APAC the regional leader; consumer electronics, healthcare and education industries prime segments; and tactile feedback the top feedback type driving industry revenue to the haptics technology market.
Haptic Technology or Haptics is an electronic technology for recreating the sense of touch through vibrations or forces by the procedure of a feedback to a designated input.
Globally, demand for haptics technology is expected to witness growth in the upcoming future due to the increased application of haptic technology in consumer and healthcare industry as well as due to the increase in consumer demand for enhanced user experience. The major factor restraining the substantial growth of haptics technology is the high cost associated with it.
North America, Europe and Asia Pacific regions are projected to be holding the most significant shares and to have a significant growth in the coming 5-6 years, owing to increasing usage of haptics technology by the healthcare, education/research and consumer markets.
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By Feedback Type:
Tactile feedback haptics technology is noted to be the leading type with the largest market share, driven widely by its applications in consumer electronic devices like tablets or smartphones. This trend has begun to spread into smartwatches and wristbands, which could soon be a convention in the coming few decades.
Consumer electronics, healthcare and education are noted to be the top 3 application types of the global haptics technology market. They are expected to show healthy CAGR during forecast period upto 2022.
Industrial/engineering application follows the list as the next prime contributor to the market; owing to rising integration of haptics into AR & VR devices which have significant demand in the education sector.
Incorporating haptics in education would make teaching and learning easy as the students experience the practical applications of haptics and this helps them in understanding and further improving their skills. Also, many universities across the globe have been doing research on haptics and are also being the source of new companies.
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APAC was suggested to be one of the major regional market for the Haptics Technology Market in the last couple of years. China, Japan and South Korea noted to be the prime countries which drove and are continuing to drive the sales in APAC.
On the other hand, fast growing regions are noted to be Australia, New Zealand, and India.
North America and Europe are another 2 regions in the leaders list. Consumer electronics sector was noted to be the prime driver of North America and Europe, according to IndustryARC.
This market research report on Haptics Technology Market includes detailed analysis and understanding of the global market based on the following 4 deciding factors:
- By Feedback Type: Force and Tactile Feedback
- By Components: Actuators, Haptics Drive, Microcontroller and Others
- By Application: Consumer, Medical, Education, Research, Automotive and Others
- By Geography: The Americas, Europe, APAC and Rest of the World
IndustryARC’s market experts have studied more than 40 top industry players of the Haptics Technology Market with few of them being:
- Precision Microdrives Ltd
- Tactus Technology Inc.
- Haption SA
- 3D Systems Corporation
- Maxim Integrated Products Inc.
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