Haptic Technology Market Size, Share, Growth Analysis, By component(Hardware, Software), By Application(Consumer Devices, Automotive & Transportation, Education & Research, Healthcare), By Feedback Type(Tactile, Force), By Region(North America, Europe, Asia Pacific, Rest of the World (RoW)) - Industry Forecast 2025-2032

Report ID: UCMIG35J2139 | Region: Global | Published Date: Upcoming |
Pages: 165 |Tables: 0 |Figures: 0

Haptic Technology Market Insights

Market Overview:

The market for haptic technology is anticipated to be worth USD 3.9 billion in 2022 and to grow at a CAGR of 3.7% to reach USD 5.0 billion by 2028. The market for haptic technology is projected to be driven by the growing use of haptics in gaming consoles. Increasing haptic technology application in the robotics and medical industries is another important driver

Haptic Technology Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.

Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.

The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Life Sciences Tools & Services by segment aggregation, the contribution of the Life Sciences Tools & Services in Pharmaceuticals, Biotechnology & Life Sciences and vendor share.

To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.

Segmentation Analysis:

The Haptic Technology Market is segmented by component, Application, Feedback Type, Region. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.

Haptic Technology Market Basis Point Share Analysis, 2021 Vs. 2028
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  • Based on component the market is segmented as, Hardware, Software
  • Based on Application the market is segmented as, Consumer Devices, Automotive & Transportation, Education & Research, Healthcare, Commercial & Industrial, Others
  • Based on Feedback Type the market is segmented as, Tactile, Force
  • Based on Region the market is segmented as, North America, Europe, Asia Pacific, Rest of the World (RoW), Key Market Players, Texas Instruments Incorporated, Johnson Electric Holdings Limited, AAC Technologies, TDK Corporation, Microchip Technology Inc.

Regional Analysis:

Haptic Technology Market is being analyzed by North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) regions. Key countries including the U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, and South Africa among others were analyzed considering various micro and macro trends.

Haptic Technology Market Attractiveness Analysis, By Region 2020-2028
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Haptic Technology Market : Risk Analysis

SkyQuest's expert analysts have conducted a risk analysis to understand the impact of external extremities on Haptic Technology Market. We analyzed how geopolitical influence, natural disasters, climate change, legal scenario, economic impact, trade & economic policies, social & ethnic concerns, and demographic changes might affect Haptic Technology Market's supply chain, distribution, and total revenue growth.

Competitive landscaping:

To understand the competitive landscape, we are analyzing key Haptic Technology Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Haptic Technology Market.

To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.

Key Players Covered in the Report:

