Haptic Technology Market 2023-2028 Size, Share, Growth, Analysis, Trends and Forecast

IMARC Group, a leading market research company, has recently releases report titled "Haptic Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global haptic technology market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the haptic technology market?
The global haptic technology market size reached US$ 9.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.5 Billion by 2028, exhibiting a growth rate (CAGR) of 11.9% during 2023-2028.

What is haptic technology?
Haptic technology uses virtual and mixed-reality solutions that utilize the senses of sight, sound, and touch to create a multi-modal user experience. It uses sensors to measure physical feedback and pressure sensitivity as an interface between users and connected devices, such as smartphones and tablets. It is commonly used in joysticks, controllers, and steering wheels to enhance the user experience in video games. At present, haptic technology finds extensive applications in surgical equipment, wearable devices, remote-controlled machines, and telerobots to improve their efficiency across the globe.

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What are the growth prospects and trends in the haptic technology industry?
The global haptic technology market is primarily driven by increasing product adoption to improve the scalability of devices. Moreover, the rising use of haptic technology in smartphones, tablets, home appliances, and virtual interfaces to enhance the sound, touch, and visual effects of products while improving operational efficiencies and designs is positively influencing market growth. Additionally, the increasing utilization of haptic technology in gaming applications has catalyzed market growth. Furthermore, the widespread adoption of 3D touchscreen displays in automobiles and medical electronics is contributing to market growth. Other factors, including the development of efficient tools and devices for visually impaired individuals, the proliferation of haptics in robotics, and rapid growth in the consumer electronics industry, are also anticipated to drive the market further.

What is included in market segmentation?
The report has segmented the market into the following categories:

Breakup by Component:

Actuators
Drivers and Controllers
Software
Others

Breakup by Feedback:

Tactile
Force

Breakup by Technology:

Captive
Resistive
Others

Breakup by Application:

Automotive and Transportation
Consumer Electronics
Education and Research
Gaming
Healthcare
Engineering
Others

Breakup by Region:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Who are the key players operating in the industry?
The report covers the major market players including:

3d Systems Corporation
Haption
Immersion Corporation
Johnson Electric Holdings Limited
Microchip Technology Inc.
ON Semiconductor Corporation
Precision Microdrives Ltd.
Senseg Oy (O-film Global HK Trading Limited)
SMK Corporation
Synaptics Incorporated
Tactus Technology Inc.
Texas Instruments Incorporated
Ultrahaptics

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