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Haptic Technology Market by Component, Feedback, Application, and Region - Global Forecast to 2022

Haptic Technology: Global Forecast until 2022

  • October 2016
  • 139 pages
  • ID: 4247287
In this report:
The market for tactile feedback haptics accounted for the major share of ##.##% of the haptic technology market for the engineering (industrial) application in 2015 and is expected to grow at the highest CAGR of ##.##% during the forecast period.
The market for tactile feedback haptics accounted for the major share of ##.##% of the haptic technology market for other applications in 2015 and is expected to grow at the highest CAGR of ##.##% during the forecast period.

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"The overall haptic technology market to be valued at $19549.80M by 2022."

The overall haptic technology market is anticipated to be valued at ~$19.5B by 2022, at a compound annual growth rate of ~16.2 percent between 2016 and 2022. The main drivers providing to the rise of the market primarily include growing adoption of haptics in consumer electronic devices including smartphones and tablets, increasing demand for haptics in gaming consoles, and potential market for haptics in medical and automotive markets. Nevertheless, the increase of the market is anticipated to be limited due to the high cost of force feedback devices and technical challenges associated to product design.

Consumer electronics industry recorded for the biggest industry for haptic technology

The consumer electronics market recorded for the largest industry for haptic technology in 2015, attributed to the rising integration of haptics into consumer electronic devices including smartphones, tablets, and other wearable devices. Almost all the smartphones and tablets are inbuilt with haptics and the trend has been shifting to smartwatches and wristbands. In April 2015, Apple Inc. launched its smartwatch with haptic technology, and now Samsung is planning to integrate haptics into its upcoming smartwatch "Gear S3."

APAC recorded for the biggest market for haptic technology and is anticipated to be the quickest developing market between 2016 and 2022

Asia-Pac recorded for the biggest share of the overall haptic technology market in 2015, driven by the presence of different main semiconductor firms and consumer electronics manufacturing firms in the Asia Pacific (APAC) area, especially in China, Japan (JP), South Korea (KR), and Taiwan. Most of the consumer electronics are manufactured in this area and these electronic firms are the end users of haptic products where haptics are integrated into the electronic devices. Additionally, various automotive OEMs and medical device manufactures are integrating haptics into their products which would growth the sector for haptics in Asia Pacific (APAC) at a considerable rate.

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions with leading opinion leaders in the haptic technology market were performed. The break-up of primary participants for the study is shown below:

- By Company Type: Tier 1-35.0 percent, Tier 2-47.0 percent, and 1/3 3-18.0 percent

- By Designation: C-level Executives-30%, Directors-54%, and Others-16%

- By area: Americas-35%, Europe-50%, Asia-Pacific-10%, and RoW-5%

The report profiles the main actors in the haptic technology market with their respective market share review. The main players decribed in this analysis are Immersion Corporation, Texas Instruments Incorporated, Ultrahaptics, Haption S.A., ON Semiconductor Corporation, Johnson Electric, SMK Corporation, Microchip Technologies Incorporated, Synaptics Incorporated, Geomagic, Force Dimension, Precision Microdrives Ltd., Senseg, and Imagis Co., Limited.

Scope of the Report

The analysis depicts market forces that contain key market drivers, industry restraints, opportunities, and possibilities with respect to the haptic technology market and forecasts the same till 2022. This market report offers a exhaustive view of the haptic technology market established on feedback, component, application, and territory. The report also profiles the prominent actors in the industry together with their main increase strategies. The competitive landscape of the market examines a big number of actors. The sector is attesting numerous collaborations and alliances across the value chain to cater to different sectors in different areas.

Why acquiring this study can help you

- This business report includes the industry statistics pertaining to component, haptic feedback, application, and area, together with their size of market.

- Porter's five forces framework has been exploited along with the value chain study to offer a detailed insight into the haptic technology market.

- Main drivers, market restraints, and alternatives for the haptic technology market have been precised in this industry report.

- An exhaustive competitive analysis includes top players, complete study, and market share of the main actors.

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