The spurring demand for consumer electronics, surging adoption of robotics and automation solutions in industrial and consumer electronic systems in several end-use industries, and rising technological advancements are expected to support the tactile sensor market growth. Tactile sensors refer to data acquisition devices that operate on the human haptic touch technology.
Currently, the market is fragmented in nature, with the presence of numerous players, who are increasingly focusing on product launches to expand their geographical presence. The soaring use of touchscreen panels in wearable electronic devices, tablets, smartphones, remotes, and game controllers is a prominent growth driver for the tactile sensor market. For instance, in 2019, Pressure Profile Systems Inc. created a wrist sensor to monitor wrist pressure, to map and measure the comfort of those wearing watchbands, activity trackers, and wristbands.
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This sensor recognizes the areas of discomfort or high pressure and aids in improving the health of individuals. Such technological advancements in the sensor technology will also facilitate the market growth in the coming years. Geographically, North America held the largest share in the tactile sensor market in the recent past, and it is expected to continue its dominance in the coming years.
Whereas, the Asia-Pacific (APAC) region is projected to exhibit the fastest growth in the foreseeable future due to the burgeoning demand for consumer electronics, surging disposable income, and flourishing appliance manufacturing sector. Moreover, the global shift of manufacturing facilities from European and North American countries to China, Taiwan, and India, owing to the flexible government regulations and low operational cost in these countries, is propelling the APAC market.
Thus, the rising usage of consumer electronics and increasing advancements in the sensor technology will fuel the market growth in the coming years.