Haptic Technology Market Covid-19 Effect | Global Key Players: Immersion Corporation, Texas Instruments Incorporated, Ultrahaptics, Haption S.A., ON Semiconductor Corporation, Johnson Electric, SMK Corporation, Microchip Technologies Incorporated, Synapti

Global Haptic Technology Market, By Component (Actuators, Drivers & Controllers, Software) By Feedback (Tactile, Force) and Application (Consumer Electronics, Research & Education, Gaming, Healthcare, Engineering) - Forecast 2023

Market Overview
Haptic means to touch, which is derived from the Greek word ‘haptesthai’. Haptic is a blend of tactile information and kinesthetic information. Tactile information is the information that is collected by sensors connected to the body and kinesthetic information refers to the information collected through the use of sensors on joints. Haptic technology is used to recreate the sense of touch through the application of forces to it such as motion and vibration.it aids in the creation of virtual objects and controlling them in computer simulation. Haptic devices have integrated tactile devices that aid in the measurement of the force exerted by users. Further, haptics also has an enhanced user interface, elevating the user experience to a whole new level.

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The global haptic market is anticipated to witness fast-paced growth over the forecast period, as per the latest analysis by Market Research Future (MRFR). Several factors are responsible for the ascension of the haptic technology market. accelerated adoption of haptics technology in consumer electronics such as tablets, gaming consoles, and mobile phones is complementing market growth. The global haptic technology market is likely to exhibit a CAGR of 16% over the forecast period.

Key Players
Some of the notable players in the haptics technology market, as profiled in the latest MRFR analysis include 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.), and Force Dimension (Switzerland).

Market Segmentation
The global haptic technology market is studied for different segments to gain a deeper insight into the functioning of the market. Such market segmentation is carried out on the basis of feedback, application, and component. On the basis of components, the global haptics market is segmented into software, drivers, and actuators. Among these segments, the software segment is expected to hold the largest share of the global haptics technology market over the forecast period.
Based on application, the global haptic technology market is segmented into education & research, healthcare, gaming, consumer electronics, automotive and transportation, and engineering. Among these market segments, the healthcare segment is estimated to garner the highest share of the market during the forecast period. This can be accredited to the growing application of haptics technology in the medical and healthcare sector. Tactile imaging aids in the translation of the sense of touch into a digital image which is very beneficial in several clinical application.
On the basis of feedback, the haptics technology market is segmented into tactile and force.

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Detailed Regional Analysis
The Haptic Technology Market is segmented into the regions of Europe, North America, Asia Pacific (APAC), and the Rest of the World (RoW). Within these regional segments, North America is anticipated to ascend at a faster pace, as compared to other regional segments. North America is also estimated to witness the highest CAGR for haptics technology over the review period. The US and Canada are anticipated to lead the country-specific market for haptics technology in the region during the estimated period. Such domination can be ascribed to the existence of a large number of players in the market who are established in haptics technology solutions. Additionally, the region also boasts a well-established infrastructure which enables easier integration of advanced technologies in the region and allows a higher rate of penetration of advanced devices, providing high-speed connectivity. Moreover, elevation in the demand for consumer electronic products is another factor fueling market growth.
Within Europe, Germany, France, and the UK are estimated to rule the regional haptics technology market through the forecast period. Growing demand for smartphones is a primary factor causative of impressive market growth. Further, the presence of advanced infrastructure and proliferation in adoption of latest technologies are other factors contributing to the upscaling haptics technology market.

Industry Update
August 2019: Immersion Corporation recently signed a license agreement with Awinic Technology Ltd to develop Immersion haptic patent and technology licenses available to wearable OEMs and mobile phones through Awinic.

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
Continued……

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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 (%)
Continued…….

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