$42.36 Billion Haptics Technology Market - Global Outlook & Forecasts 2017-2026

DUBLIN, Jan. 25, 2019 /PRNewswire/ --

The "Haptics Technology - Global Market Outlook (2017-2026)" report has been added to ResearchAndMarkets.com's offering.

Global Haptics Technology market accounted for $9.50 billion in 2017 and is expected to reach $42.36 billion by 2026 growing at a CAGR of 18.1% during the forecast period.

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 the market growth. Developing haptic and touch technology to improve the efficiency of medical simulations for invasive procedure represents a good opportunity for manufacturers.

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.

By Feedback, Tactile feedback segment accounted for the largest market share in the global market due to its applications in customer electronic devices such as smartphones and tablets. Nearly all the smartphones and tablets are inbuilt with tactile feedback and the trend has been changing to wearable devices such as smartwatches and wristbands. In addition, it is driven by the rising demand in numerous applications such as gaming, automotive, and healthcare.

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.

What our report offers:

• Market share assessments for the regional and country level segments
• Market share analsis of the top industry players
• Strategic recommendations for the new entrants
• Market forecasts for a minimum of 9 years of all the mentioned segments, sub-segments and the regional markets
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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SOURCE Research and Markets

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