Haptic Technology Market

Haptic Technology Market by Component (Hardware, Software), Feedback Type (Tactile, Force), Application (Consumer Devices, Automotive & Transportation, Healthcare, Commercial & Industrial, Others) and Region - Global Forecast to 2026

Report Code: SE 3384 Jan, 2021, by marketsandmarkets.com

[194 Pages Report] The Global haptic technology market is expected to reach USD 4.6 billion by 2026, growing at a CAGR of 12.0% during the forecast period.

Increasing integration of haptics into consumer devices is the primary factor driving the market growth. Moreover, growing adoption of haptic technology in automobile safety applications will drive the demand for this technology in the near future.

Haptic Technology Market

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The haptic technology market is expected to decline in 2020, mainly due to the impact of COVID-19. Governments of several major economies have enforced lockdowns to curb the spread of COVID-19. With lockdown in place, manufacturing activities have been affected significantly. For instance, in January 2020, the Chinese government announced a lockdown of more than 30 days to tackle COVID-19. As the majority of the haptic technology hardware devices are manufactured in China, the production and supply chain has taken a significant hit. The lockdown had drastically affected the manufacturing capacity of China, as all major ship container companies had stopped functioning out of Chinese ports and transporting goods from China to other countries in haptic technology market.

Lockdown implemented in other countries caused supply chain disruptions and labor shortages in the consumer electronics and automotive industries, the most prominent industries for haptic technology. Companies were not able to source the required labor for their operations due to travel restrictions. Even though lockdown restrictions were lifted in many regions, manufacturing companies were unable to get the required workforce due to travel restrictions. These factors have resulted in a significant decline in haptic technology market in 2020. The manufacturing sector is expected to pick up the pace gradually in the coming months, and the market is expected to recover by the end of 2021.

Haptic Technology Market Dynamics

Driver: Increasing integration of haptics into consumer devices

The growing use of consumer electronic devices such as smartphones, tablets, and other wearable devices is one of the major factors increasing the demand for haptic technology. Almost all smartphones and tablets are equipped with haptics, and the trend is shifting toward their integration into smartwatches and wristbands. Haptic feedback finds applications and acts as a powerful tool in wearable devices technology, such as smartwatches, wristbands, and fitness trackers, having faster controls, better battery life, and user-friendly interactions. Haptics in these wearable devices convey information and provide real-life experiences.

Restraint: High cost of force feedback technology

Haptics has gained acceptance in smartphones and tablets and has reached a level of saturation in these tech-devices. Many companies are assessing the integration of haptic technology and evaluating the risk and cost of adding the feature. Although the integration of haptics (tactile haptics) into mobiles and tablets does not involve high costs, force feedback haptic devices are costlier compared with tactile feedback haptic devices. Force feedback haptic tech requires efficient devices that are available in 3 degrees of freedom (DoF), 6 DoF, and 7 DoF, which allow users to experience real-time virtual haptics in several applications. Force feedback-based haptic devices are used in simulation applications in the medical, automotive, aerospace, and manufacturing industries, as well as in several ergonomic studies. These haptic devices are typically bulky, which becomes is a major issue in the case of wearable haptic devices technology.

Opportunity: Technological advancements in haptic technology

Haptic technology, which was once limited to smartphones, tablets, and other consumer devices, is now finding applications in new areas such as education and robotics. In robotics, haptic devices such as gloves are used by robot operators to manipulate a robotic hand or other end effectors with precise control. With the use of haptic gloves, robot operators can precisely control the robot arms even while sitting miles away from the factory floor. HaptX (US) is one of the major providers of haptic gloves for robotic applications.

Challenge: Technical challenges related to product design

The major challenge in the haptic technology market pertains to the technical challenges faced by the product manufacturers for enabling haptic functionality in several devices such as smartphones, tablets, surgical instruments, automobile dashboards, and gaming consoles. Haptic technology is certainly a valuable addition for providing user-friendliness and direction to any device, although before incorporating haptic feedback into a product, it is imperative to consider which components would best fit into a particular system. The key facts that are taken into consideration under system constraints for providing ideal feedback performance include the actuator design and associated driver features. The manufacturers should also investigate how effectively they can integrate the controller feature into the overall product design.

Haptic software expected to witness a higher market growth during the forecast period

The haptic technology market for software is expected to grow at a higher CAGR during the forecast period. Haptic software is the part of the haptic stack that 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 create high-quality haptic experiences, it is critical that the software layer has performance-oriented functionality. With technological advancements in consumer devices and increased adoption of haptic-enabled tech devices, the software market is expected to grow at a significant rate during the forecast period.

Automotive & transportation application is expected to witness the largest market growth during the forecast period

The haptic tech market for the automotive & transportation application is expected to grow at the highest CAGR during the forecast period. This can be attributed to the consistent demand for high-performance electronic systems in hybrid electric vehicles and other high-end automobiles. Also, there has been an increasing adoption of haptics in-car infotainment systems and touchscreens in GPS. Haptic technology is also used in accelerator pedals, climate control screens, dashboards, and steering wheels. Several automobile manufacturers such as BMW, Audi, Mercedes-Benz, Toyota, Tesla, Volkswagen, and Honda have implemented haptics in their cars. Also, automobile companies are entering into partnerships with haptic solutions providers to meet their haptic needs. Such developments are expected to drive the market for automotive & transportation application during the forecast period.

Asia Pacific is the leading haptic technology market, globally, by value

APAC haptic technology market is projected to lead the industry from 2021 to 2026. Rising disposable income, which has increased the adoption of consumer devices, is one of the major driving factors for market growth. China is home to many leading smartphone OEMs such as Huawei, Oppo, Vivo, Xiaomi, and OnePlus. Also, China is the largest end user of consumer devices, including smartphones and tablets. It is one of the leading countries in terms of vehicle production and sale. The rising trend of adoption of advanced technologies in vehicles such as infotainment systems and touchscreen-enabled applications such as dashboards, navigation systems, climate control panels, window controls is expected to create growth opportunities for the automotive application segment. The growing adoption of haptic technology in consumer devices is expected to drive the growth of market in APAC.

Haptic Technology Market  by Region

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Key Market Players

The haptic technology market is dominated by players such as Texas Instruments (US), Johnson Electric (Hong Kong), AAC Technologies (China), TDK (Japan), and Microchip Technology (US).