  • technology market is estimated to be worth USD 3.9 billion in 2022 and is projected to reach USD 5.0 billion by 2028, at a CAGR of 3.7% during the forecast period.
  • Rising integration of haptic technology into consumer devices, growing use of haptic technology in automotive industry, and increasing use of haptics in the healthcare industry are some of the major factors contributing to the haptic technology industry growth.
  • Haptic Technology Market Dynamics
  • Driver: Rising integration of haptic technology into consumer devices
  • Haptics is widely used in consumer devices to enhance the sensation, performance, and overall contribution of achieving touchscreen accuracy. The growing use of consumer devices such as wearables, smartphones, tablets, smart homes, and virtual reality hardware is a major factor contributing to the market’s growth. As most consumer devices are touch-enabled appliances integrated with haptics, the demand for haptic-based solutions is expected to increase significantly in the next five years. Haptic technology generates efficient and effective controls in a user-friendly format. Moreover, the increasing adoption of haptic technology in the gaming industry is expected to significantly contribute to market growth. For instance, Sony’s PlayStation 5 uses haptic effects in its gaming controllers to minimize the gap between human and digital interaction. Similarly, haptic technology is used in smartphones to stimulate a sense of touch through force, vibration, and motion for the end user. It delivers sensation through touch UI as it enhances the experience of conveying information from the digital to human and human to the digital world. The constantly growing use of smartphones is also a major factor contributing to the market growth.
  • Restraint: High cost of force feedback technology
  • Haptics that use tactile interfaces are majorly integrated into consumer devices and are not higher in cost than force feedback haptic devices. The major setback for the haptic technology market is the high cost of its force feedback devices used in the medical, automotive, aerospace, and manufacturing industries and supports assistive learning. Force feedback haptics requires efficient and effective devices with suitable features for running the haptic technology. They are categorized based on degrees of freedom (DoF) into 3DoF, 6DoF, and 7DoF. They allow the users to sense real-time virtual haptics while using them in various applications. The reason behind the high cost of force feedback technology is the development costs, material costs, and patent and licensing costs. Along with that, as the demand for force feedback haptic devices is still emerging, manufacturers cannot benefit from the economies of scale. For example, haptic gloves are sensor-based, which detects hand movements and stimulates force feedback to the users’ fingers. They are used in virtual reality and gaming applications to generate the touch sense and manipulate the objects of the digital world. However, they are quite expensive to purchase.
  • Opportunity: Rising applications of haptic technology in aerospace & defense industry
  • The adoption of mid-air haptics has increased in several industries, such as aerospace & defense. It is planned to be used in simulated pilot training or virtual reality flight decks to overcome the high cost and inefficiency that most airlines face. Mid-air haptic feedback technology will allow pilots to focus on other operations like monitoring the cockpit displays and other attention-grabbing monitors, even if it means drawing away the pilot’s attention from the view out of the window. Besides, haptics also has the potential to improve the safety of the environment, quality of pilot training, and flight experience for the pilot and the passengers. Haptic feedback can also detect situations based on immersion and intuition, allowing the pilot to understand the aircraft’s behavior and performance and implement effective and efficient decisions accordingly. Similarly, haptic technology can save time and money in the defense industry. It also enhances situational awareness, which can benefit the defense industry majorly. For instance, haptic feedback can alert the soldiers about the nearby or approaching threat, which will help them make logical decisions to protect themselves. Haptic technology using a tactile interface can also improve the accuracy and control of the weapon.
  • Challenge: High power consumption in haptic feedback
  • One of the major challenges the market players face is the high-power consumption of haptic feedback. The haptic mechanism in phones drains the battery, keeping users from gaining tactile feedback benefits. All battery power is required to run the motor, which triggers haptic feedback leading to high power consumption. This is expected to hinder the growth of haptic technology providers. Eccentric Rotating Mass (ERM) consumes a higher energy rate than Linear Resonant Actuator (LRA). Therefore, LRA provides a better battery life to the applications. Along with that Piezo actuator generates a quick response time, which creates short effects. Therefore, this short duration contributes towards energy savings. Designing solutions that focus on haptic drivers’ implementation will regenerate and boost converter-based implementation that reduces the rate of power dissipation and maximize the battery life of the haptic-enabled portable devices.
  • Haptic Technology Market Ecosystem
  • The prominent players in the haptic technology market are Texas Instruments Incorporated (US), Johnson Electric Holdings Limited (China), AAC Technologies (China), TDK Corporation (Japan), and Microchip Technology Inc. (US). These companies not only boast a comprehensive product portfolio but also have a strong geographic footprint.
  • Software to register highest CAGR during forecast period
  • The haptics software enables users to interact with devices. It has been developed to perform specific programmed tasks on various devices. The software layer is part of the haptic system that is responsible for ensuring multimodal consistency, decoding effects, and timing/scheduling effect playback. The part of the haptic stack manages the haptic experience in real time. The software layer must create command signals for the driver IC to convert into electrical signals to control the actuator. To produce high-quality haptic experiences, it is critical that the software layer has performance-oriented functionality. With technological advancements in consumer devices and the increased adoption of haptic-enabled devices, the software market is expected to grow significantly from 2023 to 2028.
  • Consumer devices accounted for the largest share of haptic technology market in 2022
  • The consumer devices application of haptic technology includes various devices in which haptic effects are embedded, such as smartphones, tablets, gaming devices, smartwatches, cameras, media players, handheld devices, and haptics-enabled touch-based phones. Consumer electronics with haptics provide easier, intuitive access to music, multimedia, and photography. Almost all smartphones today are equipped with haptic devices. Smartphone companies are using advanced haptic components from leading players to integrate into their smartphones. The growing adoption of devices such as smartphones is expected to create opportunities for market players offering haptic technology hardware and software.
  • Asia Pacific to dominate the haptic technology market from 2023 to 2028
  • The haptic technology market in Asia Pacific held the largest market share in 2022 and is projected to grow at the highest CAGR from 2023 to 2028. The global market players are experiencing increased demand for haptic solutions from countries such as China, Japan, and South Korea. Increasing demand for consumer electronic devices such as smartphones, tablets, and wearables in China, Japan, South Korea, and India is expected to drive the growth of the haptic technology market in the region. Moreover, constantly increasing vehicle production in countries such as China and India and presence of established consumer devices OEMs are also expected fuel the market growth in Asia Pacific.
  • Recent Developments
  • In January 2023, TDK Corporation announced the TDK i3 Micro Module, which has a built-in edge AI and wireless mesh connectivity capability. Through TDK’s collaboration with Texas Instruments (TI), the i3 Micro Module integrates the TI SimpleLink platform, featuring the CC2652R7, an Arm Cortex-M4F multiprotocol 2.4-GHz wireless 32-bit microcontroller (MCU) for real-time monitoring.
  • In November 2022, Texas Instruments Incorporated announced the development of new Matter-enabled software development kits for Wi-Fi and Thread SimpleLink wireless microcontrollers (MCUs), CC3235SF and CC2652R7, which will streamline the adoption of the Matter protocol in the Internet of Things (IoT) applications.
  • In June 2022, Microchip Technology Inc. launched maXTouch Knob-on-Display (KoD), an automotive-grade touchscreen controller that facilitates the detection and reporting of capacitive rotary encoders and mechanical switches on a touch panel.
  • In October 2021, AAC Technologies announced its joint venture with OnePlus for OnePlus 9RT, SLS ultra-linear speaker with an NLC low-frequency algorithm and X-axis linear motor with RichTap tactile feedback.
  • In September 2020, Johnson Electric Holdings Limited announced the launch of a new addition to the professional line of hair dryer motor solutions. The ECI-050 brushless motor for hair dryers is a single-phase solution that offers better performance while being cost-effective.
  • KEY MARKET SEGMENTS
  • By component
  • Hardware
  • Software
  • By Application
  • Consumer Devices
  • Automotive & Transportation
  • Education & Research
  • Healthcare
  • Commercial & Industrial
  • Others
  • By Feedback Type
  • Tactile
  • Force
  • By Region
  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW)
  • Key Market Players
  • Texas Instruments Incorporated
  • Johnson Electric Holdings Limited
  • AAC Technologies
  • TDK Corporation
  • Microchip Technology Inc.

