Size of the haptic technology market worth $6.20 billion, globally, by 2028 at a CAGR of 12.10%: Verified Market Research®

JERSEY CITY, NJ, February 3, 2022 /PRNewswire/ — Verified Market Research recently released a report, “Haptic technology marketBy component (actuators, drivers, and controllers), by feedback (touch and force), by application (consumer electronics, gaming, healthcare). According to verified market research, the global haptic technology market size was valued at $2.48 billion in 2020 and is expected to reach $6.20 billion by 2028, growing at a CAGR of 12.10% from 2021 to 2028.

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Overview of the global haptic technology market

Haptics is gaining acceptance in smartphones and tablets and has reached saturation level in these devices. Many companies are evaluating the integration of haptic technology and evaluating the risk and cost of adding new features. Although the integration of haptics (tactile haptics) in mobiles and tablets does not involve high costs, the price of force feedback haptics is high compared to tactile feedback and other haptic devices. Force feedback haptics requires efficient and effective devices which are mainly available in three degrees of freedom (DoF), 6 DoF and 7 DoF, which allow users to experience real-time virtual haptics in various applications. Haptic devices based on force feedback are mainly used in simulation applications in the medical, automotive, aerospace and manufacturing sectors, as well as in ergonomic studies. These haptic devices are bulky, which becomes a problem in the case of portable haptic devices.

Haptic technology, which was previously limited to smartphones, tablets and other consumer devices, is now being used in new areas of education and robotics. In robotics, haptic devices such as gloves are used by robot operators to manipulate a robotic hand or other end effectors to precise control. By using haptic gloves, robot operators can precisely control robot arms even when seated miles above the factory floor. HaptX (USA) is one of the largest suppliers of haptic gloves for robotic applications.

The global haptic technology market challenge relates to the technical challenges faced by product manufacturers to enable haptic functionality in multiple devices such as smartphones, tablets, automotive dashboards, and games.

Key developments

  • November 2020: Ultraleap has signed an agreement with IPlan Ideas Events and its division, I-plan Ideas Technologies (IPI Tech), a subsidiary of the UAE-based Hawas Group, to bring Ultraleap’s in-air hand tracking and haptic technologies to UAE customers. IPI Tech will bring the technology to a range of industries, including kiosk manufacturers, retail, advertising and marketing, and cinemas, among others.
  • September 2020Immersion has signed a multi-year license renewal with LG Electronics (South Korea) for continued use of TouchSense software and haptic technologies in its mobile devices. LG is expected to continue using Immersion haptic software across its smartphone lineup.

Key players

Major players in the market are 3D Systems, Aito BV, Force Dimension, Senseg Oy (Finland) Strength rating (Switzerland), Happion S.A. (France), Texas Instruments, Inc. (USA), Ultrahaptics (UK), ON Semiconductor Corporation (USA), SMK Corporation (Japan), Microchip Technology, Inc. (USA), Precision Microdrives, Ltd. (UK), IMAGIS Co., Ltd. (South Korea), Haptx Inc. Immersion Corporation and Synaptics Incorporated (USA).

Verified Market Research has segmented the global haptic technology market on the basis of components, reviews, applications, and geography.

  • Haptics Technology Market, By Component
    • Actuators
    • Pilots and controllers
    • Software
    • Others
  • Haptic Technology Market, By Feedback
  • Haptics Technology Market, By Application
    • Consumer electronics
    • Games
    • Health care
    • Others
  • Haptic Technology Market by Geography
    • North America
    • Europe
      • Germany
      • France
      • UK
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • LINE
      • Middle East & Africa
      • Latin America

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