Haptic Technology for Mobile Devices Market Analysis 2020: By Keyplayers

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Market Overview

Haptic technology is also known as kinaesthetic communication or 3D touch, is a type of technology that is used to create experience of touch by applying forces to the user. The haptic devices are equipped with tactile sensors, which are used to measure the force exerted by user on the interface. Haptic devices are basically in the form of joysticks, game controllers, and steering wheels. There are different kinds of components used in the haptic technology such as actuators, haptic drive and controllers. Haptic technology is used in many applications such as consumer electronics, healthcare, automotive, robotics, gaming consoles, and others. These factors are expected to drive the market growth over the forecast period.

The global haptic technology for mobile devices market is expected to exhibit a CAGR of 18% during the forecast period (2019-2027).

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Competitive Section

Key companies operating in the haptic technology for mobile devices market include Immersion, Texas Instruments Incorporated, Precision Microdrives Limited, Johnson Electric Holdings Limited, AAC Technologies, Analog Devices, Inc., ALPS ALPINE CO., LTD., Microchip Technology Inc., Cypress Semiconductor Corporation, Methode Electronics, NIDEC COPAL ELECTRONICS, SMK ELECTRONICS CORPORATION U.S.A, Visteon Corporation, Semiconductor Components Industries, LLC, Synaptics Incorporated, Apple Inc., and SAMSUNG.

Market Dynamics- Drivers

Increasing adoption of haptic technology in consumer electronics is expected to drive growth of the global haptic technology for mobile devices market during the forecast period 

The increasing demand for consumer electronics is expected to drive demand for haptic technology for mobile devices. Nowadays haptic technology is the common feature in most of the smartphones and tablets. The increasing penetration of internet of things (IoT) in the emerging economies has driven growth of smartphones, tablets, and other mobile devices. For instance, according to Coherent Market Insights, in China, the penetration of smartphone increased from 676.5 million in 2017 to 782.3 million in 2020. The main factor for rising demand for haptic technology is attributed to the rising number of smartphone manufacturers. Moreover, touch screen have become the most preferred interfaces for mobile devices.
Furthermore, smart wearables such as smart watches are using haptic technology, in order to offer good consumer experience, across the globe is the factor that is expected to drive growth to the market.

Asia Pacific is expected to witness significant growth over the forecast period. This is attributed due to growing smart phone penetration and increasing usage of internet connected devices. For instance, according to Coherent Market Insights, in China, the penetration of smartphone as share of population increased from 66.3% in 2016 to 73.2% in 2022. Apart from Asia Pacific, North America is expected to account for the largest market share over the forecast period, owing to presence of key players in the region such as Texas Instruments Incorporated and Precision Microdrives Limited. For instance according to Coherent Market Insight's report, the number of smart phone users in the U.S. increased from 209.5 million in 2016 to 273.3 million in 2020. 

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Market Opportunities

1. Increasing demand for haptic technology in textile, automotive, and healthcare industries are expected to create lucrative growth opportunities for market players.

The increasing demand for haptic technology in the textile industry due to integration of the new haptic technology, where people can feel the texture of the cloth by using internet. Recently a force jacket have was launched using haptic technology. This jacket include experiences of augmented reality and virtual reality, where a person can feel the haptic effects including hug and pinch on the body. This technology is used in gloves through virtual reality applications. For instance, when a person will use these gloves, it can monitor how the person is interacting with the real objects and how skin is stretching or contracting when person lift any object. These factors are expected to drive demand for haptic technology during the forecast period.

Moreover, haptic technology is adopted by the automotive manufacturers to provide more information to drivers about safety of the cars. Drivers will be able to feel the road and control the car systems using haptic sensors. Furthermore, cars are also getting enhanced to have understanding of their surrounding and react as par situation by sharing the information with driver through vibration. Currently this technology is utilized in seat and steering wheel. Steering wheels or seat can vibrate to inform driver, when lane change is happening without any indication. Thus, increase of haptic technology in automotive industry is expected to drive the market growth over the forecast period.

Moreover, haptic technology finds its increasing application in healthcare. The trainee surgeons can perform virtual operation by using haptic technology. This process of conducting a virtual operation as a trainee minimizes the risk of harming a human life. Telepresence surgery is used in medical industry and haptic technology allow expert surgeons to operate patients from a distance and give the appearance of being present in the surgeries.  Haptic technology provides doctors with the "feel" of virtual patients by using virtual reality application in the medical field. This is expected to drive demand for haptic technology over the forecast period

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This release was published on openPR.