Haptic Technology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Albany, NY -- (SBWire) -- 01/09/2017 --The global haptic technology market is driven primarily by the rising demand for smart devices and consumer electronics such as smartphones, according to a new report from Transparency Market Research (TMR). The market's historical trajectory up to 2015 is analyzed in detail in the report, which also takes a close look at the haptic technology market's conditions in 2015. The granular analysis of the haptic technology market's 2015 figures serves as a reliable basis for predictions regarding the market's development between 2016 and 2024. The report is titled 'Haptic Technology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.'

The global haptic technology market is segmented on the basis of feedback into force feedback and tactile feedback. Of these, the tactile feedback segment held the leading share in the global haptic technology market in 2015 due to its widespread use in consumer electronics such as smartphones. Smartphone manufacturers have started to employ tactile haptic technology in diverse ways in the last few years due to the increasingly intense competition in the market. Due to this, tactile feedback is likely to remain the dominant application of haptic technology in the coming years.

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On the basis of end use, the global haptic technology market is segmented into the consumer electronics, automotive, aerospace and defense, and healthcare industries. The report assesses the commercial as well as research applications of haptic technology in each of these segments in order to provide readers with a granular overview of the market. Of these, the consumer electronics industry is the dominant leader in the haptic technology market, followed by the aerospace and defense sector. The latter was one of the first adopters of haptic technology, due to the precise feedback it can provide in various combat situations, and is likely to contribute significantly to the global haptic technology market in the coming years.

Geographically, the global haptic technology market is segmented into North America, South America, Asia Pacific, Europe, and the Middle East and Africa. Of these, Asia Pacific was the leading contributor to the global haptic technology market in 2015 and is likely to extend its lead over the 2016-2024 forecast period due to the steady rise in the demand for consumer electronics in emerging economies such as China, India, Thailand, South Korea, Taiwan, Japan, Indonesia, Malaysia, and Vietnam. South America and the Middle East are also likely to remain key markets for haptic technology in the coming years due to the steady growth of the consumer electronics industry.

The report also sheds light on the competitive landscape of the global haptic technology market in order to provide readers with a comprehensive assessment of the market. Leading companies in the haptic technology market, such as Senseg Oy, SMK Corporation, Haption SA, Ultrahaptics, Force Dimension, Microchip Technology Inc., Texas Instruments Inc., ON Semiconductor Corporation, IMAGIS Co. Ltd., Synaptics Incorporated, and Precision Microdrives Ltd.