Significant Growth for Tactile Sensor Market in forecast period 2019-23 is estimate

The global tactile sensor market is expected to reach US$ 16,001.2 Mn by 2023, growing at a significant CAGR during the forecast period. A tactile sensor primarily comprises an array of touch sensitive sites and these sites are capable of measuring more than one property. The growing adoption of automation and robotics across industrial applications is further expected to propel the market growth during the forecast period. The rising trend of implementing touch screen display systems across industrial, consumer, automotive, and medical use, is further expected to drive the demand for tactile sensor across the globe.

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A tactile sensor incorporated in clothing act as an interactive interface such as artificial skin in robotics that is being used in medicine, health monitoring, and sports. This technology primarily has an electrical impedance tomography technique to evaluate resistance variations on the sensor, which is caused by the contact of fingertips. Moreover, it is further expected that there will be a rise in the growth of these types of future robotics.

Key Insights:

·         Increasing number of electronics manufacturers across the Asia-Pacific and the rising electronic purchase by developing countries are expected to drive the market.

·         Growing digitization and factory automation of production processes are expected to increase the demand for capacitive tactile sensor across healthcare and automotive industries.

Market Dynamics:

The market is expected to witness growth during the forecast period, owing to the adoption of tactile sensor for shape & contact detection and force distribution in end-user industries. Moreover, due to their high sensitivity, these sensors are being increasingly adopted in the manufacturing of automotive components such as brakes, clutches, door seals, and fuel cells, among others. Moreover, the introduction of the state-of-the-art flexible tactile sensor that use distinct sensing structures, along with piezoresistive or capacitive schemes to achieve higher-pressure sensitivity, is further expected to drive the tactile sensor demand during the forecast period.

The market is further witnessing growth owing to the rising interest in safety where the tactile sensor are significant with their technologies. Moreover, the increasing development to set up touch-based sensors to replace old buttons usage will further reduce accidents and improve driver’s concentration as well. Moreover, these changes involve conformability, maintenance, robustness, reliability, and system integration, with the effective use of materials. Many organizations are being influenced by this technology and various companies are planning long-term investments such as Tekscan, Cirque Corporation, and others.

Competitive Intelligence

The key tactile sensor manufacturers across the globe include, Barrett Technology Tekscan Inc., Pressure Profile Systems, Weiss Robotics, Inc. APC International Ltd., Cirque Corporation, Tacterion GmbH, Synaptics Incorporated, Airmar Technology Corporation, Inc., Touch International Inc,  X-sensors, TRS Technologies,  and Annon Piezo Technology, among others.

Key Questions Answered

·         What are the key drivers, restraints, opportunities, and challenges in the market and how are they expected to impact the market?

·         What are the microeconomic and macroeconomic factors impacting the overall growth of the market?

·         Who are the key market players and their key competitors?

·         Who are the key market players at different stages of the value chain?

·         What are the recent trends in the market? (M&A, partnerships, new product developments, expansions)

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