Stratview Research has recently published a report on the Haptic Technology Market. This strategically evaluated report provides a detailed overview that presents today's market scenario and future possibilities, as well as market intelligence and information, for a 5-year period from 2022 to 2028.

The market is segmented by Feedback Type (Tactile and Force), by Component Type (Actuators, Drivers Controllers, and Software), by Application Type (Consumer Electronics, Gaming, Automotive, Healthcare, and Robotics), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Haptic Technology Market Analysis:

Stratview Research’s report discusses the segment-wise current market condition. Also, it offers an estimation of future growth opportunities. As per the estimation, the Haptic Technology Market is estimated to grow at a healthy CAGR of 12.03% during the forecast period to reach from USD 2.73 billion in 2021 to USD 6.07 billion by 2028.

Market Dynamics

These factors are expected to boost the demand for the market in the coming years:

• Major factors contributing to the growth of the market are the growing utilization of haptic technology in mobiles, cars and IoT appliances to achieve improved product design.
• And operating accuracy along with several benefits offered by it, such as greater sound, touch, and visual effects in touchscreen devices.

Some of the companies drive the market growth:

• 3D Systems
• Force Dimension
• Haption S.A.
• Aito B.V.
• Haptx Inc.
• Immersion Corporation
• On Semiconductors
• SENSEG OY
• Texas Instruments Inc.
• Ultrahaptics (Ultraleap).

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Segments Analysis

By Feedback Type

The market is segmented as tactile and force. Tactile is expected to witness a significant growth rate in the market during the assessment period owing to changing consumers leaning towards a simulating experience in smartphone experience.

In addition, tactile feedback offers features such as the personalization of text alerts and other notifications. This is further expected to drive market growth during the assessment period. 

By Region

Europe is estimated to be the leading region in the market owing to increasing consumer spending on technologically-progressive consumer electronic devices. The continuously rising consumer expenditure on current infotainment systems, offering simulated touchscreen displays for enhanced safety and driving experience in passenger cars and commercial vehicles is further expected to drive the market growth over the following period.

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