Dublin, April 08, 2020 (GLOBE NEWSWIRE) -- 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.

The major companies in the haptic technology market are Immersion, Texas Instruments Incorporated, Precision Microdrives Limited, Ultraleap Limited, Synaptics, 3D Systems Inc, Force Dimension, Haption, Imagis, Johnson Electric Holdings Limited, Microchip Technology Inc, Semiconductor Components Industries LLC, Senseg Oy and SMK Manufacturing Inc.

Incorporated in 2003, Precision Microdrives Limited is a company that offers engineered miniature electro-mechanical mechanisms and product solutions to medical, industrial and automotive sectors. The company has an extensive product portfolio that includes haptic technology products, geared motors, miniature motors and vibration motors. The major applications in which these products are used include mechanical aid, medical device, game consoles and electronic devices.

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
6.1.1. Market by Feedback Type
6.1.2. Market by Components
6.1.3. Market by Application
6.1.4. Country Analysis
6.1.4.1. United States
6.1.4.2. Canada
6.2. Europe
6.2.1. Market by Feedback Type
6.2.2. Market by Components
6.2.3. Market by Application
6.2.4. Country Analysis
6.2.4.1. United Kingdom
6.2.4.2. Germany
6.2.4.3. France
6.2.4.4. Spain
6.2.4.5. Italy
6.2.4.6. Russia
6.2.4.7. Rest of Europe
6.3. Asia-Pacific
6.3.1. Market by Feedback Type
6.3.2. Market by Components
6.3.3. Market by Application
6.3.4. Country Analysis
6.3.4.1. China
6.3.4.2. Japan
6.3.4.3. India
6.3.4.4. South Korea
6.3.4.5. Asean Countries
6.3.4.6. Australia & New Zealand
6.3.4.7. Rest of Asia-Pacific
6.4. Latin America
6.4.1. Market by Feedback Type
6.4.2. Market by Components
6.4.3. Market by Application
6.4.4. Country Analysis
6.4.4.1. Brazil
6.4.4.2. Mexico
6.4.4.3. Rest of Latin America
6.5. Middle East and Africa
6.5.1. Market by Feedback Type
6.5.2. Market by Components
6.5.3. Market by Application
6.5.4. Country Analysis
6.5.4.1. United Arab Emirates
6.5.4.2. Turkey
6.5.4.3. Saudi Arabia
6.5.4.4. South Africa
6.5.4.5. Rest of Middle East & Africa

7. Competitive Landscape
7.1. 3D Systems Inc
7.2. Densitron Technologies Ltd
7.3. Force Dimension
7.4. Haption
7.5. Imagis
7.6. Immersion
7.7. Johnson Electric Holdings Limited
7.8. Microchip Technology Inc
7.9. Semiconductor Components Industries Llc
7.10. Precision Microdrives Ltd
7.11. Senseg OY
7.12. SMK Manufacturing Inc
7.13. Synaptics
7.14. Texas Instruments Incorporated
7.15. Ultraleap Limited

8. Methodology & Scope

For more information about this report visit https://www.researchandmarkets.com/r/vcl8rh

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