Haptic Technology Market Size was estimated at USD 9.3 billion in 2021. The haptic technology industry is projected to grow from USD 10.5 billion in 2022 to USD 26.3 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 13.9% during the forecast period (2022 - 2030).
One of the main factors boosting the market is the significant expansion of the consumer electronics industry and the rising use of haptic technology solutions for better device scalability. The haptic technology market is expanding due to the expanding use of 3D touchscreen displays in automotive and medical devices. Additionally, the industry is expanding due to the growing use of haptic technology in gaming applications.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
One of the key elements driving the demand for haptic technology is the rising use of consumer electronics devices like smartphones, tablets, and other wearable technology. With 6.92 billion smartphone users worldwide as of 2023, this means that 86.41% of the world's population will be smartphone owners. Haptics is almost universally included in smartphones and tablets, and the trend is moving toward their incorporation into smartwatches and wristbands. With speedier controls, longer battery life, and user-friendly interactions, haptic feedback finds utility in wearable device technology, such as smartwatches, bracelets, and fitness trackers. These wearables' haptics enables informational communication and authentic experiences. The expanding consumer electronic industry is another factor driving the haptic technology market revenue.
Figure1: Estimated worldwide revenue of consumer electronics of various segments from 2014 to 2026
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The haptic technology market is upbeat due to several developments, including developing next-generation internet protocol (IP) systems that can adapt to 4G and wireless spectrums. The growing switch from analog to digital SDR is a significant growth-inducing element. SDR is anticipated to serve as the fundamental technology for the supply of telecommunications services like digital television, radio broadcasts, and video streaming channels. The market is anticipated to grow even further due to additional reasons, including the Internet of Things (IoT integration)'s with wireless technology and considerable R&D in the telecoms industry. A staggering 42.62 billion IoT devices, sensors, and actuators will be installed worldwide in 2022. Therefore, the trend of 4G and 5G plastic has enhanced the market CAGR in recent years.
The haptic technology market segmentation, based on components, includes actuators, drivers & controllers, and software. The software market for haptic technology is anticipated to expand at a faster CAGR during the forecast period in the haptic technology market revenue. The software layer must have performance-oriented functionality to produce high-quality haptic experiences. With haptic-enabled technology's rising use, the consumer electronics industry is anticipated to develop significantly throughout the projected period.
Figure 2: Haptic Technology Market, by Component, 2021 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The second fastest-growing segment in the haptic technology industry is the actuators. The need for haptic actuators in mobile terminals, wearable technology, and automotive applications is primarily responsible for the market's expansion. Additionally, the rising need for haptic actuators in home appliances is crucial in expanding this market.
The haptic technology market segmentation has been bifurcated by application into consumer electronics, automotive & transportation, gaming, education & research, healthcare, and engineering. During the forecast period, the haptic technology market for automotive and transportation applications is anticipated to develop at the greatest CAGR. This explains the ongoing need for high-performance electronic systems in high-end and hybrid electric cars. Additionally, haptic in-car infotainment systems and touchscreen GPS devices are becoming more widely used. Hence, rising applications of e-vehicles positively impact market growth.
The second fastest-growing segment in haptic technology data is the gaming industry. Gamers have a better real-life experience when haptic technology is integrated into gaming consoles and smartphone devices. Gaming controllers with haptic capabilities give video game events like crashes and explosions a tangible sense of reality, creating significant market growth prospects.
April 2020: Sony announced the release of their DualSense gaming controller with haptic feedback for the next PlayStation 5. DualSense includes adjustable triggers on the controller's L2 and R2 buttons, which give intense sensations and increased communication with other players. This creation has further broadened the growth opportunity for the haptic technology industry.