 Haptic Technology Market Scope

Report Metric

Details

Estimated Market Size  USD 2.6 Billion
Projected Market Size  USD 4.6 Billion
Growth Rate  CAGR of 12.0%

Market size available for years

2017-2026

Base year considered

2020

Forecast period

2021-2026

Forecast units

Value (USD Million), Volume (Million Units)

Segments covered

By Component, By Feedback Type, By Application

Geographies covered

North America, Europe, APAC, Rest of the World

Companies covered

The major market players include Texas Instruments (US), Johnson Electric (Hong Kong), AAC Technologies (China), TDK (Japan), and Microchip Technology (US) (Total 25 companies)

The study categorizes the haptic technology market based on component, feedback type, and application at the regional and global levels.

 Haptic Technology Market By Component

  • Hardware
  • Software

By Feedback Type

  • Tactile
  • Force

By Application

  • Consumer Devices
  • Automotive & Transportation
  • Education & Research
  • Commercial & Industrial
  • Healthcare
  • Others

 Haptic Technology Market By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Rest of Europe
  • APAC
    • China
    • Japan
    • South Korea
    • Rest of APAC
  • Rest of the World
    • Middle East & Africa
    • South America

Recent Developments in  Haptic Technology Industry

  • In November 2020, Ultraleap signed an agreement with IPlan Ideas Events and its division, IPlan Ideas Technologies (IPI Tech), a subsidiary of UAE-based Hawas Group, to bring Ultraleap’s hand tracking and mid-air haptic technologies to clients in the UAE. IPI Tech will introduce the technology to a range of sectors, including kiosk makers, retail, advertising and marketing, and cinemas, among others.
  • In September 2020, Immersion signed a multi-year license renewal with LG Electronics (South Korea) for continued use of TouchSense software and haptic technologies in its mobile devices. LG is expected to continue the use of Immersion haptic software in its entire range of smartphones.
  • In July 2019, Microchip Technology announced the opening of a new R&D center in Chennai, India. The new R&D center is aimed at catalyzing the development of the local ecosystem for integrated circuit design and specialized embedded systems development and employs around 1,200 employees.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 26)
    1.1 STUDY OBJECTIVES
    1.2 DEFINITION
    1.3 STUDY SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 GEOGRAPHIC SCOPE
    1.4 INCLUSIONS AND EXCLUSIONS
    1.5 YEARS CONSIDERED
    1.6 CURRENCY
    1.7 STAKEHOLDERS
    1.8 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 30)
    2.1 RESEARCH DATA
           FIGURE 1 HAPTIC TECHNOLOGY MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION
           FIGURE 2 MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key industry insights
                    2.1.2.2 Breakdown of primaries
                    2.1.2.3 Key data from primary sources
    2.2 MARKET SIZE ESTIMATION
           FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY SIDE ANALYSIS
           FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE) – IDENTIFICATION OF REVENUE GENERATED BY COMPANIES FROM HAPTIC TECHNOLOGY OFFERINGS
           FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH FOR ESTIMATING MARKET SIZE
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach for capturing market size by bottom-up analysis (demand side)
                               FIGURE 6 MARKET: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for capturing market size by top-down analysis (supply side)
                               FIGURE 7 HAPTIC TECHNOLOGY MARKET: TOP-DOWN APPROACH
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 8 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS
           FIGURE 9 ASSUMPTIONS FOR RESEARCH STUDY

3 EXECUTIVE SUMMARY (Page No. - 43)
    FIGURE 10 SOFTWARE SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
    FIGURE 11 TACTILE FEEDBACK TYPE TO EXHIBIT HIGHER CAGR DURING FORECAST PERIOD
    FIGURE 12 AUTOMOTIVE & TRANSPORTATION APPLICATION TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
    FIGURE 13 APAC HAPTIC TECHNOLOGY MARKET TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD

4 PREMIUM INSIGHTS (Page No. - 47)
    4.1 ATTRACTIVE OPPORTUNITIES IN MARKET
           FIGURE 14 INCREASING INTEGRATION OF HAPTICS INTO CONSUMER ELECTRONIC DEVICES TO BOOST GROWTH OF MARKET
    4.2 MARKET FOR HARDWARE, BY COMPONENT
           FIGURE 15 MARKET FOR ACTUATORS TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
    4.3 MARKET IN APAC, BY COUNTRY AND APPLICATION
           FIGURE 16 CHINA AND CONSUMER DEVICES SEGMENT HELD LARGEST SHARES OF HAPTIC TECHNOLOGY IN APAC IN 2020
    4.4 COUNTRY-WISE MARKET GROWTH RATE
           FIGURE 17 CHINA TO RECORD HIGHEST CAGR IN MARKET DURING FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 49)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 18 IMPACT ANALYSIS OF DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN HAPTIC TECHNOLOGY MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Increasing integration of haptics into consumer devices
                    5.2.1.2 Growing adoption of technology in medical industry
                    5.2.1.3 Growing use of haptic technology in automobile safety applications
           5.2.2 RESTRAINTS
                    5.2.2.1 High cost of force feedback technology
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Use of haptics to help visually impaired
                    5.2.3.2 Technological advancements in haptic technology
           5.2.4 CHALLENGES
                    5.2.4.1 Technical challenges related to product design
                    5.2.4.2 Manufacturing and supply chain constraints due to COVID-19 pandemic
    5.3 VALUE CHAIN ANALYSIS
           FIGURE 19 HAPTIC TECHNOLOGY VALUE CHAIN ANALYSIS
    5.4 TECHNOLOGY ECOSYSTEM
    5.5 PORTER’S FIVE FORCES MODEL
           TABLE 1 MARKET: PORTER’S FIVE FORCES ANALYSIS
    5.6 USE CASES FOR MARKET
    5.7 TECHNOLOGY ANALYSIS
    5.8 AVERAGE SELLING PRICE TREND
           FIGURE 20 AVERAGE SELLING PRICE TREND FOR HAPTIC COMPONENTS, 2020–2026
           TABLE 2 AVERAGE SELLING PRICE TREND FOR HAPTIC TECHNOLOGY COMPONENTS, 2020–2026
    5.9 TRADE ANALYSIS
           TABLE 3 ACTUATOR IMPORT DATA, BY COUNTRY, 2015–2019 (USD MILLION)
           TABLE 4 ACTUATOR EXPORT DATA, BY COUNTRY, 2015–2019 (USD MILLION)
           TABLE 5 MICROCONTROLLER IMPORT DATA, BY COUNTRY, 2015–2019 (USD BILLION)
           TABLE 6 MICROCONTROLLER EXPORT DATA, BY COUNTRY, 2015–2019 (USD BILLION)
    5.10 PATENT ANALYSIS
    5.11 REGULATORY LANDSCAPE PERTAINING TO MARKET

