Haptic Technology Market

Haptic Technology Market Overview:

The global haptic technology market was valued at USD 2.42 billion in 2022 and is likely to reach USD 5.41 billion by 2030, at a CAGR of 12.2%. The global haptic technology market is an interface between the user and the connected device which offers tactile feedback and force feedback to the users through a sense of touch by applying forces, vibrations, and motion to the users. Haptic senses is more direct when compared to other senses which are used in user computer interaction such as audio and vision. It is finding its way in several electronics and mechanical products such smartphones and handheld devices such as desk phones, GPS units, barcode readers, automotive dashboards, industrial instruments, and medical devices. Rising implementation of haptic technology in automobile safety applications is expected to spur the global haptic technology market demand for this technology in the coming years. Moreover, growing integration of haptics into consumer devices is another key factor boosting the global haptic technology market growth. 

Haptic Technology Market Segmentation:

By component, the global haptic technology market is bifurcated into hardware and software. The software segment held the highest share in 2022. Haptic software is the part of the haptic stack which manages the haptic experience in real-time. The software layer must create command signals for the driver IC to convert into electrical signals to control the actuator. To produce high-quality haptic experiences, it is vital that the software layer has performance-oriented functionality. Significant technological developments in consumer devices as well as rising adoption of haptic-enable devices boosts the segment growth.

Based on feedback type, the global haptic technology market has been bifurcated into tactile and force. The tactile segment accounted for the largest market share of almost 70% in 2022 and is the fastest-growing segment during the assessment period. The segment growth can be ascribed to shifting consumer inclination toward a simulating experience while using smartphones. Tactile feedback enables users to personalize several types of messaging alerts and related notifications on their smartphones, further boosts the segment growth. In addition, tactile feedback is used in IoT enabled devices such as wrist bands and smart watches, to help consumers keep a track of their health, thereby augmenting the usage of tactile feedback. The force segment registered a steady CAGR in the coming years. Force feedback in critical in perception of gross shape, impact forces, and weight. It’s also vital for locomotion such as running and walking.

On the basis of application, the global haptic technology market has been classified into consumer devices, gaming, automotive & transportation, education & research, commercial & industrial, healthcare, and others. The automotive & transportation segment is expected to witness the fastest CAGR during the review period. This can be ascribed to continuous demand for high-performance electronic systems in hybrid electric vehicles and related high-end automobiles. Moreover, there has been a growing adoption of haptics in-car infotainment systems as well as touchscreens in GPS. This technology is also used in climate control screens, dashboards, accelerator pedals, and steering wheels. Some of the key automobile manufacturers such as Audi, BMW, Tesla, Toyota, Volkswagen, and Honda have further incorporated haptics in their cars. The gaming segment held a significant share in 2022 due to robust integration of haptic technology in gaming applications for immersive user experience. Haptic technology developed with mobile gaming interfaces and gaming consoles offers players with an improved real-life experience.

Haptic Technology Market Dynamics and Factors:

Growing integration of haptics into consumer devices as well as increasing usage of consumer electronics such as tablets, smartphones, and other wearable devices are likely to boost the demand for global haptic technology market. Also, rising usage of haptics in mobiles, cars, and IoT appliances to achieve enhanced product design and operating accuracy will bolster the global haptic technology market growth. Haptic exhibits improved touch, sound, and visual effects in touchscreen devices which contributes its high adoption. The vibration feedback offered by this technology enables users to enhance touchscreen accuracy. Haptics has gained acceptance in tablets and smartphones and has reached saturation in these consumer devices, thus limiting its usage. Due to the pandemic, the haptic technology was adversely affected in 2022 mainly due to shutdown of operations in automotive and commercial & healthcare sectors.

Haptic Technology Market Geographical Analysis:

The Asia Pacific market witnessed the largest market share in 2022 and is likely to garner the highest CAGR during the review period. Increasing purchasing power has resulted in a surge in the adoption of consumer devices, which drives the market growth. China is a hub for consumer electronics with easy availability of raw material and presence of large number of manufacturers. Moreover, it is one of the major countries in terms of vehicle production and sale. The growing adoption of advanced technologies in vehicles such as touchscreen-enabled applications such as navigation systems, window controls, and dashboards further augments the regional and global haptic technology market growth. The European market held a significant share after Asia Pacific which is attributed to strong consumer spending on modern infotainment systems with simulated touchscreen displays for improved safety and driving experience in commercial vehicles and passenger cars.

Haptic Technology Market Report Scope

Key Market Segmentation

Haptic Technology Market- By Component 

o   Hardware

o   Software

Haptic Technology Market- By Feedback Type 

o   Camouflage

o   Energy Harvest

o   Temperature Monitoring & Control

o   Protection & Mobility

o   Health Monitoring

Haptic Technology Market- By Application

o   Consumer Devices

o   Gaming

o   Automotive & Transportation

o   Education & Research

o   Commercial & Industrial

o   Healthcare

o   Others

Haptic Technology Market- By Region

North America

US

o   Canada

o   Mexico

Europe

o   Germany

o   UK

o   France

o   Italy

o   Spain

o   Russia

o   Benelux

o   Nordics

Rest of Europe

Asia-Pacific

o   China

o   India

o   Japan

o   South Korea

Rest of Asia-Pacific

Middle East and Africa

South America