May 21, 2020 (Market Prediction via COMTEX) -- Haptics Technology Market is projected to grow at noteworthy growing CAGR over the forecast period 2020-2027.
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.
Some of the key drivers of the market include rising demand for haptics in gaming consoles and growing implementation of haptics in consumer electronic devices are fuelling the market growth. In addition, the use of haptics technology in the medical sector by doctors for training purpose in various surgical procedures is the major driving factor for market growth. However, high power consumption and high cost are inhibiting market growth. Developing haptic and touch technology to improve the efficiency of medical simulations for invasive procedure represents a good opportunity for manufacturers.
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Haptic technology provides an enhanced multi-modal experience to the user by attractive touch, sight and sound. This technology is more and more used in customer’s electronics such as tablets and smartphones as it delivers tactile feedback to its users. The usage of Haptics technology in joysticks, controllers and steering wheels and future video games enhances the user experience by engaging sound, light and touch which allows the users to feel and influence the virtual avatars and tools by incorporating Haptics into a virtual world. It involves physical contact between the computer and the user. By using haptic devices, the user can not only supply information to the computer but can receive information from the computer.
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By Geography, Asia Pacific commanded the largest market share due to most of the customer’s electronics are manufactured in this region. In addition, several automotive OEMs and medical device manufacturers are integrating haptics into their products which would augment the market.
Market By Technology
-- Captive Technology
-- Resistive Technology
Market By Application
-- Consumer Electronics
Market By Component
Market By Geography
-- North America