Haptic Technology Global Market Report 2023: Rising Integration of Haptic Technology into Consumer Devices Bolsters Growth

Oct 29, 2023

Global Haptic Technology Market

Dublin, May 15, 2023 (GLOBE NEWSWIRE) -- The "Haptic Technology Market by Feedback Type (Tactile, Force), Component (Hardware (Actuators, Drivers & Microcontrollers) Software), Application (Consumer Devices, Automotive & Transportation, Commercial & Industrial) and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The haptic technology market is projected to reach USD 5.0 billion by 2028 from USD 4.2 billion in 2023, at a CAGR of 3.7% from 2023 to 2028. The major factors driving the market growth of the haptic technology market include rising integration of haptic technology into consumer devices, growing use of haptic technology in automotive industry, increasing use of haptic technology in healthcare industry, and increasing adoption of haptic technology in industrial application.

Moreover, rising application of haptic technology in aerospace & defense industry and technological advancements in haptic technology are expected to provide ample growth opportunities for market players in the haptic technology market.

Tactile Feedback Segment is expected to register the highest CAGR during the forecast period

Tactile feedback works on the principle of tactile sensing. It includes devices that interact with the nerve endings in the skin that feel heat, texture, and pressure. These devices are used to indicate whether the user is in contact with a virtual object. Tactile technology is being used mostly in consumer electronic devices such as smartphones and tablets that are integrated with a touchscreen. The growing usage of smartphones is a major factor driving the market growth for tactile feedback.

Actuators is expected to account for the largest market share of haptic technology hardware market during the forecast period

Actuators are embedded in the haptics-enabled devices. They are controlled by the embedded software and integrated into the device's user interface through the control software application programming interface (API). The actuators are used in different devices depending upon the requirement related to effects, design constraints, and size. The growing demand for haptics enabled devices for superior user interface is expected to drive the demand for actuators.

North America is expected to account for the second largest market share during the forecast period

The North American market is witnessing considerable growth due to the increasing haptic device deployment in consumer electronics and automobile applications. This growth is not only driven by haptic hardware but also by haptic software. Software companies such as Immersion are based in the North American region. The governments of countries in North America have taken several initiatives, such as funding and grant to universities and companies for research in haptic technology. Some of the key players in the haptic technology market in North America are Texas Instruments (US), Microchip Technology (US), ON Semiconductor (US), Cirrus Logic (US), and Immersion (US).

Market Dynamics

Drivers

Rising Integration of Haptic Technology into Consumer Devices

Growing Use of Haptic Technology in Automotive Industry

Increasing Use of Haptic Technology in Healthcare Industry

Increasing Adoption of Haptic Technology in Industrial Applications

Restraints

High Cost of Force Feedback Technology

Opportunities

Rising Applications of Haptic Technology in Aerospace & Defense Industry

Technological Advancements in Haptic Technology

Challenges

Technical Challenges Related to Product Design

High Power Consumption in Haptic Feedback

Leakage Issues Associated with Pneumatic and Hydraulic Actuators

Key Attributes:

Report Attribute

Details

No. of Pages

214

Forecast Period

2023 - 2028

Estimated Market Value (USD) in 2023

$4.2 Billion

Forecasted Market Value (USD) by 2028

$5 Billion

Compound Annual Growth Rate

3.7%

Regions Covered

Global

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Types of Haptic Devices6.1 Introduction6.2 Active Haptic Device6.3 Passive Haptic Device

7 Haptic Technology for Different Touchscreen Types7.1 Introduction7.2 Capacitive7.3 Resistive7.4 Others

8 Haptic Technology Market, by Feedback Type8.1 Introduction8.2 Tactile8.2.1 Growing Use of Haptic Technology in Consumer Devices to Drive Growth of Tactile Feedback Segment8.3 Force8.3.1 Robotics and Gaming Applications to Create Lucrative Opportunities for Force Feedback Segment

9 Haptic Technology Market, by Component9.1 Introduction9.2 Hardware9.2.1 Actuators9.2.1.1 Eccentric Rotating Mass (Erm) and Linear Resonant Actuators (Lras)9.2.1.1.1 Cost-Effective Actuator Alternatives for Mass-Market Devices9.2.1.2 Piezoelectric Actuators9.2.1.2.1 Offer Excellent Response Time9.2.2 Drivers and Microcontrollers9.2.2.1 Act as Bridge Between Controller and Actuator9.3 Software9.3.1 Enables Users to Interact with Devices

10 Haptic Technology Market, by Application10.1 Introduction10.2 Consumer Devices10.2.1 Smartphones, Tablets, and Smartwatches10.2.1.1 Haptic Components Find Major Applications in Smartphones, Tablets, and Smartwatches10.2.2 Augmented Reality (Ar) & Virtual Reality (Vr) and Gaming Devices10.2.2.1 Haptic Technology in Ar and Vr Has Evolved Significantly in Past Few Years10.2.3 Other Consumer Devices10.3 Automotive & Transportation10.3.1 Growing Demand for Haptic Technology-Based Touchscreens10.4 Education & Research10.4.1 Developments in Haptic Educational Devices for New Teaching Techniques Using Tactile and Force Feedback10.5 Healthcare10.5.1 Growing Use of Haptic Technology in Medical Training, Rehabilitation, and Robotic Surgeries10.6 Commercial & Industrial10.6.1 Rising Use of Haptic Technology in Commercial Applications10.7 Others

11 Haptic Technology Market, by Region

12 Competitive Landscape

13 Company Profiles

14 Appendix Companies Mentioned

AAC Technologies

Aito Bv

Allegro Microsystems

Alps Alpine

Analog Devices

Boreas Technologies

Cirrus Logic Inc.

Hap2U

Imagis

Immersion

Infineon Technologies Ag

Johnson Electric Holdings Limited

Microchip Technology Inc.

Mplus

Need-For-Power Motor Co. Ltd.

Nidec Corporation

Novasentis, Inc.

Precision Microdrives

Renesas Electronics Corporation

Semiconductor Components Industries, LLC (Onsemi)

Synaptics Incorporated

Tdk Corporation

Texas Instruments Incorporated

Ultraleap

Vybronics

For more information about this report visit https://www.researchandmarkets.com/r/em2tm4

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Attachment

Global Haptic Technology Market