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Haptic Technology Market Size, Share & COVID-19 Impact Analysis, By Product Type (Graspable, Touchable, and Wearable), By Application (Information & Communication, Automotive Transportation, Gaming & Console, Consumer Electronics, Medical & Healthcare, and Others (engineering, & others)), and Regional Forecast, 2023 – 2030

Last Updated: April 29, 2024 | Format: PDF | Report ID: FBI105175

 

KEY MARKET INSIGHTS

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The global haptic technology market size was valued at USD 2.75 billion in 2022. The market is projected to grow from USD 2.99 billion in 2023 to USD 7.31 billion by 2030, exhibiting a CAGR of 13.6% during the forecast period.


Haptic technology, haptic feedback, or haptics are modern engineering technology that integrates tactile experience or feedback to enhance user interface through vibrations, motion, and other tactile feedback. This technology is forecasted to grow extensively with a rising demand for touchable haptic products, such as smartphones, portable gaming devices, and other consumer electronics.


Haptic technology has a major usage in graspable, touchable, and wearable products that amplify the user experience. Haptic technology has an intense application across automotive transportation, consumer electronics, information, and communication technology. Also, there is a heavy demand for haptic feedback systems for gaming consoles, medical & healthcare, and other engineering research.


COVID-19 IMPACT


Late Product Deliveries and Declined Sales During Pandemic Hampered Market Growth


COVID-19 caused a major disruption to the global supply chain, leading to delays in product and service deliveries. Also, the global haptic demand was hampered during the COVID-19 pandemic due to the forced shutdown of production facilities and decreased per capita income resulted in declining consumer electronics and touchable product sales.



  • For instance, according to Canalys, in December 2020, smartphone sales in 2020 declined to 1264.7 million units, a year-on-year decline of 7% from the previous year’s shipment of 1366.7 million units.


Haptic Technology Market Trends


Integration of Haptics in Mobile Gaming and Consoles for Immersive Experience is Driving Trend


Modern gaming consoles and mobile applications invest heavily in enhancing user experience with heavy haptic drivers, actuators, and haptic software. Gaming consoles in the industry are getting more realistic, enhancing user experience by making them feel the tactile sensations and vibrations in virtual gaming. This technology is evolving progressively with heavy integration of actuators in arm suits and graspable gaming devices. Such advancements in the gaming haptic industry are driving trends, are forecasted to expand the haptic technology market share during the forecast period.



  • For instance, In December 2021, Actronika, a leading gaming haptics technology provider, launched its new gaming vest, a haptic vest that promises to deliver an immersive sensation through vibrotactile motors.


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Haptic Technology Market Growth Factors


Rising Integration of Haptics in Smartphones and Automotive Transportation to Drive Market Growth


The global smartphone industry is growing progressively with heavy integration of modern network bandwidths, touch panels, and haptic features that enhance the user experience by feeling audio and video experience aligned with haptic technology that will provide high definition. The technology helps convert audio to haptics that will enhance the real-time viewing experience of users while watching movies and games. This technological integration to enhance the smart viewing and gaming experience augmented the expansion of the haptic technology market size during the forecast period.



  • For instance, in December 2022, One Plus, a leading smartphone manufacturer, has announced the AAC technologies Richtap, a new haptic motor integration to their smartphones that enhances user experience by raising volume exceeding 600mm3.


RESTRAINING FACTORS


Technological Advancements and High Production Costs to Impede Demand in Short-Term


Haptics technology has emerged as a technological revolution from a small vibration component to a user-aligned haptic feedback technology. However, high actuator and motor costs owing to small size and high output are estimated to raise the prices of the electroacoustic components, which increases the final product cost. This advancement resulted in a price hike of the component to impede the demand for haptics in the short term.


Haptic Technology Market Segmentation Analysis


By Product Type Analysis


Rising Demand for Touchable Haptics in Smartphones to Boost Touchable Segment Growth


Based on product type, market are classified into graspable, touchable, and wearable.


