Haptic Technology Market Share, Opportunities, Industry 2030

Segments - Haptic Technology Market by Technologies (Surface Acoustic Wave, Resistive, Optical Imaging, and Capacitive), Applications (POS & Kiosks, Consumer Electronics, Healthcare, Gaming, Automotive, Industrial, and Defense), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

The global haptic technology market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the increasing integration of the technology in consumer electronics, such as tablets and smartphones.

Haptic technology delivers an enhanced multi modal experience to the user by engaging touch, sound, and sight by various mechanism. The technology is used to engage more of the user’s senses to provide more immersive and deeper experience. One of the mechanism used in haptic technology is using touch as a feedback system to communicate information to and from the user. Haptic technology creates haptic feedback through the application of motion, vibration, and force. It offers benefits in cars, IoT devices, smartphones, gaming, robotics, and Augmented Reality and Virtual Reality enabled devices.

The COVID-19 pandemic outbreak had negative impact on the market. During the pandemic, emergency lockdown imposed by government bodies across many regions resulted in supply chain disruption of hardware and labor shortage in automobile and consumer electronics industry. The market is expected to recover soon as emergency lockdown is lifted by the government gradually and manufacturing plants are resuming their operation with limited workforce.

Market Trends, Drivers, Restraints, and Opportunities

Increasing demand for touchscreen in consumer electronics is one of the key factors driving the market growth.
Rising use of haptics in gaming consoles for immersive experience is projected to boost the market during the forecast period.
Growing concern about high power consumption of devices using haptic technology acts as a major challenge that can restrict the market growth in the coming years.
High cost and lack of awareness associated with the technology is expected to hamper the market growth during the projected timeline.
Escalating use of haptics in home appliances and education sector is anticipated to create significant growth opportunities for the market.

Scope of Haptic Technology Market Report

The report on the global haptic technology market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Haptic Technology Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Technologies (Surface Acoustic Wave, Resistive, Optical Imaging, and Capacitive) and Applications (POS & Kiosks, Consumer Electronics, Healthcare, Gaming, Automotive, Industrial, and Defense)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Texas Instruments, Inc.; 3D systems Corp.; AAC Technologies Holdings, Inc.; Haption SA; Maxim Integrated Products, Inc.; Precision Microdrives Ltd.; Immersion Corp.; Densitron Technologies Plc; Johnson Electric Group; Tactus Technology Inc.; and Microchip Technology, Inc.

Haptic Technology Market Segment Insights

Multi-touch functionality drives the capacitive segment

Based on technologies, the global haptic technology market is segmented into surface acoustic wave, resistive, optical imaging, and capacitive. The capacitive segment is estimated to expand at robust growth rate during the forecast period due to the benefits it offers, such as less touch pressure, multi-touch functionality, and extreme durability. However, resistive segment is anticipated to expand at a substantial CAGR during the forecast period owing to the minimal production cost and flexibility in terms of touch capabilities.

Automotive segment to register a high CAGR

On the basis of applications, the market is segregated into POS & kiosks, consumer electronics, healthcare, gaming, automotive, industrial, and defense. The automotive segment is projected to register at high CAGR in the projected timeline attributed to the rising demand for high-performance electronic systems in hybrid electric vehicles and other high-end automobiles. Furthermore, surging adoption of haptics for touchscreens in GPS and car infotainment systems is major driver of the segment.

On the other hand, the healthcare segment is anticipated to register a substantial CAGR during the forecast period due to the increasing use of haptic technology in the medical sector by training doctors in various surgical procedures.

Asia Pacific to constitute a key market share

In terms of region, the global haptic technology market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute a key share of the market during the projected period owing to increase in adoption of consumer devices in the region and rise is use of advanced technologies in vehicles, such as infotainment systems and touch screen enabled dashboards, window controls, and navigation systems.

However, the market of North America is anticipated to grow at a rapid pace during the forecast period due to the increasing demand of haptic technology from end-users, such as automobile, healthcare, and defense.