SkyQuest's Expertise:

The Haptic Technology Market is being analyzed by SkyQuest's analysts with the help of 20+ scheduled Primary interviews from both the demand and supply sides. We have already invested more than 250 hours on this report and are still refining our date to provide authenticated data to your readers and clients. Exhaustive primary and secondary research is conducted to collect information on the market, peer market, and parent market.

Our cross-industry experts and revenue-impact consultants at SkyQuest enable our clients to convert market intelligence into actionable, quantifiable results through personalized engagement.

Scope Of Report

Report Attribute Details
The base year for estimation 2021
Historical data 2016 – 2022
Forecast period 2022 – 2028
Report coverage Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis
Segments covered
  • By component - Hardware, Software
  • By Application - Consumer Devices, Automotive & Transportation, Education & Research, Healthcare, Commercial & Industrial, Others
  • By Feedback Type - Tactile, Force
  • By Region - North America, Europe, Asia Pacific, Rest of the World (RoW), Key Market Players, Texas Instruments Incorporated, Johnson Electric Holdings Limited, AAC Technologies, TDK Corporation, Microchip Technology Inc.
Regional scope North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
Country scope U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, South Africa
Key companies profiled
  • technology market is estimated to be worth USD 3.9 billion in 2022 and is projected to reach USD 5.0 billion by 2028, at a CAGR of 3.7% during the forecast period.
  • Rising integration of haptic technology into consumer devices, growing use of haptic technology in automotive industry, and increasing use of haptics in the healthcare industry are some of the major factors contributing to the haptic technology industry growth.
  • Haptic Technology Market Dynamics
  • Driver: Rising integration of haptic technology into consumer devices
  • Haptics is widely used in consumer devices to enhance the sensation, performance, and overall contribution of achieving touchscreen accuracy. The growing use of consumer devices such as wearables, smartphones, tablets, smart homes, and virtual reality hardware is a major factor contributing to the market’s growth. As most consumer devices are touch-enabled appliances integrated with haptics, the demand for haptic-based solutions is expected to increase significantly in the next five years. Haptic technology generates efficient and effective controls in a user-friendly format. Moreover, the increasing adoption of haptic technology in the gaming industry is expected to significantly contribute to market growth. For instance, Sony’s PlayStation 5 uses haptic effects in its gaming controllers to minimize the gap between human and digital interaction. Similarly, haptic technology is used in smartphones to stimulate a sense of touch through force, vibration, and motion for the end user. It delivers sensation through touch UI as it enhances the experience of conveying information from the digital to human and human to the digital world. The constantly growing use of smartphones is also a major factor contributing to the market growth.
  • Restraint: High cost of force feedback technology
  • Haptics that use tactile interfaces are majorly integrated into consumer devices and are not higher in cost than force feedback haptic devices. The major setback for the haptic technology market is the high cost of its force feedback devices used in the medical, automotive, aerospace, and manufacturing industries and supports assistive learning. Force feedback haptics requires efficient and effective devices with suitable features for running the haptic technology. They are categorized based on degrees of freedom (DoF) into 3DoF, 6DoF, and 7DoF. They allow the users to sense real-time virtual haptics while using them in various applications. The reason behind the high cost of force feedback technology is the development costs, material costs, and patent and licensing costs. Along with that, as the demand for force feedback haptic devices is still emerging, manufacturers cannot benefit from the economies of scale. For example, haptic gloves are sensor-based, which detects hand movements and stimulates force feedback to the users’ fingers. They are used in virtual reality and gaming applications to generate the touch sense and manipulate the objects of the digital world. However, they are quite expensive to purchase.
  • Opportunity: Rising applications of haptic technology in aerospace & defense industry
  • The adoption of mid-air haptics has increased in several industries, such as aerospace & defense. It is planned to be used in simulated pilot training or virtual reality flight decks to overcome the high cost and inefficiency that most airlines face. Mid-air haptic feedback technology will allow pilots to focus on other operations like monitoring the cockpit displays and other attention-grabbing monitors, even if it means drawing away the pilot’s attention from the view out of the window. Besides, haptics also has the potential to improve the safety of the environment, quality of pilot training, and flight experience for the pilot and the passengers. Haptic feedback can also detect situations based on immersion and intuition, allowing the pilot to understand the aircraft’s behavior and performance and implement effective and efficient decisions accordingly. Similarly, haptic technology can save time and money in the defense industry. It also enhances situational awareness, which can benefit the defense industry majorly. For instance, haptic feedback can alert the soldiers about the nearby or approaching threat, which will help them make logical decisions to protect themselves. Haptic technology using a tactile interface can also improve the accuracy and control of the weapon.
