Global Haptic and Touch Technology Market: Overview
Haptic technology is a mechanical simulation that uses different motion, forces, and vibration to create the sense of touch in numerous electronic devices. The haptic and touch screen technology market has observed a noteworthy growth due to its application in controllers, joysticks, steering wheels, and future video games. It helps in improving the user experience by engaging light, sound, and touch.
Based on feedback, the global market for haptic and touch technology can be segmented into tactile and force. In terms of components, the market can be classified into controllers, actuators, and others. On the basis of end user industry, the global haptic technology market can be categorized into consumer electronics, aerospace & defense, automotive, healthcare, and others.
In the report, Transparency Market Report (TMR) offers a complete analysis of challenges and prospects in the global haptic and touch technology market. It also provides insight into the major segments and regions of the market.
Global Haptic and Touch Technology Market: Trends and Prospects
The primary drivers for the growth of the global haptic and touch technology market are rising requirements for product differentiation and growing application of touch screen technology in numerous consumer electronic goods such as in digital cameras, mobile devices, and other devices. In addition, increasing concern for driver and passenger safety in vehicles is supplementing the demand for haptic and touch technology. Fast changing technology and high cost are the crucial factors that might pose as a threat to the growth of the global haptic and touch technology market.
On the basis of feedback, the tactile segment will hold a large share of the market, and is expected to drive the market in the forecast period. The demand for this segment is high due to its varied application in consumer electronic devices such as smartphones and tablets. Presently, tactile feedback is inbuilt in practically all smartphones and tablets, and even wearable devices such as wristbands and smartwatches are slowly adopting this technology. In addition, the growth can be attributed to rising demand in several applications such as healthcare, automotive, and gaming.
In terms of end user industry, the education & research segment is pegged to grow over the said period. Due to increased incorporation of haptics into AR & VR devices, the education sector has boosted the demand for haptic and touch technology. With the aid of haptics, learning and teaching would relatively become easier as the students will get a hands-on experience of haptics, and will further help in understanding and improving their skills.
Global Haptic and Touch Technology Market: Regional Analysis
Europe, Asia Pacific, North America, and Rest of the World are the geographical segments on which the market can be based upon. Due to remarkable increase in demand for smartphones and tablets, Asia Pacific is expected to lead the market. In the forecast period, this region is predicted to register a strong CAGR. Whereas, high application in end user industry such as defense, automobile and healthcare, North America and Europe will contribute largely to the market share during the said period.
Companies Mentioned in Report
Immersion Corp, Precision Microdrives Ltd, AAC Technologies Holdings, Inc., Tactus Technology Inc., Haption SA, Johnson Electric Group, Maxim Integrated Products, Inc., Immersion Corp, Texas Instruments, Incorporated, Densitron Technologies Plc, and 3D systems are some of the prominent players in the global haptic and touch technology market.
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.