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The haptics market is estimated to grow at a CAGR of 11.4% between 2022 and 2027. The size of the market is forecast to increase by USD 7,523.18 million. The growth of the market depends on several factors, including the adoption of HD haptics, the demand for interactive sensory experiences, and the increased demand for in-car infotainment services.
This report extensively covers market segmentation by application (consumer electronics, automotive and transportation, and others), component (hardware and software), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The adoption of HD haptics is notably driving the market growth, although factors such as high power consumption may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Haptics Market Driver
The adoption of HD haptics is notably driving the market growth. Implementation of HD haptics provides a satisfactory and intuitive experience and solves the general problems of users in daily life. For instance, a salesperson must carry different catalogs to show their customers. The customers can see the color and the type of fabrics but cannot feel them. However, with haptic technology, customers can feel the smoothness, softness, and stiffness of the fabrics displayed on the salesperson's cell phone. Similarly, HD haptics technology is being widely used by game developers to provide a more intuitive user experience to their customers.
Through HD haptics technology, the player could feel the bumps and crashes while playing racing games, and the player could even feel the strings of the guitar while playing. Considering the availability of endless opportunities for HD haptics technology in mobile devices, Immersion conducted a survey to study consumer attitudes and preferences toward HD haptics technology for mobile devices. The increasing adoption of HD haptics in mobile phones is expected to drive the growth of the global haptics market during the forecast period.
Key Haptics Market Trend
The emergence of ultra haptics is the primary trend in the market. Floating touchscreens could be one of the future trends that will drive the global haptics market in the automotive segment. Many research activities are being conducted to design systems for creating 3D virtual objects that can be seen and felt in the air. For instance, researchers in Japan have created a floating 3D holographic plasma display with haptic feedback. Researchers at the University of Bristol are also working on 3D haptics holograms.
This could be very beneficial, especially for automobiles. Operating the infotainment system using this technology would mean reduced interference while driving. The user could operate the on-screen images without touching the screen. Thus, helping the driver keep his eyes on the road. For instance, to answer calls while driving, the user will have to swipe on the projected 3D holographic image. The tactile feedback in vibration will give him confirmation of the task being completed successfully. Thus, the emergence of ultra haptics is one of the growing trends which is expected to drive the growth of the global haptics market during the forecast period.
Key Haptics Market Challenge
High power consumption is the major challenge impeding the market growth. Power density is a key factor required for technological advances in power electronics, especially in high-power applications. Mobile devices are battery-powered systems. Therefore, engineers and designers are more concerned with the power consumption of haptic technology in battery-critical applications. There are two scenarios when considering power consumption as one of the major challenges for haptics technology. Firstly, the addition of basic haptic technology in mobile devices will impact their battery life.
Secondly, the addition of HD haptics technologies in mobile devices will impact their battery life. This is because the battery consumption is different in both scenarios. While considering basic haptics, such as vibration alerts during incoming calls or messages, or while playing video games using basic haptics, it has been found that there is a minimal effect on battery life. Immersion carried out this research to show the effect on the battery life of mobile devices with haptics and without haptics.
However, the battery consumption of HD haptics applications in mobile devices will be high compared with basic haptics. This is because HD haptics effects will require several actuators, amplifiers, and sensors to add multiple sensory effects to mobile devices resulting in higher power consumption. Thus, high power consumption can become a major challenge for the growth of the global haptics market during the forecast period.
Key Haptics Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Haptics Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AAC Technologies Holdings - The company offers haptics such as optics, RF antenna, traditional microphones, and headsets. Through this segment, the company also offers precision processing and haptics. Additionally, through the other products segment, the company offers other products such as optics, RF antennae, traditional microphones, and headsets.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the consumer electronics segment will be significant during the forecast period. Consumer electronic devices include gaming consoles, smart bands, smartphones, smartwatches, and tablets. The use of haptics has been around for decades, but recently there has been a resurgence in the adoption of this technology across the consumer electronics segment. The touchscreen interface is quickly emerging and has become one of the preferred interfaces in various consumer electronic devices such as mobile devices, gaming consoles, and wearables.
The changing market dynamics and increasing consumer expectations are leading to an increase in the uptake of advanced touchscreen controls in consumer electronics devices, especially touchscreens with haptic touch. Such factors are expected to drive the growth of the consumer electronics segment in the global haptics market during the forecast period.
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The consumer electronics segment was valued at USD 6,698.44 million in 2017 and continued to grow until 2021. The market is expected to witness a high growth rate due to the introduction of ultra haptics and 3D haptics in tablets during the forecast period. Technavio expects that some of the major tablet vendors, such as Apple, Samsung, and Lenovo, will adopt ultra haptics in their devices. To support ultra haptics, the number of actuators incorporated in them will increase, resulting in a high growth rate in the market.
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APAC is projected to contribute 71% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
APAC is expected to dominate the haptics market because of the presence of major consumer electronics devices and automotive manufacturers. The major consumer electronics device manufacturers in the region include Acer, Asus, Fujitsu, HTC, LG, Lenovo, Meizu, Oppo, OnePlus, Panasonic, Samsung, Sony, Xiaomi, and ZTE. There is a high probability that these vendors will primarily introduce new products in APAC, leading to a higher revenue contribution from the region. The growth of the smartphone market in APAC is encouraging several smartphone OEMs to establish their manufacturing facilities in the region and capitalize on the cost advantage.
The outbreak of COVID-19 in 2020 adversely affected the economic growth in APAC. However, the lockdown restrictions were lifted in the second half of 2020 owing to large-scale vaccination drives across APAC. This has resumed business activities in several industries, including automotive and consumer electronics, in the first half of 2020. Thus, with the increasing production in these industries, it is expected to drive down the demand for haptic technology during the forecast period.
The reports categorize the global haptics market as a part of the global technology hardware, storage, and peripherals market within the overall global information technology market. The parent global technology hardware, storage, and peripherals market covers manufacturers of cellular phones, personal computers, servers, electronic computer components, and peripherals. It also includes data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by application (consumer electronics, automotive and transportation, and others), component (hardware and software), and geography (APAC, North America, Europe, South America, and the Middle East and Africa).
Haptics Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.4% |
Market growth 2023-2027 |
USD 7,523.18 million |
Market structure |
Fragmented |
YoY growth (%) |
10.5 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 71% |
Key countries |
US, China, Japan, South Korea, and India |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
3D Systems Corp, AAC Technologies Holdings Ltd., Alps Alpine Co. Ltd, Analog Devices Inc., Dongwoon Anatech Co. Ltd., Force Dimension, HAPTION SA, IMAGIS Co. Ltd., Immersion Corp., Infineon Technologies AG, Johnson Electric Holdings Ltd, Microchip Technology Inc., ON Semiconductor Corp, OSRAM GmbH, Precision Microdrives Ltd., SMK Corp., Synaptics Inc., Texas Instruments Inc., Toyoda Gosei Co. Ltd., and Ultraleap Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
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