6 DIFFERENT TYPES OF HAPTIC DEVICES (Page No. - 69)
    6.1 INTRODUCTION
    6.2 ACTIVE HAPTICS
    6.3 PASSIVE HAPTICS

7 TECHNOLOGY FOR DIFFERENT TOUCH SCREEN TYPES (Page No. - 70)
    7.1 INTRODUCTION
    7.2 CAPACITIVE
    7.3 RESISTIVE
    7.4 OTHERS

8 HAPTIC TECHNOLOGY MARKET, BY COMPONENT (Page No. - 71)
    8.1 INTRODUCTION
           TABLE 7 GLOBAL MARKET, BY VALUE, 2017–2026 (USD MILLION)
           TABLE 8 GLOBAL MARKET, BY VOLUME, 2017–2026 (MILLION UNITS)
           TABLE 9 MARKET, BY COMPONENT, 2017–2019 (USD MILLION)
           FIGURE 21 HARDWARE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
           TABLE 10 MARKET, BY COMPONENT, 2020–2026 (USD MILLION)
    8.2 HARDWARE
           TABLE 11 MARKET FOR HARDWARE, BY COMPONENT, 2017–2019 (USD MILLION)
           TABLE 12 MARKET FOR HARDWARE, BY COMPONENT, 2020–2026 (USD MILLION)
           FIGURE 22 APAC HAPTIC TECHNOLOGY MARKET FOR HARDWARE TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 13 MARKET FOR HARDWARE, BY REGION, 2017–2019 (USD MILLION)
           TABLE 14 MARKET FOR HARDWARE, BY REGION, 2020–2026 (USD MILLION)
           FIGURE 23 HAPTIC TECHNOLOGY HARDWARE MARKET TO EXHIBIT HIGHEST CAGR FOR AUTOMOTIVE & TRANSPORTATION APPLICATION DURING FORECAST PERIOD
           TABLE 15 MARKET FOR HARDWARE, BY APPLICATION, 2017–2019 (USD MILLION)
           TABLE 16 MARKET FOR HARDWARE, BY APPLICATION, 2020–2026 (USD MILLION)
           8.2.1 ACTUATORS
                    TABLE 17 MARKET FOR ACTUATORS, BY TYPE, 2017–2019 (USD MILLION)
                    TABLE 18 TECHNOLOGY MARKET FOR ACTUATORS, BY TYPE, 2020–2026 (USD MILLION)
                    TABLE 19 MARKET FOR ACTUATORS, BY APPLICATION, 2017–2019 (USD MILLION)
                    TABLE 20 MARKET FOR ACTUATORS, BY APPLICATION, 2020–2026 (USD MILLION)
                    8.2.1.1 Eccentric rotating mass (ERM) and linear resonant actuators (LRAs)
                               8.2.1.1.1 ERMs and LRAs to hold the largest market share during forecast period
                                             TABLE 21 HAPTIC TECHNOLOGY FOR ERM AND LRA ACTUATORS, BY APPLICATION, 2017–2019 (USD MILLION)
                                             TABLE 22 MARKET FOR ERM AND LRA ACTUATORS, BY APPLICATION, 2020–2026 (USD MILLION)
                    8.2.1.2 Piezoelectric Actuators
                               8.2.1.2.1 Better response time offered by piezoelectric actuators is driving growth of segment
           8.2.2 DRIVERS AND MICROCONTROLLERS
                    8.2.2.1 Haptic driver works as a bridge between controller and actuator
                               TABLE 23 MARKET FOR DRIVERS AND MICROCONTROLLERS, BY APPLICATION, 2017–2019 (USD MILLION)
                               TABLE 24 MARKET FOR DRIVERS AND MICROCONTROLLERS, BY APPLICATION, 2020–2026 (USD MILLION)
    8.3 SOFTWARE
           8.3.1 SOFTWARE ENABLES USERS TO INTERACT WITH DEVICES
                    FIGURE 24 MARKET FOR SOFTWARE IN APAC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 25 MARKET FOR SOFTWARE, BY REGION, 2017–2019 (USD MILLION)
                    TABLE 26 MARKET FOR SOFTWARE, BY REGION, 2020–2026 (USD MILLION)
                    TABLE 27 MARKET FOR SOFTWARE, BY APPLICATION, 2017–2019 (USD MILLION)
                    TABLE 28 MARKET FOR SOFTWARE, BY APPLICATION, 2020–2026 (USD MILLION)
    8.4 IMPACT OF COVID-19

9 HAPTIC TECHNOLOGY MARKET, BY FEEDBACK TYPE (Page No. - 85)
    9.1 INTRODUCTION
           FIGURE 25 TACTILE FEEDBACK SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
           TABLE 29 MARKET, BY FEEDBACK TYPE, 2017–2019 (USD MILLION)
           TABLE 30 MARKET, BY FEEDBACK TYPE, 2020–2026 (USD MILLION)
    9.2 TACTILE
           9.2.1 GROWING USE OF TECHNOLOGY IN CONSUMER DEVICES TO DRIVE GROWTH OF TACTILE FEEDBACK SEGMENT
                    TABLE 31 MARKET FOR TACTILE FEEDBACK TYPE, BY REGION, 2017–2019 (USD MILLION)
                    TABLE 32 MARKET FOR TACTILE FEEDBACK TYPE, BY REGION, 2020–2026 (USD MILLION)
    9.3 FORCE
           9.3.1 ROBOTICS AND GAMING APPLICATIONS TO CREATE LUCRATIVE OPPORTUNITIES FOR FORCE FEEDBACK SEGMENT
                    TABLE 33 MARKET FOR FORCE FEEDBACK TYPE, BY REGION, 2017–2019 (USD MILLION)
                    TABLE 34 MARKET FOR FORCE FEEDBACK TYPE, BY REGION, 2020–2026 (USD MILLION)

