The major factors influencing the growth of the haptic technology market (drivers, restraints, opportunities, and industry-specific challenges) and strategically analysing micro-markets with respect to the individual growth trends, prospects, and contributions to the total market. The base year considered for the study is 2015 and the market is forecast from 2016 to 2022.

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Browse 65 market data tables and 55 figures spread through 136 pages and in-depth TOC on “Haptic Technology Market - Global Forecast to 2022”

Tactile feedback haptics accounted for the largest market of the haptic technology market in 2015

Tactile feedback haptic technology accounted for the largest market in 2015, driven by its applications in consumer electronic devices such as smartphones and tablets. Almost all the smartphones and tablets are inbuilt with tactile feedback and the trend has been shifting to wearable devices such as smartwatches and wristbands. The market for tactile feedback haptics is also expected to be driven by the increasing demand in several applications such as gaming, automotive, and healthcare, among others.

The haptic technology market is application driven; the market for education & research application is expected to grow at the highest rate during the forecast period

The haptic technology market for the education & research application is expected to grow at the highest rate during the forecast period, followed by the industrial (engineering) application. This growth is attributed to the rising integration of haptics into AR & VR devices which have significant demand in the education sector.

Incorporating haptics in education would make teaching and learning easy as the students experience the practical applications of haptics and this helps them in understanding and further improving their skills. Also, many universities across the globe have been doing research on haptics and are also being the source of new companies. For example, Ultrahaptics (U.K.) has come out of the University of Bristol and has been making progress in developing midair haptics, where vibrations can be felt without touching the display.

The major companies in the haptic technology market that have been included in this report are Immersion Corporation (U.S.), Texas Instruments Incorporated (U.S.), Ultrahaptics (U.K.), Haption S.A. (France), ON Semiconductor Corporation (U.S.), Johnson Electric (Hong Kong), SMK Corporation (Japan), Microchip Technologies Incorporated (U.S.), Synaptics Incorporated (U.S.), Geomagic (U.S.), Force Dimension (Switzerland), Precision Microdrives Ltd. (U.K.), Senseg (Finland), and Imagis Co., Ltd. (South Korea).

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Asia-Pacific accounted for the largest market for haptic technology in 2015

Asia-Pacific accounted for the largest market for haptic technology, followed by North America and Europe, driven by the consumer electronics sector. This growth in the Asia-Pacific region is led by countries such as China, Japan, and South Korea. Other countries in this region such as Australia, New Zealand, and India are expected to create potential growth opportunities for this market during the forecast period because of its high demand in consumer electronic products.

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