Market Dynamics
what are the primary factors driving the haptic technology market?
Rising sales of consumer electronic devices
The demand for energy storage devices has increased due to the rise in popularity of electronic devices like smartphones, tablets, smartwatches, notepads, headsets, and earbuds. For instance, the Global System for Mobile Communications Association predicts that by 2025, there will be 5.9 billion unique users worldwide. The technology's numerous benefits, including enhanced touchscreen, sound, and visual effects in display touch applications, are anticipated to hasten its adoption of it in the electronics industry. As a result of the increasing trend of digitalization in gaming apps and devices that support augmented reality, it is anticipated that the market for haptic technology will expand.
Implementation of haptic technology in the edu-tech industry
Due to factors like rising holographic display demand and steadily increasing use of haptic technology in robotics and education, among others, the haptic technology market will grow quickly. Robots that use haptic technology, such as gloves, can fully control the movement of a robotic hand and other objects. The robots can easily control robotic arms because of haptic technology. The industry is expanding as 3D touchscreen displays are used in automobiles and medical equipment more frequently.
what are the main factors that will slow down the haptic technology market?
High cost of haptic devices
The cost of using haptic technology is not prohibitive, but the cost of force-feedback haptic devices, which are more expensive than tactile information haptic devices, has severely restricted the market for haptic technology. It might also be unaffordable for many organizations due to the high switching costs associated with this technology. In a number of application sectors, this serves as a significant roadblock to adoption. Haptic technology cannot yet be widely used in smartphones and other portable devices because these products consume a lot of power.
what are the future opportunities for haptic technology market?
Increasing demand for gaming hardware
A rise in the popularity of mobile-based video games is expected to fuel the gaming industry's significant growth. When haptic technology is incorporated into gaming consoles and smartphone devices, gamers have a better experience in the real world. Haptic feedback aims to better simulate gaming experiences in real life by enabling precise vibrations that aid in a more accurate representation of what is taking place in the game. Haptic feedback enables much more subtlety than the loud vibrations of older gaming controllers, ranging from the delicate splashing of droplets to something more severe, like a blast in a game. A number of market participants in the virtual gaming industry are releasing new products that use better haptic technology in order to meet the rising demand for cutting-edge consoles.
Regional Analysis
The global haptic technology market share is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Asia pacific dominates the global market
Asia Pacific region is the highest contributor to the market during the forecast period. Increasing use of consumer electronics such as tablets, smartphones, and other smart wearable devices is the key factor driving market growth in the region. Moreover, rising demand for internet-enabled devices, mobile devices, wearables, and other related smart devices in countries such as India, China, Japan, and Russia, among others, is further imparting growth momentum to the haptic technology market.
Europe is expected to witness dynamic growth in the haptic technology market. The growing consumer spending on technologically advanced consumer electronics is driving the market for haptic technology in Europe. Touchscreen technology is clearly in high demand in Europe, especially for use in the retail, consumer, and automotive sectors. For instance, London-based IGT (International Game Technology) uses a mid-air haptic feedback solution to implement its TRUE 4D games on the CrystalCurve TRUE 4D cabinet. Additionally, IGT has also integrated Ultrahaptics mid-air haptic technology with glasses-free TRUE 3D and gesture recognition technology to create multi-sensory gaming experiences.
North America is expected to witness significant growth in the haptic technology market during the forecast period due to increasing smartphone penetration and usage of internet-enabled devices or IoT devices. Furthermore, 80% of people in the region already use smartphones, and by 2025, that percentage is expected to rise to 91%, according to data from GSMA Intelligence. The growing smart wearable market is also anticipated to drive the growth of haptic technology in the region, and more emphasis was placed on health by COVID. A greater percentage of smartwatch purchasers made their decision to upgrade their general fitness or health.
The LAMEA region is expected to witness moderate growth in the global haptic technology mobility market during the forecast period owing to the high penetration of smartphones and smart wearable devices. Additionally, rising demand for consumer electronics integrated with haptic components is further expected to drive market growth in the region.
Segmental Analysis
The global haptic technology market share is segmented by component, feedback, and application.
Based on components, the global market is bifurcated into hardware and software.
The hardware segment encompasses critical components such as drivers and controllers, and actuators. Drivers and controllers play a crucial role in regulating the electric signals that drive the actuators, ensuring precise control over haptic feedback. These components are essential for enabling accurate and responsive tactile experiences in various applications, including gaming, virtual reality, and automotive systems. Actuators, on the other hand, are the mechanical components that generate the physical sensations users feel. The development of innovative drivers, controllers, and actuator technologies is pivotal in enhancing the realism and effectiveness of haptic feedback, making this hardware segment a key focus area for market players.
The software segment is the highest contributor to the market during the forecast period. Better accuracy, increased user experience, faster response times, and improved device performance are just a few of the many benefits of haptic software. The software market is being driven by the proliferation of smartphones, extensive use of haptic-based technology across numerous industries, and rapid expansion of high-end consumer electronics.
