GLOBAL HAPTIC TECHNOLOGY MARKET FORECAST 2018-2026

GLOBAL HAPTIC TECHNOLOGY MARKET FORECAST 2018-2026

  • January 2018 •
  • 128 pages •
  • Report ID: 5090388
KEY FINDINGS
The Global Haptic Technology market was estimated to be at $9083.13 million in 2017and is projected to reach $32988.56 million by 2026, growing at an estimated CAGR of 15.46% during the forecast period of 2018-2026. Factors such as the growing demand for the haptic technology in gaming consoles, electronics devices, automotive safety applications, education display technology, etc. can all be attributed for the recent boom in the market.

MARKET INSIGHTS
The Global Haptic Technology market is segmented by its components, applications, and feedback type. The components can further be classified into drivers and controllers, actuators, software, etc. The application for this market can be observed in areas like consumer electronics, gaming, healthcare, and education. The feedback component of the market is further classified into force feedback and tactile feedback

REGIONAL INSIGHTS
The global haptic technology market covers four major geographic regions, that is, the Asia-Pacific, Europe, North America and the rest of the world. Due to the presence of major market companies such as HTC, Fujitsu, LG, Panasonic, Lenovo, Samsung, Sony, etc., the Asia-Pacific region is dominating the global market. The rest of the world market which includes Latin America, Middle East, and Africa is anticipated to be the fastest growing market over the forecast period, primarily driven because of the integration of the haptic technologies for a wide range of applications in this region.

COMPETITIVE INSIGHTS
Immersion Corporation, Texas Instruments Inc, Precision Microdrives Ltd, Johnson Electric, Ultrahaptics, On Semiconductor Corporation, Microchip Technologies Inc, Synaptics Inc, Smk Corporation, Haption S.A, Densitron Technologies and 3D Systems are some of the prominent global leaders in the market. Most of these companies are relying on strategies such as partnership, mergers, acquisitions, contracts, etc. to gain a competitive edge in the market.