Global Haptic Technology Market Analysis by Recent Developments and Business Outlook 2022-2030

According to a new market research report published by Inkwood Research, the Global Haptic Technology Market is estimated to register a CAGR of 14.44% during the forecasting years of 2020-2028.
''Browse 43 Market Data Tables and 46 Figures spread over 143 Pages, along with an in-depth TOC on the Global Haptic Technology Market Forecast 2020-2028.''

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Haptic technology allows physical interaction with the virtual environment. It allows the user to sense and manipulate three-dimensional virtual objects concerning features such as shape, weight, surface texture, and temperature. A haptic device is used to create manual contact between the user and the computer. A user can not only feed information but also receive it in the form of a sensation with the help of a haptic device from the computer. Haptics enriches the user experience by engaging the user's senses. For instance, when a user selects a virtual button in a shooter game, he or she can sense the embedded haptic technology. The recent applications of haptic technology are tablets, gaming devices, personal computers, smartphones, home appliances, and others.

Increasing Adoption of Haptics in Consumer Electronics Devices Propels Market Growth
The growing use of consumer electronic devices such as smartphones, tablets, and other wearable devices is one of the significant factors propelling the market. Nearly, all the smartphones and tablets are inbuilt with the haptics, and the trend is moving towards smartwatches and wrist bands. Haptics feedback acts as a powerful tool in wearable devices owing to their smaller displays, contrary to the larger displays of smartphones and tablets. These wearables include wrist bands, fitness trackers, smartwatches, smart jewelry, and connected home products that are user friendly and have better battery life. Other consumer products that use haptics include personal navigation devices, digital cameras, printers, portable media players, and white goods, which are appliances and systems used at home.
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Tactile Records the Highest CAGR in the Market by Feedback Type Segment
Tactile sensing includes feelings of texture, pressure, wetness, softness, thermal properties, friction-induced phenomena such as slip and adhesion, and also local features of objects such as edges, shape, and recessed features. The tactile system occupies the central nervous system and also the peripheral nervous system. There are different kinds of receptors that enable tactile sensations in skin and internal tissues. Tactile sensing works on the principle of tactile feedback. It includes devices that are used to indicate whether the user is in contact with a virtual object. Tactile technology is mainly used in consumer electronic devices such as smartphones and tablets that are integrated with a touch screen.

Europe is Anticipated to Record the Highest CAGR
The presence of one of the large automotive and consumer electronics industries is one of the several factors driving the European haptic technology market. The significant markets of haptic technology in Europe are Germany, France, and the UK. Drivers such as reviving economic conditions, high per capita income, and improved standard of living of people have contributed to the growth of the market.
Immersion is the only global vendor providing haptics for products that incorporate the technology, and is the only vendor that has successfully partnered with automotive OEMs and component suppliers. This has further resulted in the restriction of entry of other vendors into the market. Some of the other leading players besides Immersion Corporation operating in the market are 3D Systems Corporation, Force Dimension, Densitron Technologies, Haption S.A., Johnson Electric Holdings Limited, etc.

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