In product type, touchable haptic products are augmented to witness at a highest growth rate, owing to increasing demand for touch smartphones for gaming haptics and movie streaming. There is a growing demand for automotive touch infotainment systems that drive haptics demand in the long term. Also, there is a substantial demand for graspable haptic devices owing to gadgets, such as gaming joysticks and gaming attachments for smartphones. Further, there is a subtle demand for wearable devices due to health monitoring and tracking to drive haptic technology market growth in the long term.



  • For instance, In February 2023, IIT Kanpur, a government institution, signed a memorandum with Ambrane Technologies to mass manufacture haptic smartwatches for visually impaired and blind people.


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By Application Analysis


Growing Demand for Infotainment Systems in Automotive to Drive Automotive Transportation Segment Growth


Based on application, the market is classified into information and communication, automotive transportation, gaming and console, consumer electronics, medical and healthcare, and others (engineering, & others).


Haptics technology has a dominant application in automotive transportation owing to new seating developments in the cars that enhance the user experience. Also, enriching the user interaction with car infotainment systems through haptics is bolstering demand for haptic technology. Also, it allows users to have intuitive touch-based interactions that create new opportunities for Original Equipment Manufacturers (OEMs). Vibration gaming controllers demand and feel touch display gaming applications across consoles and consumer electronics are estimated to grow subsequent demand in the long term. Also, vibration actuation is used in medical healthcare and other engineering research to create a subtle demand for haptics during the forecast period.



  • For instance, In February 2021, Immersion Corporation and Faurecia, a leading automotive component manufacturer, partnered to develop a touch-based automotive haptic touch solution.


REGIONAL INSIGHTS


Global haptic market is studied across North America, Europe, Asia Pacific, the Middle East & Africa, and South America.


Haptic technology is augmented to grow extensively globally owing to increased demand for touch solutions for smart infotainment devices and the adoption of smartphones. Also, the subsequent application of haptics in communication and consumer electronics will leverage opportunities for OEMs in the long term.


Asia Pacific Haptic Technology Market Size, 2022 (USD Billion)

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Asia Pacific dominated the global haptic technology market with a share of 28.72% in 2022. Asia Pacific region is forecasted to grow at a highest rate due to increased demand for touch and acoustic haptics that provide immersive user experiences. Also, there is substantial demand for graspable gaming solutions for realistic gaming experiences, and subtle demand for wearable devices to track the health and fitness of an individual is forecasted to drive the market growth in the long term.


As per our market research, China is forecasted to grow progressively while occupying the largest market owing to its dominant technological and consumer base. Touchable haptic solutions are forecasted to grow extensively with the heavy integration of smart infotainment systems that amplify user experience, dominating the application across the automotive industry. Furthermore, India, which supports Asia’s extensive growth, followed by Japan, South Korea, and ASEAN countries, is actively contributing.


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North America region is estimated to follow a progressive trajectory due to increased demand for touch haptic solutions in automotive to help users with intuitive touch dominate the haptic adoption in this region. Also, acoustic haptic feedback systems integration into smartphones is driving the market growth.


Europe’s haptics display solution is estimated to grow substantially over time due to increased demand for features, such as acoustic synced television displays and infotainment systems. This immersive solution will expand the application of haptics technology in the automotive infotainment clusters and consumer displays.


The Middle East & Africa is set to drive a subsequent growth in haptics demand owing to the rising demand for smartphones and the increasing youth population. Also, the rising income of users in this region supplements the demand for smartphones and consumer electronics to expand the haptics revenue in the long term.


South America is following a subtle demand for smartphones and gaming consoles due to an increase in online gaming, and the rising number of users in online gaming is contributing heavily to the growth of the haptics market.