10 MARKET, BY APPLICATION (Page No. - 90)
     10.1 INTRODUCTION
               FIGURE 26 CONSUMER DEVICES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
               TABLE 35 HAPTIC TECHNOLOGY, BY APPLICATION, 2017–2019 (USD MILLION)
               TABLE 36 MARKET, BY APPLICATION, 2020–2026 (USD MILLION)
     10.2 CONSUMER DEVICES
               FIGURE 27 HAPTIC TECHNOLOGY IN ASIA PACIFIC MARKET FOR CONSUMER DEVICES TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
               TABLE 37 MARKET FOR CONSUMER DEVICES, BY REGION, 2017–2019 (USD MILLION)
               TABLE 38 MARKET FOR CONSUMER DEVICES, BY REGION, 2020–2026 (USD MILLION)
               TABLE 39 MARKET FOR HARDWARE FOR CONSUMER DEVICES, BY REGION, 2017–2019 (USD MILLION)
               TABLE 40 MARKET FOR HARDWARE FOR CONSUMER DEVICES, BY REGION, 2020–2026 (USD MILLION)
            FIGURE 28 APAC HAPTIC TECHNOLOGY MARKET FOR ACTUATORS IN CONSUMER DEVICES TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
               TABLE 41 MARKET FOR ACTUATORS FOR CONSUMER DEVICES, BY REGION, 2017–2019 (USD MILLION)
               TABLE 42 MARKET FOR ACTUATORS FOR CONSUMER DEVICES, BY REGION, 2020–2026 (USD MILLION)
               TABLE 43 MARKET FOR ERM AND LRA FOR CONSUMER DEVICES, BY REGION, 2017–2019 (USD MILLION)
               TABLE 44 MARKET FOR ERM AND LRA FOR CONSUMER DEVICES, BY REGION, 2020–2026 (USD MILLION)
               TABLE 45 MARKET FOR PIEZOELECTRIC ACTUATORS FOR CONSUMER DEVICES, BY REGION, 2017–2019 (USD MILLION)
               TABLE 46 MARKET FOR PIEZOELECTRIC ACTUATORS FOR CONSUMER DEVICES, BY REGION, 2020–2026 (USD MILLION)
               TABLE 47 MARKET FOR DRIVERS AND MICROCONTROLLERS FOR CONSUMER DEVICES, BY REGION, 2017–2019 (USD MILLION)
               TABLE 48 MARKET FOR DRIVERS AND MICROCONTROLLERS FOR CONSUMER DEVICES, BY REGION, 2020–2026 (USD MILLION)
               TABLE 49 MARKET FOR SOFTWARE FOR CONSUMER DEVICES,  BY REGION, 2017–2019 (USD MILLION)
               TABLE 50 HAPTIC TECHNOLOGY MARKET FOR SOFTWARE FOR CONSUMER DEVICES, BY REGION, 2020–2026 (USD MILLION)
             10.2.1 SMARTPHONES, TABLETS, AND SMARTWATCHES
                       10.2.1.1 Haptic components find major applications in smartphones, tablets, and smartwatches
             10.2.2 AUGMENTED REALITY (AR) & VIRTUAL REALITY (VR) AND GAMING DEVICES
                       10.2.2.1 Haptic in AR and VR has evolved at a significant rate in the past few years
             10.2.3 OTHER CONSUMER DEVICES
     10.3 AUTOMOTIVE & TRANSPORTATION
             10.3.1 AUTOMOTIVE & TRANSPORTATION APPLICATION TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
                       FIGURE 29 HAPTIC TECHNOLOGY IN ASIA PACIFIC MARKET FOR AUTOMOTIVE APPLICATION TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
                       TABLE 51 MARKET FOR AUTOMOTIVE & TRANSPORTATION, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 52 MARKET FOR AUTOMOTIVE & TRANSPORTATION, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 53 MARKET FOR HARDWARE FOR AUTOMOTIVE & TRANSPORTATION, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 54 MARKET FOR HARDWARE FOR AUTOMOTIVE & TRANSPORTATION, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 55 MARKET FOR ACTUATORS FOR AUTOMOTIVE & TRANSPORTATION, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 56 MARKET FOR ACTUATORS FOR AUTOMOTIVE & TRANSPORTATION, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 57 MARKET FOR ERM AND LRA FOR AUTOMOTIVE & TRANSPORTATION, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 58 MARKET FOR ERM AND LRA FOR AUTOMOTIVE & TRANSPORTATION, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 59 MARKET FOR PIEZOELECTRIC ACTUATORS FOR AUTOMOTIVE & TRANSPORTATION, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 60 MARKET FOR PIEZOELECTRIC ACTUATORS FOR AUTOMOTIVE & TRANSPORTATION, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 61 MARKET FOR DRIVERS AND MICROCONTROLLERS FOR AUTOMOTIVE & TRANSPORTATION, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 62 HAPTIC TECHNOLOGY FOR DRIVERS AND MICROCONTROLLERS FOR AUTOMOTIVE & TRANSPORTATION, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 63 MARKET FOR SOFTWARE FOR AUTOMOTIVE & TRANSPORTATION, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 64 MARKET FOR SOFTWARE FOR AUTOMOTIVE & TRANSPORTATION, BY REGION, 2020–2026 (USD MILLION)
     10.4 EDUCATION & RESEARCH
             10.4.1 HAPTIC EDUCATIONAL DEVICES ARE EXPERIENCING DEVELOPMENTS FOR NEW TEACHING TECHNIQUES USING TACTILE AND FORCE FEEDBACK
                       TABLE 65 MARKET FOR EDUCATION & RESEARCH, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 66 MARKET FOR EDUCATION & RESEARCH, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 67 MARKET FOR HARDWARE FOR EDUCATION & RESEARCH, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 68 MARKET FOR HARDWARE FOR EDUCATION & RESEARCH, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 69 MARKET FOR ACTUATORS FOR EDUCATION & RESEARCH, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 70 MARKET FOR ACTUATORS FOR EDUCATION & RESEARCH, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 71 MARKET FOR ERM AND LRA FOR EDUCATION & RESEARCH, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 72 HAPTIC TECHNOLOGY FOR ERM AND LRA FOR EDUCATION & RESEARCH, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 73 MARKET FOR PIEZOELECTRIC ACTUATORS FOR EDUCATION & RESEARCH, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 74 MARKET FOR PIEZOELECTRIC ACTUATORS FOR EDUCATION & RESEARCH, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 75 MARKET FOR DRIVERS AND MICROCONTROLLERS FOR EDUCATION & RESEARCH, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 76 MARKET FOR DRIVERS AND MICROCONTROLLERS FOR EDUCATION & RESEARCH, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 77 MARKET FOR SOFTWARE FOR EDUCATION & RESEARCH, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 78 MARKET FOR SOFTWARE FOR EDUCATION & RESEARCH, BY REGION, 2020–2026 (USD MILLION)
     10.5 HEALTHCARE
             10.5.1 PRIME AREAS THAT USE HAPTICS IN MEDICINE ARE MEDICAL TRAINING, REHABILITATION, AND ROBOTIC SURGERIES
                       TABLE 79 MARKET FOR HEALTHCARE, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 80 MARKET FOR HEALTHCARE, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 81 HAPTIC TECHNOLOGY MARKET FOR HARDWARE FOR HEALTHCARE, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 82 MARKET FOR HARDWARE FOR HEALTHCARE, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 83 MARKET FOR ACTUATORS FOR HEALTHCARE, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 84 MARKET FOR ACTUATORS FOR HEALTHCARE, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 85 MARKET FOR ERM AND LRA FOR HEALTHCARE, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 86 MARKET FOR ERM AND LRA FOR HEALTHCARE, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 87 MARKET FOR PIEZOELECTRIC ACTUATORS FOR HEALTHCARE, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 88 MARKET FOR PIEZOELECTRIC ACTUATORS FOR HEALTHCARE BY REGION, 2020–2026 (USD MILLION)
                       TABLE 89 MARKET FOR DRIVERS AND MICROCONTROLLERS FOR HEALTHCARE, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 90 MARKET FOR DRIVERS AND MICROCONTROLLERS FOR HEALTHCARE, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 91 MARKET FOR SOFTWARE FOR HEALTHCARE, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 92 MARKET FOR SOFTWARE FOR HEALTHCARE, BY REGION, 2020–2026 (USD MILLION)
     10.6 COMMERCIAL & INDUSTRIAL
             10.6.1 HAPTIC TECHNOLOGY IS WIDELY USED IN COMMERCIAL APPLICATIONS—ATMS, POS SYSTEMS, AND VENDING MACHINES
                       TABLE 93 MARKET FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 94 MARKET FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 95 MARKET FOR HARDWARE FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 96 MARKET FOR HARDWARE FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 97 TECHNOLOGY MARKET FOR ACTUATORS FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 98 MARKET FOR ACTUATORS FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 99 MARKET FOR ERM AND LRA FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 100 MARKET FOR ERM AND LRA FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 101 MARKET FOR PIEZOELECTRIC ACTUATORS FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 102 MARKET FOR PIEZOELECTRIC ACTUATORS FOR COMMERCIAL & INDUSTRIAL BY REGION, 2020–2026 (USD MILLION)
                       TABLE 103 MARKET FOR DRIVERS AND MICROCONTROLLERS FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 104 MARKET FOR DRIVERS AND MICROCONTROLLERS FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2020–2026 (USD MILLION)
                       TABLE 105 MARKET FOR SOFTWARE FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2017–2019 (USD MILLION)
                       TABLE 106 MARKET FOR SOFTWARE FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2020–2026 (USD MILLION)
     10.7 OTHERS
               TABLE 107 HAPTIC TECHNOLOGY FOR OTHER APPLICATIONS, BY REGION, 2017–2019 (USD MILLION)
               TABLE 108 MARKET FOR OTHER APPLICATIONS, BY REGION, 2020–2026 (USD MILLION)
               TABLE 109 MARKET FOR HARDWARE FOR OTHER APPLICATIONS, BY REGION, 2017–2019 (USD MILLION)
               TABLE 110 MARKET FOR HARDWARE FOR OTHER APPLICATIONS, BY REGION, 2020–2026 (USD MILLION)
               TABLE 111 MARKET FOR ACTUATORS FOR OTHER APPLICATIONS, BY REGION, 2017–2019 (USD MILLION)
               TABLE 112 MARKET FOR ACTUATORS FOR OTHER APPLICATIONS, BY REGION, 2020–2026 (USD MILLION)
               TABLE 113 MARKET FOR ERM AND LRA FOR OTHER APPLICATIONS, BY REGION, 2017–2019 (USD MILLION)
               TABLE 114 MARKET FOR ERM AND LRA FOR OTHER APPLICATIONS, BY REGION, 2020–2026 (USD MILLION)
               TABLE 115 MARKET FOR PIEZOELECTRIC ACTUATORS FOR OTHER APPLICATIONS, BY REGION, 2017–2019 (USD MILLION)
               TABLE 116 MARKET FOR PIEZOELECTRIC ACTUATORS FOR OTHER APPLICATIONS BY REGION, 2020–2026 (USD MILLION)
               TABLE 117 MARKET FOR DRIVERS AND MICROCONTROLLERS FOR OTHER APPLICATIONS, BY REGION, 2017–2019 (USD MILLION)
               TABLE 118 MARKET FOR DRIVERS AND MICROCONTROLLERS FOR OTHER APPLICATIONS, BY REGION, 2020–2026 (USD MILLION)
               TABLE 119 MARKET FOR SOFTWARE FOR OTHER APPLICATIONS, BY REGION, 2017–2019 (USD MILLION)
               TABLE 120 MARKET FOR SOFTWARE FOR OTHER APPLICATIONS, BY REGION, 2020–2026 (USD MILLION)
     10.8 IMPACT OF COVID-19

