Force Dimension (Switzerland) among others.
Haptic technology market can be segmented on the basis of following:
- Drivers & Controllers
- Consumer Electronics
- Automation & Transportation
- Education & Research
- Haptic technology investors
- Haptic technology solution providers
- Haptic technology-related service providers
- Research/Consultancy firms
- Government and corporate offices
- Venture capitalists, private equity firms, and start-up companies
- Distributors and traders
- Forums, alliances, and associations
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LIST OF TABLES
TABLE 1 HAPTIC TECHNOLOGY MARKET, BY COMPONENT
TABLE 2 HAPTIC TECHNOLOGY MARKET, BY FEEDBACK
TABLE 3 HAPTIC TECHNOLOGY MARKET, BY APPLICATION
TABLE 4 HAPTIC TECHNOLOGY MARKET, BY REGIONS
TABLE 5 NORTH AMERICA HAPTIC TECHNOLOGY MARKET, BY COMPONENT
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 HAPTIC TECHNOLOGY MARKET, BY COMPONENT (%)
FIGURE 3 HAPTIC TECHNOLOGY MARKET, BY FEEDBACK (%)
FIGURE 4 HAPTIC TECHNOLOGY MARKET, BY APPLICATION (%)
FIGURE 5 HAPTIC TECHNOLOGY MARKET, BY REGIONS (%)
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