Haptics Technology Market Report - (Growth and Size by 2031)
The Haptics Technology Market is expected to register a CAGR of 11.4% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Application (Automotive and Transportation, Consumer Electronics, Education and Research, Gaming, Healthcare, Engineering, Others); Component (Actuators, Drivers and Controllers, Software, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Haptics Technology Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Haptics Technology Market Segmentation
Application- Automotive and Transportation
- Consumer Electronics
- Education and Research
- Gaming
- Healthcare
- Engineering
- Others
- Actuators
- Drivers and Controllers
- Software
- Others
Strategic Insights
Haptics Technology Market Growth Drivers- Growing Demand for Immersive User Experiences: One of the primary drivers of the haptic technology market is the increasing demand for immersive user experiences across various applications. As industries such as gaming, virtual reality (VR), and augmented reality (AR) continue to expand, the need for realistic tactile feedback becomes essential. Haptic technology enhances user engagement by providing a sense of touch, making interactions more intuitive and lifelike. This trend is particularly evident in gaming, where haptic feedback can significantly enhance gameplay by simulating physical sensations, thus driving market growth.
- Growing Advancements in Consumer Electronics: The rapid advancements in consumer electronics, particularly smartphones and wearable devices, are significantly contributing to the growth of the haptic technology market. Modern devices increasingly incorporate haptic feedback to improve user interfaces, making interactions more responsive and enjoyable. For instance, smartphones utilize haptic technology for notifications, touch responses, and gaming experiences. As manufacturers continue to innovate and integrate haptic features into their products, the demand for haptic technology is expected to rise, further propelling market expansion.
- Growing Focus on Customization and Personalization: Another emerging trend in the haptic technology market is the focus on customization and personalization of haptic feedback experiences. As users seek more tailored interactions with their devices, companies are developing software and hardware solutions that allow users to adjust the intensity, duration, and type of haptic feedback they receive. This trend is particularly relevant in gaming and mobile applications, where personalized haptic experiences can significantly enhance user satisfaction and engagement, driving further innovation in the market.
- Rise of Wearable Haptic Devices: The market is witnessing a rise in wearable haptic devices, which are designed to provide tactile feedback in various applications, including fitness, gaming, and communication. These devices, such as haptic gloves and vests, allow users to experience sensations in virtual environments, enhancing immersion and interaction. As the demand for wearable technology continues to grow, manufacturers are increasingly focusing on developing innovative haptic solutions that cater to this trend, thereby expanding the market's potential.
- Growing Expansion in Gaming and Entertainment: The gaming and entertainment sectors present significant opportunities for the haptic technology market. As the industry continues to evolve with the introduction of VR and AR experiences, the demand for advanced haptic feedback systems is expected to surge. Companies can capitalize on this opportunity by developing innovative haptic devices and solutions that enhance immersion and user engagement in gaming. This includes creating specialized controllers, gloves, and other peripherals that provide realistic tactile sensations, thereby enriching the overall gaming experience.
- Growth in Training and Simulation Applications: Haptic technology offers substantial opportunities in training and simulation applications across various industries, including aviation, military, and healthcare. By providing realistic tactile feedback, haptic systems can enhance training programs, allowing trainees to practice skills in a safe and controlled environment. This is particularly valuable in high-stakes fields where hands-on experience is crucial. Companies that focus on developing haptic solutions for training and simulation can tap into this growing market and establish themselves as leaders in this niche.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Haptics Technology Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Haptics Technology Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Haptics Technology Market is estimated to witness a CAGR of 11.4% from 2023 to 2031
The major factors driving the Haptics Technology market are Growth of Consumer Electronics and Expanding Role of Haptics in Gaming and Virtual Reality (VR).
