Amid the COVID-19 crisis, the global market for Haptics estimated at US$12.9 Billion in the year 2020, is projected to reach a revised size of US$40.9 Billion by 2027, growing at a CAGR of 17.9% over the period 2020-2027.
Tactile Feedback, one of the segments analyzed in the report, is projected to grow at a 19% CAGR to reach US$25.2 Billion by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Force Feedback segment is readjusted to a revised 16.2% CAGR for the next 7-year period.
This segment currently accounts for a 42.3% share of the global Haptics market.
The Haptics market in the U. S. is estimated at US$3.8 Billion in the year 2020.
The country currently accounts for a 29.64% share in the global market.
China, the world second largest economy, is forecast to reach an estimated market size of US$7 Billion in the year 2027 trailing a CAGR of 17.1% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 16.3% and 15.2% respectively over the 2020-2027 period.
Within Europe, Germany is forecast to grow at approximately 12.9% CAGR while Rest of European market (as defined in the study) will reach US$7 Billion by the year 2027.
The publisher brings years of research experience to this 18th edition of our report.
The 134-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021.
A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others
- AAC Technologies Holdings Inc.
- CyberGlove Systems LLC
- Entact Robotics Inc.
- Force Dimension
- Haption SA
- Immersion Corporation
- Moog Inc.
- MPB Technologies Inc.
- Murata Manufacturing Co., Ltd.
- Novasentis, Inc.
- Novint Technologies Inc.
- Quanser Inc.
- Reachin Technologies AB
- Senseg OY
- Tactical Haptics, LLC
- Tactus Technology, Inc.
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