"Global Haptic Technology Market Research Report 2016" by OBRC, is an extensive study on present state of the Haptic Technology Market. The research report includes a basic outline of the industry comprising definitions, classifications, applications and industry structure. The synopsis is professionally researched and articulated for the international markets gives an insight of the market via competitive landscape analysis, development trends and significant regionals analysis. Upcoming and present development plans and policies are examined, including manufacturing operations and cost framework.

Haptic technology also known as haptic communications or kinaesthetic communication reinvents the sense of touch by applying forces, vibrations, or motions to the user. Video game makers were the first to use haptic technology such as vibrating joysticks, controllers and steering wheels. Haptic technologies are being used in graphical user interface such as to feel graphic buttons on the screen. By means of haptic technology surgeon can train to perform the most delicate operation via computer. Haptic technology can be used in defence to simulate battlefield and train soldiers. In Aerospace haptic technology can be used for training fighter jet pilots via simulator.

The global haptics technology market is anticipated to reach $29.84 Billion by 2022 at a CAGR of 25.39% between periods 2016-2022. Significant applications in smartphones, tablets, wearables, gaming devices of haptic technology is set to drive the global haptic technology market for the forecasted period.

Growing use of haptic technology in consumer applications, medical industry, and personalized products are driving the global haptic technology market for the forecasted period. Automobiles, products for visually impaired, wearables and holographic display are some of the key market opportunities for haptic technology. Automobile companies are using haptic technology for passenger and driver safety. Holographic display and wearables have wide applications in defence and healthcare.
When it comes to haptic technology in healthcare sector innovations revolve around the realism and relevance of the subject under study. Haptic technology can be used to imitate patients, anatomic regions, a given clinical tasks mirroring real life situations wherein medical service are provided. 3D representation of body parts, computer enhanced mannequins (CEM), patient problem management and realistic high tech patient simulators form a part of haptic technology applications.
High power consumption of haptic technology device is set to restraint market growth. High cost of the device, software compatibility, lack of technology awareness and right design of products are some factors that hamper the growth of global haptic technology market for the forecasted period.

The research report is segmented in terms of technology, component, and applications. By technology market is sub segmented into tactile feedback and force feedback. Component is classified into actuators, sensors, software and drivers & controllers. Actuators are further classified into eccentric rotating mass, piezoelectric actuator, linear resonant actuator, and electro active polymer actuators. Eccentric rotating mass actuators applications in smartphones, surgical devices, gaming consoles. Piezoelectric actuators are commonly used in MRI scans and helicopter rotor blades. Linear resonant actuators are used in telescopes and automobiles. Electro active polymer actuators have applications in robotics and in surgical devices. Application is divided into consumer, automotive, medical & healthcare, industrial, and others. Consumer market is sub segmented into smartphones & tablets, gaming devices and others.

Some of the leading companies in haptic technology market are, Immersion Corporation, Texas Instruments Inc., Johson Electric Holdings Ltd., Precision Microdrives Ltd., Hapiton SA, 3D systems corporation, Maxim Integrated Products Inc., tactus Technology Inc., AAC Technologies Holdings Inc., Densitron Technologies PLC, Dexta Robotics, NeuroDigital Technologies, Virtuix, Novint Technologies, and SensAble Technologies. The report provides comprehensive information like company profile, sales, revenue, market share and contact information.

Joint ventures, agreements, partnerships, collaborations, expansion in different countries,and strengthening supply chain network with distributors are some of the strategies taken by pioneers in haptic technology market, to increase their global presence. Research & development investments are high with the urge to develop quality and user friendly products.

The research report analysed haptic technology market geographically. Region wise the report is segmented as North America, Europe, Asia Pacific, and Rest of the World. Overall defence, healthcare, and smartphones & tablets applications of haptic technology are growing fast for the forecasted period. North America and Europe are the largest market for haptic technology. Increasing applications in healthcare, automobiles, defence and consumers are backing to the growing market of haptic technology in North America and Europe.

Asia Pacific is the fastest growing market for haptic technology for the forecasted period. With large income disposable population, applications for haptic technology in Asia Pacific is focused on consumer segment especially in smartphones and tablets. Countries like China, Japan, South Korea, Australia, and India are among the nations in Asia Pacific leading in haptic technology market. New low cost innovations are driving the haptic technology market in China and Japan. Medical applications of haptic technology are most sought in high density population countries like China and India.