According to a recent study from market research firm Global Market Insights, the haptic technology market is set to grow from its current market value of more than $7 billion to over $10 billion by 2026, gaining remarkable traction over the 2020 to 2026 period.
The haptic technology market is set to witness immense growth in coming years owing tothe increasing scope for haptics in the gaming industry and rising adoption of haptic systems in consumer electronic devices like tablets and smartphones. The aim of haptic technology is to stimulate the sensation of touch with several mechanisms. The technology is also referred as the kinaesthetic communication.
These technologies can further be used along with other sensory mechanisms so as to offer the user a much more realistic experience. Since it is a sensory technology, haptics can works together with sensors that are capable of detecting the environment in which the technology is being functioned, be it virtual reality, remote device or an automobile, game, thereby providing a suitable response.
The use of haptic technology can be seen in the automotive industry, particularly in technologies which directly involve the drive or the person in the automobile. It is to be noted that each type of haptic technology has a diverse use in automobiles. Citing an instance, ERMV motors are frequently utilized in dashboards, built-in Sat Nav’s, touch screens, and in central control systems which wars the driver when the engine is probably going to overheat.
This technology is also broadly used in telerobotics or teleoperation. In a telerobotic system, the human operator mainly controls the movements of the robot which is placed at a distance. Some of the teleoperated robots are generally restricted to perform simple tasks, like focusing a camera and then sending back visual pictures.
In a more advanced type of teleoperation, referred as telepresence, the human operator has a sense of being inside the environment of the robot. Haptics technology, in addition to audio and visual cues, also makes it possible to incorporate touch cues.
The haptic technology market is bifurcated in terms of feedback, component, application, and regional landscape.
Based on feedback, the haptic technology market is categorized into force and tactile. The force feedback segment accounted for about 30% of the market share in 2019, owing to its increasing use in robotics and healthcare industry.
In terms of application, the overall haptic technology is classified into robotics, automotive, healthcare, gaming, consumer electronics, and others. Rising integration of haptics technology in smartphones and tablets will drive the market demand for consumer electronics over the forecast timeframe.
From a regional frame of reference, the Middle East & Africa haptic technology market will witness considerable growth owing to the rising inclination of consumers in the region towards advanced gaming equipment for entertainment purposes.