According to IMARC Group’s latest report, titled “Haptic Technology Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global haptic technology market size reached US$ 9.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.5 Billion by 2028, exhibiting a growth rate (CAGR) of 11.9% during 2023-2028.
Haptic technology, or kinesthetic communication, represents the virtual and mixed reality solutions that offer multi-model experiences by engaging sound, sight, and touch. It involves techniques that use physical feedback and pressure sensitivity to operate through various devices, such as actuators, drivers, software, and microcontroller units. The haptic actuators are electronic instruments that convert electric signals to vibrations that can be sensed by the user operating the device. As a result, this technology finds widespread applications in creating and controlling game consoles, surgical equipment, virtual objects, and wearable devices to enhance the efficiency of telerobots and remote-controlled machines.
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The expanding consumer electronics sector and the escalating demand for these solutions for improved scalability of devices are among the primary factors driving the haptic technology market. Besides this, the elevating requirement for these techniques in gaming applications is further augmenting the market growth. Moreover, the growing popularity of haptics in smartphones, tablets, media players, home appliances, and virtual interfaces for enhanced sound, touch, and visual effects have facilitated improvements in product designs and operational efficiencies, which is also catalyzing the global market. Apart from this, the inflating need for these solutions in gaming input devices, including operating consoles and joysticks to provide several intensities of vibrations and mechanical signals, is acting as another significant growth-inducing factor. Additionally, the rising usage of 3D-touchscreen displays in automobiles and medical electronics is also stimulating the market growth. Furthermore, the increasing utilization of these techniques in robotics, manufacturing, and industrial automation, and the development of efficient tools and instruments for visually impaired individuals, are expected to bolster the haptic technology market in the coming years.
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List of Key Companies Covered in this Market Report:
- 3d Systems Corporation
- 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
The report has segmented the market on the basis of component, feedback, technology, application and geography.
Breakup by Component:
- Drivers and Controllers
Breakup by Feedback:
Breakup by Technology:
Breakup by Application:
- Automotive and Transportation
- Consumer Electronics
- Education and Research
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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