By Region, the study provides market insights into Europe, North America, Asia-Pacific, and the Rest of the World. North America's haptic technology market accounted for USD 3.9 billion in 2021 and is expected to exhibit a significant CAGR growth of 42.3 percent during the study period. North America is projected to become the dominant region in the haptic technology market due to the existence of a major market leader like Immersion Corporation in the United States. With the growing need for virtual reality in various applications, such as medical devices, autos, gaming, and others, the United States will dominate the North American haptic technology market. In the United States, there are 90.9 million AR users and 57.4 million VR users as of 2021.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3:HAPTIC TECHNOLOGY MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's haptic technology market accounts for the second-largest market share. Growing consumer spending on technologically advanced consumer electronics propels the European haptic technology market. Europe highly demands touchscreen technology, particularly for transportation, automobile, and consumer electronics applications. As a result, Europe is expected to drive significant growth in the haptic technology industry. The region's market expansion will be driven by the technology's cumulative use in computer-generated training applications. For example, in April 2020, FundamentalVR Limited, a medical training firm based in the United Kingdom, developed a HomeVR platform based on haptic technology for medical specialists' surgical training. Further, the German haptic technology market held the largest market share, and the UK haptic technology market was the fastest-growing market in the European region.
Asia Pacific's haptic technology market is predicted to have significant market growth. One of the primary driving factors for market expansion is rising disposable income, which has increased the use of consumer products. Many top smartphone OEMs are headquartered in China, including Huawei, Oppo, Vivo, Xiaomi, and OnePlus. China is also the largest end-user of consumer devices, such as smartphones and tablets. The number of smartphone users in China is expected to reach almost 1.04 billion by 2022. Moreover, China's haptic technology market held the largest market share, and the Indian haptic technology market was the fastest-growing market in the Asia-Pacific region.
The market will grow as major market players make large R&D investments to broaden their product portfolios. In addition to key market developments, including new product releases, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations, market participants engage in several strategic efforts to strengthen their positions. If the rivals in the haptic technology industry want to advance and be successful in a more competitive market, they must set fair rates for their products.
One of the primary business strategies used by the haptic technology industry to satisfy clients and grow the market sector is local production to reduce operational costs. The haptic technology industry has made some of the most important medical discoveries in recent years. Haptic technology market major players, including Synaptics Incorporated (US), SMK Corporation (Japan), Haption S.A. (France), and Immersion Corporation (US), are spending money on R&D initiatives to increase demand.
Ultraleap is the world's leading mid-air haptics and 3D hand-tracking company. The company's ground-breaking haptic technology (previously known as Ultrahaptics) employs ultrasound to create rich, three-dimensional shapes and textures that can be felt but not seen. The company leverages proprietary algorithms and supporting hardware to project ultrasound-driven tactile sensations without needing controllers or touchscreens. This enables users to interface with products and devices by gestures and receiving tactile feedback. For instance, in November 2020, Ultraleap announced a deal with IPlan Ideas Events and its subsidiary, IPlan Ideas Technology (IPI Tech), a subsidiary of the UAE-based Hawas Group, to provide Ultraleap's hand tracking and mid-air haptic technologies to clients in the UAE. IPI Tech will expose the technology to various industries, including kiosk manufacturers, retail, advertising and marketing, and theatres.
Immersion Company creates immersive and realistic experiences that use haptic technology to enhance digital interactions on mobile devices. Immersion technology has been used in various digital devices, including automotive, gaming, medical, and consumer electronics. The company's locations worldwide offer services/support, licensing options, and software to assist electronics firms in developing high-quality haptic experiences. For instance, in September 2020, Immersion inked a multi-year license renewal agreement with LG Electronics (South Korea) to continue using TouchSense software and haptic technology in mobile devices. LG is anticipated to continue using Immersion haptic software throughout its smartphone lineup.
Texas Instruments Incorporated (US)
Ultrahaptic (Ultraleap) (UK)
Haption S.A. (France)
ON Semiconductor Corporation (US)
Johnson Electric (Hong Kong)
SMK Corporation (Japan)
Microchip Technologies Incorporated (US)
Synaptics Incorporated (US)
Force Dimension (Switzerland)
February 2024: At Mobile World Congress (MWC), which begins today in Barcelona, Telefónica introduces Telefónica Edge Haptic Arena, a new gaming experience that uses the latest technologies to create an immersive experience from the operator's network.
