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Global Haptic technology market to reach USD 5.7 billion by 2027.

Global Haptic technology market Size study, by Component (Hardware, Software), by Feedback Type (Tactile, Force), By Application (Consumer Devices, Automotive & Transportation, Education & Research, Others), and Regional Forecasts 2020-2027

Product Code: IACTNGT_70919791
Publish Date: 1-10-2020
Page: 200

Global Haptic technology market is valued approximately at USD 2.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 12% over the forecast period 2020-2027. The Haptics technology is a bridge between connected device and the user that offers force feedback and tactile feedback to the users over the sense of touch by pertaining forces, vibrations, and motion to the users. This technology provides higher touch vibrations whereas using electronic devices, and outcomes in accurate virtual experience. A key factor driving the growth of the global market for haptic technology is the growing demand for consumer electronic devices such as smartphones, tablets, virtual interfaces, media players and home appliances. Also, Haptic feedback finds its applications and functions as a persuasive tool in wearable devices, including wristbands, smartwatches, and fitness trackers, having better battery life, faster controls and user-friendly interfaces. For instance, according to the Statista, In the space of three years, the number of connected wearable devices worldwide has more than doubled, rising from 325 million in 2016 to 722 million in 2019. It is estimated that the number of devices will reach more than one billion by 2022. Additionally, Due to rising demand for haptic technology, players in this market are taking initiatives for their expansion in the market. For instance:
 In September 2020, Immersion signed a multi-year license extension for the continued use of TouchSense applications and haptic technology in its mobile devices with LG Electronics (South Korea). LG is expected to continue the use of Immersion haptic software across its entire range of smartphones.
 In November 2020, Ultraleap signed an agreement to bring Ultraleap’s hand tracking and mid-air haptic technology to customers in the UAE with IPlan Ideas Events and its division, IPlan Ideas Technologies (IPI Tech), a subsidiary of the Hawas Group based in the UAE.

However, transition cost of this technology is extremely high, which may not be reasonable to many companies, this may hinder the market growth over the forecast period of 2020-2027.

The regional analysis of the global Haptic technology market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share due to increasing disposable income, which in turn has expanded the acceptance of consumer devices in the region. Whereas Europe is also anticipated to exhibit the highest growth rate/CAGR over the forecast period 2020-2027, owing to increasing consumer expenditure on technologically advanced electronics devices.
Major market player included in this report are:

Texas Instruments
Johnson Electric
AAC Technologies
Microchip Technology
3D Systems, Inc.
Force Dimension
Immersion Corporation
Maxim Integrated Product
Precision Microdrives Ltd
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Application offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:
By Feedback Type :
By Application:
Consumer Devices
Automotive & Transportation
Education & Research
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027.

Target Audience of the Global Haptic technology market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Haptic technology market, by Region, 2018-2027 (USD Billion)
1.2.2. Haptic technology market, by Component , 2018-2027 (USD Billion)
1.2.3. Haptic technology market, by Feedback Type , 2018-2027 (USD Billion)
1.2.4. Haptic technology market, by Application, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Haptic technology market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Haptic technology market Dynamics
3.1. Haptic technology market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Haptic technology market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economic
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Haptic technology market, by Component
5.1. Market Snapshot
5.2. Global Haptic technology market by Component ,by performance- Potential Analysis
5.3. Global Haptic technology market Estimates & Forecasts by Component 2017-2027 (USD Billion)
5.4. Haptic technology market, Sub Segment Analysis
5.4.1. Hardware
5.4.2. Software
Chapter 6. Global Haptic technology market, by Feedback Type
6.1. Market Snapshot
6.2. Global Haptic technology market by Feedback Type ,by performance- Potential Analysis
6.3. Global Haptic technology market Estimates & Forecasts by Feedback Type 2017-2027 (USD Billion)
6.4. Haptic technology market, Sub Segment Analysis
6.4.1. Tactile
6.4.2. Force
Chapter 7. Global Haptic technology market, by Application
7.1. Market Snapshot
7.2. Global Haptic technology market by Application ,by performance- Potential Analysis
7.3. Global Haptic technology market Estimates & Forecasts by Application 2017-2027 (USD Billion)
7.4. Haptic technology market, Sub Segment Analysis
7.4.1. Consumer Devices
7.4.2. Automotive & Transportation
7.4.3. Education & Research
7.4.4. Others
Chapter 8. Global Haptic technology market, Regional Analysis
8.1. Haptic technology market, Regional Market Snapshot
8.2. North America Cardiac Marker Testing Market
8.2.1. U.S. Haptic technology market Component breakdown estimates & forecasts, 2017-2027 Feedback Type breakdown estimates & forecasts, 2017-2027 Application breakdown estimates & forecasts, 2017-2027
8.2.2. Canada Haptic technology market
8.3. Europe Haptic technology market Snapshot
8.3.1. U.K. Cardiac Marker Testing Market
8.3.2. Germany Haptic technology market
8.3.3. France Haptic technology market
8.3.4. Spain Haptic technology market
8.3.5. Italy Haptic technology market
8.3.6. Rest of Europe Haptic technology market
8.4. Asia-Pacific Haptic technology market Snapshot
8.4.1. China Cardiac Marker Testing Market
8.4.2. India Cardiac Marker Testing Market
8.4.3. Japan Haptic technology market
8.4.4. Australia Haptic technology market
8.4.5. South Korea Haptic technology market
8.4.6. Rest of Asia Pacific Haptic technology market
8.5. Latin America Haptic technology market Snapshot
8.5.1. Brazil Haptic technology market
8.5.2. Mexico Haptic technology market
8.6. Rest of The World Haptic technology market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Texas Instruments Key Information Overview Financial (Subject to Data Availability) Component Summary Recent Developments
9.2.2. Johnson Electric
9.2.3. AAC Technologies
9.2.4. TDK
9.2.5. Microchip Technology
9.2.6. 3D Systems, Inc.
9.2.7. Force Dimension
9.2.8. Immersion Corporation
9.2.9. Maxim Integrated Product
9.2.10. Precision Microdrives Ltd

Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.

Primary Research Sources:

  • Interview conducted with raw material suppliers & manufacturers.
  • Interview conducted with manufacturers, suppliers & distributors, researchers, & representatives of regulatory bodies.
  • Interview conducted with market players, industry experts, & independent consultants.
  • Secondary Research Sources:
  • Purchased Database: D&B Hoovers, Bloomberg, Inc., Business Information Industry Association, NAICS Association.
  • Internal Database: White papers, Certified Publications, Articles by Recognized Authors and Regulatory Bodies.
  • Government Databases: Food and Agriculture Organization (FAO), European Industrial Hemp Association (EIHA), World Health Organization (WHO), Food and Drug Administration (FDA), International Telecommunication Union (ITU), United States Department of Agriculture (USDA), International organization of Motor Vehicle Manufacturers (OICA).

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