Global Haptic Technology Market is Expected to Reach a Market Value of USD 37.97 billion by 2027

Haptic technology market is estimated to grow at 14.20% for 2020-2027 with factors such as high cost of technology along with rising power consumption will hinder the growth of the market in emerging economies.

Haptic technology market has shown an exceptional penetration in developing economies in Asia-Pacific. Increasing demand of smartphones along with adoption of internet enable services which will help in driving the growth of the market.

Haptic Technology Market Scenario

According to Data Bridge Market Research the haptic technology market is witnessing a significant growth in developing economies during the forecast period of 2020-2027 due to factors such as increasing demand of gaming consoles, rising usages of haptics in consumer electronic devices, growing number of applications in automotive sector, rising preferences of holographic display technology which will help in boosting the growth of the market.

Now the question is which are the other regions that haptic technology market is targeting? Data Bridge Market Research has estimated a large growth in North America haptic technology market in the forecast period of 2020-2027. The Data bridge market research new reports highlight the major growth factors and opportunities in the haptic technology market.

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Haptic Technology Market Development in 2020

  • In January 2020, Murata announced the acquisition of 3DHaptics Company which will helps in providing advanced product by combining it with haptic technology. This technology will offer virtual gaming experience that will further help in the growth of entertainment sector.

Scope of the Haptic Technology Market

Haptic technology market is segmented on the basis of countries into U.S., Canada, Mexico in North America, Brazil, Argentina, Rest of South America as a part of South America, Germany, France, U.K., Italy, Spain, Netherlands, Belgium, Russia, Turkey, Switzerland, Rest of Europe in Europe, China, Japan, India, Australia, Singapore, Thailand, Malaysia, South Korea, Indonesia, Philippines, Rest of Asia-Pacific (APAC) as a part of Asia-Pacific (APAC), U.A.E, Egypt, Saudi Arabia, South Africa, Israel,  Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

  • All country based analysis of the haptic technology market is further analyzed based on maximum granularity into further segmentation. On the basis of component, the market is segmented into microcontrollers, drivers, actuators, software, and others. Based on feedback, the market is segmented into tactile feedback, and force feedback. The applications covered for the report are automotive & transportation, consumer electronics, education & research, gaming, healthcare, engineering, and others.
  • Haptic technology is a type of 3D touch technology which is used to create and control virtual objects in the computer simulation and to enhance the control of devices as well as machines. These type of technology is widely used in various applications such as consumer electronics, automotive & transportation, gaming, engineering, healthcare and others.

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Key Pointers Covered in the Haptic Technology Market Industry Trends and Forecast to 2027

  • Market Size
  • Market New Sales Volumes
  • Market Replacement Sales Volumes
  • Market By Brands
  • Market Procedure Volumes
  • Market Product Price Analysis
  • Market Regulatory Framework and Changes
  • Market Shares in Different Regions
  • Recent Developments for Market Competitors
  • Market Upcoming Applications
  • Market Innovators Study

Key Market Competitors Covered in the report

  • Texas Instruments, Inc.
  • Immersion
  • Precision Microdrives Limited
  • Ultrahaptics
  • Semiconductor Components Industries, LLC
  • Microchip Technology Inc.
  • Synaptics Incorporated
  • SMK Corporation
  • 3D Systems, Inc.
  • force dimension
  • LG Electronics

Above are the key players covered in the report, to know about more and exhaustive list of Haptic Technology companies contact us

Research Methodology: Global Haptic Technology Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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