Haptic Technology Market size was valued at US$ 2.45 Bn. in 2021 and the total Haptic Technology revenue is expected to grow by 11.7% from 2022 to 2027, reaching nearly US$ 4.76 Bn.
Haptic Technology Market Overview:Haptics is considered synonymous with haptic technology (techniques that replicate tactile sensations) and haptic feedback (the way touch is used to communicate with individuals). While small motors used to produce vibration in mobile phones, gaming consoles, and wearables are undoubtedly the most well-known kind of haptic technology, there are numerous variations. Microfluidics, friction modulation, and the use of levers or other mechanical equipment to apply force on a user's body or limbs are examples. Not all haptic technology necessitates users coming into contact with an object. Contactless haptic technology eliminates the need for wearables or control systems. It generates sensory perceptions in mid-air using methods like ultrasound or lasers. The report explores the Haptic Technology market's segments (Component, Feedback Type, Application, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Haptic Technology market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Haptic Technology market's contemporary competitive scenario. To know about the Research Methodology :- Request Free Sample Report
Haptic Technology Market Dynamics:Increased incorporation of haptics into consumer electronics is a major driver of market growth. One of the primary causes driving up demand for haptic technology is the rising usage of household electronic devices e.g. smartphones, laptops, and other wearable gadgets. Haptics is already included in almost all mobile phones and tablets, and the trend is turning toward their incorporation into smartwatches and armbands. Haptic feedback finds uses and serves as a significant instrument in wearable devices like smartwatches and fitness trackers, allowing for speedier controls, longer battery life, and more user-friendly engagements. These wearable gadgets use haptics to communicate information and give realistic experiences to the user. A major restraint in the market growth is that force feedback technology is expensive. Haptics has acquired popularity in smartphones and tablets, reaching a critical threshold in these products. Many businesses are considering integrating haptic technology and weighing the risks and costs of doing so. Even though the implementation of haptics (tactile haptics) into mobile phones and tablets is not expensive, force-feedback haptic devices are more expensive than tactile feedback haptic technology. Force feedback haptics necessitates advanced equipment with 3, 6, and 7 degrees of freedom, so consumers can enjoy real-time virtual haptics in a spectrum of uses. Force feedback-based haptic systems are deployed in medical, automotive, aviation, and industrial simulations, as well as in various ecological studies. These haptic devices are often big, which poses a significant challenge in the context of portable haptic devices. Technical difficulties in product design are expected to be a major challenge in the market growth. The main problem in the haptic technology market is the technological obstacles that product makers encounter when implementing haptic capabilities in various products e.g. smartphones, tablets, surgical tools, automotive panels, and video game consoles. Although haptic technology is a vital addition for adding user-friendliness and guidance to any gadget, it is critical to analyze which features would best fit into a specific system before introducing haptic feedback into a product. The actuator design and related driving characteristics are crucial factors considered under system limits for delivering optimal feedback effectiveness. Designers should also study how well the controller function can be linked to the overall product development. Haptic technology, which was previously restricted to tablets, and other consumer gadgets, is increasingly finding implications in fields e.g. education and automation. In robotics, robot operators deploy haptic devices such as gloves to precisely operate a robot arm or other terminal effectors. Robot operators may accurately control the mechanical arms despite sitting kilometers away from the production floor by wearing haptic gloves.
Haptic Technology Market Segment Analysis:By Component, the software segment is expected to grow at a CAGR of 3.8% in the forecast period. The haptic software component of the haptic stack regulates the haptic exposure in real-time. The software application must generate command signals that the driver IC may use to operate the device. The virtualization software must contain performance-oriented capabilities to produce high-quality haptic interactions. The software industry is anticipated to grow at a high rate over the forecast period due to technical improvements in consumer electronics and the rising usage of haptic-enabled gadgets. By Application, the automotive and transportation segment is expected to grow at a CAGR of 5.6% in the forecast period. This is due to the continuing demand for high-performance electronics devices in hybrid electric cars and other high-end automobiles. In addition, haptics in automotive entertainment systems and touch systems in GPS are becoming more popular. Gear shifters, temperature control displays, dashboards, and turning wheels all incorporate haptic technology. Various car manufacturers, including BMW, Audi, Toyota, Tesla, Volkswagen, and Honda, have incorporated haptics into their vehicles. Automobile manufacturers are also forming alliances with haptic technology vendors to suit their haptic requirements. During the forecast period, such innovations are likely to boost the market for automotive and transportation applications of haptic technology.
Haptic Technology Market Regional Insights:The Asia Pacific region is expected to lead the haptic technology market during the forecast period. One of the primary driving reasons for market growth is growing discretionary income, which has improved the use of electronic consumer products. Numerous biggest smartphone OEMs are headquartered in China, including Huawei, Vivo, Xiaomi, and OnePlus. China is also the greatest end-user of consumer products such as smartphones and laptops. It is among the top countries in terms of automotive manufacturing and sales. The growing trend of sophisticated technology used in automobiles, e.g. entertainment systems and touchscreen-enabled systems e.g. navigation systems, climate control panels, and window controls, is anticipated to generate development prospects for the automotive application segment of the haptic technology industry in the APAC region. The objective of the report is to present a comprehensive analysis of the Haptic Technology market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Haptic Technology market dynamics, and structure by analyzing the market segments and projecting the Haptic Technology market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Haptic Technology market make the report investor’s guide.