11 GEOGRAPHIC ANALYSIS (Page No. - 126)
     11.1 INTRODUCTION
               FIGURE 30 APAC TO DOMINATE MARKET DURING FORECAST PERIOD
               TABLE 121 MARKET, BY REGION, 2017–2019 (USD MILLION)
               TABLE 122 MARKET, BY REGION, 2020–2026 (USD MILLION)
     11.2 NORTH AMERICA
               FIGURE 31 NA HAPTIC TECHNOLOGY : SNAPSHOT
               TABLE 123 NA HAPTIC TECHNOLOGY, BY COUNTRY, 2017–2019 (USD MILLION)
               TABLE 124 MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2026 (USD MILLION)
               TABLE 125 MARKET IN NORTH AMERICA, BY APPLICATION, 2017–2019 (USD MILLION)
               TABLE 126 HAPTIC TECHNOLOGY MARKET IN NORTH AMERICA, BY APPLICATION, 2020–2026 (USD MILLION)
             11.2.1 US
                       11.2.1.1 US to hold the largest share of NA haptic technology during the forecast period
             11.2.2 CANADA
                       11.2.2.1 Government initiatives and investments to aid market growth in Canada
             11.2.3 MEXICO
                       11.2.3.1 Expanding consumer electronics and automotive industries to aid market growth in Mexico
     11.3 EUROPE
               FIGURE 32 EUROPE HAPTIC TECHNOLOGY: SNAPSHOT
               TABLE 127 MARKET IN EUROPE, BY COUNTRY, 2017–2019 (USD MILLION)
               TABLE 128 MARKET IN EUROPE, BY COUNTRY, 2020–2026 (USD MILLION)
               TABLE 129 MARKET IN EUROPE, BY APPLICATION, 2017–2019 (USD MILLION)
               TABLE 130 MARKET IN EUROPE, BY APPLICATION, 2020–2026 (USD MILLION)
             11.3.1 UK
                       11.3.1.1 Government support to develop immersive technologies to drive market growth
             11.3.2 GERMANY
                       11.3.2.1 Germany to account for largest size of European haptic technology market during review period
             11.3.3 FRANCE
                       11.3.3.1 market in France to register highest CAGR during forecast period
             11.3.4 REST OF EUROPE
     11.4 ASIA PACIFIC (APAC)
               FIGURE 33 APAC MARKET: SNAPSHOT
               TABLE 131 HAPTIC TECHNOLOGY IN ASIA PACIFIC MARKET, BY COUNTRY, 2017–2019 (USD MILLION)
               TABLE 132 MARKET IN APAC, BY COUNTRY, 2020–2026 (USD MILLION)
               TABLE 133 MARKET IN APAC, BY APPLICATION, 2017–2019 (USD MILLION)
               TABLE 134 MARKET IN APAC, BY APPLICATION, 2020–2026 (USD MILLION)
             11.4.1 CHINA
                       11.4.1.1 China to account for largest size of market from 2021 to 2026
             11.4.2 JAPAN
                       11.4.2.1 Increasing integration of haptic technology into automobiles to drive market growth in Japan
             11.4.3 SOUTH KOREA
                       11.4.3.1 Introduction of latest smartphones by Samsung and LG integrated with technology to boost market growth
             11.4.4 REST OF HAPTIC TECHNOLOGY IN ASIA PACIFIC MARKET
     11.5 REST OF THE WORLD (ROW)
               FIGURE 34 SOUTH AMERICA TO HOLD LARGEST SHARE OF ROW MARKET DURING FORECAST PERIOD
               TABLE 135 MARKET IN ROW, BY REGION, 2017–2019 (USD MILLION)
               TABLE 136 MARKET IN ROW, BY REGION, 2020–2026 (USD MILLION)
               TABLE 137 MARKET IN ROW, BY APPLICATION, 2017–2019 (USD MILLION)
               TABLE 138 HAPTIC TECHNOLOGY MARKET IN ROW, BY APPLICATION, 2020–2026 (USD MILLION)
             11.5.1 SOUTH AMERICA
                       11.5.1.1 South American market to register higher CAGR during forecast period
             11.5.2 MIDDLE EAST & AFRICA
                       11.5.2.1 Middle East & Africa to offer significant growth opportunities for market players
     11.6 IMPACT OF COVID-19