In this demonstration, Telefónica combined immersive Extended Reality (XR), specifically haptic technology, and Virtual Reality, which allows touch-related sensations in the game; fiber, which provides low latency for extreme multi-user interaction; rendering or creation of images in Nvidia's cloud, executed in Edge Computing centers connected to the operator's network; and the 3D environment gene.
July 2023: For the purpose of commercializing its haptic touch and finger-sensing technologies for computers, Aito has raised an amount $6.5 million. Current investors Forward One, KBC Focus Fund, Innovation Industries, as well as private high net worth investors, provided the money. Following the successful implementation of its haptic touch solution with a large worldwide laptop manufacturer in 2022 & 2023, the Amsterdam startup will utilize the funding to approach additional clients and develop new laptop haptics applications. According to Aito, its patented technology enables producers of laptops & other consumer devices to develop fresh and interesting touch experiences for customers. It also offers the most precise finger detection and haptic touch currently available on the market.
June 2023: Titan Haptics has launched clustered array for serving non-standard designs. Engineers may integrate several haptic motors into a wide array using Titan's clustered array motor technique to precisely satisfy their application demands. These motors use a modular approach towards haptic technology design in a way that allows them to be appropriately scaled for a wide range of applications. In addition to providing assorted tools, firmware, & reference designs to assist engineers who wish to include haptics into their designs, Titan specializes in haptic motors that make use of its proprietary technology. Linear Magnetic Rams is a technique used by Titan's haptic motors.
January 2022: Synaptics Incorporated (Nasdaq: SYNA) announced today the availability of its S9A0H ASIC TouchPadTM solution, an integrated hardware/software platform that supports the industry's highest level of firmware security. It also offers scalability to accommodate the growing demand for larger, smarter, and more responsive haptic-enabled touchpads to boost productivity. The S9A0H is a Microsoft Windows and Google Chromebook-compatible solution that is the first to support NIST SP800-193 compliance and 384-bit firmware encryption.
February 2021: Faurecia, one of the world's leading automotive technology companies, and Immersion Corporation (NASDAQ: IMMR), the leading developer and provider of haptic technologies and solutions, announced today a multi-year license agreement that will give Faurecia access to Immersion's haptic technologies and solutions. The cooperation allows Faurecia to create innovative, interactive haptic user interfaces using Immersion's latest advancements.
Actuators
Drivers & Controllers
Software
Consumer Electronics
Automotive & Transportation
Gaming
Education & Research
Healthcare
Engineering
North America
Europe
| Report Attribute/Metric | Details |
| Market Size 2021 | USD 9.3 billion |
| Market Size 2022 | USD 10.5 billion |
| Market Size 2030 | USD 26.3 billion |
| Compound Annual Growth Rate (CAGR) | 13.9% (2022-2030) |
| Base Year | 2021 |
| Market Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component and Application |
| Geographies Covered | Europe, North America, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Synaptics Incorporated (US), SMK Corporation (Japan), Haption S.A. (France), and Immersion Corporation (US). |
| Key Market Opportunities | Products with holographic displays are in high demand |
| Key Market Dynamics | The growing importance of haptics in augmented and virtual reality Growing usage of haptics in the healthcare sector |
Frequently Asked Questions (FAQ) :
The size of the market for haptic technology size was estimated at USD 9.3 billion in 2021.
The market is expected to expand at a CAGR of 13.9% during the forecast period 2022-2030.
The largest portion of the market was in North America.
The key players in the market are Synaptics Incorporated (US), SMK Corporation (Japan), Haption S.A. (France), and Immersion Corporation (US).
In 2021, the market was led by the software category.
The automobile & transportation sector had the largest share of the market.
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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