Global Haptic Technology Market Size, Trends, and Analysis- Forecasts To 2026 By Component (Hardware, Software), By Feedback Type (Tactile, Force), By Application (Consumer Devices, Automotive & Transportation, Healthcare, Commercial & Industrial, Others), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
Haptic Technology Market: Insights
Haptics is a technology involved in transmitting and understanding information through touch. The haptics is used to define tactile feedback. The global haptics market will have a high penetration rate between the forecast period, due to the growing adoption of technology among end-users. The growingintegration ofhaptics in electronic devices, technological adoption in the medical industry, and development in vehiclesecurity applications are the major factors positively impacting the market. The increasing demand for touchscreens, along with growing gaming applications are boosting the market growth. The technology offers various benefits such as increased accuracy, speed, and improve user satisfaction among others. However, the high cost of technology and technical challenges related to product design are hampering the market growth.
Haptic Technology Market: By Component
Based on the component analysisthe software will be the trending segment and holds the maximum share in the global market. Haptic software offers numerous benefits including enhanced accuracy, superior user-satisfaction, faster response time, and improve device performance among others. High penetration of advanced consumer electronics, developments in smartphones, and increased acceptance of haptic-based devices among different industries are propelling the software segment growth.
Haptic Technology Market: By Application
Based on the application analysis, the market is explained into healthcare, automotive, transportation, consumer devices, commercial & industrial, gaming and defense among others. The automotive & transportation segment will register a high growth rate and follow the trend between the forecast period 2021-2026. The advancements in the automotive industry, growing demand for advanced electronic systems among electrical vehicles, increasing preference for high-end & safety vehicles, and integration of haptics technology in-car infotainment systems are the major driving factors. The technology is used foraccelerator pedals, climate control screens, dashboards, and steering wheels. The premium automobile companies such as BMW, Honda, Toyota, Benz, Tesla, and Audi, are integrating haptic technology in their cars.
Haptic Technology Market: By Region
The Asia Pacific region will be holding a major share in the global market, due to the presence of strong electronics manufacturing base in China and Japan. The growing demand and production of consumer electronics, smartphones in the region are driving the market. The presence of leading smartphone manufacturers such as Vivo, Huawei, Xiaomi, OnePlus, and Oppo are also supporting the market growth. The growing integration of innovative technologies includinginfotainment systems and touchscreen-enabledin automotive industries is boosting regional growth.
Haptic Technology Market:Share & Competitor Analysis
Key players operating in the market include are Texas Instruments, Johnson Electric, Aac Technologies, TDK, Microchip Technology, Immersion, On Semiconductor, Precision Microdrives, Ultraleap, Synaptics, AitoBv, Alps Alpine, Cirrus Logic, Dialog Semiconductor, Hap2u, Imagis, and Infineon among others.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Haptic Technology Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Haptic Technology Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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