According to the latest report by IMARC Group, titled “Haptic Technology Market Size: Global Industry Trends, Share, Demand, Growth, Opportunity and Forecast 2020-2025,” the global haptic technology market grew at a CAGR of around 12% during 2014-2019. Haptic technology refers to the virtual and mixed reality solutions that engage sight, sound, and touch to provide multi-modal experience to users. It acts as an interface between the user and connected devices, such as tablets and smartphones, by using sensors to measure the physical feedback and pressure sensitivity. It is widely used in joysticks, controllers and steering wheels for enhancing the overall user experience in video games. Apart from this, it is also used for controlling surgical equipment and wearable devices and improving the efficiency of remote-controlled machines and telerobots.
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Global Haptic Technology Market Trends:
The market is primarily driven by the increasing uptake of consumer electronic devices across the globe, along with the escalating sales of touch-enabled home appliances. Haptic technology is widely utilized in most of these electronics due to its ability to provide tactile feedback to users. Its use also offers enhanced sound, touch and visual effects that result in improved operational efficiencies. Apart from this, this technology is also extensively adopted for numerous gaming applications and augmented reality (AR)-enabled devices. Several hardware devices, including joystick and controllers, are equipped with haptics to enable convenient manipulation of virtual avatars when integrated with virtual reality (VR). This, along with the rising need for immersive gaming experiences and the increasing penetration of high-speed internet on the global level, is providing an impetus to the market growth. Furthermore, these solutions are now extensively integrated with 3D-touchscreen displays in medical electronics and automobiles. There has also been an increase in the adoption of haptics in robotics and certain devices designed for visually-impaired individuals, which, in turn, is acting as another major growth inducing factor. The widespread utilization of the internet of things (IoT) across industries and the growing integration of adaptive triggers with haptics are some of the other factors driving the market further. On account of the aforementioned factors, the market is anticipated to witness strong growth during 2020-2025.
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Breakup by Component:
- Drivers and Controllers
Breakup by Feedback:
Breakup by Technology:
Breakup by Application:
- Automotive and Transportation
- Consumer Electronics
- Education and Research
Breakup by Region:
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being 3d Systems Corporation, Haption, Immersion Corporation, Johnson Electric Holdings Limited, Microchip Technology Inc., ON Semiconductor Corporation, Precision Microdrives Ltd., Senseg Oy (O-film Global HK Trading Limited), SMK Corporation, Synaptics Incorporated, Tactus Technology Inc., Texas Instruments Incorporated and Ultrahaptics.
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