Europe Haptic Technology Market Forecast 2017-2024
KEY FINDINGS Europe’s Haptic Technology market was calculated to be at $1878.1 million in 2016 and is expected to reach $5827.3 million by 2024, growing at an estimated CAGR of 15.24%, during the forecast period 2017-2024.
MARKET INSIGHTS The market is divided on the basis of feedback segment, component, and applications. The potential use of haptic technology in automotive safety applications combined with the increasing demand for gaming consoles and consumers electronic devices is primarily responsible for the prosperity of the market. However, the declining adoption of force feedback haptic technology due to its high associated costs might prove to be a cause of concern for the market in the coming years.
COMPETITIVE INSIGHTS The well-established companies for this market include Immersion Corporation, Precision Microdrives Ltd, Densitron Technologies, Microchip Technologies Inc, Synaptics Inc, and others.