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Deerfield Beach, FL -- (SBWIRE) -- 10/29/2015 -- The Global Haptics Technology market is estimated to be $8.9 billion in 2014 and is expected to reach $44.5 billion by 2022 growing at a CAGR of 22.28% from 2014 to 2022. Some of the key drivers of the market include increasing demand for consumer electronics, gaming applications, medical industry and technological advancements. The use of haptic technology in the medical sector by training doctors in various surgical procedures is also driving the growth of the global market. Growth of the market lies in holographic display products and automotive applications. Whereas factors such as high power consumption and high cost are inhibiting the market growth.
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The challenges associated with the haptic technology include cost, complexity, software compatibility and debugging issues. Future trend for haptics technology includes a wide spectrum of user interaction with technology. Developing haptic and touch technology to improve the efficiency of medical simulations for invasive procedure represents a good opportunity for manufacturers. Haptic Touchscreens are used for various applications such as consumer electronics, industrial, automotive, medical, point of sales and kiosks. Due to the increasing safety and security aspects, the haptic touchscreens are increasingly adopted for the automotive segment.
Global Haptics Technology market is segmented by technology, by components, by applications and by geography. Based on technology, market is segmented into tactile and force feedback. Based on components, market is classified into touch screens, input devices, actuators, drivers & controllers and sensors. Based on application, market is categorized into consumer electronics, industrial, automotive, medical and others. Based on geography, market is segmented into North America, Europe, Asia Pacific and Rest of the World. North America and Europe regions are expected to contribute widely to defence, healthcare, and automobile applications and Asia Pacific is expected to contribute widely to smart phones.
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The key players in the market include Apple Inc, Fujitsu Ltd, Haption SA, Panasonic Corp, 3D systems Corp, Immersion Corp, Texas Instruments, Incorporated, Precision Microdrives Ltd, and AAC Technologies Holdings, Inc.
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