Segments

The global haptic technology market has been segmented on the basis of

Technologies

Surface Acoustic Wave
Resistive
Optical Imaging
Capacitive

Applications

POS & Kiosks
Consumer Electronics
Healthcare
Gaming
Automotive
Industrial
Defense

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Texas Instruments, Inc.
3D systems Corp.
AAC Technologies Holdings, Inc.
Haption SA
Maxim Integrated Products, Inc.
Precision Microdrives Ltd.
Immersion Corp.
Densitron Technologies Plc
Johnson Electric Group
Tactus Technology Inc.
Microchip Technology, Inc.

Competitive Landscape

Key players competing in the global haptic technology market are Texas Instruments, Inc.; 3D systems Corp.; AAC Technologies Holdings, Inc.; Haption SA; Maxim Integrated Products, Inc.; Precision Microdrives Ltd.; Immersion Corp.; Densitron Technologies Plc; Johnson Electric Group; Tactus Technology Inc.; and Microchip Technology,Inc. Companies are investing for integration of haptic technology into their products to maintain their competitive positions in the market. Companies have been widely engaged in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers.

For instance, In July 2019, Microchip Technology inaugurated their new R&D center in Chennai, India. The R&D center is aimed at the development of the native ecosystem for design of specialized embedded systems and integrated circuit. Additionally, the R&D center is aiming to employ around 1,200 employees. In September 2020, LG Electronics signed a multi-year license renewal with Immersion Corp. for continued use of haptic technologies and TouchSense software in its smartphones. LG is anticipated to continue the use of Immersion haptic software in its entire range of mobile devices.

Haptic Technology Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Haptic Technology Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Haptic Technology Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Haptic Technology Market - Supply Chain
  4.5. Global Haptic Technology Market Forecast
     4.5.1. Haptic Technology Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Haptic Technology Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Haptic Technology Market Absolute $ Opportunity
5. Global Haptic Technology Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Haptic Technology Market Size and Volume Forecast by Applications
     5.3.1. POS & Kiosks Consumer Electronics Healthcare Gaming Automotive Industrial
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Haptic Technology Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Haptic Technology Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Haptic Technology Demand Share Forecast, 2019-2026
7. North America Haptic Technology Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Haptic Technology Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Haptic Technology Market Size and Volume Forecast by Applications
     7.4.1. POS & Kiosks Consumer Electronics Healthcare Gaming Automotive Industrial
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Haptic Technology Demand Share Forecast, 2019-2026
8. Latin America Haptic Technology Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Haptic Technology Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Haptic Technology Market Size and Volume Forecast by Applications
     8.4.1. POS & Kiosks Consumer Electronics Healthcare Gaming Automotive Industrial
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Haptic Technology Demand Share Forecast, 2019-2026
9. Europe Haptic Technology Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Haptic Technology Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Haptic Technology Market Size and Volume Forecast by Applications
     9.4.1. POS & Kiosks Consumer Electronics Healthcare Gaming Automotive Industrial
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Haptic Technology Demand Share Forecast, 2019-2026
10. Asia Pacific Haptic Technology Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Haptic Technology Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Haptic Technology Market Size and Volume Forecast by Applications
     10.4.1. POS & Kiosks Consumer Electronics Healthcare Gaming Automotive Industrial
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Haptic Technology Demand Share Forecast, 2019-2026
11. Middle East & Africa Haptic Technology Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Haptic Technology Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Haptic Technology Market Size and Volume Forecast by Applications
     11.4.1. POS & Kiosks Consumer Electronics Healthcare Gaming Automotive Industrial
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Haptic Technology Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Haptic Technology Market: Market Share Analysis
  12.2. Haptic Technology Distributors and Customers
  12.3. Haptic Technology Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Texas Instruments, Inc. 3D systems Corp. AAC Technologies Holdings, Inc. Haption SA Maxim Integrated Products, Inc. Precision Microdrives Ltd.