Press release
Haptic Technology Market: Rapid Growth Powered by Advances in AR, VR, IoT, and Mobile Devices Adoption
Haptic Technology Market
Strong Increase in Haptic Technology Adoption Set to Drive Market Growth to $15.25 billion by 2029
What Is The Projected Market Size Of The Global Haptic Technology Market And Its Growth Rate?
The Haptic technology market has shown sustained growth, underpinned by key developments such as:
•Market size increasing from $9.72 billion in 2024 to $10.37 billion in 2025, reflecting a CAGR of 6.7%.
•Rapid growth projected in the forthcoming years, reaching $15.25 billion by 2029, with a CAGR of 10.1% owing to expansion in AR and VR applications, IoT integration and to a larger extent, mobile devices adoption.
What Is Driving The Growth In The Haptic Technology Market?
The significant rise in consumer electronics penetration worldwide is the main driving factor of the haptic technology market. Consumer electronics, designed for personal use and consumption, is enhanced by haptic technology, adding tactile feedback, thus making interactions more intuitive, immersive, and engaging for users. For instance, Invest India reported in June 2023 that the domestic production of electronics was valued at $87 billion in FY22 and is expected to reach $300 billion by FY26. Moreover, Uswitch Limited reported that beginning in 2022, the UK population is expected to grow to 68.3 million by 2025, with 95% (approx. 65 million individuals) projected to own a smartphone. Therefore, the rising penetration of consumer electronics is driving the haptic technology market.
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Who Are the Key Players Driving Haptic Technology Market Growth?
Prominent players in the haptic technology market include:
•Samsung Electronics Co. Ltd.
•Meta Platforms Inc.
•Texas Instruments Incorporated
•TDK Corporation
•ON Semiconductor Corporation
•Microchip Technology Inc.
•Zebra Technologies Corporation
•The Johnson Electric Limited
•AAC Technologies Holdings Inc.
•Synaptics Incorporated
•SMK Corporation
•Ultrahaptic
•Immersion Corporation
•Quanser Consulting Inc
•HaptX Inc.
What Are The Key Trends In The Haptic Technology Market?
The haptic technology market is shaped by several key trends:
•Advancements in wearable tech
•Haptic feedback customization
•Widespread haptic adoption in wearables
•Advanced tactile displays
•Sustainable haptic technology
What Are The Segments Of The Global Haptic Technology Market?
The haptic technology market is categorized into the following segments:
•Component: Solution, Software
•Device Type: Active Haptics, Passive Haptics
•Feedback Type: Tactile, Force
•Touch Screen Technology Type: Capacitive, Resistive, Other Technologies
•Application: Consumer Electronics, Gaming, Healthcare, Robotics, Education, Research, Other Applications
Which Region Leads The Haptic Technology Market?
North America was the largest region in the haptic technology market in 2024. The other regions covered in the haptic technology market report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, Africa.
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What Is Covered In The Haptic Technology Market Global Market Report?
- Market Size Analysis: Analyze the Haptic Technology Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Haptic Technology Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Haptic Technology Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Haptic Technology Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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