Market Research Report

Global Haptic Technology Market Research Report: Forecast (2023-2028)

By Component (Hardware, Software), By End Users (Consumer Devices, Automotive & Transportation, Education & Research, Healthcare, Commercial & Industrial, Others), By Region (North...America, South America, Europe, The Middle East & Africa, Asia-Pacific), By Company (Texas Instruments Inc., Johnson Electric Holdings Ltd., AAC Technologies, TDK Corporation, Microchip Technology Inc., Immersion, Semiconductor Components Industries LLC, Precision Microdrives, Synaptics Inc., Ultraleap, Infineon Technologies AG, Novasentis Inc., Renesas Electronics Corp., Vybronics, Imagis, and Others) Read more

  • ICT & Electronics
  • Jul 2023
  • 198
  • PDF, Excel, PPT

Market Definition

Haptic technology, commonly referred to as haptics, is a type of technology that enables individuals to interact with & receive input from a digital device or virtual world by using their sense of touch. It has a wide application in the automotive industry, remote communication, medical simulation, gaming, AR & VR, etc. As technology evolves, haptic feedback is likely to become even more sophisticated & integrated into all aspects of our lives, resulting in more immersive & realistic digital experiences.

Market Insights & Analysis: Global Haptic Technology Market (2023-28):

The Global Haptic Technology Market size was valued at around USD 3.88 billion in 2022 & is estimated to grow at a CAGR of about 3.9% during the forecast period, i.e., 2023-28. Market growth has been boosted by the integration of advanced technology into consumer electronics devices & touch-enabled household appliances. The incorporation of haptic technology, which offers vibration feedback, has allowed users to enhance their touchscreen accuracy. Haptics enables new touch experiences for consumers by detecting the location where the figure has touched the surface, offering contextual feedback. Furthermore, the growing need for gaming applications & technological advances is projected to fuel market demand.

Haptic touch technology has the remarkable ability to seamlessly integrate with various sizes & applications, including laptop touchpads, supplementary mice, keyboards, displays, and more. This integration opens up opportunities to create thinner, more advanced, and more intelligent products compared to those using conventional trackpads. The incorporation of haptic touch also allows devices to adapt to larger batteries, further enhancing their intelligence & power.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 3.9%
Regions Covered North America: US, Canada, Mexico
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
South America: Brazil, Argentina, Rest of South America
Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA
Key Companies Profiled Texas Instruments Inc., Johnson Electric Holdings Ltd., AAC Technologies, TDK Corporation, Microchip Technology Inc., Immersion, Semiconductor Components Industries LLC, Precision Microdrives, Synaptics Inc., Ultraleap, Infineon Technologies AG, Novasentis Inc., Renesas Electronics Corp., Vybronics, Imagis, and Others
Market Value (2022) USD 3.88 Billion

 

One of the key advantages of this technology is its versatility in implementation across a wide range of materials, such as plastic, glass, wood, and leather. This aids in empowering the manufacturers with greater design freedom, leading to the production of enhanced products that are attractive to consumers. Hence, the widespread adoption of haptic touch technology not only elevates the user experience but also expands the market potential for creative designers to craft cutting-edge products.

Furthermore, this technology is also witnessing hype in the healthcare sector, owing to its deployment in virtual reality (VR) telemedicine, where the consultations are being improved & the quality of the healthcare outcomes. Moreover, the Global Haptic Technology Market is driven by significant advancements & innovation across the globe. These advancements have resulted in improved tactile feedback, increased accuracy, and enhanced reliability & durability of these devices, fostering a positive market outlook in the future years.

Nevertheless, the emerging use of haptics in mobiles, cars, and IoT appliances for attaining better functionality & product quality would also contribute to enhancing the market size. Also, the surging deployment of haptic technology in industries such as automotive, educational, gaming, as well as aerospace & defense would encourage the growth of the Global Haptic Technology Market.


Global Haptic Technology Market Research Report: Forecast (2023-2028)

Global Haptic Technology Market Driver:

Booming Deployment of Haptic Technology in Consumer Devices to Drive the Market – With the rising usage of consumer devices like smartphones, wearables, tablets, smart homes, laptops, virtual reality, etc., the Haptic Technology Industry is driving across the globe, as the usage of haptic technology in consumer devices aids in enhancing the performance, sensation, and achieving touchscreen accuracy. Also, nowadays, as many consumer devices are touch-enabled, thus the demand for haptic technology would increase, further positively affecting the market share.

Additionally, this technology assists in generating effective controls in a user-friendly manner, therefore gaining prevalence in the gaming sector in the past few years. Consequently, the ever-increasing adoption of smartphones & the growing interest in video games among the population would contribute to upscaling the Global Haptic Technology Market in the forthcoming years.

