Global Haptic Technology Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global haptic technology market in its upcoming report titled, “Global Haptic Technology Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027”. The global haptic technology market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the global haptic technology market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global haptic technology market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global haptic technology market report has been segmented on the basis of component, technology, application, and region.

Haptics is a form of nonverbal communication. Haptics refers to haptic communication, haptic technology, and haptic perception. Haptic technology allows an individual to feel input from haptic technology interfaces through touch. Haptic technology uses physical feedback and is executed by applying motion or force on a person’s body in the form of vibration. Haptic technology is used primarily in the control and creation of virtual objects, or in enhancement of remote control of machines and devices.

Rising demand for consumer electronics devices such as smartphones, tablets, virtual interface, media players, and home appliances is a key factor driving growth of the global haptic technology market. In addition, increasing adoption of haptic technologies in gaming applications, and technological advancements are major factors expected to fuel growth to the global haptic technology market over the forecast period.

However, high cost, portability, debugging issues, and high power consumption are key factors restraining growth of the global haptic technology market. Additionally, lack of technological awareness and complex software design are major factors expected to hamper growth of the global haptic technology market over the forecast period.

Asia Pacific is a dominant player in the global haptic technology market and accounts for highest market share in terms of revenue as compared to that of markets in other regions. This can be attributed to growing penetration of smartphones, increasing use of internet enabled devices, and presence of major consumer electronics and semiconductor companies in countries such as China, Japan, Taiwan, and South Korea. The market in North America accounts for second-highest revenue share contribution to the global haptic technology market, followed by Europe. This can be attributed to increasing adoption of haptic technologies in various end use industries such as automotive, healthcare, and defence.

Global Haptic Technology Market Segmentation:

Global haptic technology market segmentation by component:

• Actuators
• Drivers
• Controllers

Global haptic technology market segmentation by technology:

• Tactile feedback
• Force feedback

Global haptic technology market segmentation by application:

• Consumer electronics
• Automotive
• Healthcare
• Others

Global haptic technology market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa