The global haptic technology market reached a value of US$ 8.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 17.7 Billion by 2027, exhibiting a CAGR of 14.4% during 2022-2027.
Haptic technology, or kinesthetic communication, are virtual and mixed reality solutions that provide multi-model experiences through sight, sound, and touch. It employs technology that utilizes physical feedback and pressures sensitivity to operate through different devices, such as actuators, haptic drives, and microcontroller units. The haptic actuators are electronic devices that transform electric signals into vibrations, which can be sensed by the user operating the device. This technology creates and monitors virtual objects, game consoles, surgical equipment, and wearable devices, and enhance the efficiency of remote-controlled machines and telerobots.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends
The growing consumer electronics sector, along with the increasing adoption of haptic technology solutions for enhanced scalability of devices, is augmenting the market growth. The extensive utilization of haptics in appliances and virtual interfaces for optimum sound, touch, and visual effects has helped in improving product designs and operational efficiencies. Furthermore, widespread adoption of haptic technology in gaming input devices, such as operating consoles and joysticks, offers various intensities of vibrations and mechanical signals for high-end user experience. Additionally, the growing popularity of 3D-touchscreen displays in automobiles and medical electronics is further bolstering the demand for haptic technology. The integration of haptics with robotics, manufacturing and industrial automation, along with the emergence of advanced tools for visually-impaired individuals, will continue to drive the haptic technology market.
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The report has segmented the market on the basis of component, feedback, technology, application and geography.
Breakup by Component:
Actuators
Drivers and Controllers
Software
Others
Breakup by Feedback:
Tactile
Force
Breakup by Technology:
Captive
Resistive
Others
Breakup by Application:
Automotive and Transportation
Consumer Electronics
Education and Research
Gaming
Healthcare
Engineering
Others
Breakup by Geography:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being 3d Systems Corporation, Haption, Immersion Corporation, Johnson Electric Holdings Limited, Microchip Technology Inc., ON Semiconductor Corporation, Precision Microdrives Ltd., Senseg Oy (O-film Global HK Trading Limited), SMK Corporation, Synaptics Incorporated, Tactus Technology Inc., Texas Instruments Incorporated and Ultrahaptics.
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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