The global haptic technology market size was US$ 9.2 billion in 2021 and is projected to reach around US$ 23.8 billion by 2030, registering a CAGR of 11.14% from 2022 to 2030.
Haptic technology generates sensory experiences for three-dimensional communication through pressure, motion, or vibration. Many other electrical activities, such as improving control systems and constructing virtual objects, can be accomplished using this technique. Numerous industries, including the automobile industry, wearable technology, game controllers, smartphones, and virtual reality, make extensive use of haptic technology. By incorporating sound, motion, and light, the use of haptics technology in joysticks, video games, steering wheels, and controllers enhances the whole experience. In addition, it allows users to manipulate and feel virtual tools and sensations by fusing virtual haptics with the actual world.
Factors Affecting the Market Growth
Impact Analysis of COVID-19
The COVID-19 pandemic caused the haptic technology sector to grow slowly. Lockdowns and other movement restrictions imposed by the government have presented problems for the sector, including supply chain interruptions and the closure of distribution centers. As a result, sales of consumer electronics and other touchscreen devices have rapidly decreased, having an effect on market demand. Additionally, the change in consumer priorities toward buying necessities and the temporary global shutdown of the production, distribution, and service sectors will restrain market expansion.
Regional Overview
Asia Pacific is expected to witness tremendous growth during the coming years. This is a result of the region's proximity to important manufacturers and developing countries like China and India. For instance, the Indian Brand Equity Foundation projects that the Indian electronics market will grow at a rate of 41% by 2020 and surpass the milestone of US$ 400 billion.
Leading Competitors
Some of the prominent companies profiled in the global haptic technology market are:
Segmentation Outline
The global haptic technology market segmentation focuses on Component, Application, Feedback Type, and Region.
By Component
By Application
By Feedback Type
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL HAPTIC TECHNOLOGIES MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
4 GLOBAL HAPTIC TECHNOLOGIES MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE MODEL
4.4 VALUE CHAIN ANALYSIS
5 GLOBAL HAPTIC TECHNOLOGIES MARKET, BY COMPONENT
5.1 OVERVIEW
5.2 SOLUTION
5.2.1 ACTUATORS
5.2.2 DRIVERS AND CONTROLLERS
5.2.3 OTHERS
5.3 SOFTWARE
6 GLOBAL HAPTIC TECHNOLOGIES MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 CONSUMER ELECTRONICS
6.3 GAMING
6.4 HEALTHCARE
6.5 ROBOTICS
6.7 EDUCATION
6.8 RESEARCH
6.9 OTHERS
7 GLOBAL HAPTIC TECHNOLOGIES MARKET, BY FEEDBACK TYPE
7.1 OVERVIEW
7.2 TACTILE
7.3 FORCE
8 GLOBAL HAPTIC TECHNOLOGIES MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3. 1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL HAPTIC TECHNOLOGIES MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
10 COMPANY PROFILES
10.1 CITIZEN ELECTRONICS CO. LTD.
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.2 IMMERSION CORPORATION
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.3 CREE INC.
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.4 EVERLIGHT AMERICAS INC.
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.5 LG INNOTEK
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.6 MERCK KGAA
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.7 LUMILEDS HOLDING B.V.
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.8 NICHIA CORPORATION
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.9 OSRAM GMBH
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.10 SEOUL SEMICONDUCTOR CO. LTD.
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.11 STANLEY ELECTRIC CO.
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.12 TOYODA GOSEI CO. LTD.
10.12.1 OVERVIEW
10.12.2 FINANCIAL PERFORMANCE
10.12.3 PRODUCT OUTLOOK
10.12.4 KEY DEVELOPMENTS
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