Automotive Haptic Technology Market | Exactitude Consultancy Reports
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Exactitude Consultancy Latest Published Automotive Haptic Technology Market Research Report 2022 by Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, And Heavy Commercial Vehicle), Application (Accelerator, HMI, Seats, Steering), Sales Channel (OEM And Aftermarket) And Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Global trends and forecast from 2023 to 2029
The global automotive haptic technology market is expected to grow at 11% CAGR from 2023 to 2029. It is expected to reach above USD 5.76 billion by 2029 from USD 2.25 billion in 2022.
The global automotive haptic technology market will be driven by enhanced fuel efficiency in haptics-enabled accelerators. Manufacturers have been forced to include a great number of electronic materials in vehicles to secure the safety of drivers and passengers due to the growing demand for safety, security, and comfort. One of the driver assistance systems, for example, can manage a significant amount of fuel consumption in a car. In addition, the growing popularity of connected automobiles and self-driving cars is driving vehicle functionality such as dynamic response capability. Steer by wire, shift by wire, throttle by wire, and automatic manual gearbox are some of the components that have replaced manual systems in vehicles.
The global automotive haptic technology market can be segmented based by vehicle, application, sales channel, and region.Based on application, the automotive haptic technology market can be classified into Human Machine Interface (HMI), accelerator, steering, and seats. Due to an increase in demand for advanced infotainment systems, the HMI segment is expected to grow at a significant CAGR. Haptic technology increases vehicle safety while also preventing driver attention. The navigation system in vehicles is used by haptic technology, which aids the driver in navigating. It also includes advanced features including cruise control and a jam assist system. During the forecast period, the steering category is expected to acquire market share.
The automotive haptic technology market can be divided into three categories based on vehicle type: passenger vehicle, light commercial vehicle, and heavy commercial vehicle. Due to the increasing rate of adoption of vehicle connectivity and use of HMIs, the passenger vehicle sector accounted for the largest part of the worldwide automotive haptic technology market, fueling demand for automotive haptic technology.
The automobile haptic technology market can be divided into OEM and aftermarket segments based on the sales channel. Due to automakers’ adoption of haptic technology in newly sold vehicles, the OEM segment held a significant portion of the market. The aftermarket industry is predicted to grow because to increased customer knowledge of the technology, price reductions, and the ageing of newly sold vehicles with haptic technology that require replacement.
The automotive haptic technology market key players include Alps Electric, Continental, Panasonic, Valeo, Visteon, DAESUNG, Marquardt, Methode Electronics, SMK, and TOKAIRIKA.
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