  • Challenge: High power consumption in haptic feedback
  • One of the major challenges the market players face is the high-power consumption of haptic feedback. The haptic mechanism in phones drains the battery, keeping users from gaining tactile feedback benefits. All battery power is required to run the motor, which triggers haptic feedback leading to high power consumption. This is expected to hinder the growth of haptic technology providers. Eccentric Rotating Mass (ERM) consumes a higher energy rate than Linear Resonant Actuator (LRA). Therefore, LRA provides a better battery life to the applications. Along with that Piezo actuator generates a quick response time, which creates short effects. Therefore, this short duration contributes towards energy savings. Designing solutions that focus on haptic drivers’ implementation will regenerate and boost converter-based implementation that reduces the rate of power dissipation and maximize the battery life of the haptic-enabled portable devices.
  • Haptic Technology Market Ecosystem
  • The prominent players in the haptic technology market are Texas Instruments Incorporated (US), Johnson Electric Holdings Limited (China), AAC Technologies (China), TDK Corporation (Japan), and Microchip Technology Inc. (US). These companies not only boast a comprehensive product portfolio but also have a strong geographic footprint.
  • Software to register highest CAGR during forecast period
  • The haptics software enables users to interact with devices. It has been developed to perform specific programmed tasks on various devices. The software layer is part of the haptic system that is responsible for ensuring multimodal consistency, decoding effects, and timing/scheduling effect playback. The part of the haptic stack manages the haptic experience in real time. The software layer must create command signals for the driver IC to convert into electrical signals to control the actuator. To produce high-quality haptic experiences, it is critical that the software layer has performance-oriented functionality. With technological advancements in consumer devices and the increased adoption of haptic-enabled devices, the software market is expected to grow significantly from 2023 to 2028.
  • Consumer devices accounted for the largest share of haptic technology market in 2022
  • The consumer devices application of haptic technology includes various devices in which haptic effects are embedded, such as smartphones, tablets, gaming devices, smartwatches, cameras, media players, handheld devices, and haptics-enabled touch-based phones. Consumer electronics with haptics provide easier, intuitive access to music, multimedia, and photography. Almost all smartphones today are equipped with haptic devices. Smartphone companies are using advanced haptic components from leading players to integrate into their smartphones. The growing adoption of devices such as smartphones is expected to create opportunities for market players offering haptic technology hardware and software.
  • Asia Pacific to dominate the haptic technology market from 2023 to 2028
  • The haptic technology market in Asia Pacific held the largest market share in 2022 and is projected to grow at the highest CAGR from 2023 to 2028. The global market players are experiencing increased demand for haptic solutions from countries such as China, Japan, and South Korea. Increasing demand for consumer electronic devices such as smartphones, tablets, and wearables in China, Japan, South Korea, and India is expected to drive the growth of the haptic technology market in the region. Moreover, constantly increasing vehicle production in countries such as China and India and presence of established consumer devices OEMs are also expected fuel the market growth in Asia Pacific.
  • Recent Developments
  • In January 2023, TDK Corporation announced the TDK i3 Micro Module, which has a built-in edge AI and wireless mesh connectivity capability. Through TDK’s collaboration with Texas Instruments (TI), the i3 Micro Module integrates the TI SimpleLink platform, featuring the CC2652R7, an Arm Cortex-M4F multiprotocol 2.4-GHz wireless 32-bit microcontroller (MCU) for real-time monitoring.
  • In November 2022, Texas Instruments Incorporated announced the development of new Matter-enabled software development kits for Wi-Fi and Thread SimpleLink wireless microcontrollers (MCUs), CC3235SF and CC2652R7, which will streamline the adoption of the Matter protocol in the Internet of Things (IoT) applications.
  • In June 2022, Microchip Technology Inc. launched maXTouch Knob-on-Display (KoD), an automotive-grade touchscreen controller that facilitates the detection and reporting of capacitive rotary encoders and mechanical switches on a touch panel.
  • In October 2021, AAC Technologies announced its joint venture with OnePlus for OnePlus 9RT, SLS ultra-linear speaker with an NLC low-frequency algorithm and X-axis linear motor with RichTap tactile feedback.
  • In September 2020, Johnson Electric Holdings Limited announced the launch of a new addition to the professional line of hair dryer motor solutions. The ECI-050 brushless motor for hair dryers is a single-phase solution that offers better performance while being cost-effective.
  • KEY MARKET SEGMENTS
  • By component
  • Hardware
  • Software
  • By Application
  • Consumer Devices
  • Automotive & Transportation
  • Education & Research
  • Healthcare
  • Commercial & Industrial
  • Others
  • By Feedback Type
  • Tactile
  • Force
  • By Region
  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW)
  • Key Market Players
  • Texas Instruments Incorporated
  • Johnson Electric Holdings Limited
  • AAC Technologies
  • TDK Corporation
  • Microchip Technology Inc.
Customization scope Free report customization (15% Free customization) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options Reap the benefits of customized purchase options to fit your specific research requirements.