Advancements in Automotive and Driver Assistance Systems is anticipated to play a significant role in the global Haptics Technology market in the coming years
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation# as our team would review the same and check the feasibility
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Haptics Technology Market - By Application
1.3.2 Haptics Technology Market - By Component
1.3.3 Haptics Technology Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HAPTICS TECHNOLOGY MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. HAPTICS TECHNOLOGY MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. HAPTICS TECHNOLOGY MARKET - GLOBAL MARKET ANALYSIS
6.1. HAPTICS TECHNOLOGY - GLOBAL MARKET OVERVIEW
6.2. HAPTICS TECHNOLOGY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. HAPTICS TECHNOLOGY MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. AUTOMOTIVE AND TRANSPORTATION
7.3.1. Overview
7.3.2. Automotive and Transportation Market Forecast and Analysis
7.4. CONSUMER ELECTRONICS
7.4.1. Overview
7.4.2. Consumer Electronics Market Forecast and Analysis
7.5. EDUCATION AND RESEARCH
7.5.1. Overview
7.5.2. Education and Research Market Forecast and Analysis
7.6. GAMING
7.6.1. Overview
7.6.2. Gaming Market Forecast and Analysis
7.7. HEALTHCARE
7.7.1. Overview
7.7.2. Healthcare Market Forecast and Analysis
7.8. ENGINEERING
7.8.1. Overview
7.8.2. Engineering Market Forecast and Analysis
7.9. OTHERS
7.9.1. Overview
7.9.2. Others Market Forecast and Analysis
8. HAPTICS TECHNOLOGY MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
8.1. OVERVIEW
8.2. COMPONENT MARKET FORECASTS AND ANALYSIS
8.3. ACTUATORS
8.3.1. Overview
8.3.2. Actuators Market Forecast and Analysis
8.4. DRIVERS AND CONTROLLERS
8.4.1. Overview
8.4.2. Drivers and Controllers Market Forecast and Analysis
8.5. SOFTWARE
8.5.1. Overview
8.5.2. Software Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. HAPTICS TECHNOLOGY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Haptics Technology Market Overview
9.1.2 North America Haptics Technology Market Forecasts and Analysis
9.1.3 North America Haptics Technology Market Forecasts and Analysis - By Application
9.1.4 North America Haptics Technology Market Forecasts and Analysis - By Component
9.1.5 North America Haptics Technology Market Forecasts and Analysis - By Countries
9.1.5.1 Canada Haptics Technology Market
9.1.5.1.1 Canada Haptics Technology Market by Application
9.1.5.1.2 Canada Haptics Technology Market by Component
9.1.5.2 Mexico Haptics Technology Market
9.1.5.2.1 Mexico Haptics Technology Market by Application
9.1.5.2.2 Mexico Haptics Technology Market by Component
9.1.5.3 US Haptics Technology Market
9.1.5.3.1 US Haptics Technology Market by Application
9.1.5.3.2 US Haptics Technology Market by Component
9.2. EUROPE
9.2.1 Europe Haptics Technology Market Overview
9.2.2 Europe Haptics Technology Market Forecasts and Analysis
9.2.3 Europe Haptics Technology Market Forecasts and Analysis - By Application
9.2.4 Europe Haptics Technology Market Forecasts and Analysis - By Component
9.2.5 Europe Haptics Technology Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Haptics Technology Market
9.2.5.1.1 Germany Haptics Technology Market by Application
9.2.5.1.2 Germany Haptics Technology Market by Component
9.2.5.2 France Haptics Technology Market
9.2.5.2.1 France Haptics Technology Market by Application
9.2.5.2.2 France Haptics Technology Market by Component
9.2.5.3 Italy Haptics Technology Market
9.2.5.3.1 Italy Haptics Technology Market by Application
9.2.5.3.2 Italy Haptics Technology Market by Component
9.2.5.4 United Kingdom Haptics Technology Market
9.2.5.4.1 United Kingdom Haptics Technology Market by Application
9.2.5.4.2 United Kingdom Haptics Technology Market by Component
9.2.5.5 Russia Haptics Technology Market
9.2.5.5.1 Russia Haptics Technology Market by Application
9.2.5.5.2 Russia Haptics Technology Market by Component
9.2.5.6 Rest of Europe Haptics Technology Market
9.2.5.6.1 Rest of Europe Haptics Technology Market by Application
9.2.5.6.2 Rest of Europe Haptics Technology Market by Component
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Haptics Technology Market Overview
9.3.2 Asia-Pacific Haptics Technology Market Forecasts and Analysis
9.3.3 Asia-Pacific Haptics Technology Market Forecasts and Analysis - By Application
9.3.4 Asia-Pacific Haptics Technology Market Forecasts and Analysis - By Component