List of Key Haptic Technology Market Companies


Increasing Investments in Acoustic Actuators Development and Gaming Solutions by Key Players Drive Market Growth


Key market players are investing heavily in developing acoustic actuation technologies that auto-synchronize with the gaming and movie sound to enhance user viewing and gaming experience. Also, with an increased focus on a diverse portfolio range, companies are spending extensively on powerful actuator motors and gaming haptic motors, which might strengthen market position and profitability in the long term.


For instance, In March 2021, Striker VR and Immersion, both leading technology manufacturers are collaborating for the development of virtual reality haptic device with an announcement of USD 4 Million.


List of Key Companies Profiled:



KEY INDUSTRY DEVELOPMENTS:



  • January 2023: One Plus, a leading smartphone manufacturer, has integrated AAC technology and developed a biometric haptic actuator that integrates acoustics, optics, and other haptics that enable users to have stronger vibrations.

  • December 2022: D-BOX Technologies partnered with Track Racer, a high-quality gaming platform manufacturer and reseller, to develop high fidelity haptic feedback chassis, allowing four degrees of freedom and component costs around USD 1 million.

  • June 2022: D-BOX Technologies Inc. and MILA, the largest deep learning institute, announced a strategic partnership to use Artificial Intelligence (AI) to improve haptics and increase productivity.

  • January 2022: AAC Technologies launched its ultra-wide linear actuator cyber engine that will better bridge virtual reality with powerful X-axis motors with powerful 560 cubic mm vibration linear motors that achieve an outstanding 120% vibration.

  • August 2021: Renesas Electronics Corporation acquired Dialog Semiconductor PLC to expand its product portfolio for haptic technology, embedded processing, and connectivity, offering 39 winning combinations that include LED backlight and haptic drivers for automotive.


REPORT COVERAGE


An Infographic Representation of Haptic Technology Market

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The market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market in recent years.


Report Scope & Segmentation










































ATTRIBUTE



DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 13.6% from 2023 to 2030



Unit



Value (USD Billion)



 


 


 


 


 


 


 


 


 


 


Segmentation



By Product Type



  • Graspable

  • Touchable

  • Wearable


By Application



  • Information & Communication

  • Automotive

  • Gaming & Console

  • Consumer Electronics

  • Medical & Healthcare

  • Others (engineering, & others)


By Region



  • North America (By Product Type, By Application, and By Country)


    • U.S. (By Product Type)

    • Canada (By Product Type)

    • Mexico (By Product Type)


  • Europe (By Product Type, By Application, and By Country)


    • U.K. (By Product Type)

    • Germany (By Product Type)

    • France (By Product Type)

    • Italy (By Product Type)

    • Rest of Europe


  • Asia Pacific (By Product Type, By Application, and By Country)


    • China (By Product Type)

    • India (By Product Type)

    • Japan (By Product Type)

    • South Korea (By Product Type)

    • Rest of Asia Pacific


  • Middle East & Africa (By Product Type, By Application, and By Country)


    • GCC Countries (By Product Type)

    • Turkey (By Product Type)

    • South Africa (By Product Type)

    • Rest of MEA


  • South America (By Product Type, By Application, and By Country)


    • Brazil (By Product Type)

    • Argentina (By Product Type)

    • Rest of South America







Frequently Asked Questions

The market is projected to reach USD 7.31 billion by 2030.

In 2022, the market was valued at USD 2.75 billion.

The market is projected to grow at a CAGR of 13.6% during the forecast period.

The touchable product type segment is expected to witness the highest growth rate in the market.

The rising integration of haptics in smartphones and automotive is the key factor driving market growth.

Immersion Corporation, 3D Systems, Jahwa Electronics, Renesas Electronics Corporation, Texas Instruments, D-Box Technologies, AAC Technologies, Johnson Electric, Microchip Technology, TDK Corporation, and Awinic are the top players in the market.

Asia Pacific is expected to hold the highest market share.

By application, the automotive transportation segment is expected to grow with a remarkable CAGR during the forecast period.

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