Global Tactile Sensor Market will Reach Nearly USD 21.98 Billion, Expanding at a CAGR of 14.5% during the Forecast Period of 2028
The global tactile sensor market is forecast to reach USD 21.98 Billion by 2028, according to a new report by Reports and Data. The tactile sensor work as the adoptive sensing technology, which accumulates and provides feedback in response of the physical interaction. These sensors basically work as the cutaneous sense and the kinesthetic sense in the human body. The advanced adaptive tactile sensing technology can be sensitive to both the dynamic and static forces and is capable of measuring the internal and external state of systems. The rising requirement of the robotics technology in different sectors and an increase in the practice of machine learning and its research and development are helping in the market growth highly. Capacitive & axial array sensors will likely be in high demand during the forecast period.
APAC is forecasted to achieve the fastest growth of about 18.9% in the period 2019 – 2026, due to its extensive growth in the consumer electronics products market coupled with the massive demand for this sensor in the electronic gadgets and appliances manufacturing industries. China, Japan, and India are some of the fastest-growing markets due to the immense growth in the consumer base.
Key participants include Synaptics Incorporated, Tekscan Inc., Tacterion GmbH, Weiss Robotics GmbH, Pressure Profile Systems, Barrett Technology, Touch International Inc., Cirque Corporation, Annon Piezo Technology, and Romheld.
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The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The Tactile Sensor Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Tactile Sensor Market.
Further key findings from the report suggest
- The tactile mechanism in the machineries reacts instantly and having no latencies to mechanical force-feedback interfaces. These sensors provide directional vibration and the adoptive sensing feedbacks. The heavy-duty industrial machines perform very smooth and make the operation safe. The industrial machinery segment had a market share of 13.4% in 2018 and will likely be growing at a CAGR of 13.2% in the forecast period.
- The automotive industry is one of the largest contributors to this market. Incorporating tactile sensors in various alerting systems are highly useful for the drivers. The market revenue for this segment in 2026 is estimated to be approximately USD 2.61 Billion, having grown with a rate of 15.4% during the period 2019 – 2026.
- Using conductive rubber material helps in measuring the pressure from the external interactions. The market share is estimated to be about 8.4% by 2026 for this segment, growing at a CAGR of 13.1% during the forecast period.
- APAC is forecasted to achieve the fastest growth of about 18.9% throughout the forecast period, owing to its extensive growth in the consumer electronics products coupled with global shift of the manufacturing units in the Asia Pacific counties such as China, India, and Taiwan from the North America and European regions.
- Europe would reach a market share of 27.7% by 2026 and would grow at a CAGR of 14.1% in the forecast period. Germany has the highest number of valuable manufacturers in this region, while U.K. and France are the fastest-growing markets.
- North America is leading the global market, with 39.4% of market possession in 2018 and would continue dominating with a CAGR of 15.8% during the forecast period. U.S. possesses the highest market share in the global market.
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For the purpose of this report, Reports and Data have segmented the global tactile sensor market on the basis of the type, technology, sales type, end-use verticals, and region:
Type Outlook (Revenue: USD Billion; 2018-2028)
- Conductive Rubber
- Carbon Sponge
- Pneumatic Reset
- Micro Switch
- Carbon Fiber
Technology Outlook (Revenue: USD Billion; 2018-2028)
- Force/Torque Sensitive
- Axial Arrays
Sales Type Outlook (Revenue: USD Billion; 2018-2028)
End-Use Verticals Outlook (Revenue: USD Billion; 2018-2028)
- Aerospace & Marine
- Consumer Electronics
- Healthcare Equipment
- Industrial Machinery
- Media & Entertainment
Regional Outlook (Revenue: USD Billion; 2018-2028)
- North America
- Asia Pacific
- Latin America
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Key Advantages of Tactile Sensor Market:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Tactile Sensor industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Tactile Sensor Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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