Dublin, Feb. 07, 2022 (GLOBE NEWSWIRE) -- The "Haptics - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Haptics Market to Reach US$28.1 Billion by the Year 2026
While traditional end-use markets for haptics such as smartphones and gaming continue to support demand, stronger growth is expected in emerging markets such as wearables, smart homes, automotive, and healthcare, military that are expected to see strong growth. Haptic technology is being explored in various automotive applications ranging from driver alerts to infotainment systems.
The market is also benefitting from introduction of new types of actuator hardware, software drivers, and systems integration. The introduction of new generation of haptic ICs has increased the potential of haptics to provide richer human-machine interface (HMI) experience for applications such as smartphone-based gaming, virtual/augmented reality (VR/AR), PC trackpads, watches and wearables, and automotive touchscreens and button.
Moreover, startups are coming up with new software and hardware solutions as well as gaining significant funding as support to the technology. Some of the interesting developments in this direction are midair haptics, wrist-based wearable device to route sound through skin, and exoskeleton force feedback gloves intended for remote and VR manipulation.
Amid the COVID-19 crisis, the global market for Haptics estimated at US$13.8 Billion in the year 2020, is projected to reach a revised size of US$28.1 Billion by 2026, growing at a CAGR of 12.7% over the analysis period. Tactile, one of the segments analyzed in the report, is projected to grow at a 13.5% CAGR to reach US$24 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Force segment is readjusted to a revised 10.7% CAGR for the next 7-year period. This segment currently accounts for a 28.3% share of the global Haptics market.
The U.S. Market is Estimated at $1.8 Billion in 2021, While China is Forecast to Reach $6 Billion by 2026
The Haptics market in the U.S. is estimated at US$1.8 Billion in the year 2021. The country currently accounts for a 12.1% share in the global market. China, the world second's largest economy, is forecast to reach an estimated market size of US$6 Billion in the year 2026 trailing a CAGR of 15.4% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.2% and 10.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.2% CAGR while Rest of European market (as defined in the study) will reach US$7 Billion by the end of the analysis period. The need to replace ageing aircraft fleet, particularly in North America and Europe offers opportunities for haptics in commercial flight simulation equipment.
Select Competitors (Total 119 Featured)
- 3D Systems, Inc.
- AAC Technologies
- ALPS ALPINE Co. Ltd.
- CyberGlove Systems LLC
- Dongwoon Anatech Co. Ltd.
- Force Dimension
- Haption SA
- IMAGIS
- Immersion Corporation
- Infineon Technologies AG
- Johnson Electric Holdings Limited
- Microchip Technology Inc.
- Moog Inc.
- Precision Microdrives Ltd.
- SMK Corporation
- Synaptics Incorporated
- TDK Corporation
- Texas Instruments Incorporated
- Ultrahaptics
Key Topics Covered
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 and a Looming Global Recession
- 2020: A Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021
- Haptics Gains Significance as Contactless Technologies Attract Interest
- Haptics: A Prelude
- Types of Haptic Feedback
- Advantages of Using Haptics
- Challenges in Haptics Usage
- Major Use Cases of Haptic Technology
- Market Outlook
- Key Future Trends in Haptic Technology
- Recent Market Activity
- Select Innovations
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Haptic Presents Potent Marketing Tool to Lift Customer Experience & Retention
- New Opportunities for Haptic Touchpads in Laptops
- Smart Homes and Home Automation Systems to Provide Robust Opportunities
- Growing Significance of Haptics in AR and VR Application
- Multi-Channel Haptics to Drive Growth
- Automotive & Transportation to Broader Uptake
- For Electric Car Makers, Haptic Technology is New Option to Stand Out & Differentiate
- Faurecia and Immersion Corporation Come together for developing highly interactive Haptic User Interfaces
- Demand for More Immersive User Experience Drives Incorporation of Haptics in Video Gaming
- Impact of COVID-19 Pandemic on Gaming Industry
- Key Statistical Findings
- Strong Growth in Mobile Video Usage Drives the Business Case for Haptics
- Opportunity Indicator
- Haptics Gain at the Expense of Home Button in Smartphones
- Opportunity Indicators
- Advanced Haptics from Qualcomm for Android
- Tactile Computing Revolution Opens a New Window of Opportunity for Haptics
- An Introduction to High-Definition Haptic Feedback
- Haptics Emerges As a Key Strategy for Product Differentiation
- Haptics Technology for Virtual Prototyping
- Haptics in Healthcare: A Growing Field
- Simulated Training Drive Adoption of Haptics in Surgery Procedures
- Increasing Role of Haptic Technology in Designing of Innovative Products with Increased Functionalities
- Haptic Technology Finds Opportunities in Retail to Boost Shopping Experience
- UltraHaptics to Bring In a New Era of Touchless Touch Screens
- Wearable Haptics Gain Prominence in Personalized Devices
- Robotics Emerges as an Essential Application of Haptic Feedback
- Proliferation of Touchscreens, Touch Surfaces & Their Inherent UI Limitations Amplify Interest in Haptics
- Adoption of Touch Screens in Public Shared Devices: An Attractive Opportunity for Growth
- Haptic Technology Brings Myriad of Exciting Possibilities
- Strong Focus on Industrial Automation Drives Interest in Haptics
- Development of New Generation Automated Aircrafts Drives Demand for Haptics in Commercial Flight Simulation Equipment
- Haptic Technology Finds Application in Space
- Haptics Set to Revolutionize Molecular Biology & Cellular Research
- Potential Application of Haptic Technology for Creating Mobility Devices for Visually Impaired People
- Haptics in Entertainment Industry
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 119
For more information about this report visit https://www.researchandmarkets.com/r/1mkrvu
