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Press Release: Haptic Technology for Mobile Devices Market is expected to Exhibit a CAGR of 18% During the Forecast period (2019-2027)
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
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).
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.
Among regions, Asia Pacific region held a dominant position in the global haptic technology for mobile devices market in 2019, accounting for 29% share in terms of value, followed by North America and Europe, respectively.
Source: Coherent Market Insights
Market Restraints
The power consumption and technical challenges related to designing of mobile devices are the major factors that are expected to restrain the market growth of haptic technology for mobile devices over the forecast period. Moreover, all the mobile devices that are enabled with haptic technology are battery-powered and thus more engineers and designers are concerned about the power consumption in the battery. Basically there are two types of haptic technologies which are used in the mobile devices such as basic haptic and HD haptic technologies. The devices which are made with basic haptic technology consume more power as compared to HD haptic technologies. When HD haptic technologies are used in mobile devices, then the consumption of power is higher than the basic haptic technology devices. These factors are expected to hinder demand for haptic technology for mobile devices and thereby expected to restrain the market growth over the forecast period.
Market Opportunities
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
Source: Coherent Market Insights
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.
Key Developments
Haptic technology is a technology, which generates the feel of touch on screen through vibrations, force, and motion that is felt by the user. Haptic technology is also known as tactile technology, which use vibrations and different kind of pattern waveforms in the smart phones. This waveforms are used to convey information to the user. Vibrations in form of alerts, bells, and visual alerts uses haptic technology for transferring message to the users. With this technology people can feel the digital world through touch and physical vibration rather than just seeing it through the screen. It involves the physical contact between the user and the mobile devices. Most of the smart devices are inbuilt with the haptic technology, which is further used for enhancing user experiences. Hence, these haptic devices are cost effective and can be developed easily. These factors are expected to drive the growth of haptic technology for mobile devices market over the forecast period.
Market Dynamics
The adoption of innovative haptic technology by the users is the major factor that is expected to drive the market growth over the forecast period. Moreover, increasing penetration of internet of things (IoT) increased demand for smartphones and tablets in the market. The haptic technology is mainly used in consumer electronics such as smartphones and tablets, which enhances the consumer experiences by using VR applications in real time. Rising demand for mobile devices and smart wearables from countries such as China, India, and Japan are expected to drive the market growth. For instance, according to Coherent Market Insights report, the penetration of smartphones users in China increased from 672.7 million in 2017 to 782.3 million in 2020.
Moreover, the increasing demand for sensory experience is a significant factor that is expected to drive market growth during the forecast period. The adoption of haptic technology is helpful in human and computer interactions in the real time. Haptic technologies uses advanced actuators and sensors. Haptic sensing technologies is more superior compared to other sensing technologies that are limited to only vision and audio. This technology deliver high touch sensations when consumers use these electronic devices and experiences a virtual experience. These new haptic technology provide haptic feedback, which uses advanced vibration to convey information to the users as compared to the conventional touch screen who does not provide any feedback functions. Thus, increasing demand for haptic technology is expected to drive the market growth during the forecast period.
Market Taxonomy
This report segments the global haptic technology for mobile devices market on the basis of type, application, and region. On the basis of type, the global haptic technology for mobile devices market is segmented into actuators, drivers and controllers, software, and others. On the basis of application, the global haptic technology for mobile devices market is segmented into smart phones, tablets, and others. On the basis of region, the global haptic technology for mobile devices market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
Key features of the study:
Detailed Segmentation:
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Table of Contents
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