Unlocking the Power of Touch: Exploring the Latest Trends and Innovations in Haptic Technology

The Global Haptic Technology Market Size is estimated to be worth USD 3.9 billion in 2022 and is projected to reach USD 5.0 billion by 2028, at a CAGR of 3.7% during the forecast period.

Rising integration of haptic technology into consumer devices, growing use of haptic technology in automotive industry, and increasing use of haptics in the healthcare industry are some of the major factors contributing to the haptic technology industry growth.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=443

Driver: Rising integration of haptic technology into consumer devices

Haptics is widely used in consumer devices to enhance the sensation, performance, and overall contribution of achieving touchscreen accuracy. The growing use of consumer devices such as wearables, smartphones, tablets, smart homes, and virtual reality hardware is a major factor contributing to the market's growth. As most consumer devices are touch-enabled appliances integrated with haptics, the demand for haptic-based solutions is expected to increase significantly in the next five years.

Haptic technology generates efficient and effective controls in a user-friendly format. Moreover, the increasing adoption of haptic technology in the gaming industry is expected to significantly contribute to market growth. For instance, Sony's PlayStation 5 uses haptic effects in its gaming controllers to minimize the gap between human and digital interaction. Similarly, haptic technology is used in smartphones to stimulate a sense of touch through force, vibration, and motion for the end user.

Opportunity: Rising applications of haptic technology in aerospace & defense industry

The adoption of mid-air haptics has increased in several industries, such as aerospace & defense. It is planned to be used in simulated pilot training or virtual reality flight decks to overcome the high cost and inefficiency that most airlines face. Mid-air haptic feedback technology will allow pilots to focus on other operations like monitoring the cockpit displays and other attention-grabbing monitors, even if it means drawing away the pilot's attention from the view out of the window. Besides, haptics also has the potential to improve the safety of the environment, quality of pilot training, and flight experience for the pilot and the passengers.

Haptic feedback can also detect situations based on immersion and intuition, allowing the pilot to understand the aircraft's behavior and performance and implement effective and efficient decisions accordingly. Similarly, haptic technology can save time and money in the defense industry. It also enhances situational awareness, which can benefit the defense industry majorly.

Haptics is required for in-car infotainment systems and touchscreens in with GPS along with accelerator pedals, climate control screens, dashboards, and steering wheels. Therefore, automobile manufacturers are forming partnerships with haptic solutions providers to meet consumer demands. The growing haptic technology deployment in vehicles is a major factor driving the market growth.

Asia Pacific is expected to dominate the haptic technology market from 2023 to 2028. Increasing disposable income and the subsequent increase in the usage of consumer devices, is a major driving factor for market growth in the region. China is home to many leading smartphone manufcaturers such as Huawei, Oppo, Vivo, etc. Furthermore, China is also the largest consumer of devices such as smartphones and tablets. It is also one of the leading manufacturers of passenger cars. Based on OICA's data, passenger vehicle sale in China was 26,082,220 in 2021. The growing trend of using advanced technologies in vehicles, such as infotainment systems and other touchscreen-based devices such as dashboards, and navigation systems is expected to create growth opportunities for haptic technology hardware and software providers in the automotive industry. The growing adoption of haptic technology in consumer devices and automobiles is expected to drive the market's growth in the next 5 years.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=443

The report profiles key players such as Texas Instruments Incorporated (US), Johnson Electric Holdings Limited (China), AAC Technologies (China), TDK Corporation (Japan), Microchip technologies Inc. (US), Immersion (US), Semiconductor Components Industries, LLC (US), Precision Microdrives (UK), and Synaptic Incorporated (US), and ultraleap (UK).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.