9.3.5 Asia-Pacific Haptics Technology Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Haptics Technology Market
9.3.5.1.1 Australia Haptics Technology Market by Application
9.3.5.1.2 Australia Haptics Technology Market by Component
9.3.5.2 China Haptics Technology Market
9.3.5.2.1 China Haptics Technology Market by Application
9.3.5.2.2 China Haptics Technology Market by Component
9.3.5.3 India Haptics Technology Market
9.3.5.3.1 India Haptics Technology Market by Application
9.3.5.3.2 India Haptics Technology Market by Component
9.3.5.4 Japan Haptics Technology Market
9.3.5.4.1 Japan Haptics Technology Market by Application
9.3.5.4.2 Japan Haptics Technology Market by Component
9.3.5.5 South Korea Haptics Technology Market
9.3.5.5.1 South Korea Haptics Technology Market by Application
9.3.5.5.2 South Korea Haptics Technology Market by Component
9.3.5.6 Rest of Asia-Pacific Haptics Technology Market
9.3.5.6.1 Rest of Asia-Pacific Haptics Technology Market by Application
9.3.5.6.2 Rest of Asia-Pacific Haptics Technology Market by Component
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Haptics Technology Market Overview
9.4.2 Middle East and Africa Haptics Technology Market Forecasts and Analysis
9.4.3 Middle East and Africa Haptics Technology Market Forecasts and Analysis - By Application
9.4.4 Middle East and Africa Haptics Technology Market Forecasts and Analysis - By Component
9.4.5 Middle East and Africa Haptics Technology Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Haptics Technology Market
9.4.5.1.1 South Africa Haptics Technology Market by Application
9.4.5.1.2 South Africa Haptics Technology Market by Component
9.4.5.2 Saudi Arabia Haptics Technology Market
9.4.5.2.1 Saudi Arabia Haptics Technology Market by Application
9.4.5.2.2 Saudi Arabia Haptics Technology Market by Component
9.4.5.3 U.A.E Haptics Technology Market
9.4.5.3.1 U.A.E Haptics Technology Market by Application
9.4.5.3.2 U.A.E Haptics Technology Market by Component
9.4.5.4 Rest of Middle East and Africa Haptics Technology Market
9.4.5.4.1 Rest of Middle East and Africa Haptics Technology Market by Application
9.4.5.4.2 Rest of Middle East and Africa Haptics Technology Market by Component
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Haptics Technology Market Overview
9.5.2 South and Central America Haptics Technology Market Forecasts and Analysis
9.5.3 South and Central America Haptics Technology Market Forecasts and Analysis - By Application
9.5.4 South and Central America Haptics Technology Market Forecasts and Analysis - By Component
9.5.5 South and Central America Haptics Technology Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Haptics Technology Market
9.5.5.1.1 Brazil Haptics Technology Market by Application
9.5.5.1.2 Brazil Haptics Technology Market by Component
9.5.5.2 Argentina Haptics Technology Market
9.5.5.2.1 Argentina Haptics Technology Market by Application
9.5.5.2.2 Argentina Haptics Technology Market by Component
9.5.5.3 Rest of South and Central America Haptics Technology Market
9.5.5.3.1 Rest of South and Central America Haptics Technology Market by Application
9.5.5.3.2 Rest of South and Central America Haptics Technology Market by Component
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. HAPTICS TECHNOLOGY MARKET, KEY COMPANY PROFILES
11.1. GEOMAGIC, INC.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. IMAGIS CO., LTD.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. JOHNSON ELECTRIC HOLDINGS LTD.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. MICROCHIP TECHNOLOGIES, INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. ON SEMICONDUCTOR CORPORATION
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. PRECISION MICRODRIVES LTD.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SMK CORPORATION
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SYNAPTICS INCORPORATED
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. TEXAS INSTRUMENTS, INC.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. ULTRAHAPTICS
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Geomagic, Inc.
2. Imagis Co., Ltd.
3. Johnson Electric Holdings Ltd.
4. Microchip Technologies, Inc.
5. On Semiconductor Corporation
6. Precision Microdrives Ltd.
7. SMK Corporation
8. Synaptics Incorporated
9. Texas Instruments, Inc.
10. Ultrahaptics
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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