Global Haptic Technology Market Opportunity:

Expansion of the Gaming Industry to Fuel the Market Growth – The growing prevalence of individuals towards mobile-based video games is predicted to be a potential opportunity for the growth of the Global Haptic Technology Market in the coming years. Haptic technology is integrated into games & smartphones to let the user have a better experience in the real world. The gaming industry is noticing a ripple in demand for controllers with haptic capabilities, as they provide players with a more immersive experience by making in-game events like crashes & explosions feel more realistic.

This growing demand has spurred significant market development prospects. In line with this, various players in the virtual gaming sector are actively introducing innovative devices, incorporating advanced haptic technology, thereby fueling industry growth in the future years.

Global Haptic Technology Market Challenge:

High-priced Force Feedback Devices to Impede the Growth – Although haptic technology itself is not that expensive, however, the industry has faced significant barriers due to the higher costs associated with force-feedback haptic devices compared to tactile information haptic devices. These force haptic feedback devices enable users to experience realistic simulated sensations in real time, making them valuable for numerous applications in industries such as automobiles, healthcare, aerospace, and other industrial sectors.

Nevertheless, their relatively higher expense has been a challenge to the widespread adoption & growth of the Global Haptic Technology Market. Wearable technology faces a considerable hindrance due to the limited size of these devices. Despite the improved user experience & enhanced user-friendliness that haptic technology brings to these gadgets, manufacturers struggle to determine the most suitable components for their systems.

Hence, the substantial switching costs associated with deploying haptic technology may also restrict many organizations from embracing it, acting as a significant obstacle to its widespread adoption in various application sectors, thus limiting market growth.

Global Haptic Technology Market (2023-28): Segmentation Analysis

The Global Haptic Technology Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023-28 at the global, regional, and national levels. Based on the analysis, the market has been further classified as:

Based on Component

  • Hardware
  • Actuators
  • Drivers & Microcontrollers
  • Software

Software to hold the major market share of the Global Haptic Technology Market during the past years & is poised to be one of the prominent components in the future years as well. With the use of haptic software, the users can interact with the devices & control them, as it performs specific programmed tasks on the devices. The haptic system relies on software to maintain consistency across different sensory inputs, interpret various effects, and manage the timing and scheduling of feedback. To ensure a superior haptic experience, it is vital for the software layers to be performance-driven. Further, with ongoing technological advancements in consumer devices & the widespread adoption of haptics-based products, the demand for this component is expected to surge, driving market growth during 2023-28.

Based on End Users

  • Consumer Devices
  • Automotive & Transportation
  • Education & Research
  • Healthcare
  • Commercial & Industrial
  • Others

Consumer Devices is anticipated to be one of the leading end users in the Global Haptic Technology Market during the forecast period. Haptic technology is included in a wide range of consumer devices such as gaming devices, smartphones, cameras, and many more. With the integration of this technology the devices, the user can have easier access to multimedia, music, photography, etc. Thus, the rising deployment of haptics in several advanced consumer devices would create an opportunistic arena for competitors across the globe, further fueling the market expansion.

Global Haptic Technology Market (2023-28): Regional Projections

Geographically, the Global Haptic Technology Market expands across:

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

Asia- Pacific is projected to dominate with the largest share of the Global Haptic Technology Market. This growth can be attributed to a notable surge in the integration of haptics into electronic devices. The medical industry in the region has also embraced haptic technology, further boosting its growth. Moreover, haptic advancements in vehicle security applications are fostering market development. The gaming sector is witnessing an increased adoption of haptic technology, fueling market growth in Asia-Pacific. Moreover, the presence of major smartphone companies & rising demand for consumer electronic devices also play pivotal roles in driving the haptic technology market in the region. Consequently, these factors create a favorable environment for the expansion of haptic technology in the regional market.

Global Haptic Technology Industry Recent Development:

  • January 2023: TDK Corporation in collaboration with Texas Instruments launched a TDK i3 Micro Module. This module has a built-in edge AI & wireless mesh connectivity.
  • June 2022: Microchip Technology Inc., announced the launch of maXTouch Knob-on-Display (KoD). It is an automotive-grade touch controller that allows capacitive rotary encoders and mechanical switches on a touch panel to be detected and reported.

Gain a Competitive Edge with Our Global Haptic Technology Market Report

  • Global Haptic Technology Market Report by Markntel Advisors provides a detailed & thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
  • This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  • Global Haptic Technology Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The Haptic Technology Market is expected to grow at a compound annual growth rate (CAGR) of about 3.9% from 2023 to 2028.

