Haptics Technology Market Worth $29.84 Billion by 2020

DALLAS, May 8, 2015 /PRNewswire/ --

According to the new market research report " Haptics Technology Market by Technology (Tactile & Force Feedback), by Components (Actuators, Drivers & Controllers, Sensors, Software), Application (Consumer, Automotive, Medical), and Geography - Analysis and Forecast up to 2020", published by MarketsandMarkets, the Haptics Technology Market is expected to reach $29.84 Billion by 2020 at an estimated CAGR of 25.39% from 2014 to 2020.

Browse 74 market data Tables and 85 Figures spread through 187 Pages and in-depth TOC on  "Haptics Technology Market".

http://www.marketsandmarkets.com/Market-Reports/haptic-technology-market-443.html

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The haptics technology interfaces with the user through the sense of touch. It provides tactile feedback and force feedback to users through the sense of touch by applying vibration, forces, and motion to the user. It is a promising technology with wide applications in the consumer, automotive, medical, and industrial sectors. Currently, tactile feedback has become a standard feature in mobile phones and video games.

Video game makers are utilizing the haptics technology in joysticks, controllers, and steering wheels and future video games would allow the players to feel and manipulate virtual avatars and tools by incorporating haptics into virtual environments. There has been significant progress in the use of haptics technology in the medical sector for training doctors in surgical procedure.

The major challenges associated with Haptics Technology Market include complexity, cost, and debugging issues. Moreover, another challenge for the haptics technology pertains to software compatibility. Future trend for haptics technology includes a wide spectrum of user interaction with technology. Currently, most of companies are focusing on conducting research pertaining to possibilities of tactile feedback interaction with holograms, which may result in advancements in applications such as automotive, medical, gaming, movies, and other industries.

This report describes market trends, drivers, and challenges with respect to the global Haptics Technology Market, and forecasts the market size from 2014 to 2020, segmented on the basis of component, technology, application, and geography. This global report provides a detailed view of the market across regions, namely, North America (the U.S., Canada, Mexico), Europe (France, Germany, the U.K., Others), Asia-Pacific (Japan, China, India, South Korea, Rest of APAC), and RoW (Middle East, Latin America, Africa).

The competitive landscape of the Haptics Technology Market presents a very interesting picture. The market is witnessing new product launches, large scale collaborations, and agreements and partnerships across the value chain, with a number of tier-one players around the globe.

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Major players in the global Haptics Technology Market include Immersion Corp (U.S.), AAC Technologies Holdings, Inc. (China), Densitron Technologies Plc (U.K.), Haption SA (France), Johnson Electric Group (China), Maxim Integrated Products, Inc. (U.S.), Tactus Technology Inc. (U.S.), Precision Microdrives Ltd (U.K.), Texas Instruments, Incorporated (U.S.), 3D systems Corp (U.S.), and many more.

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