Global Haptic Technology Market vaticinated to be worth US $ 22 bn by 2023 due to increasing adoption of Haptic Technology in various sectors
Haptic technology or kinesthetic communication can recreate the sense of touch by applying vibrations or motions to the user. It helps to create virtual objects and control them in a computer simulation. Market Research Future (MRFR) has published a research report on the global haptic technology market that vaticinates boost for this market at 16% CAGR (Compound Annual Growth Rate) between 2017 and 2023. By value, the market has been figured to be worth the US $ 22 bn by the end of the forecast period.
Analyzing the market structure, this report forecasts the future growth potential of the market. It monitors the plans of the key market players and supports the competitive developments like new product developments, joint ventures, mergers & acquisitions, research and developments (R&D) in the market.
The factor most influential for the global haptic technology market growth is increasing adoption of haptics technology into the consumer electronics sector, gaming consoles, and the automotive sector. Haptic devices have integrated tactile devices that can measure the exertion of force by the users. The enhanced user interface (UI) provided by Haptics technology enhances the user experience.
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The global haptic technology market segmentation segments the market on the basis of application, components, feedback, lastly, region. The application-based segmentation segments this market into automation & transportation, consumer electronics, education & research, engineering, gaming, healthcare, and others. Based on components, the market is being segmented into actuators, drivers & controllers, software, and others. In the context of feedback, the market has been segmented into tactile and force.
The regional segmentation of the global haptic technology market can segment the market into regional markets known as Asia Pacific, Europe, North America, and the rest of the world (RoW). During the forecast period, the largest market share in the global market can be held by the Asia Pacific region due to technical advancements in countries like Japan and India. The market can also grow due to increasing demand for mobiles and tablets in this region, especially in countries like China, that have a high density of population.
The key players in the global Haptic Technology Market include Force Dimension (Switzerland), Haption S.A. (France), Immersion Corporation (USA), Johnson Electric (Hong Kong), Microchip Technologies Incorporated (USA), ON Semiconductor Corporation (USA), SMK Corporation (Japan), Synaptics Incorporated (USA), Texas Instruments Incorporated (USA), and Ultrahaptics (UK).
North America can rise the fastest growing regional market due to strong information technology (IT) infrastructure in USA and Canada, good internet facilities, presence of many key market players, and more number of smartphone users.
In Europe, the market is growing due to the reasons same as in North America. The population makes this region an important regional market, but this market is smaller than North America due to being as technology advanced as North America is. The esteemed country-specific markets in this region are France, Germany, and the UK.
Latest Industry News
Researcher Tapomayukh Bhattacharjee from the university‘s Robotics Lab in Seattle has developed a robot that can feed people who cannot feed themselves. This robot can help many physically disabled people. 17 APR 2019
Using 4D technology, some movie theaters in the USA are using haptic vests to enhance the viewing experience of the audience. 4 APR 2019
Krispian Lawerence from the University of Michigan and his MIT friend Anirudh Sharma have developed a wearable technology the form of world’s first haptic technology footwear ‘Le Chal’ (translating take me) that can help the visually impaired users navigate with the help of high-end sensors and vibration motors that have been embedded inside the pods of soles. The pods guide the wearer in the right direction. 21 MAR 2019
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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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