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  • 15 October 2019 23:58

Haptics Technology Market Set for Rapid Growth

The rapid increase in overall demand for consumer electronics such as tablets, smartphones, home appliances, media players as well as virtual interfaces along with the demand for efficient product differentiation is anticipated to bolster the growth of global haptics technology market over the forecast period.

Haptic technology refers to an interface across end user and networked devices which offers force feedback and tactile feedback to its users via sense of touch by smearing forces, vibrations and motion. The usage of haptics technology in joysticks, video games, steering wheels and controllers improves the overall experience by involving sound, motion and light which enables the operators to manipulate and feel the virtual tools and senses by joining virtual haptics into real world. Haptics are considered to be relatively more direct senses when compared to other senses incorporated in computer interaction such as vision and audio.

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Market Dynamics

The rapid increase in overall demand for consumer electronics such as tablets, smartphones, home appliances, media players as well as virtual interfaces along with the demand for efficient product differentiation is anticipated to bolster the growth of global haptics technology market over the forecast period. In addition, advancements in technology as well as increasing demand for future video games is further expected to fuel the overall market growth. Moreover, rising demand for product differentiation in order to achieve consumer loyalty is another key aspect bolstering the consumers to opt for advanced technologies. The utilization of haptics, especially in healthcare and medical sector mainly in several specialized surgical procedures is also anticipated to augment the growth of global haptics technology market. However, high consumption of power as well as intricate design regulations of touch screen haptics in turn fuels the overall maintenance cost, which is further hindering the growth of market.

Market Classification and Overview

The haptics technology market is segmented into component, technology, application and geography. On the basis of component, the market is classified into actuator, electronics and software. On the basis of technology, the market is divided into captive technology, resistive technology and others. The market is classified on the basis of applications such as consumer electronics, industrial and others. Based on geography, market is divided into North America, Latin America, Europe, Asia-Pacific and Middle East & Africa.

Market Participants

In the haptics technology market, companies such as Apple, 3M, Johnson Electric, Cypress Semiconductor Corporation, Samsung Electronics, Elo Touch Solutions, Immersion Corporation, National Semiconductor, Alpine Electronics and GestureTek among others.

Market Segmentation

Market By Technology: Captive Technology, Resistive Technology, Others

Market By Application: Industrial, Consumer Electronics, Others

Market By Component: Actuators, Electronics, Software

Market By Geography: North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

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