According to the new market research report by IndustryARC titled “Haptics Technology Market By Feedback Type (Force, Tactile); By Components (Actuator, Haptic Drive, Microcontroller andOthers); By Application (Consumer, Medical, Automotive and Others) and By Geography – Forecast 2018 -2023”, the market is driven by the growing need for innovative product designs and robust designing platforms.
Asia Pacific dominates the Haptics Technology Market
Asia Pacific will dominate the Haptics Technology Market during the forecast period. It is expected to reach $27.74 billion at a CAGR of 22.2% by 2023. This is due to the increasing demand for consumer electronics and medical equipment in countries such as China and India. Haptic technology is used for applications such as surgical simulation, medical training, physical rehabilitation, visualization and gaming in Asia Pacific. In connected car solutions, haptics technology is used for car navigation and can provide touch or force feedback as part of the user interface in vehicles, through the use of vibration motors to improve the usability of vehicles. Large presence of system integrators and OEMS also drive the growth of the Asia Pacific market.
Selected Analysis done in the Haptics Technology Market Report:
The consumer application segment generated a revenue of $8.47 billion in 2015. It is expected to generate a revenue of $45.16 billion by 2023 at a CAGR of 19.5%. Haptic devices include physical contact between a user and a computer. This contact is done using the input or output part of the devices that sense the body movements. The users get the sensation of touch from a virtual object while handling a joystick, data glove or body suit. Haptic technology is applicable for video games, smartphones, robotics, and other touch based electronic devices. The integration of haptic technology in games, enhances the gaming experience and increases the entertainment level for the players.
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Excerpts on Market Growth Factors
- Haptics technology is used in military simulation, especially in army evaluation.
- Enhanced user experience makes haptics technology integrated products personalized.
- Haptics technology is applicable in medical imaging.
- Collaborative research in developing industrial applications drives the growth of the Haptics Technology Market.
Key players of the Haptics Technology Market
Texas instruments dominates the Haptics Technology Market, followed by AAC Technology Holdings and Johnson Electric Holdings Limited. Texas Instruments has launched wireless haptic development kit powered by bluetooth that supports easy tactile feedback prototyping in a wide range of applications, thus providing a more engaging user experience. AAC Technology Holdings manufactures diversified motor products for implementing cost-effective Haptics solutions. Johnson Electric Holdings Limited manufactures and distributes motion components for industrial, automotive, and medical.
Haptics Technology Market is segmented as below
Key applications such as computers, video games, personal computers, and mobile devices drive the demand for Haptics Technology Market.
- Haptics Technology Market By Feedback Type
- Force Feedback
- Tactical Feedback
- Haptics Technology Market By Components
2. Haptics Drive
- Microcontroller and
- Haptics Technology Market By Application
- Haptics Technology Market By Geography (covers 13+ countries)
- Haptics Technology Market Entropy
Companies Citied / Interviewed
- 3D SYSTEMS INC
- HAPTION S.A.
- MAXIM INTEGRATED PRODUCTS INC.
- IMMERSION CORPORATION
- JOHNSON ELECTRIC HOLDINGS LTD
- AAC TECHNOLOGIES HOLDINGS INC
- TEXAS INSTRUMENTS INCORPORATED
- SHENZHEN O-FILM TECH CO. LTD.
- SMK CORPORATION
- PRECISION MICRODRIVES LIMITED
- TACTUS TECHNOLOGY INC.
- Company 15+
What can you expect from the Haptics Technology Market Report?
The Haptics Technology Market Report is Prepared with the Main Agenda to Cover the following 20 points:
- Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
- Market trends & Relevant Market Data 12. Country level Analysis
- Manufacturer Landscape 13. Competitor Analysis
- Distributor Landscape 14. Market Shares Analysis
- Pricing Analysis 15. Value Chain Analysis
- Top 10 End user Analysis 16. Supply Chain Analysis
- Product Benchmarking 17. Strategic Analysis
- Product Developments 18. Current & Future Market Landscape Analysis
- Mergers & Acquisition Analysis 19. Opportunity Analysis
- Patent Analysis 20. Revenue and Volume Analysis
Frequently Asked Questions:
- Does IndustryARC publish country or application based reports in Haptics Technology segment?
Response: Yes, we do have separate reports as mentioned below:
- Americas Haptics Technology Market Analysis (2018-2023)
- Asia Pacific Haptics Technology Market Share (2018-2023)
- Europe Haptics Technology Market Growth (2018-2023)
- Consumer Haptics Technology Market Forecast (2018-2023)
- Medical Haptics Technology Market Share (2018-2023)
- Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
- Increase the level of data in application or end user industry.
- Increase the number of countries in geography chapter.
- Find out market shares for other smaller companies or companies which are of interest to you.
- Company profiles can be requested based on your interest.
- Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.