GLOBAL HAPTIC TECHNOLOGY MARKET FORECAST 2020-2028

The global haptic technology market is estimated to grow at a CAGR of 14.44% during the year 2020 and 2028. The market is anticipated to generate a revenue of about $ 38617.89 million by 2028. The base year considered for the study is 2019, and the estimated period is between 2020 and 2028.

The factors propelling the global haptic technology market growth are:

  • Rising adoption of haptics in consumer electronic devices
  • Growing use of touch screen interfaces
  • Haptic technology in automotive safety applications
  • Increasing demand for haptics in gaming consoles

Global Haptic Technology Market

To know more about this report, request a free sample copy.

The main driver for the market is the increasing adoption of haptics in consumer electronics devices. Consumer electronics form the primary application for haptics technology. The consumer electronics segment is the highest revenue generator for the market. The primary factor behind its highest share is the incorporation of haptics on a large scale by smartphone manufacturers. Touch screens have now emerged as one of the most preferred interfaces for mobile devices. These provide advanced device functionalities like dynamic and contextual user interfaces. There has been a gradual transformation from traditional uses like gaming effects and message alerts to more visual and audio feedback that is integrated into smart devices. Besides, smart wearables, such as smart-watches are using haptics to give better customer experience.

The tactile feedback segment dominated the global haptic technology market in 2019 with the largest market share, contributing about 97.51%. It is also anticipated to be the fastest-growing feedback type with a CAGR of 14.48% during the forecast period. Tactile feedback has been considerably used in smartphones and tablets over the past five years. With the increased demand for these devices, the market for haptic has also increased considerably. While force-feedback haptic has been used in surgical and other simulation applications for over a decade now, the market has been growing at a steady rate. Its market is expected to proliferate after 2025 on account of the several new developments and is also set to gain a fraction of the end-user sectors to commercialize significantly.

The key restraints of the market are declining adoption of force feedback haptic technology due to high cost, high power consumption, technical challenges related to product design. The major restraint is high power consumption. Almost all haptics-enabled devices are battery-powered, and thus, engineers and designers are more concerned about the power consumption of haptic technology in battery-critical applications. Battery consumption in basic haptic technologies in mobile devices differs mainly from that of HD haptic technologies in mobile devices. In the case of basic haptics, there is a minimal effect on battery life. However, if HD haptic applications are used in mobile devices, battery consumption will be higher compared to basic haptics.

The report on the global haptic technology market includes segmentation analysis on the basis of feedback type, component, and application.

Market by Feedback Type:

  • Tactile
  • Force

Market by Component:

  • Software
  • Drivers & Controllers
  • Actuators
  • Others

Market by Application:

  • Education & Research
  • Engineering
  • Gaming
  • Automotive & Transportation
  • Consumer Electronics
  • Healthcare
  • Others

Geographically, the global haptic technology market has been segmented on the basis of four major regions, which includes:

  • North America: the United States and Canada
  • Europe: United Kingdom, Germany, France, Italy, Russia, Belgium, Poland, and the Rest of Europe
  • Asia Pacific: India, South Korea, Australia &New Zealand, Indonesia, Thailand, Vietnam, China, Japan, , and the Rest of Asia Pacific
  • Rest of World: Latin America, the Middle East & Africa

In 2019, Asia Pacific captured the largest market share of 44.99% in terms of revenue and continued the trend until the end of the forecast period. A large target group or consumer base for consumer electronics augmented the internet and smartphone penetration in this region. The growing use of internet-enabled devices is primarily responsible for the dominant position of the region in the global market. Also, the rising demand for mobile devices and wearables from countries, such as China, India, Japan, and South Korea, are expected to drive the adoption of haptic technology in this region. These countries are also the largest producers of automotive components and hold the most number of consumer electronics manufacturers such as Fujitsu, HTC, LG, Lenovo, Meizu, Panasonic, Samsung, Sony, and Xiaomi. However, the rest of the world’s geographic region, which includes the Middle East & Africa and Latin America regions, is expected to be the fastest evolving market. These two regions are primarily driven by the increasing demand for consumer electronics and the integration of haptics into several devices across automotive, healthcare, gaming, and AR & VR applications.

While, Europe is anticipated to be the fastest-growing region during the forecast period growing with an anticipated CAGR of 14.87%. The haptic technology market in Europe is driven by several factors, such as the presence of one of the large automotive and consumer electronics industries. The United Kingdom, Germany, and France are the major markets for haptic technology in Europe. Factors such as reviving economic conditions, high per capita income, and improved standard of living of people have contributed to the growth of the European haptic technology market.

Some of the prominent market players in the global haptic technology market are:

  • Immersion Corporation
  • Texas Instruments Incorporated
  • Precision Microdrive’s Pvt Ltd
  • UltraLeap
  • Synaptics Incorporated
  • Others

Key strategies adopted by some of the haptic technology companies are:

Company profiles cover an analysis of important players. These companies are using organic and inorganic strategies for growth. For instance, in July 2019, Densitron Technologies acquired Intelligent Display Systems (IDS) platform from Cambridge-based broadcast business IPE. In November 2019, Immersion signed license agreements with Continental introduce their haptics technology into automotive interfaces. In September 2019, Ultrahaptics and Leap Motion rebranded themselves into Ultraleap.