12 COMPETITIVE LANDSCAPE (Page No. - 143)
     12.1 OVERVIEW
     12.2 HAPTIC TECHNOLOGY RANKING ANALYSIS: MARKET, 2020
               TABLE 139 GLOBAL MARKET RANKING ANALYSIS, 2020
     12.3 MARKET SHARE ANALYSIS: MARKET, 2020
               TABLE 140 MARKET SHARE OF TOP 5 PLAYERS IN MARKET (2020)
     12.4 HISTORICAL REVENUE ANALYSIS OF MAJOR MARKET PLAYERS
               FIGURE 35 HISTORICAL REVENUE ANALYSIS OF TOP 5 PLAYERS IN THE MARKET
     12.5 MARKET EVALUATION FRAMEWORK
               TABLE 141 OVERVIEW OF STRATEGIES DEPLOYED BY KEY HAPTIC TECHNOLOGY PLAYERS
             12.5.1 PRODUCT PORTFOLIO
             12.5.2 REGIONAL FOCUS
             12.5.3 MANUFACTURING FOOTPRINT
             12.5.4 ORGANIC/INORGANIC GROWTH STRATEGIES
     12.6 COMPETITIVE LEADERSHIP MAPPING, 2020
             12.6.1 STAR
             12.6.2 EMERGING LEADER
             12.6.3 PERVASIVE
             12.6.4 PARTICIPANT
                       FIGURE 36 COMPANY EVALUATION MATRIX, 2020
             12.6.5 PRODUCT FOOTPRINT ANALYSIS OF TOP PLAYERS
     12.7 START-UP/SME EVALUATION QUADRANT, 2020
             12.7.1 PROGRESSIVE COMPANIES
             12.7.2 RESPONSIVE COMPANIES
             12.7.3 DYNAMIC COMPANIES
             12.7.4 STARTING BLOCKS
                       FIGURE 37 HAPTIC TECHNOLOGY MARKET (GLOBAL), START-UP/SME EVALUATION QUADRANT, 2020
     12.8 COMPETITIVE SITUATIONS AND TRENDS
             12.8.1 PRODUCT LAUNCHES
                       TABLE 142 PRODUCT LAUNCHES, 2018–2019
             12.8.2 AGREEMENTS, PARTNERSHIPS, AND CONTRACTS
                       TABLE 143 AGREEMENTS, PARTNERSHIPS, AND CONTRACTS, 2019–2020
             12.8.3 EXPANSIONS
                       TABLE 144 EXPANSION, 2018-2019