Objectives of the Study

  • To forecast the market size, in terms of value, for various segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
  • To provide detailed information regarding the major factors influencing the growth of the Market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze the micro markets with respect to the individual growth trends, future prospects, and contribution to the total market
  • To provide a detailed overview of the value chain and analyze market trends with the Porter's five forces analysis
  • To analyze the opportunities in the market for various stakeholders by identifying the high-growth Segments
  • To identify the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
  • To analyze competitive development such as joint ventures, mergers and acquisitions, new product launches and development, and research and development in the market

What does this Report Deliver?

  • Market Estimation for 20+ Countries
  • Historical data coverage: 2016 to 2022
  • Growth projections: 2022 to 2028
  • SkyQuest's premium market insights: Innovation matrix, IP analysis, Production Analysis, Value chain analysis, Technological trends, and Trade analysis
  • Customization on Segments, Regions, and Company Profiles
  • 100+ tables, 150+ Figures, 10+ matrix
  • Global and Country Market Trends
  • Comprehensive Mapping of Industry Parameters
  • Attractive Investment Proposition
  • Competitive Strategies Adopted by Leading Market Participants
  • Market drivers, restraints, opportunities, and its impact on the market
  • Regulatory scenario, regional dynamics, and insights of leading countries in each region
  • Segment trends analysis, opportunity, and growth
  • Opportunity analysis by region and country
  • Porter's five force analysis to know the market's condition
  • Pricing analysis
  • Parent market analysis
  • Product portfolio benchmarking