Key findings of the global haptic technology market are:

  • Tactile holds the largest market share in the feedback type segment.
  • Consumer electronics is a crucial end-user of the market.
  • There is a rise in the adoption of HD haptics and ultra-haptics.
  • Haptics technology has a use case for the visually impaired.
  • Education display technology is an upcoming field in the haptic technology market.

TABLE OF CONTENTS
  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. SCOPE OF STUDY
    3. METHODOLOGY
    4. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
  3. MARKET DYNAMICS
    1. MARKET DEFINITION
    2.    KEY DRIVERS
      1. INCREASING ADOPTION OF HAPTICS IN CONSUMER ELECTRONIC DEVICES
      2. GROWING DEMAND FOR HAPTICS IN GAMING CONSOLES
      3. HAPTIC TECHNOLOGY IN AUTOMOTIVE SAFETY APPLICATIONS
      4. GROWING USE OF TOUCH SCREEN INTERFACES
    3.    KEY RESTRAINTS
      1. DECLINING ADOPTION OF FORCE FEEDBACK HAPTIC TECHNOLOGY DUE TO HIGH COST
      2. HIGH POWER CONSUMPTION
      3. TECHNICAL CHALLENGES RELATED TO PRODUCT DESIGN
  4. KEY ANALYTICS
    1. KEY INVESTMENT INSIGHTS
    2.    PORTER’S FIVE FORCE ANALYSIS
      1. BUYER POWER
      2. SUPPLIER POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. OPPORTUNITY MATRIX
    4. VENDOR LANDSCAPE
    5. VALUE CHAIN ANALYSIS
  5. MARKET FEEDBACK TYPE
    1. TACTILE
    2. FORCE
  6. MARKET BY COMPONENTS
    1. ACTUATORS
    2. DRIVERS & CONTROLLERS
    3. SOFTWARE
    4. OTHERS
  7. MARKET BY APPLICATION
    1. CONSUMER ELECTRONICS
    2. ENGINEERING
    3. GAMING
    4. AUTOMOTIVE & TRANSPORTATION
    5. EDUCATION & RESEARCH
    6. HEALTHCARE
    7. OTHERS
  8. GEOGRAPHICAL ANALYSIS
    1.    NORTH AMERICA
      1. UNITED STATES
      2. CANADA
    2.    EUROPE
      1. UNITED KINGDOM
      2. GERMANY
      3. FRANCE
      4. ITALY
      5. RUSSIA
      6. BELGIUM
      7. POLAND
      8. REST OF EUROPE
    3.    ASIA PACIFIC
      1. CHINA
      2. JAPAN
      3. INDIA
      4. SOUTH KOREA
      5. INDONESIA
      6. THAILAND
      7. VIETNAM
      8. AUSTRALIA & NEW ZEALAND
      9. REST OF ASIA PACIFIC
    4.    REST OF WORLD
      1. LATIN AMERICA
      2. MIDDLE EAST & AFRICA
  9. COMPANY PROFILES
    1. 3D SYSTEMS
    2. DENSITRON TECHNOLOGIES
    3. FORCE DIMENSION
    4. HAPTION SA
    5. IMAGIS
    6. IMMERSION CORPORATION
    7. JOHNSON ELECTRIC HOLDINGS LIMITED
    8. MICROCHIP TECHNOLOGY INCORPORATED
    9. ON SEMICONDUCTOR CORPORATION
    10. PRECISION MICRODRIVES LTD
    11. SENSEG OY
    12. SMK CORPORATION
    13. SYNAPTICS INCORPORATED
    14. TEXAS INSTRUMENTS INC
    15. ULTRALEAP
LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – HAPTIC TECHNOLOGY

