Haptic technology: Key market research findings
- Emergence of ultra-haptics
- Demand for demand for interactive sensors from end-users
Technavio has released a new market research report on the global haptics technology market, which is expected to grow at a CAGR of 12% between 2016 and 2020. Haptics is an integral part of consumer electronics devices such as smartphones, tablets, and wearables and automobiles. Mobile devices are the major revenue-contributing segment in this market as all major manufacturers have incorporated haptics in their mobile devices. APAC occupies around 74% of the total market share, due to large presence of system integrators and OEMs in the region.
Segmentation of consumer electronics using Haptics technology
Source: Technavio, 2016
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“One of the interesting trends that is expected to gain prominence in the haptic market is the emergence of ultra-haptics. Manufacturers are developing systems that will form 3D virtual objects that can be seen and felt in the air. Users can operate through tactile feedback, without usingtheir hands. Ultra-haptic displays, allow users to see all deals, offers, and discounts available by simply logging into apps such as FOURSQUARE on a holographic display,” says Sunil Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research
An important driving factor in the market is the demand for interactive sensory experience from end-users. With the increasing use of media applications in mobile devices and automotive, end-users require a user-friendly mode of operating devices that can be provided by haptics. Another major driver in the market is growing number of partnerships between Immersion and OEMs. These partnerships increase the adoption rate of haptic technology in devices, boosting the market.
The leading players in the global haptics technology market include Immersion. Immersion is the only global vendor providing haptics for products that incorporate the technology. Being a monopoly in the market, Immersion the price setter, which has resulted in the technology becoming expensive.
A more detailed analysis is available in the Technavio report, Global Haptics Technology Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Automotive Haptic Technology Market 2015-2019
- Global Haptic Technology Market for Mobile Devices 2015-2019
- Haptic Technology Market for Mobile Devices in the US 2015-2019
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