Haptic technology market is estimated to exhibit high growth potential during the forecast period owing to rapid adoption of technology and increasing adoption of smartphones and mobile devices. Haptics technology is known to enhance the user experience of a particular device by converting the sense of touch into a digital image.

Major driving factor in the growth of haptic technology market is the increasing adoption of haptics in the consumer electronic devices like tablet and smartphones. Increasing demand for consumer electronics in countries like New Zealand, Australia and India is the major factor driving the growth of haptic technology market. Another factor driving the growth of haptic technology is the growing adoption of haptics in the gaming consoles.

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Haptic technology market has been segmented on the basis of component, feedback and application. The application segment is further bifurcated into consumer electronics, automation & transportation, education & research, gaming, healthcare, engineering and others. Out of which, the consumer electronics segment accounted for the largest market share in the haptic technology market followed by healthcare sector. Today almost all the tablets and smartphones are haptics integrated and now the focus is being shifted to wearable devices and other healthcare devices. The education & research sub segment is expected to grow at the highest CAGR during the forecast period owing to the potential developments in the haptic technology market.

The major factors restraining the growth of haptic technology market are the lack of awareness about the technological advancements. Whereas, price constraint is another major factor that could cause hindrance in the growth of haptic technology market. Owing to the high maintenance costs and technical issues with the product designs, the prices would eventually rise. So this could hamper the growth of haptic technology market.

According to Market Research Future Analysis, Haptic Technology Market has been valued at approx. USD 22 Billion by the end of forecast period with 16% of CAGR during forecast period 2018 to 2023.

Market Research Future (MRFR) recognizes the following companies as the key players in the haptic technology market – 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.), Force Dimension (Switzerland), among others.

Regional Analysis:
The regional analysis of haptic technology market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that Asia Pacific is estimated to account for the largest share of the market, whereas North America is projected to grow at the fastest rate during the forecast period. The major growth in haptic technology market in Asia Pacific is attributed to technical advancements and increasing demand for mobiles and tablets in that region.

Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
Haptic technology market can be segmented on the basis of component, feedback and application. The feedback segment is further bifurcated into tactile and force sub segments. Out of which, the tactile feedback sub segment accounted for the largest market share owing to its growing number of applications in consumer electronics segment. Nowadays, all the smartphones and tablets are integrated with tactile haptic feedback technology and the focus is being shifted to wearable devices like smart watches and wrist bands. Most common applications of haptic feedback are the racing video games and the arcade games. It makes use of common haptic devices like joy sticks, steering wheels and game controllers.

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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

LIST OF TABLES
TABLE 1 HAPTIC TECHNOLOGY MARKET, BY COMPONENT
TABLE 2 HAPTIC TECHNOLOGY MARKET, BY FEEDBACK
TABLE 3 HAPTIC TECHNOLOGY MARKET, BY APPLICATION
TABLE 4 HAPTIC TECHNOLOGY MARKET, BY REGIONS
TABLE 5 NORTH AMERICA HAPTIC TECHNOLOGY MARKET, BY COMPONENT
Continued….

LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 HAPTIC TECHNOLOGY MARKET, BY COMPONENT (%)
FIGURE 3 HAPTIC TECHNOLOGY MARKET, BY FEEDBACK (%)
FIGURE 4 HAPTIC TECHNOLOGY MARKET, BY APPLICATION (%)
FIGURE 5 HAPTIC TECHNOLOGY MARKET, BY REGIONS (%)
Continued……

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