TABLE 2: GLOBAL HAPTIC TECHNOLOGY MARKET, FEEDBACK TYPE, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 3: GLOBAL HAPTIC TECHNOLOGY MARKET, FEEDBACK TYPE, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 4: GLOBAL TACTILE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 5: GLOBAL TACTILE MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 6: GLOBAL FORCE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 7: GLOBAL FORCE MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 8: GLOBAL HAPTIC TECHNOLOGY MARKET, BY COMPONENTS, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 9: GLOBAL HAPTIC TECHNOLOGY MARKET, BY COMPONENTS, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 10: GLOBAL ACTUATORS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 11: GLOBAL ACTUATORS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 12: GLOBAL DRIVERS & CONTROLLERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 13: GLOBAL DRIVERS & CONTROLLERS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 14: GLOBAL SOFTWARE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 15: GLOBAL SOFTWARE MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 16: GLOBAL OTHERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 17: GLOBAL OTHERS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 18: GLOBAL HAPTIC TECHNOLOGY MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 19: GLOBAL HAPTIC TECHNOLOGY MARKET, BY APPLICATION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 20: GLOBAL CONSUMER ELECTRONICS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 21: GLOBAL CONSUMER ELECTRONICS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 22: GLOBAL ENGINEERING MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 23: GLOBAL ENGINEERING MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 24: GLOBAL GAMING MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 25: GLOBAL GAMING MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 26: GLOBAL AUTOMOTIVE & TRANSPORTATION MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 27: GLOBAL AUTOMOTIVE & TRANSPORTATION MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 28: GLOBAL EDUCATION & RESEARCH MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 29: GLOBAL EDUCATION & RESEARCH MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 30: GLOBAL HEALTHCARE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 31: GLOBAL HEALTHCARE MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 32: GLOBAL OTHERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 33: GLOBAL OTHERS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 34: GLOBAL HAPTIC TECHNOLOGY MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 35: GLOBAL HAPTIC TECHNOLOGY MARKET, BY GEOGRAPHY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 36: NORTH AMERICA HAPTIC TECHNOLOGY MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 37: NORTH AMERICA HAPTIC TECHNOLOGY MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 38: EUROPE HAPTIC TECHNOLOGY MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 39: EUROPE HAPTIC TECHNOLOGY MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 40: ASIA PACIFIC HAPTIC TECHNOLOGY MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 41: ASIA PACIFIC HAPTIC TECHNOLOGY MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 42: REST OF WORLD HAPTIC TECHNOLOGY MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 43: REST OF WORLD HAPTIC TECHNOLOGY MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1: KEY INVESTMENT INSIGHTS

FIGURE 2: PORTER’S FIVE-FORCE ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: VALUE CHAIN ANALYSIS

FIGURE 6: GLOBAL HAPTIC TECHNOLOGY MARKET, GROWTH POTENTIAL, FEEDBACK TYPE, IN 2019

FIGURE 7: GLOBAL HAPTIC TECHNOLOGY MARKET, BY TACTILE, 2020-2028 (IN $ MILLION)

FIGURE 8: GLOBAL HAPTIC TECHNOLOGY MARKET, BY FORCE, 2020-2028 (IN $ MILLION)

FIGURE 9: GLOBAL HAPTIC TECHNOLOGY MARKET, GROWTH POTENTIAL, BY COMPONENTS, IN 2019

FIGURE 10: GLOBAL HAPTIC TECHNOLOGY MARKET, BY ACTUATORS, 2020-2028 (IN $ MILLION)

FIGURE 11: GLOBAL HAPTIC TECHNOLOGY MARKET, BY DRIVERS & CONTROLLERS, 2020-2028 (IN $ MILLION)

FIGURE 12: GLOBAL HAPTIC TECHNOLOGY MARKET, BY SOFTWARE, 2020-2028 (IN $ MILLION)

FIGURE 13: GLOBAL HAPTIC TECHNOLOGY MARKET, BY OTHERS, 2020-2028 (IN $ MILLION)

FIGURE 14: GLOBAL HAPTIC TECHNOLOGY MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2019

FIGURE 15: GLOBAL HAPTIC TECHNOLOGY MARKET, BY CONSUMER ELECTRONICS, 2020-2028 (IN $ MILLION)

FIGURE 16: GLOBAL HAPTIC TECHNOLOGY MARKET, BY ENGINEERING, 2020-2028 (IN $ MILLION)

FIGURE 17: GLOBAL HAPTIC TECHNOLOGY MARKET, BY GAMING, 2020-2028 (IN $ MILLION)

FIGURE 18: GLOBAL HAPTIC TECHNOLOGY MARKET, BY AUTOMOTIVE & TRANSPORTATION, 2020-2028 (IN $ MILLION)

FIGURE 19: GLOBAL HAPTIC TECHNOLOGY MARKET, BY EDUCATION & RESEARCH, 2020-2028 (IN $ MILLION)

FIGURE 20: GLOBAL HAPTIC TECHNOLOGY MARKET, BY HEALTHCARE, 2020-2028 (IN $ MILLION)

FIGURE 21: GLOBAL HAPTIC TECHNOLOGY MARKET, BY OTHERS, 2020-2028 (IN $ MILLION)

FIGURE 22: NORTH AMERICA HAPTIC TECHNOLOGY MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 23: UNITED STATES HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 24: CANADA HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 25: EUROPE HAPTIC TECHNOLOGY MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 26: UNITED KINGDOM HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 27: GERMANY HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 28: FRANCE HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 29: ITALY HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 30: RUSSIA HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 31: BELGIUM HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 32: POLAND HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 33: REST OF EUROPE HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 34: ASIA PACIFIC HAPTIC TECHNOLOGY MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 35: CHINA HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 36: JAPAN HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 37: INDIA HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 38: SOUTH KOREA HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 39: INDONESIA HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 40: THAILAND HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 41: VIETNAM HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 42: AUSTRALIA & NEW ZEALAND HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 43: REST OF ASIA PACIFIC HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION

FIGURE 44: REST OF WORLD HAPTIC TECHNOLOGY MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 45: LATIN AMERICA HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

FIGURE 46: MIDDLE EAST & AFRICA HAPTIC TECHNOLOGY MARKET, 2020-2028 (IN $ MILLION)

Request For A Free Sample