Asia Pacific dominates the Haptics Technology Market:
The Asia Pacific will dominate the Haptics Technology Market during the forecast period. It is expected to reach $27.74 billion at a CAGR of 22.2% by 2023. This is due to the increasing demand for consumer electronics and medical equipment in countries such as China and India. Haptic technology is used for applications such as surgical simulation, medical training, physical rehabilitation, visualization and gaming in the Asia Pacific. In connected car solutions, haptics technology is used for car navigation and can provide touch or force feedback as part of the user interface in vehicles, through the use of vibration motors to improve the usability of vehicles. The large presence of system integrators and OEMs also drive the growth of the Asia Pacific market.
Selected Analysis was done in the Haptics Technology Market Report:
The consumer application segment generated a revenue of $8.47 billion in 2015. It is expected to generate a revenue of $45.16 billion by 2023 at a CAGR of 19.5%. Haptic devices include physical contact between a user and a computer. This contact is done using the input or output part of the devices that sense the body movements. The users get the sensation of touch from a virtual object while handling a joystick, data glove or body suit. Haptic technology is applicable for video games, smartphones, robotics, and other touch-based electronic devices. The integration of haptic technology in games enhances the gaming experience and increases the entertainment level for the players.
Excerpts on Haptics Technology Market Growth Factors:
Haptics technology is used in military simulation, especially in army evaluation.
Enhanced user experience makes haptics technology integrated products personalized.
Haptics technology is applicable in medical imaging.
Collaborative research in developing industrial applications drives the growth of the Haptics Technology Market.
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Key players of the Haptics Technology Market:
Texas instruments dominates the Haptics Technology Market, followed by AAC Technology Holdings and Johnson Electric Holdings Limited. Texas Instruments has launched wireless haptic development kit powered by bluetooth that supports easy tactile feedback prototyping in a wide range of applications, thus providing a more engaging user experience. AAC Technology Holdings manufactures diversified motor products for implementing cost-effective Haptics solutions. Johnson Electric Holdings Limited manufactures and distributes motion components for industrial, automotive, and medical.
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