   A. The Haptic Technology Market size was estimated at around USD3.88 billion in 2022.

   A. Booming deployment of haptic technology in consumer devices to drive the Haptic Technology Market during 2023-28.

   A. Texas Instruments Inc., Johnson Electric Holdings Ltd., AAC Technologies, TDK Corporation, Microchip Technology Inc., Immersion, Semiconductor Components Industries LLC, Precision Microdrives, Synaptics Inc., Ultraleap, Infineon Technologies AG, Novasentis Inc., Renesas Electronics Corp., Vybronics, Imagis, and Others are the top players in the Haptic Technology Market.

   A. Software held the majority of the share of the Haptic Technology Market.

   A. Asia-Pacific would present growth prospects in the Haptic Technology Market during 2023-28.

   A. Expansion of the gaming industry to fuel the Haptic Technology Market growth.

Haptic Technology Market Research Report (2023-2028) - Table of Contents

 

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Haptic Technology Market Regulations & Policy
  5. Global Haptic Technology Market Trends & Developments
  6. Global Haptic Technology Market Dynamics
    1. Growth Drivers
    2. Challenges
  7. Global Haptic Technology Market Hotspots & Opportunities
  8. Global Haptic Technology Market Value Chain Analysis
  9. Global Haptic Technology Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component
        1. Hardware- Market Size & Forecast 2018-2028, USD Million
          1. Actuators- Market Size & Forecast 2018-2028, USD Million
          2. Drivers & Microcontrollers- Market Size & Forecast 2018-2028, USD Million
        2. Software- Market Size & Forecast 2018-2028, USD Million
      2. By End Users
        1. Consumer Devices- Market Size & Forecast 2018-2028, USD Million
        2. Automotive & Transportation- Market Size & Forecast 2018-2028, USD Million
        3. Education & Research- Market Size & Forecast 2018-2028, USD Million
        4. Healthcare- Market Size & Forecast 2018-2028, USD Million
        5. Commercial & Industrial- Market Size & Forecast 2018-2028, USD Million
        6. Others- Market Size & Forecast 2018-2028, USD Million
      3. By Region
        1. North America
        2. South America
        3. Europe
        4. The Middle East & Africa
        5. Asia-Pacific
      4. By Company
        1. Market Share & Analysis
        2. Competition Characteristics
  10. North America Haptic Technology Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2018-2028, USD Million
      2. By End Users- Market Size & Forecast 2018-2028, USD Million
      3. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The United States Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
    4. Canada Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
    5. Mexico Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
  11. South America Haptic Technology Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2018-2028, USD Million
      2. By End Users- Market Size & Forecast 2018-2028, USD Million
      3. By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
    3. Brazil Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
    4. Argentina Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
  12. Europe Haptic Technology Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2018-2028, USD Million
      2. By End Users- Market Size & Forecast 2018-2028, USD Million
      3. By Country
        1. Germany
        2. The UK
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
    3. Germany Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
    4. The UK Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
    5. France Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
    6. Italy Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
    7. Spain Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
  13. The Middle East & Africa Haptic Technology Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2018-2028, USD Million
      2. By End Users- Market Size & Forecast 2018-2028, USD Million
      3. By Country
        1. The UAE
        2. Saudi Arabia
        3. South Africa
        4. Rest of the Middle East & Africa
    3. The UAE Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
    4. Saudi Arabia Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
    5. South Africa Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
  14. Asia-Pacific Haptic Technology Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2018-2028, USD Million
      2. By End Users- Market Size & Forecast 2018-2028, USD Million
      3. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Australia
        6. Rest of Asia-Pacific
    3. China Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
    4. India Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
    5. Japan Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
    6. South Korea Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
    7. Australia Haptic Technology Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2018-2028, USD Million
        2. By End Users- Market Size & Forecast 2018-2028, USD Million
  15. Global Haptic Technology Market Key Strategic Imperatives for Success & Growth
  16. Competition Outlook
    1. Competition Matrix
      1. Product Portfolio
      2. Target Markets
      3. Research & Development
      4. Strategic Alliances
      5. Strategic Initiatives
    2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Texas Instruments Inc.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Johnson Electric Holdings Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. AAC Technologies
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. TDK Corporation
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Microchip Technology Inc.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Immersion
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Semiconductor Components Industries, LLC
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Precision Microdrives
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Synaptics Inc.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Ultraleap
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Infineon Technologies AG
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      12. Novasentis Inc.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      13. Renesas Electronics Corp.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      14. Vybronics
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      15. Imagis
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      16. Others
  17. Disclaimer


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