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Haptic Technology Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Haptic Technology Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)
  • technology market is estimated to be worth USD 3.9 billion in 2022 and is projected to reach USD 5.0 billion by 2028, at a CAGR of 3.7% during the forecast period.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Rising integration of haptic technology into consumer devices, growing use of haptic technology in automotive industry, and increasing use of haptics in the healthcare industry are some of the major factors contributing to the haptic technology industry growth.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Haptic Technology Market Dynamics
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Driver: Rising integration of haptic technology into consumer devices
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Haptics is widely used in consumer devices to enhance the sensation, performance, and overall contribution of achieving touchscreen accuracy. The growing use of consumer devices such as wearables, smartphones, tablets, smart homes, and virtual reality hardware is a major factor contributing to the market’s growth. As most consumer devices are touch-enabled appliances integrated with haptics, the demand for haptic-based solutions is expected to increase significantly in the next five years. Haptic technology generates efficient and effective controls in a user-friendly format. Moreover, the increasing adoption of haptic technology in the gaming industry is expected to significantly contribute to market growth. For instance, Sony’s PlayStation 5 uses haptic effects in its gaming controllers to minimize the gap between human and digital interaction. Similarly, haptic technology is used in smartphones to stimulate a sense of touch through force, vibration, and motion for the end user. It delivers sensation through touch UI as it enhances the experience of conveying information from the digital to human and human to the digital world. The constantly growing use of smartphones is also a major factor contributing to the market growth.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Restraint: High cost of force feedback technology
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Haptics that use tactile interfaces are majorly integrated into consumer devices and are not higher in cost than force feedback haptic devices. The major setback for the haptic technology market is the high cost of its force feedback devices used in the medical, automotive, aerospace, and manufacturing industries and supports assistive learning. Force feedback haptics requires efficient and effective devices with suitable features for running the haptic technology. They are categorized based on degrees of freedom (DoF) into 3DoF, 6DoF, and 7DoF. They allow the users to sense real-time virtual haptics while using them in various applications. The reason behind the high cost of force feedback technology is the development costs, material costs, and patent and licensing costs. Along with that, as the demand for force feedback haptic devices is still emerging, manufacturers cannot benefit from the economies of scale. For example, haptic gloves are sensor-based, which detects hand movements and stimulates force feedback to the users’ fingers. They are used in virtual reality and gaming applications to generate the touch sense and manipulate the objects of the digital world. However, they are quite expensive to purchase.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Opportunity: Rising applications of haptic technology in aerospace & defense industry
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The adoption of mid-air haptics has increased in several industries, such as aerospace & defense. It is planned to be used in simulated pilot training or virtual reality flight decks to overcome the high cost and inefficiency that most airlines face. Mid-air haptic feedback technology will allow pilots to focus on other operations like monitoring the cockpit displays and other attention-grabbing monitors, even if it means drawing away the pilot’s attention from the view out of the window. Besides, haptics also has the potential to improve the safety of the environment, quality of pilot training, and flight experience for the pilot and the passengers. Haptic feedback can also detect situations based on immersion and intuition, allowing the pilot to understand the aircraft’s behavior and performance and implement effective and efficient decisions accordingly. Similarly, haptic technology can save time and money in the defense industry. It also enhances situational awareness, which can benefit the defense industry majorly. For instance, haptic feedback can alert the soldiers about the nearby or approaching threat, which will help them make logical decisions to protect themselves. Haptic technology using a tactile interface can also improve the accuracy and control of the weapon.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Challenge: High power consumption in haptic feedback
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • One of the major challenges the market players face is the high-power consumption of haptic feedback. The haptic mechanism in phones drains the battery, keeping users from gaining tactile feedback benefits. All battery power is required to run the motor, which triggers haptic feedback leading to high power consumption. This is expected to hinder the growth of haptic technology providers. Eccentric Rotating Mass (ERM) consumes a higher energy rate than Linear Resonant Actuator (LRA). Therefore, LRA provides a better battery life to the applications. Along with that Piezo actuator generates a quick response time, which creates short effects. Therefore, this short duration contributes towards energy savings. Designing solutions that focus on haptic drivers’ implementation will regenerate and boost converter-based implementation that reduces the rate of power dissipation and maximize the battery life of the haptic-enabled portable devices.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Haptic Technology Market Ecosystem
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The prominent players in the haptic technology market are Texas Instruments Incorporated (US), Johnson Electric Holdings Limited (China), AAC Technologies (China), TDK Corporation (Japan), and Microchip Technology Inc. (US). These companies not only boast a comprehensive product portfolio but also have a strong geographic footprint.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Software to register highest CAGR during forecast period
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The haptics software enables users to interact with devices. It has been developed to perform specific programmed tasks on various devices. The software layer is part of the haptic system that is responsible for ensuring multimodal consistency, decoding effects, and timing/scheduling effect playback. The part of the haptic stack manages the haptic experience in real time. The software layer must create command signals for the driver IC to convert into electrical signals to control the actuator. To produce high-quality haptic experiences, it is critical that the software layer has performance-oriented functionality. With technological advancements in consumer devices and the increased adoption of haptic-enabled devices, the software market is expected to grow significantly from 2023 to 2028.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Consumer devices accounted for the largest share of haptic technology market in 2022
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The consumer devices application of haptic technology includes various devices in which haptic effects are embedded, such as smartphones, tablets, gaming devices, smartwatches, cameras, media players, handheld devices, and haptics-enabled touch-based phones. Consumer electronics with haptics provide easier, intuitive access to music, multimedia, and photography. Almost all smartphones today are equipped with haptic devices. Smartphone companies are using advanced haptic components from leading players to integrate into their smartphones. The growing adoption of devices such as smartphones is expected to create opportunities for market players offering haptic technology hardware and software.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Asia Pacific to dominate the haptic technology market from 2023 to 2028
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The haptic technology market in Asia Pacific held the largest market share in 2022 and is projected to grow at the highest CAGR from 2023 to 2028. The global market players are experiencing increased demand for haptic solutions from countries such as China, Japan, and South Korea. Increasing demand for consumer electronic devices such as smartphones, tablets, and wearables in China, Japan, South Korea, and India is expected to drive the growth of the haptic technology market in the region. Moreover, constantly increasing vehicle production in countries such as China and India and presence of established consumer devices OEMs are also expected fuel the market growth in Asia Pacific.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Recent Developments
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In January 2023, TDK Corporation announced the TDK i3 Micro Module, which has a built-in edge AI and wireless mesh connectivity capability. Through TDK’s collaboration with Texas Instruments (TI), the i3 Micro Module integrates the TI SimpleLink platform, featuring the CC2652R7, an Arm Cortex-M4F multiprotocol 2.4-GHz wireless 32-bit microcontroller (MCU) for real-time monitoring.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In November 2022, Texas Instruments Incorporated announced the development of new Matter-enabled software development kits for Wi-Fi and Thread SimpleLink wireless microcontrollers (MCUs), CC3235SF and CC2652R7, which will streamline the adoption of the Matter protocol in the Internet of Things (IoT) applications.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In June 2022, Microchip Technology Inc. launched maXTouch Knob-on-Display (KoD), an automotive-grade touchscreen controller that facilitates the detection and reporting of capacitive rotary encoders and mechanical switches on a touch panel.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In October 2021, AAC Technologies announced its joint venture with OnePlus for OnePlus 9RT, SLS ultra-linear speaker with an NLC low-frequency algorithm and X-axis linear motor with RichTap tactile feedback.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In September 2020, Johnson Electric Holdings Limited announced the launch of a new addition to the professional line of hair dryer motor solutions. The ECI-050 brushless motor for hair dryers is a single-phase solution that offers better performance while being cost-effective.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • KEY MARKET SEGMENTS
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By component
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Hardware
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Software
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Application
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Consumer Devices
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Automotive & Transportation
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Education & Research
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Healthcare
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Commercial & Industrial
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Others
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Feedback Type
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Tactile
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Force
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Region
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • North America
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Europe
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Asia Pacific
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Rest of the World (RoW)
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Key Market Players
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Texas Instruments Incorporated
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Johnson Electric Holdings Limited
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • AAC Technologies
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • TDK Corporation
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Microchip Technology Inc.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments

