The global haptic technology market size was US$ 2.7 billion in 2021. The global haptic technology market size is forecast to reach US$ 9.88 billion by 2030, growing at a compound annual growth rate (CAGR) of 16% during the forecast period from 2022 to 2030.
The term haptic technology, or kinesthetic communication, describes virtual and mixed reality solutions to provide multi-sensory experiences via sight, sound, and touch. Through the use of actuators, haptic drives, and microcontroller units, the technology uses physical feedback and pressure sensitivity to function. A haptic actuator is an electronic device that converts electric signals into vibrations the user can feel. Some of the applications of this technology include creating and controlling virtual objects, game consoles, surgical equipment, and wearable devices. Additionally, it improves the efficiency of remotely controlled machines and telerobots.
Factors Influencing Market Growth
Impact Analysis of COVID-19
The haptic technology industry experienced negative growth due to the COVID-19 pandemic. Government-enforced lockdowns and roadblocks have created various challenges for the industry, including disruptions in supply chains and shutdowns of distribution centers. It has caused a rapid decline in sales of consumer electronics and other touchscreen devices, affecting market demand. Further, shifting consumer attention toward purchasing essential commodities and the temporary shutdown of manufacturing, distribution, and service industries worldwide has restricted the global market growth.
Regional Insights
The Asia Pacific is forecast to grow at the fastest rate in the haptic technology market. The major factor driving the market growth is an increase in disposable income, which has increased the adoption of consumer electronics. There are many leading smartphones OEMs in China, and it is the world's largest end-user of consumer electronic devices, such as smartphones and tablets. It is also a major vehicle producer and marketer. There is a rising trend in the application of advanced technologies in vehicles, including infotainment systems and touchscreen applications such as dashboards, navigation systems, climate control panels, window controls. These technologies provide growth opportunities for the automotive segment. The increasing adoption of haptic technology in consumer devices is likely to drive market growth in the region.
Leading Competitors
The leading prominent companies profiled in the global haptic technology market are:
Scope of the Report
The global haptic technology market segmentation focuses on Component, Feedback Type, Application, and Region.
Segmentation based on Component
Segmentation based on Feedback Type
Segmentation based on Application
Segmentation based on Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL HAPTIC TECHNOLOGY 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 TECHNOLOGY 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 TECHNOLOGY MARKET, BY COMPONENT
5.1 OVERVIEW
5.2 HARDWARE
5.3 SOFTWARE
6 GLOBAL HAPTIC TECHNOLOGY MARKET, BY FEEDBACK TYPE
6.1 OVERVIEW
6.2 TACTILE
6.3 FORCE
7 GLOBAL HAPTIC TECHNOLOGY MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 CONSUMER DEVICES
7.3 AUTOMOTIVE & TRANSPORTATION
7.4 EDUCATION & RESEARCH
7.5 COMMERCIAL & INDUSTRIAL
7.6 HEALTHCARE
7.7 OTHERS
8 GLOBAL HAPTIC TECHNOLOGY 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 TECHNOLOGY MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
10 COMPANY PROFILES
10.1 TEXAS INSTRUMENTS
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.2 JOHNSON ELECTRIC
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.3 AAC TECHNOLOGIES
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.4 TDK CORPORATION
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.5 MICROCHIP TECHNOLOGY
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
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