Key Factors Contributing Towards Growth of the Haptic and Touch Technology Market During 2016 - 2024
Haptic technology is a mechanical simulation that uses different motion, forces, and vibration to create the sense of touch in numerous electronic devices. The haptic and touch screen technology market has observed a noteworthy growth due to its application in controllers, joysticks, steering wheels, and future video games. It helps in improving the user experience by engaging light, sound, and touch.
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Based on feedback, the global market for haptic and touch technology can be segmented into tactile and force. In terms of components, the market can be classified into controllers, actuators, and others. On the basis of end user industry, the global haptic technology market can be categorized into consumer electronics, aerospace & defense, automotive, healthcare, and others.
In the report, Transparency Market Report (TMR) offers a complete analysis of challenges and prospects in the global haptic and touch technology market. It also provides insight into the major segments and regions of the market.
Global Haptic and Touch Technology Market: Trends and Prospects
The primary drivers for the growth of the global haptic and touch technology market are rising requirements for product differentiation and growing application of touch screen technology in numerous consumer electronic goods such as in digital cameras, mobile devices, and other devices. In addition, increasing concern for driver and passenger safety in vehicles is supplementing the demand for haptic and touch technology. Fast changing technology and high cost are the crucial factors that might pose as a threat to the growth of the global haptic and touch technology market.
On the basis of feedback, the tactile segment will hold a large share of the market, and is expected to drive the market in the forecast period. The demand for this segment is high due to its varied application in consumer electronic devices such as smartphones and tablets. Presently, tactile feedback is inbuilt in practically all smartphones and tablets, and even wearable devices such as wristbands and smartwatches are slowly adopting this technology. In addition, the growth can be attributed to rising demand in several applications such as healthcare, automotive, and gaming.
In terms of end user industry, the education & research segment is pegged to grow over the said period. Due to increased incorporation of haptics into AR & VR devices, the education sector has boosted the demand for haptic and touch technology. With the aid of haptics, learning and teaching would relatively become easier as the students will get a hands-on experience of haptics, and will further help in understanding and improving their skills.
Global Haptic and Touch Technology Market: Regional Analysis
Europe, Asia Pacific, North America, and Rest of the World are the geographical segments on which the market can be based upon. Due to remarkable increase in demand for smartphones and tablets, Asia Pacific is expected to lead the market. In the forecast period, this region is predicted to register a strong CAGR. Whereas, high application in end user industry such as defense, automobile and healthcare, North America and Europe will contribute largely to the market share during the said period.
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Companies Mentioned in Report
Immersion Corp, Precision Microdrives Ltd, AAC Technologies Holdings, Inc., Tactus Technology Inc., Haption SA, Johnson Electric Group, Maxim Integrated Products, Inc., Immersion Corp, Texas Instruments, Incorporated, Densitron Technologies Plc, and 3D systems are some of the prominent players in the global haptic and touch technology market.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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