Haptics Technology Market- By Feedback Type; By Components; By Application and By Geography - Forecast (2024 - 2030)

Haptics Technology Market Size is forecast to reach $ 6006.6 Million by 2030, at a CAGR of 19.80% during forecast period 2024-2030.Based on the feedback type available the haptic technology is segmented as force and tactile. Among the two different types available tactile is having the highest market share of $11.80 billion in the year 2017 and is anticipated to grow at a CAGR of 20.9% from the year 2018-2022 and force feedback is valued $7.75 billion in the year 2017 and is expected to grow at a CAGR of 17.9% from the year 2018-2022. Increasing usage of haptic technology in healthcare and consumer market may increase the market share for haptic technology.

Haptic technology is the sense of touch which can interact with computers, PC’s and many others. The first use of haptic technology is aircrafts that relied on servomechanism system to operate control systems. Haptic technology can also be used to study human sense of touch by enabling the creation of controlled virtual objects. Haptic technology market is segmented based on the feedback types and also the components available. There are different components used in haptic technology like actuators, haptic drive and microcontroller unit. Actuators are the electronic devices which convert the electric energy to mechanical energy. Haptic actuators convert electric signals to vibrate which can be sensed by the user operating the end product. 

The major applications of haptic technology includes in many industries like aerospace, automotive, medical and in many other industries. In automotive haptic technology is applied for remote keyless entry whereas in consumer electronics is haptic technology is applied in mobile phones, PC’s, tablets and also in gaming devices.

• Haptic technology is increasing its applications in textile industry. By using haptic technology in textile industry the customers will be able to feel the texture of the clothes by using internet.
• Disney research has launched a force jacket by using haptic technology which can create embodied experiences such as AR and VR.by using this force jacket the person can feel the haptic effects such as hug, pinch and it can even create a haptic effect of snake slithering around the body.
• Haptic technology in gloves which is using virtual reality. By using these gloves it monitor how the person is interacting with the real objects. This haptic gloves measures how the skin is stretching or contracting when a person lift any object. When an object is lifted the object is pressed in different places of the hand haptic gloves measures how hard the object is pressed. 
• Cinionic and ultrahaptics have launched a turnkey visualization solution that engages the people in an interactive sensory experience in movie theatres. People in movie theaters are going to experience a thrill ride of sorts engaging in game play with virtual tools and feeling sensations like static fields of electricity, bubbles and other phenomena without touching the surface of the screen. There is even a possibility for people in avatar like gaming where an individual is actually present in the story. 
• Haptic technology is increasing its application in healthcare. By using this technology the trainee surgeons are able to carry out a virtual operation using haptic controls. This process of conducting a virtual operation as a trainee will reduce the risk of cutting a human being.

Who are the Major Players in Haptics Technology market?

The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.

 

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Key Market Players:

1. Densitron Technologies PLC
2. Johnson Electric Holdings Limited.
3. AAC Technologies
4. Texas Instruments Incorporated.
5.  Immersion