Haptic Technology Market

The report "Haptic Technology Market by Feedback Type (Tactile, Force), Component (Hardware (Actuators, Drivers & Microcontrollers) Software), Application (Consumer Devices, Automotive & Transportation, Commercial & Industrial) and Region - Global Forecast to 2028" The Haptic Technology market is expected to reach USD 5.0 billion by 2028 from USD 4.2 billion in 2023, at a CAGR of 3.7% during the 2023–2028 period. The major factors driving the market growth of the haptic technology market include the rising integration of haptic technology into consumer devices, the growing use of haptic technology in automotive industry, and increasing use of haptic technology in healthcare industry.

Browse 199 market data Tables and 63 Figures spread through 223 Pages and in-depth TOC on "Haptic Technology Market by Feedback Type (Tactile, Force), Component (Hardware (Actuators, Drivers & Microcontrollers) Software), Application (Consumer Devices, Automotive & Transportation, Commercial & Industrial) and Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/haptic-technology-market-443.html

Hardware is expected to account for the largest share of the haptic technology market during the forecast period.

The hardware segment is expected to lead the haptic technology market. Increased adoption of haptic technology in various devices has been observed due to increased accuracy, increased input command speed, and improved user satisfaction. Technological advancements in devices are one of the driving factors for the market. For instance, manufacturers of mobile devices, vehicles, and IoT appliances are inclined toward adopting touch surfaces with haptic feedback instead of physical buttons. Haptic enables devices to become more compact, sleek, easy to update, and durable, which end users prefer.

The automotive & transportation is projected to register the highest CAGR during the forecast period.

Haptics is required for in-car infotainment systems and touchscreens in with GPS along with accelerator pedals, climate control screens, dashboards, and steering wheels. Therefore, automobile manufacturers are forming partnerships with haptic solutions providers to meet consumer demands. The growing haptic technology deployment in vehicles is a major factor driving the market growth.

Asia Pacific is expected to register the highest CAGR during the forecast period.

Asia Pacific is expected to dominate the haptic technology market from 2023 to 2028. Increasing disposable income and the subsequent increase in the usage of consumer devices, is a major driving factor for market growth in the region. China is home to many leading smartphone manufcaturers such as Huawei, Oppo, Vivo, etc. Furthermore, China is also the largest consumer of devices such as smartphones and tablets. It is also one of the leading manufacturers of passenger cars. Based on OICA’s data, passenger vehicle sale in China was 26,082,220 in 2021. The growing trend of using advanced technologies in vehicles, such as infotainment systems and other touchscreen-based devices such as dashboards, and navigation systems is expected to create growth opportunities for haptic technology hardware and software providers in the automotive industry. The growing adoption of haptic technology in consumer devices and automobiles is expected to drive the market’s growth in the next 5 years.

The report profiles key players such as Texas Instruments Incorporated (US), Johnson Electric Holdings Limited (China), AAC Technologies (China), TDK Corporation (Japan), Microchip technologies Inc. (US), Immersion (US), Semiconductor Components Industries, LLC (US), Precision Microdrives (UK), and Synaptic Incorporated (US), and ultraleap (UK).

Don’t miss out on business opportunities in Haptic Technology Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]