According to Stratistics MRC, the Global Haptics Technology Market is accounted for $9.50 billion in 2017 and is expected to reach $42.36 billion by 2026 growing at a CAGR of 18.1% during the forecast period.
Some of the key players in Haptics Technology market include Texas Instruments, Inc, Johnson Electric Holdings Ltd., Haption S.A., Microchip Technologies, Inc., On Semiconductor Corporation, SMK Corporation, Synaptics Incorporated, Imagis Co., Ltd., Immersion Corporation, Force Dimension, Ultrahaptics, Geomagic, Inc., Senseg Oy and Precision Microdrives Ltd.
Some of the key drivers of the market include rising demand for haptics in gaming consoles and growing implementation of haptics in consumer electronic devices are fuelling the market growth. In addition, the use of haptics technology in the medical sector by doctors for training purpose in various surgical procedures is the major driving factor for market growth. However, high power consumption and high cost are inhibiting market growth. Developing haptic and touch technology to improve the efficiency of medical simulations for invasive procedure represents a good opportunity for manufacturers.
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Haptic technology provides an enhanced multi-modal experience to the user by attractive touch, sight and sound. This technology is more and more used in customer’s electronics such as tablets and smartphones as it delivers tactile feedback to its users. The usage of Haptics technology in joysticks, controllers and steering wheels and future video games enhances the user experience by engaging sound, light and touch which allows the users to feel and influence the virtual avatars and tools by incorporating Haptics into a virtual world. It involves physical contact between the computer and the user. By using haptic devices, the user can not only supply information to the computer but can receive information from the computer.
By Feedback, Tactile feedback segment accounted for the largest market share in the global market due to its applications in customer electronic devices such as smartphones and tablets. Nearly all the smartphones and tablets are inbuilt with tactile feedback and the trend has been changing to wearable devices such as smartwatches and wristbands. In addition, it is driven by the rising demand in numerous applications such as gaming, automotive, and healthcare.
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By Geography, Asia Pacific commanded the largest market share due to most of the customer’s electronics are manufactured in this region. In addition, several automotive OEMs and medical device manufacturers are integrating haptics into their products which would augment the market.
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- Force Feedback
- Tactile Feedback
- Drivers & Controllers
- Other Components
- Education & Research
- Automotive & Transportation
- Consumer Electronics
- POS & kiosks
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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