DUBLIN–(BUSINESS WIRE)–The “Global Haptic Technology Market 2019-2027” report has been added to ResearchAndMarkets.com’s offering.
According to an analysis by the publisher, the global haptic technology market is predicted to grow at a CAGR of 14.85% during the forecasting period 2019-2027.
The growing adoption by the gaming console companies, the increasing use of consumer electronic devices, the rising use of touch screen interface and the growing innovation and application in automotive industry are the factors driving the market growth of haptic technology. Key opportunities like increasing applications of systems for visually impaired and holographic display products must be leveraged to reach the projected growth rate. However, using haptic technology is expensive. The implementation costs are expected to decline only after mass production. The high cost of adopting haptic technology and the high power consumption, along with the technical challenges faced by manufacturers, are restraining the market growth.
The global market report covers the countries from Asia-Pacific, Europe, North America, Latin America and the Middle East & Africa.
Asia-Pacific is anticipated to be the largest market with the highest revenue for the haptic technology market. The main reason for this growth is the developing economies in Asian countries. Besides, the development of the automotive industry in China, Japan, India, South Korea and ASEAN countries are promoting the adoption of touch-enabled display systems, thereby instigating the market growth in the region. In addition, the growing penetration of smartphone adoption also contributes to the regional market growth of haptic technology.
Companies Mentioned
Key Topics Covered:
1. Global Haptic Technology Market – Summary
2. Industry Outlook
2.1. Market Definition
2.2. Key Insights
2.2.1. Tactile Haptic Technology Leads The Market
2.2.2. Consumer Electronics Segment Captures Largest Market Share
2.2.3. Hd Haptics & Ultra Haptics Gives Further Push to The Market
2.3. Porter’s Five Force Analysis
2.3.1. Threat of New Entrants
2.3.2. Threat of Substitute
2.3.3. Bargaining Power of Suppliers
2.3.4. Bargaining Power of Buyers
2.3.5. Threat of Competitive Rivalry
2.4. Market Attractiveness Index
2.5. Vendor Scorecard
2.6. Industry Components
2.7. Market Drivers
2.7.1. Increased Adoption by Gaming Console Companies
2.7.2. Growth in Consumer Electronic Devices
2.7.3. Increased Use of Touch Screen Interface
2.7.4. Growing Innovation and Application in Automotive Industry
2.8. Market Restraints
2.8.1. High Cost of Adopting The Technology
2.8.2. Increased Power Consumption
2.9. Market Opportunities
2.9.1. Applications For Visually Impaired
2.9.2. Holographic Display Products Provide Potential Applications
2.10. Market Challenges
2.10.1. Technical Challenges Faced by Manufacturers
3. Global Haptic Technology Market Outlook – by Feedback Type
3.1. Tactile
3.2. Force
4. Global Haptic Technology Market Outlook – by Components
4.1. Actuators
4.2. Drivers & Controllers
4.3. Software
4.4. Others
5. Global Haptic Technology Market Outlook – by Application
5.1. Consumer Electronics
5.2. Engineering
5.3. Gaming
5.4. Automotive & Transportation
5.5. Education & Research
5.6. Healthcare
5.7. Others
6. Global Haptic Technology Market – Regional Outlook
6.1. North America
6.2. Europe
6.3. Asia-Pacific
6.4. Latin America
6.5. Middle East and Africa
7. Competitive Landscape
8. Methodology & Scope
For more information about this report visit https://www.researchandmarkets.com/r/tr8uva.
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