Methodology

For the Haptic Technology Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Haptic Technology Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Haptic Technology Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Haptic Technology Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

The market for Haptic Technology was estimated to be valued at US$ XX Mn in 2021.

The Haptic Technology Market is estimated to grow at a CAGR of XX% by 2028.

The Haptic Technology Market is segmented on the basis of component, Application, Feedback Type, Region.

Based on region, the Haptic Technology Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The key players operating in the Haptic Technology Market are technology market is estimated to be worth USD 3.9 billion in 2022 and is projected to reach USD 5.0 billion by 2028, at a CAGR of 3.7% during the forecast period. , Rising integration of haptic technology into consumer devices, growing use of haptic technology in automotive industry, and increasing use of haptics in the healthcare industry are some of the major factors contributing to the haptic technology industry growth. , Haptic Technology Market Dynamics , Driver: Rising integration of haptic technology into consumer devices , Haptics is widely used in consumer devices to enhance the sensation, performance, and overall contribution of achieving touchscreen accuracy. The growing use of consumer devices such as wearables, smartphones, tablets, smart homes, and virtual reality hardware is a major factor contributing to the market’s growth. As most consumer devices are touch-enabled appliances integrated with haptics, the demand for haptic-based solutions is expected to increase significantly in the next five years. Haptic technology generates efficient and effective controls in a user-friendly format. Moreover, the increasing adoption of haptic technology in the gaming industry is expected to significantly contribute to market growth. For instance, Sony’s PlayStation 5 uses haptic effects in its gaming controllers to minimize the gap between human and digital interaction. Similarly, haptic technology is used in smartphones to stimulate a sense of touch through force, vibration, and motion for the end user. It delivers sensation through touch UI as it enhances the experience of conveying information from the digital to human and human to the digital world. The constantly growing use of smartphones is also a major factor contributing to the market growth. , Restraint: High cost of force feedback technology , Haptics that use tactile interfaces are majorly integrated into consumer devices and are not higher in cost than force feedback haptic devices. The major setback for the haptic technology market is the high cost of its force feedback devices used in the medical, automotive, aerospace, and manufacturing industries and supports assistive learning. Force feedback haptics requires efficient and effective devices with suitable features for running the haptic technology. They are categorized based on degrees of freedom (DoF) into 3DoF, 6DoF, and 7DoF. They allow the users to sense real-time virtual haptics while using them in various applications. The reason behind the high cost of force feedback technology is the development costs, material costs, and patent and licensing costs. Along with that, as the demand for force feedback haptic devices is still emerging, manufacturers cannot benefit from the economies of scale. For example, haptic gloves are sensor-based, which detects hand movements and stimulates force feedback to the users’ fingers. They are used in virtual reality and gaming applications to generate the touch sense and manipulate the objects of the digital world. However, they are quite expensive to purchase. , Opportunity: Rising applications of haptic technology in aerospace & defense industry , The adoption of mid-air haptics has increased in several industries, such as aerospace & defense. It is planned to be used in simulated pilot training or virtual reality flight decks to overcome the high cost and inefficiency that most airlines face. Mid-air haptic feedback technology will allow pilots to focus on other operations like monitoring the cockpit displays and other attention-grabbing monitors, even if it means drawing away the pilot’s attention from the view out of the window. Besides, haptics also has the potential to improve the safety of the environment, quality of pilot training, and flight experience for the pilot and the passengers. Haptic feedback can also detect situations based on immersion and intuition, allowing the pilot to understand the aircraft’s behavior and performance and implement effective and efficient decisions accordingly. Similarly, haptic technology can save time and money in the defense industry. It also enhances situational awareness, which can benefit the defense industry majorly. For instance, haptic feedback can alert the soldiers about the nearby or approaching threat, which will help them make logical decisions to protect themselves. Haptic technology using a tactile interface can also improve the accuracy and control of the weapon. , Challenge: High power consumption in haptic feedback , One of the major challenges the market players face is the high-power consumption of haptic feedback. The haptic mechanism in phones drains the battery, keeping users from gaining tactile feedback benefits. All battery power is required