Haptic Technology Market size worth $ 6.20 Billion, Globally, by 2028 at 12.10% CAGR: Verified Market Research®

JERSEY CITY, N.J., Feb. 3, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Haptic Technology Market" By Component (Actuators, Drivers and Controllers), By Feedback (Tactile and Force), By Application (Consumer Electronics, Gaming, Healthcare). According to Verified Market Research, the Global Haptic Technology Market size was valued at USD 2.48 Billion in 2020 and is projected to reach USD 6.20 Billion by 2028, growing at a CAGR of 12.10% from 2021 to 2028.

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Browse in-depth TOC on "Haptic Technology Market"

202 - Pages
126 – Tables
37 – Figures

Global Haptic Technology Market Overview

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

Haptic technology, which earlier was limited up to smartphones, tablets, and other consumer devices, is now 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 over a precise control. By using haptic gloves, robot operators can precisely control the robot arms even while sitting miles away from the factory floor. HaptX (US) is one of the largest providers of haptic gloves for robotic applications.

The challenge in the global Haptic Technology Market pertains to the technical challenges faced by the product manufacturers to enable haptic functionality in several devices such as smartphones, tablets, automobile dashboards, and gaming.

Key Developments

• November 2020: Ultraleap signed an agreement with IPlan Ideas Events and its division, I-plan Ideas Technologies (IPI Tech), a subsidiary of UAE-based Hawas Group, to bring Ultraleap's hand tracking and mid-air haptic technologies to clients in the UAE. IPI Tech will introduce the technology to a range of sectors, including kiosk makers, retail, advertising and marketing, and cinemas, among others.
• September 2020, Immersion 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 the use of Immersion haptic software in its entire range of smartphones.

Key Players

The major players in the market are 3D Systems, Aito B.V.,  Force Dimension, Senseg Oy (Finland) Force Dimension (Switzerland), Haption SA (France), Texas Instruments, Inc. (U.S.), Ultrahaptics (U.K), ON Semiconductor Corporation (U.S.), SMK Corporation (Japan), Microchip Technology, Inc. (U.S.), Precision Microdrives, Ltd. (U.K.), IMAGIS Co., Ltd. (South Korea), Haptx Inc. Immersion Corporation, and Synaptics Incorporated (U.S.).

Verified Market Research has segmented the Global Haptic Technology Market On the basis of Component, Feedback, Application, and Geography.

• Haptic Technology Market, By Component
• Actuators
• Drivers and Controllers
• Software
• Others
• Haptic Technology Market, By Feedback
• Tactile
• Force
• Haptic Technology Market, By Application
• Consumer Electronics
• Gaming
• Healthcare
• Others
• Haptic Technology Market by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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