Dublin, Sept. 27, 2021 (GLOBE NEWSWIRE) -- The "Tactile Sensor Market Size, Share & Analysis, By Product Type, By Application, By End-Use, And By Region, Forecast To 2028" report has been added to ResearchAndMarkets.com's offering.
The global tactile sensor market size is expected to reach USD 21.98 Billion in 2028, and register a CAGR of 14.5% during the forecast period. Increasing development of smart homes, smart parking, smart kitchens, etc., and need for touch panel integration to operate smart devices and equipment are some of the major factors driving market growth. Other applications of tactile sensors include machines and robots in manufacturing units, medical sector, and home appliances.
Market Size - USD 7,358.4 Million in 2020
Market Growth - CAGR of 14.5%
Market Trends - Increasing R&D to develop advanced tactile sensors for applications such as robot-assisted surgeries (RAS), and artificial human skin that helps people with disabilities or who suffer from loss of tactile sense to gain a sense of touch.
In automobiles, tactical sensors are integrated for obtaining useful information such as enhanced driving alerts and informative notifications using adoptive haptic feedback technology. This is another major factor expected to boost market growth to a significant extent.
Complexity in construction of array, high cost required for research and development, and need for high power consumption are factors that could hamper restrain market growth to some extent.
Some Key Findings From the Report:
The capacitive tactile sensor product type segment accounted for major revenue share in 2020. The axial array sensor segment is expected to register the highest revenue growth rate during the forecast period.
Among the application segments, the consumer electronics application segment accounted for the largest revenue share of 31.7% in 2020. Growing production and sales of consumer electronics such as smartphones, smart televisions, among others, clubbed with need for tactile sensors to obtain required information from these devices are factors driving revenue growth of this segment.
Among the end-use segments, the OEM segment accounted for comparatively larger revenue share in 2020, whereas, the aftermarket segment is expected to register the highest revenue growth rate during the forecast period.
The North America market accounted for major revenue share in 2020, and is expected to continue with its dominance over the forecast period.
Europe market is expected to account for second-largest revenue share in the global tactile sensor market in 2020.
The Asia Pacific market was valued at USD 1,839.6 Million in 2020, and this regional market is expected to register the highest revenue growth rate during the forecast period. This is due to shifting preference of international players to set-up manufacturing units in countries in this region, and need for tactile sensors in various end-use manufacturing units.
Key companies profiled in the report include Synaptics Incorporated, Weiss Robotics GmbH, Pressure Profile Systems, Barrett Technology, Airmir Technology Corporation, Annon piezo Technology Co. Ltd., and Cirque Corporation. The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Tactile Sensor Market Segmentation & Impact Analysis
4.1. Tactile Sensor Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
184.108.40.206. Substantial growth of the consumer electronics market
220.127.116.11. High demand for tactile sensors in healthcare equipment
18.104.22.168. Technological advancements and proliferation of the touch-screen panels
4.2.3. Market restraints analysis
22.214.171.124. Complex array construction and expensive research & development
126.96.36.199. Concerns with high power consumption
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
Chapter 5. Tactile Sensor Market By Type Insights & Trends
Chapter 6. Tactile Sensor Market By Technology Insights & Trends
Chapter 7. Tactile Sensor Market By Sales Type Insights & Trends
Chapter 8. Tactile Sensor Market By End-Use Verticals Insights & Trends
Chapter 9. Tactile Sensor Market Regional Outlook
Chapter 10. Competitive Landscape
Chapter 11. Company Profiles
Weiss Robotics GmbH
Pressure Profile Systems
Airmir Technology Corporation
Annon piezo Technology Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/onpp08
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