The actuators segment is expected to witness a higher CAGR. The growing trend of technological evolution for an immersive experience is expected to drive the growth of the actuator segment, increasing penetration of IoT devices and implementation of systems integrated with haptic technology components using eccentric rotating mass (ERM), linear resonant actuator (LRA), and piezoelectric actuators, among others are likely to foster the global haptic technology market growth. For instance, Apple Inc. introduced the Taptic Engine, an IoT system based on LRA technology tuned to a specific resonant frequency optimized to stimulate a click effect. It also offers a localized haptic experience to improve users' touch on the keyboard.
Based on the feedback, the global market is bifurcated into tactile and force.
Kinesthetic feedback systems in the haptic technology market focus on providing users with tactile sensations that replicate the feeling of physical interactions. This sector includes gadgets and technologies that render force, resistance, or motion feedback to try to simulate real-world experiences, thus trying to increase the level of immersion for users in both virtual and augmented reality. Thus, highly demanded kinesthetic feedback needs to be present in many areas, such as gaming and medical simulators, as well as training systems, where accurate physical feedback can bring realism to the next level and be presented in an excellent user experience.
Resistive feedback systems generate tactile sensations by opposing the user's movements, while active kinesthetic systems actively manipulate the forces felt by the user to simulate the sensation of touching and interacting with virtual objects. These technologies are increasingly used in applications such as virtual reality, gaming, medical training, and robotics, where realistic touch interactions enhance user experience and training efficiency. The market for these systems is driven by advancements in haptic technology, growing demand for immersive experiences, and expanding applications in various industries.
Electrotactile Feedback systems are characterized by electrical stimulation to create tactile sensations on the skin, thereby allowing users to feel virtual textures and shapes. Unlike traditional mechanical haptic devices, electrotactile systems can produce more accurate and diverse sensations. They are particularly valuable in areas such as medical training and gaming, along with virtual reality, for which realistic touch feedback improves user experience. The demand for these systems is powered by advances in technology and rising adoption in industries that require sophisticated and immersive user interfaces.
The ultrasound tactile feedback systems segment in the haptic technology market covers advanced systems using ultrasound waves to create tactile sensations in mid-air. These systems are fast gaining popularity because they offer touch feedback without having to make any direct physical contact; hence, finding use in virtual and augmented reality applications, medical simulations, and human computer interaction. It uses phased arrays of ultrasound transducers to modulate air pressure in such a way that accurate tactile sensations can be produced.
The force feedback segment is the highest contributor to the market during the forecast period. The development of new gaming controllers utilizes force feedback haptic technology to enhance the gaming experience. Driving wheels and other input apparatus that simulate vehicle operation, such as flight simulator rigs, can be used with force feedback. The force feedback motor in these gadgets exerts a force on the controller along an axis. When a player spins a racing wheel to simulate an action in the game, a rotational force turns the wheel.
The tactile feedback segment is expected to grow at a significant rate owing to the increasing penetration of touchscreen devices such as smartphones, laptops, wearable devices, and tablets, among others. It further provides augmented gesture control with natural tactile feedback, haptics to virtual objects, and the development of immersive holographic interfaces.
Based on the application, the global market is bifurcated into gaming, education, healthcare, consumer electronics, automotive, and transportation.
Consumer Electronics includes smartphones, tablets, wearable devices, gaming consoles, and virtual reality (VR) equipment. Haptic technology in consumer electronics enhances user experience by providing tactile feedback, making interactions more intuitive and immersive. The demand for haptic technology in this segment is driven by the increasing need for advanced user interfaces and the growing popularity of devices that require precise touch and motion feedback.
This technology plays a crucial role in medical simulations, training, and rehabilitation, providing realistic tactile sensations that aid in surgical training, diagnostic procedures, and patient care. Haptic feedback devices are employed in minimally invasive surgeries, where they offer precise control and sensory feedback to surgeons, thereby improving the accuracy and safety of procedures. Additionally, haptic technology is increasingly utilized in physical therapy and rehabilitation, allowing patients to engage in immersive exercises that mimic real-life movements and conditions.
It involves creating tactile feedback to simulate the sense of touch, is employed in various aerospace applications, including cockpit controls, flight simulators, and maintenance training systems. For cockpit controls, haptic feedback provides pilots with tactile cues that enhance their ability to manage complex systems and maintain control, even in challenging conditions. In flight simulators, haptic technology improves realism by allowing pilots to experience the physical sensations associated with different flight manoeuvres, contributing to more effective training.
In educational institutions, haptic systems are used to create immersive learning experiences across various subjects, from engineering and medicine to art and design. In medical training, haptic feedback allows students to practice surgical techniques on virtual patients, improving their skills and confidence before working with real-life scenarios. Research centres leverage haptic technology to explore new methods of human-computer interaction, investigate sensory feedback mechanisms, and develop innovative applications.
The automotive and transportation segment is the highest contributor to the market during the forecast period. The advancements in the automotive sector, the rising demand for advanced electrical components among electric and hybrid vehicles, the preference for luxury vehicles, and the integration of haptic technology into in-vehicle infotainment systems are the major factors behind this development. The haptic technology is used in the accelerator pedals, climate control displays, dashboards, and steering wheels.
The gaming segment is expected to grow at a significant rate. Increasing demand for more innovative and interesting gaming consoles is also expected to drive the haptic technology market growth.