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Global Haptic Technology Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2027 Historical Data: 2017 to 2021 Market Size in 2021: US $ 2.45 Bn. Forecast Period 2022 to 2027 CAGR: 11.7 % Market Size in 2027: US $ 4.76 Bn. Segments Covered: by Component • Hardware • Software byFeedback Type • Tactile • Force by Application • Consumer Devices • Automotive & Transportation • Education & Research • Commercial & Industrial • Healthcare • Others
Haptic Technology Market, by Region• North America • Europe • Asia Pacific • Middle East and Africa • South America
Haptic Technology Market Key Players• Immersion Corporation • Texas Instruments Incorporated • Ultrahaptic • Haption S.A. • ON Semiconductor Corporation • Johnson Electric • SMK Corporation • Microchip Technologies Incorporated • Synaptics Incorporated • Force Dimension • TDK • Cypress Semiconductor Corporation • Senseg • Precision Microdrives Ltd. • CAMAR FAQs: 1. Which is the potential market for Haptic Technology in terms of the region? Ans. APAC is the potential market for Haptic Technology in terms of the region. 2. What are the challenges for new market entrants? Ans. Technical difficulties in product design are expected to be a major challenge in the market growth. 3. What is expected to drive the growth of the Haptic Technology market in the forecast period? Ans. Increased incorporation of haptics into consumer electronics is a major driver of market growth. 4. What is the projected market size & growth rate of the Haptic Technology Market? Ans. Haptic Technology Market size was valued at US$ 2.45 Bn. in 2021 and the total Haptic Technology revenue is expected to grow by 11.7% from 2022 to 2027, reaching nearly US$ 4.76 Bn. 5. What segments are covered in the Haptic Technology Market report? Ans. The segments covered are Component, Feedback Type, Application, and Region.
1. Global Haptic Technology Market: Research Methodology 2. Global Haptic Technology Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Haptic Technology Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Haptic Technology Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Haptic Technology Market Segmentation 4.1 Global Haptic Technology Market, by Component (2022-2027) • Hardware • Software 4.2 Global Haptic Technology Market, by Feedback Type (2022-2027) • Tactile • Force 4.3 Global Haptic Technology Market, by Application (2022-2027) • Consumer Devices • Automotive & Transportation • Education & Research • Commercial & Industrial • Healthcare • Others 5. North America Haptic Technology Market(2022-2027) 5.1 North America Haptic Technology Market, by Component (2022-2027) • Hardware • Software 5.2 North America Haptic Technology Market, by Feedback Type (2022-2027) • Tactile • Force 5.3 North America Haptic Technology Market, by Application (2022-2027) • Consumer Devices • Automotive & Transportation • Education & Research • Commercial & Industrial • Healthcare • Others 5.4 North America Haptic Technology Market, by Country (2022-2027) • United States • Canada • Mexico 6. Europe Haptic Technology Market (2022-2027) 6.1. European Haptic Technology Market, by Component (2022-2027) 6.2. European Haptic Technology Market, by Feedback Type (2022-2027) 6.3. European Haptic Technology Market, by Application (2022-2027) 6.4. European Haptic Technology Market, by Country (2022-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Haptic Technology Market (2022-2027) 7.1. Asia Pacific Haptic Technology Market, by Component (2022-2027) 7.2. Asia Pacific Haptic Technology Market, by Feedback Type (2022-2027) 7.3. Asia Pacific Haptic Technology Market, by Application (2022-2027) 7.4. Asia Pacific Haptic Technology Market, by Country (2022-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Haptic Technology Market (2022-2027) 8.1 Middle East and Africa Haptic Technology Market, by Component (2022-2027) 8.2. Middle East and Africa Haptic Technology Market, by Feedback Type (2022-2027) 8.3. Middle East and Africa Haptic Technology Market, by Application (2022-2027) 8.4. Middle East and Africa Haptic Technology Market, by Country (2022-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Haptic Technology Market (2022-2027) 9.1. South America Haptic Technology Market, by Component (2022-2027) 9.2. South America Haptic Technology Market, by Feedback Type (2022-2027) 9.3. South America Haptic Technology Market, by Application (2022-2027) 9.4 South America Haptic Technology Market, by Country (2022-2027) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Immersion Corporation 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Texas Instruments Incorporated 10.3 Ultrahaptic 10.4 Haption S.A. 10.5 ON Semiconductor Corporation 10.6 Johnson Electric 10.7 SMK Corporation 10.8 Microchip Technologies Incorporated 10.9 Synaptics Incorporated 10.10 Force Dimension 10.11 TDK 10.12 Cypress Semiconductor Corporation 10.13 Senseg 10.14 Precision Microdrives Ltd. 10.15 CAMAR