13 COMPANY PROFILES (Page No. - 155)
(Business Overview, Products Offered, Recent Developments, COVID-19-specific developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
     13.1 INTRODUCTION
     13.2 KEY PLAYERS
             13.2.1 TEXAS INSTRUMENTS
                       FIGURE 38 TEXAS INSTRUMENTS: COMPANY SNAPSHOT
             13.2.2 JOHNSON ELECTRIC
                       FIGURE 39 JOHNSON ELECTRIC: COMPANY SNAPSHOT
             13.2.3 AAC TECHNOLOGIES
                       FIGURE 40 AAC TECHNOLOGIES: COMPANY SNAPSHOT
             13.2.4 TDK
                       FIGURE 41 TDK: COMPANY SNAPSHOT
             13.2.5 MICROCHIP TECHNOLOGY
                       FIGURE 42 MICROCHIP TECHNOLOGY: COMPANY SNAPSHOT
             13.2.6 IMMERSION
                       FIGURE 43 IMMERSION: COMPANY SNAPSHOT
             13.2.7 ON SEMICONDUCTOR
                       FIGURE 44 ON SEMICONDUCTOR: COMPANY SNAPSHOT
             13.2.8 PRECISION MICRODRIVES
             13.2.9 SYNAPTICS
                       FIGURE 45 SYNAPTICS: COMPANY SNAPSHOT
             13.2.10 ULTRALEAP
     13.3 OTHER KEY PLAYERS
             13.3.1 AITO BV
             13.3.2 ALPS ALPINE
             13.3.3 CIRRUS LOGIC
             13.3.4 DIALOG SEMICONDUCTOR
             13.3.5 HAP2U
             13.3.6 IMAGES
             13.3.7 INFINEON
             13.3.8 JINLONG MACHINERY & ELECTRONICS
             13.3.9 NIDEC
             13.3.10 SMK CORPORATION

*Details on Business Overview, Products Offered, COVID-19-specific developments, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.

14 APPENDIX (Page No. - 188)
     14.1 DISCUSSION GUIDE
     14.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     14.3 AVAILABLE CUSTOMIZATIONS
     14.4 RELATED REPORTS
     14.5 AUTHOR DETAILS

The study involved four major activities in estimating the current size of the global haptic technology market. Exhaustive secondary research has been done to collect information about the market, the peer market, and the parent market. Validating findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the complete market size. After that, market breakdown and data triangulation methods have been used to estimate the market size of segments and subsegments.

Secondary Research

The secondary sources referred to for this research study include solar industry organizations such as AsiaHaptics Society (AHS), Institute of Electrical & Electronics Engineers (IEEE), and International Society for Haptics, and corporate filings (such as annual reports, investor presentations, and financial statements). Secondary data has been collected and analyzed to arrive at the overall market size, further validated by primary research.

Primary Research

Extensive primary research has been conducted after acquiring an understanding of the haptic technology market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand-and supply-side players across four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (the Middle East & Africa and South America). Approximately 30% and 70% of primary interviews have been conducted from the demand and supply side, respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.

Haptic Technology Market  Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The top-down and bottom-up approaches have been used to estimate and validate the overall size of the haptic technology market. These methods have also been used extensively to estimate the size of various market subsegments.

The research methodology used to estimate the market size by top-down approach includes the following:

  • Focusing initially on top-line investments and expenditures made in the haptic technology market ecosystem.
  • Calculating the market size considering revenues generated by major players through the sale of haptic technology components. Estimating 2020 values by considering COVID-19 impact across the value chain of the haptic technology market. Analyzing recovery scenarios across the globe to further forecast values.
  • Conducting multiple on-field discussions with key opinion leaders across major companies involved in the development of haptic technology to understand the pre-COVID-19 and post-COVID-19 scenarios.
  • Estimating the geographic split using secondary sources based on various factors such as the demand in a specific country and region, role of major players in the market for the development of innovative products, and adoption and penetration rates in particular countries for various end-user applications.

The research methodology used to estimate the market size by bottom-up approach includes the following:

  • Identifying key participants in the haptic technology market that influence the entire market, along with the related component players.
  • Analyzing major manufacturers of haptic technology components, studying their portfolios, and understanding different components and products. Analyzing developments undertaken by key players in the pre-COVID-19 period as well studying the measures/steps undertaken by them to deal with the COVID-19 pandemic.
  • Analyzing the anticipated change in demand in the post-COVID-19 scenario.
  • Analyzing trends pertaining to the use of haptic technology components for different kinds of applications.
  • Tracking the ongoing and upcoming developments in the market, such as investments, R&D activities, product launches, collaborations, partnerships, and forecasting the market based on these developments and other critical parameters.
  • Carrying out multiple discussions with key opinion leaders to understand different types of haptic technology components and applications and recent trends in the market, thereby analyzing the breakup of the scope of work carried out by major companies.
  • Arriving at the market estimates by multiplying the ASP of each component with the shipments for each application, which is further validated with market size obtained based on revenue analysis.
  • Verifying and cross-checking the estimate at every level from the discussion with key opinion leaders such as CXOs, directors, and operations managers, and finally with the domain experts in MarketsandMarkets.
  • Studying various paid and unpaid sources of information such as annual reports, press releases, white papers, and databases.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides, for consumer devices, automotive & transportation, healthcare, commercial & industrial, education & research, and other applications.

Haptic Technology: A Growing Market with Promising Future Outlook

Haptic technology refers to the technology that enables the user to receive tactile feedback through touch sensations. This technology is used in a variety of applications, including gaming, automotive, healthcare, and consumer electronics. The haptic touch market has been growing steadily over the past few years and is expected to continue to grow in the future. The growth in the haptic technology market can be attributed to the increasing demand for haptic technology in consumer electronics, the growing adoption of haptic technology in automotive applications, and the increasing use of haptic technology in gaming and entertainment applications.

