- Consumer electronics and automobile sector's advancement to
provide better experience to the customers is the major factor that
is propelling the growth of global surface haptic technology
market
- The retail sector is anticipated to emerge as one of the
most lucrative domain that shall drive the growth of global surface
haptic technology market
ALBANY, New York, Feb. 20, 2020 /PRNewswire/ -- Driven by several
parameters, the global surface haptic technology market is expected
to witness notable growth between 2019 and 2027 forecast period,
says a recent study by Transparency Market Research. According to
the study, the market is projected to grow rapidly with stellar
CAGR of ~18% over the stated forecast period. As per the report,
the growth of the market is also attributed to growing demand for
touch screen devices such as monitors, smartphones and other
consumer electronic gadgets.
"Looking at the growth in demand for touch screen smartphones
and other electronic gadgets and devices, the manufacturers are
investing a massive amount in implementing the surface haptic
technology into their devices. These investments are stimulating
the developers to produce innovative products for the
manufacturers. It is because of these developments the surface
haptic technology market is anticipated to generate approximately
US$ 28 Bn in terms of revenue"
–Transparency Market Research.
Key Findings in Surface Haptic Technology Market
Study
To offer a 360 degree analysis of the market, the report
classifies the surface haptic technology market into various
segments. These insights from the report allow the players to
develop effective strategies to accelerate the growth of their
business in global surface haptic technology market. The
segmentation of the market as per the study is mentioned below:
- Besides smartphone industry, the automotive industry is
expected to emerge as the largest customer for the global surface
haptic technology market players. This is because, the industry is
developing smart cars that are equipped with sate of the art
devices and touch panels. Due to these implementations in vehicles,
the automotive industry is anticipated to emerge as one of the
biggest user of the surface haptic technology. As per the report,
the automotive segment shall account for more than 36% of overall
growth of global surface haptic technology market during the tenure
of 2019 to 2027.
- Both the hardware and software segment under the
component category have equal share in the growth of global
surface haptic technology market. This is because, one cannot stand
alone. Hardware needs an effective interface that can calibrate the
touch on the devices and act accordingly.
Explore the latest study on global surface haptic
technology market under the title: Surface Haptic
Technology Market (Component: Hardware and Software; and End-use
Industry: Consumer Electronics, Retail, Automotive, and Others) -
Global Industry Analysis, Size, Share, Growth, Trends, and
Forecast, 2019 – 2027 at
https://www.transparencymarketresearch.com/surface-haptic-technology-market.html
Global Surface Haptic Technology Market: Key Drivers
These insights from the report help the players to understand
the factors that are actually driving the growth of global surface
haptic technology market. They allow the businesses to make better
decisions that can help them have a successful future in the
surface haptic technology market. Some of the drivers highlighted
in the report are as follow:
- Technological advancements in automotive and
consumer electronics industry are the major factors that propel the
growth of global surface haptic technology market. Technologies
like IoT and AI have made the gadgets smart and intelligent.
However, they still need inputs from humans. Using conventional
input devices may lead to lagging and effectiveness of the products
might get lost. To overcome this issue, the manufacturers are
implementing surface haptic technology to their products. The
technology allows players to transfer the data effectively in
real-time, which as a result improves the performance of the
products. Hence, the development of technologies in various
end-user industries is the prime factor boosting the growth of
global surface haptic technology market during the tenure of 2019
to 2027.
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- https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=75475
Surface Haptic Technology Market: Major Challenges
The report on global surface haptic technology market by
Transparency Market Research not just enlightens the readers with
positive aspects of the market. It also helps them to cautiously
monitor the challenges that might impede the growth of surface
haptic technology market. With the help of these insights, the
players can deduce certain strategies that might help them
withstand the impacts of these challenges. Some of the challenges
are:
- The major challenge that might impede the growth of surface
haptic technology market is the fact that the devices based on this
technology require high energy to operate. Since, these devices
have several inter-connected components the power consumption of
these devices is quite high. Therefore, to keep the device running,
the user might need a high performance power source which might not
be pocket-friendly. This roadblock can significantly hamper the
growth of global surface haptic technology market during the
tenure.
However, the manufacturers are developing devices that can
perform optimally with less power consumption. With research and
development, the developers are developing devices that can not
only work on low power, but also store electricity for further
applications. These developments shall help the surface haptic
technology market to maintain its momentum and grow steadily during
the estimated time frame.
Request for Custom Research -
https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=75475
Global Surface Haptic Technology Market: Regional
Analysis
Asia Pacific is expected to
dominate the regional front of the global surface haptic technology
market. This dominance of the region is the result rapidly growing
smartphones and consumer electronics industry in China and India. Moreover, the preference of touch
screen devices along with data oriented technologies in
India further accelerates the
dominance of the region in the market. Looking at the growth
potential, several players are focusing their interest towards
Asia Pacific which might further
propel the prominence of the region in global surface haptic
technology market during the tenure of 2019 to 2027.
Competitive Analysis
The global surface haptic technology market is highly
competitive and equally fragmented. This scenario of the market is
the result of growing technological companies that are developing
effective solutions for various end-user industries. However, the
massive growth potential of the market is attracting several new
players to enter the global surface haptic technology market but
the road to success is not that easy.
The dynamics of global surface haptic technology market is
dominated by several prominent players. This prominence might
hamper the entry of new players in the surface haptic technology
market.
To overcome this challenge, the new players are merging and
collaborating with various businesses in the global surface haptic
technology market. These strategies help the players to acquire
effective resources that might further help them to sustain the
challenging landscape of global surface haptic technology
market.
Analyze baby surface haptic technology market growth in 30+
countries including US, Canada,
Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan,
India, and South Korea. Request a
sample of the study.
The global surface haptic technology market is segmented on
the basis of:
Surface Haptic Technology Market, by Component
Surface Haptic Technology Market, by End-use Industry
- Consumer Electronics
- Automotive
- Retail
- Others
Surface Haptic Technology Market, by Region
- North America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
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