Press Release / Technology / Some of the Major Growth Strategies Followed by Key Players in the Haptic Technology Interface Market

Some of the Major Growth Strategies Followed by Key Players in the Haptic Technology Interface Market

Haptic Technology Interface Market– Overview

The global haptic interface market is presumed to register 16% CAGR during the forecast period (2018-2023) owing to the increasing demand for gaming applications, asserts Market Research Future (MRFR). Haptic interface technology allows human to touch whatever is considered as untouchable such as radioactive waste removal, laparoscopic surgery, mobile, and robotics. It works on a technology that allows physical interaction with teleoperated remote systems or virtual environments with the use of several devices. The devices perform by using tactile feedback. They display the activity completed by hand gestures on the screen by receiving signal from the motor action command.

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Haptic Technology Interface Market - Competitive Dashboard

The prominent players operating the global haptic interface market are Immersion Corporation (US), 3D Systems (US), AAC Technologies Holdings Inc. (China), Apple Inc. (US), Haption SA (France), Qualcomm Technologies Inc (US), Nuance Communications (US), Google LLC (US), Novasentis Inc. (US), and Ultrahaptics Ltd. (UK).

Drivers and Constraints Impacting the Market

The force feedback of a gaming controller is a type of haptic interface between the controller and the user which augments the gaming experience among the users. This factor is anticipated to accelerate the global haptic interface market during the estimated period. With the rising demand for gaming applications and advances in technology in the gaming sector, the market is likely to flourish across the globe. Haptic interface is in high demand in several application areas such as education & training, automotive, healthcare, and others. Haptic interface is also utilized in the healthcare sector in order to train the doctors for several surgical procedures. Such factors are likely to accelerate the global haptic interface during the appraisal period. Moreover, the proliferation of smart electronic devices, smartphones, and wearables are presumed to contribute to the market growth. The market is also experiencing substantial investments transpired into research and development activities which further triggers the demand for haptic interface during the appraisal period.

On the flip side, the design associated with haptic interfaces is very complex which increases its maintenance cost. This is considered to impede the market growth during the appraisal period.

Global Haptic Interface Market: Segmental Analysis

The global haptic interface market has been segmented on the basis of technology, operating system, application, and regions.

By mode of technology, the global haptic interface market has been segmented into force feedback and tactile feedback. Among these, tactile feedback segment is considered to experience high revenue and growth prospects in the coming years owing to the growing implementation across consumer electronics devices such as tablets, smartphones, and laptops. Moreover, the growing usage in several other applications such as gaming, wearables, automotive, and healthcare products is accelerating the demand in the global market. By mode of operating system, the global haptic interface market has been segmented into windows and mobile OS.

By mode of application, the global haptic interface market has been segmented into gaming console, education & training, military and defense, and automotive industry. Among these, the education & training segment is considered to witness a rapid growth rate in the haptic technology market owing to its implementation in conducting performing experiments like visualizing the interaction of Nano-scale materials and understanding the feel of tissues.

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Haptic Technology Interface Market - Industry Updates

July 26, 2018: A team of scientists at the Indian Institute of Science has recently published a study of a low-cost simulator for endoscopy called EndoMimyk. The simulator endoscopy is a medical procedure which examines the interior of a body by inserting a tube with an attached camera. Such a simulator can help to bridge the temporal and spatial gap between the patient and the doctor. It is also useful in remote medical treatment and diagnosis.

Haptic Technology Interface Market - Regional Insights

Geographically, the haptic interface market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).

Among all the regions, the Asia-Pacific region is considered to dominate the global haptic interface market owing to the increasing ownership of consumer electronics and smartphones in this region. With increasing demand for wearable devices in economies such as Japan, China, India, and Korea, the adoption of the haptic interface has increased, thereby fueling the market growth. Moreover, the presence of consumer electronics device manufacturers such as Lenovo, LG, Panasonic, Meizu, Samsung, and Sony are further driving the market growth.

The North American region holds the second largest position in terms of market share owing to the advancement in technology and presence of key players in this region. Moreover, substantial interest in research and development from the private sectors towards the improvement of haptic is predicted to boost the market in the coming years.

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