The haptic touch market is also expected to grow significantly in the coming years. Haptic touch technology is increasingly being used in smartphones, tablets, and other consumer electronic devices. The growth in the haptic touch market can be attributed to the increasing adoption of smartphones and tablets, the growing demand for wearable devices, and the increasing use of haptic touch technology in automotive and gaming applications. Haptic technology and haptic touch market is positive, with significant growth expected in the coming years. As new applications and use cases are developed, the demand for haptic technology and haptic touch is expected to continue to increase, driving growth in the market.

The Impact of Haptic Touch Market on Haptic Technology: Opportunities and Challenges

The haptic touch market is expected to have a significant impact on the growth and development of haptic technology. As haptic touch technology becomes more widely adopted in consumer electronics, automotive, and other industries, the demand for haptic technology is likely to increase. One of the main ways in which the haptic touch market is expected to impact haptic technology is through increased innovation and development. As more companies invest in haptic touch technology, they are likely to explore new use cases and applications for haptic technology, leading to new developments and advancements in the field.

Additionally, the increasing adoption of haptic touch technology is likely to lead to greater standardization and integration of haptic technology into devices and applications. This could help to reduce the complexity and cost of implementing haptic technology, making it more accessible to a wider range of industries and applications. Another way in which the haptic touch market is likely to impact haptic technology is through increased competition. As more companies enter the haptic touch market, they are likely to compete on factors such as price, performance, and features.

The Road Ahead for Haptic Technology: Five Exciting Growth Use Cases to Watch

The haptics market is expected to continue to grow in the coming years, with new use cases and applications being developed for haptic technology. Here are some futuristic growth use cases of haptic technology:

  1. Virtual and Augmented Reality - Haptic technology is already being used in virtual and augmented reality applications, providing users with a more immersive experience. In the future, haptic technology could be used to simulate the feeling of physical objects in VR and AR environments, creating a more realistic and engaging experience.

  2. Healthcare - Haptic technology could be used in healthcare applications, such as rehabilitation and physical therapy. Haptic feedback could be used to provide patients with feedback on their movements and exercises, helping them to improve their mobility and function.

  3. Robotics - Haptic technology could be used in robotics, providing robots with a sense of touch and allowing them to interact with the physical world more effectively. Haptic feedback could also be used to improve the safety of robots by providing feedback on the forces and pressures that they are exerting.

  4. Smart Transportation - Haptic technology could be used in smart transportation applications, providing drivers with tactile feedback to alert them to potential hazards or changes in road conditions. Haptic feedback could also be used to improve the accuracy of autonomous vehicles, allowing them to better sense and respond to their environment.

  5. Gaming - Haptic technology is already being used in gaming applications, but in the future, it could be used to create even more immersive and engaging gaming experiences. Haptic feedback could be used to simulate the feeling of different types of terrain, weather conditions, and even weapons.

Beyond Touchscreens: The Role of Haptic Communication in Industries of Tomorrow

Haptic communication is a rapidly evolving field that is poised to impact a wide range of industries in the future. Here are some of the industries that are likely to be impacted by haptics communication:

  1. Consumer Electronics - Haptic communication is already being used in consumer electronics, such as smartphones and gaming controllers, to provide users with tactile feedback. In the future, haptic technology is likely to become even more prevalent in consumer electronics, providing users with a more engaging and immersive experience.

  2. Automotive - Haptic technology is being used in automotive applications, such as haptic feedback on touchscreens and steering wheels, to improve the safety and usability of vehicles. In the future, haptic communication is likely to play an even larger role in the automotive industry, providing drivers with feedback on road conditions, vehicle performance, and more.

  3. Healthcare - Haptic communication could be used in healthcare applications, such as telemedicine and remote patient monitoring, to provide patients with a more personalized and interactive experience. Haptic feedback could also be used to improve the accuracy and precision of medical procedures, such as minimally invasive surgeries.

  4. Robotics - Haptic communication could be used in robotics, providing robots with a sense of touch and allowing them to interact with the physical world more effectively. Haptic feedback could also be used to improve the safety of robots by providing feedback on the forces and pressures that they are exerting.

  5. Education and Training - Haptic communication could be used in education and training applications, providing students and trainees with tactile feedback on their performance. Haptic feedback could also be used to simulate real-world scenarios, allowing students and trainees to practice and improve their skills in a safe and controlled environment.

Haptic Touch : Challenges and Opportunities for Future Growth

The haptic touch market is expected to experience significant growth in the future, with new use cases and applications being developed for haptic technology. However, there are also key challenges that the industry will need to address in order to fully realize its potential. Here are some of the growth opportunities and key challenges for the haptic touch market in the future:

Growth Opportunities:

  1. Expansion into new industries - The haptic touch market is already being used in a variety of industries, but there is potential for even further expansion into new areas, such as healthcare, education, and robotics.

  2. Increasing demand for immersive experiences - As consumers continue to seek out more immersive and engaging experiences, the demand for haptic technology is likely to increase, particularly in areas such as gaming and virtual reality.

  3. Advancements in technology - As haptic technology continues to evolve and improve, it is likely that new and innovative use cases will emerge, providing even more opportunities for growth.

Key Challenges:

  1. Cost - Haptic technology can be expensive, particularly when it comes to integrating it into products and applications. In order to reach a wider audience, the industry will need to find ways to reduce costs while maintaining quality.

  2. Standards and interoperability - There is currently a lack of standards and interoperability in the haptic touch market, which can make it difficult for products and applications to work together seamlessly. Addressing this challenge will require collaboration and coordination across the industry.

  3. User experience - Haptic technology is only effective if it provides a positive user experience. Ensuring that haptic feedback is accurate, consistent, and engaging will be key to driving adoption and growth in the market.

Report Objectives

  • To describe and forecast the haptic technology market, in terms of value, by component, feedback type, and application
  • To describe and forecast the market, in terms of value, by region—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
  • To provide a detailed overview of the value chain pertaining to the haptic technology ecosystem, along with the average selling price trends
  • To strategically analyze the ecosystem, patent landscape, and various case studies pertaining to the haptic technology market.
  • To strategically analyze micromarkets with regard to individual growth trends, prospects, and contributions to the total market
  • To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for market leaders
  • To analyze strategic approaches such as product launches, contracts, agreements, and partnerships in the haptic technology market.

Available Customizations

MarketsandMarkets offers the following customizations for this market report:

  • Detailed analysis and profiling of additional market players
Report Code
SE 3384
Published ON
Jan, 2021
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