Haptic Technology Market Overview
The haptic
technology is a device that provides feedback to the user through the sense
of touch by applying vibration, forces, and motion of users. It is used in many
electronics like watches, phones, tablets, game controllers, etc. it is an
improved technology that provides a sensation of touch to the user, and the
devices get the message to work in that manner. Haptic sensors are more direct
sensors compared to any other sensor device. Increasing technology and demand
for touch screen senses in many devices improve the growth of the haptic technology market. Children are getting
more inclined for video games and improved technology, which is expected to
boost the haptic technology market in
the forecast period. They examined this technology in the aircraft, but it was
discarded due to certain errors. The demand for AI and IoT and mobile phones,
smartwatches, and laptops impact the market's growth. Haptic technology is used
in many applications. The market seems to grow at a high rate in the forecast
period. Various research and the technical institute also use this in the
service, and the growing demand for this technology in companies increase the
market value of the haptic technology market.
Haptic Technology Market Size was estimated at USD 9.3 billion in 2021. The
haptic technology industry is projected to grow from USD 10.5 billion in 2022
to USD 26.3 billion by 2030, exhibiting a compound annual growth rate (CAGR) of
13.9% during the forecast period (2022 - 2030). Due to lockdown, the supply
chain and production of haptic technology declined. Less labor and workforce of
the industry also affect the market negatively during the COVID 19 outbreak.
The increasing demand for mobile tablets drives the haptic technology market.
With the technology innovation, the technology is also used to control robots,
and the usage of this technology in the wearable products demand to fuel the
market. These devices are bulky and require skilled professionals for the
installment, and due to the high force fees, it affects the market. The key challenge
for the haptic technology market is
to choose which component would fit best in the particular device.
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Market segmentation
The haptic technology market is
segmented into components, feedback, and application. The market is further
divided into actuators, drivers and controllers, software, and others based on
the component. The haptic technology market based
on the segment feedback is separated into tactile and force. The market is
divided into consumer electronics, automotive and transportation, gaming,
education and research, healthcare, engineering, and others based on the
application segment. The actuator holds the largest market share among other
components. Among the different application segments, the electronic segment
increases the market's growth.
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Industry news
Actronika, a startup company for its HD haptic technology,
has a futuristic new product expected to showcase at the consumer electronics
show in January 2022. That product is kinetic, a haptic vest that makes virtual
reality experience.
Region analysis
the haptic technology market is
spread into regions North America, Europe, Asia-Pacific, and other parts of the
globe. With the increased use of technology in the Asia Pacific region, it
holds the largest market share, 2,230.7 million, in 2018. It is expected to
grow at a high rate in the forecast period. Also, many smartphone companies in
the region improve the market growth. As North America adopts advanced
technology sooner than other countries and with a good economic system, the
region is expected to grow and improve the market size of the haptic technology market.
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