to run the motor, which triggers haptic feedback leading to high power consumption. This is expected to hinder the growth of haptic technology providers. Eccentric Rotating Mass (ERM) consumes a higher energy rate than Linear Resonant Actuator (LRA). Therefore, LRA provides a better battery life to the applications. Along with that Piezo actuator generates a quick response time, which creates short effects. Therefore, this short duration contributes towards energy savings. Designing solutions that focus on haptic drivers’ implementation will regenerate and boost converter-based implementation that reduces the rate of power dissipation and maximize the battery life of the haptic-enabled portable devices. , Haptic Technology Market Ecosystem , The prominent players in the haptic technology market are Texas Instruments Incorporated (US), Johnson Electric Holdings Limited (China), AAC Technologies (China), TDK Corporation (Japan), and Microchip Technology Inc. (US). These companies not only boast a comprehensive product portfolio but also have a strong geographic footprint. , Software to register highest CAGR during forecast period , The haptics software enables users to interact with devices. It has been developed to perform specific programmed tasks on various devices. The software layer is part of the haptic system that is responsible for ensuring multimodal consistency, decoding effects, and timing/scheduling effect playback. The part of the haptic stack manages the haptic experience in real time. The software layer must create command signals for the driver IC to convert into electrical signals to control the actuator. To produce high-quality haptic experiences, it is critical that the software layer has performance-oriented functionality. With technological advancements in consumer devices and the increased adoption of haptic-enabled devices, the software market is expected to grow significantly from 2023 to 2028. , Consumer devices accounted for the largest share of haptic technology market in 2022 , The consumer devices application of haptic technology includes various devices in which haptic effects are embedded, such as smartphones, tablets, gaming devices, smartwatches, cameras, media players, handheld devices, and haptics-enabled touch-based phones. Consumer electronics with haptics provide easier, intuitive access to music, multimedia, and photography. Almost all smartphones today are equipped with haptic devices. Smartphone companies are using advanced haptic components from leading players to integrate into their smartphones. The growing adoption of devices such as smartphones is expected to create opportunities for market players offering haptic technology hardware and software. , Asia Pacific to dominate the haptic technology market from 2023 to 2028 , The haptic technology market in Asia Pacific held the largest market share in 2022 and is projected to grow at the highest CAGR from 2023 to 2028. The market players are experiencing increased demand for haptic solutions from countries such as China, Japan, and South Korea. Increasing demand for consumer electronic devices such as smartphones, tablets, and wearables in China, Japan, South Korea, and India is expected to drive the growth of the haptic technology market in the region. Moreover, constantly increasing vehicle production in countries such as China and India and presence of established consumer devices OEMs are also expected fuel the market growth in Asia Pacific. , Recent Developments , In January 2023, TDK Corporation announced the TDK i3 Micro Module, which has a built-in edge AI and wireless mesh connectivity capability. Through TDK’s collaboration with Texas Instruments (TI), the i3 Micro Module integrates the TI SimpleLink platform, featuring the CC2652R7, an Arm Cortex-M4F multiprotocol 2.4-GHz wireless 32-bit microcontroller (MCU) for real-time monitoring. , In November 2022, Texas Instruments Incorporated announced the development of new Matter-enabled software development kits for Wi-Fi and Thread SimpleLink wireless microcontrollers (MCUs), CC3235SF and CC2652R7, which will streamline the adoption of the Matter protocol in the Internet of Things (IoT) applications. , In June 2022, Microchip Technology Inc. launched maXTouch Knob-on-Display (KoD), an automotive-grade touchscreen controller that facilitates the detection and reporting of capacitive rotary encoders and mechanical switches on a touch panel. , In October 2021, AAC Technologies announced its joint venture with OnePlus for OnePlus 9RT, SLS ultra-linear speaker with an NLC low-frequency algorithm and X-axis linear motor with RichTap tactile feedback. , In September 2020, Johnson Electric Holdings Limited announced the launch of a new addition to the professional line of hair dryer motor solutions. The ECI-050 brushless motor for hair dryers is a single-phase solution that offers better performance while being cost-effective. , KEY MARKET SEGMENTS , By component , Hardware , Software , By Application , Consumer Devices , Automotive & Transportation , Education & Research , Healthcare , Commercial & Industrial , Others , By Feedback Type , Tactile , Force , By Region , North America , Europe , Asia Pacific , Rest of the World (RoW) , Key Market Players , Texas Instruments Incorporated , Johnson Electric Holdings Limited , AAC Technologies , TDK Corporation , Microchip Technology Inc..

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