Global Haptic Technology Market Size With CAGR Status, Competitive Landscape, Industry Share, Future Trends, Growth Opportunities And Forecast To 2022-2031

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According to Kenneth’s study, the haptic technology market is expected to grow from $2.6 billion in 2021 to $4.6 billion by 2026, at a CAGR of 12.0%.

Kenneth Research in its repository of market research reports recently added a report on the global haptic technology market which highlighted the latest trends, key opportunities, drivers and challenges associated with the market growth over the forecast period, i.e., 2022-2031.

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The US market is recovering rapidly; In a May 4, 2021 statement, the U.S. Bureau of Economic Analysis and the U.S. Census Bureau mention the resumption of U.S. international trade in March 2021. The country’s exports reached $200 billion, up 12 .4 billion in February 2021. Following the continued progressive trend, imports amounted to $2104.5 billion, up from $16.4 billion in February 2021. However, while COVID19 is still haunting the economies around the world, the average year-over-year (year-over-year) exports to the United States. decreased by $10.0 billion from March 2020 to March 2021, while imports increased by $20.10 billion over the same period. This clearly shows commenting the market is trying to recover and this will have a direct impact on the Healthcare/ICT/Chemicals industries weighing a huge demand for the products in the global Haptics Technology market.

Download a sample of this strategic report: https://www.kennethresearch.com/sample-request-10346960

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Additionally, rising ICT expenditure across the globe for hardware, software, services, new technologies, and telecommunications, among others, is also expected to contribute to the growth of the market in the coming years. Spending on new technologies reached about $0.6 million in 20110 and is expected to reach nearly $1.3 million by 2023. dollars in 2019 and are increasing.

The global haptic technology market is valued at around $2.3 billion in 2019 and is expected to grow with a healthy growth rate of over 12% during the forecast period 2020-20210. Haptic technology is a bridge between the connected device and the user that provides force feedback and tactile feedback to users on the sense of touch by transmitting forces, vibrations and movements to users. This technology provides higher tactile vibrations when using electronic devices and results in a precise virtual experience. A key driver for the growth of the global haptic technology market is the growing demand for consumer electronic devices such as smartphones, tablets, virtual interfaces, media players, and home appliances. Additionally, haptic response finds its applications and works as a persuasive tool in wearable devices, including wristbands, smartwatches, and fitness trackers, with better battery life, faster controls, and user-friendly interfaces. .

For example, according to Statista, in the space of three years, the number of connected wearable devices in the world has more than doubled, from 325 million in 2016 to 1022 million in 2019. It is estimated that the number of devices will reach more than 1 billion by 2022. Additionally, owing to the growing demand for haptic technology, players in this market are taking initiatives for their expansion in the market.

For example: In September 2020, Immersion signed a multi-year license extension for the continued use of TouchSense applications and haptic technology in its mobile devices with LG Electronics (South Korea). LG is expected to continue using immersive haptics across its entire smartphone lineup.
In November 2020, Ultraleap signed an agreement to bring Ultraleap’s hand tracking and in-flight haptics technology to customers in the United Arab Emirates with IPlan Ideas Events and its division, IPlan Ideas Technologies (IPI Tech), a subsidiary of the Hawas group based in the United Arab Emirates.

However, the cost of this technology is extremely high which may not be reasonable for many companies, this may hamper the market growth during the forecast period of 2020-20210.

Regional analysis of Global Haptic Technology Market is priced into account for the key regions such as Asia-Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the largest region in the world in terms of market share due to the increase in disposable income, which in turn has widened the acceptance of consumer devices in the region. Whereas, Europe is also expected to show the highest growth rate/CAGR during the forecast period 2020-20210, owing to increasing consumer spending on advanced technological electronic devices.

The major market players included in this report are:

About Texas Instruments
Johnson Electric
AAC technologies
TDK
Microchip technology
3D Systems, Inc.
Strength Dimension
Immersion society
Maxim Integrated Product
Precision Microdrives Ltd

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The objective of the study is to define the market size of different segments and countries in recent years and to forecast the values ​​to the next eight years. The report is designed to incorporate qualitative and quantitative aspects of the industry in each of the regions and countries involved in the study. Furthermore, the report also provides detailed information about the crucial aspects such as drivers and challenges that define the future growth of the market. In addition, the report should also incorporate the opportunities available in the micro markets for the stakeholders to invest along with the detailed analysis of the competitive landscape and application offerings of key players. The detailed segments and sub-segments of the market are explained below:

By Component:

Material
Software

By Feedback Type:

Touch
Strength

Joint request:

Consumer Devices
Automotive and Transportation
Education and Research
Others

By Region:

North America
AMERICAN.
Canada
Europe
United
Germany
France
Spain
Italy
DEER

Asia Pacific

China
India
Japan
Australia
Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the world

In addition, the likely years for the study are as follows:

Historical year-20110, 20110
Reference year – 2019
Forecast period – 2022 to 2031

Target Audience of Global Haptic Technology Market in Market Research:

Main Consulting Firms and Advisors
Large, medium and small businesses
Venture capitalists
Value Added Resellers (VAR)
Levels of knowledge providers
Investment banks
Investor

Get the inside scoop with a sample report – https://www.kennethresearch.com/sample-request-10346960

The report further discusses market opportunities, compound annual growth rate (CAGR), competition, technological innovations, analysis of market players, government directives, export and import analysis ( EXIM), historical earnings, forward costs, etc. in the following regions and/or countries:

North America (US and Canada) Market Size, YoY Growth, Market Player Analysis and Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, YoY Growth and Market Player Analysis and Opportunity Outlook
Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC COUNTRIES, Poland, Turkey, Russia, Rest of Europe) Market Size, YoY Growth Market Player Analysis and prospects of opportunities
Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, YoY Growth and Market Player Analysis and Opportunity Outlook
Middle East & Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East & Africa) Market Size, YoY Growth Analysis market players and opportunity outlook
About Kenneth Research

Kenneth Research provides syndicated, scheduled reports that help industry professionals and organizations decipher market trends to make important decisions and plan strategies. We cater to a wide range of industries including healthcare and pharmaceuticals, ICT and telecommunications, automotive and transportation, energy and power, chemicals, consumer packaged goods and food, aerospace and defense, among others. Our research team regularly monitors and analyzes the industry to deliver strategic business advisory services globally. At Kenneth Research, we are adept at capturing descriptive information on critical topics to help our clients make informed decisions.

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