The Biggest Opportunities for the Future of Haptics, IDTechEx Reports

BOSTON, July 11, 2022 /PRNewswire/ -- Over the last decade, the market revenue for haptics has experienced rapid growth with a ~2.6-fold increase. The biggest change in that time was in 2015 when Apple first launched their custom linear resonant actuator (LRA), Taptic Engine, within their flagship products. Since then, the market focus has no longer been providing simple rumbling and vibration but instead has shifted to high-definition tactile feedback giving a wide range of sensations. This market change, followed by an increasing number of end-product providers, drove the rapid growth between 2015 and 2017. The market trends then lay dormant until 2020 and 2021, when another mile-stone product, the Sony DualSense controller, was launched. This new product, and the sales of many haptics-relevant devices, surged due to COVID lockdowns, which led to the second wave of quick increase in the market revenue.

IDTechEx has released its latest report on haptics, projecting that the industry's annual revenue will grow to over US$5 billion by 2027 and will continue to increase through to 2033. The new report, "Haptics 2023-2033: Technologies, Markets, and Players", includes historic data and market forecasts from 2010-2033. This data has been developed through IDTechEx's extensive experience in the haptics industry and supported by their in-depth research into other relevant markets.

Although IDTechEx is optimistic about the long-term market, the revenue growth is forecast to slow in the next few years. This will be caused by the commoditization of the current incumbent technologies, LRAs, and eccentric rotating mass (ERM) motors, and the saturation of relevant device sales. Hence, the market players are now planning for how the industry can continue to grow regardless of these factors. One key route is by driving toward more advanced and high-value haptic technologies. The new research from IDTechEx covers the significant emerging options in the market, from other electromagnetic actuators (e.g. voice coil motors) to other technologies such as piezoelectric actuators (ceramic, composite, and polymer based), shape memory alloys, microfluidics, electrostatic systems, and more. The report offers a thorough technological assessment and benchmarking, examining the commercial potential of the emerging technologies in the future market.

Another strategy for accelerating the market growth is to focus on the sectors where haptics have not been ubiquitously adopted or where there could be more significant use cases for haptics. In its new report, "Haptics 2023-2033: Technologies, Markets, and Players", IDTechEx address this consideration by providing abundant case studies in different categories. Themes such as contactless haptics, button haptics, display/surface haptics, and kinaesthetic haptics each have their dedicated chapters, as each exhibit separate trends within the broader ecosystem. Furthermore, the report looks into different industries, across smartphones, wearables, gaming, AR, VR & MR, automotive, and more related products, discovering the emerging trends for haptics in these fields. Some examples of the opportunities identified by IDTechEx sit in VR/AR/MR and automotive industries, and are showing great market potential in the next decade. For more information on this report, please visit www.IDTechEx.com/Haptics or for the full portfolio of research available from IDTechEx Research please visit www.IDTechEx.com/research.

About IDTechEx 

IDTechEx guides your strategic business decisions through its Research, Subscription and Consultancy products, helping you profit from emerging technologies. For more information, contact [email protected] or visit www.IDTechEx.com. 

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SOURCE IDTechEx