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Haptic Technology Market Size & Share, Growth, Industry Analysis, Forecast 2027

09-13-2021 07:33 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Valuates Reports

Haptic Technology Market Size & Share, Growth, Industry

The global Haptic Technology market size is projected to reach US$ 25240 million by 2027, from US$ 9487 million in 2020, at a CAGR of 14.5% during 2021-2027. The increasing integration of haptics into consumer items is a major factor driving the growth of the Haptic Technology market. Furthermore, as haptic technology becomes more widely used in automotive safety applications, demand will rise in the near future. Various academic institutes and company R&D divisions have been focusing on improving haptic systems and developing unique haptic applications.

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The haptic technology market is predicted to develop due to technological advancements in haptics. Previously limited to smartphones, tablets, and other consumer electronics, haptic technology is increasingly being employed in new domains such as education and robotics. In robotics, robot operators use haptic devices such as gloves to control a robotic hand or other end effectors with precision. While sitting kilometers away from the manufacturing floor, robot operators can use haptic gloves to accurately direct the robot arms.

Haptic Technology Market Share Analysis
Consumer electronics is predicted to be the most profitable segment over the forecast period, based on application. This is due to the growing popularity of consumer electronics such as smartphones, tablets, and other wearable devices. Almost all smartphones and tablets now have haptics, and the trend is spreading to smartwatches and wristbands.

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During the forecast period, the APAC area is expected to be the most profitable. Rising disposable income has increased the usage of consumer goods, which is one of the key driving reasons for market expansion. Many of the world's largest smartphone manufacturers, including Huawei, Oppo, Vivo, Xiaomi, and OnePlus, are headquartered in China, making it the most dominant country in the region.

Haptic Technology Market by Type

o Tactile Feedback
o Force Feedback

Haptic Technology Market by Application

o Automotive & Transportation
o Consumer Electronics
o Healthcare
o Gaming
o Engineering

Major Players in the Haptic Technology Market

o Immersion
o Texas Instruments
o Precision Microdrives
o Johnson Electric Holdings
o Ultrahaptics
o Microchip Technologies
o Synaptics
o Haption
o Senseg
o Geomagic
o Force Dimension

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