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Redding, California - November 5, 2024

Haptic Technology Market to Reach $6.3 Billion by 2031

Haptic Technology Market Size, Share, Forecast, & Trends Analysis by Offering (Hardware, Software), Feedback (Force, Vibration, Others), Usage (Touchable, Graspable, Wearable), End-use Industry (Consumer Electronics, Gaming, Others) and Geography - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled "Haptic Technology Market - Global Opportunity Analysis and Industry Forecast (2024-2031)". According to this latest publication from Meticulous Research^®, the haptic technology market is expected to reach $6.3 billion by 2031, at a CAGR of 7.6% from 2024 to 2031.

Increased integration of haptic technology in consumer electronics, high adoption of haptic technology in healthcare industry, and surge in demand for immersive experiences expected to drive the market growth. However, market growth is restrained by high implementation cost of haptics. In addition, growing use of haptic technology in automotive industry and technological advancement in haptic technology provide considerable potential opportunities for market players. The market faces substantial challenges including high power consumption of haptic devices, safety and security concerns.

Key Players:

The haptic technology market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the haptic technology market are Texas Instruments, Inc. (U.S.), Immersion Corporation (U.S.), Force Dimension (Switzerland), Haption S.A.(France), 3D Systems, Inc. (U.S.), Johnson Electric (Hong Kong), AAC Technologies (Hong Kong), TDK Corporation (Japan), Microchip Technology (U.S.), Precison Microdrives (U.K.), Synaptics Incorporated (U.S.), Ultraleap (U.K.), AITO BV (Netherlands), ALPS ALPINE CO., LTD. (Japan), Infeneon Technologies (Germany), Analog Devices, Inc (U.S.), and Renesas Electronics Corporation (Japan).

The global haptic technology market is segmented by offering (hardware (actuators (eccentric rotating mass (ERM), linear resonant actuator (LRA) and piezoelectric actuators, drivers & microcontrollers), software); feedback type (force feedback, vibration feedback, tactile feedback, kinesthetic feedback, thermal feedback, texture feedback, and electrotactile feedback); usage (graspable haptics, touchable haptics and wearable haptics); end-use industry (consumer electronics, gaming, aviation, automotive, healthcare, education and research, commercial, industrial and other end-use industries). This study also evaluates industry competitors and analyzes the regional and country-level markets.

Among the offerings studied in this report, in 2024, the hardware segment is anticipated to dominate the haptic technology market. Some of the factors such as increased adoption of haptic technology in healthcare, education, automotive, and consumer electronics; innovations in sensors and actuators to make haptic devices more effective, compact, and affordable; and increased focus of manufacturers to launch innovative haptic devices are contributing to the segment’s dominant position in the haptic technology market.

Among the feedback type studied in this report, in 2024, the tactile feedback segment is anticipated to dominate the haptic technology market. Increased usage of tactile feedback in gaming to provide realistic sensations that enhance gameplay, such as feeling impacts or environmental changes and high demand in consumer electronics for notifications and alerts and make devices more user-friendly supports the segment’s dominant position in the haptic technology market.

Among the usage studied in this report, in 2024, the touchable haptics segment is anticipated to dominate the haptic technology market. The dominant position of this segment is mainly attributed to the factors such as improvements in haptic feedback systems, such as more precise actuators and better integration with software; high demand of touchable haptics to provide a more immersive and interactive experience; and increased use of touchable haptics in consumer electronics devices.

Among the end-use industry studied in this report, in 2024, the consumer electronics segment is anticipated to dominate the haptic technology market. The dominant position of this segment is mainly attributed to rising integration of haptics in consumer electronics to help users with visual impairments or other disabilities interact with devices more effectively, increased adoption of haptic technology for notifications and touch responses.

Geographic Review:

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, U.K., France, Italy, Spain, Switzerland, Netherlands and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, Singapore, Malaysia, Australia & New Zealand, Indonesia and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa (UAE, Israel, and Rest of Middle East & Africa)

Among the geographies studied in this report, in 2024, the Asia-Pacific region is anticipated to dominate the haptic technology market. Rapidly growing consumer electronics industry with high demand for smartphones, tablets, and gaming devices that incorporate haptic feedback; the popularity of mobile and console gaming in countries like China, Japan, and South Korea; rapid urbanization; improved internet connectivity; and rising investment on the development of haptic technology are some of the key factors contributing to the region’s dominant position in the haptic technology market.

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Key Questions Answered in the Report

What is the value of revenue generated by the sale of haptic technology solutions?
At what rate is the global demand for haptic technology projected to grow for the next five to seven years?
What is the historical market size and growth rate for the haptic technology market?
What are the major factors impacting the growth of this market on global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which offering, feedback type, usage, and end-use industry segments create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the haptic technology market?
Who are the major players in the haptic technology market? What are their specific product offerings in this market?
What recent developments have taken place in the haptic technology market? What impact have these strategic developments created on the market?

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Redding, California - November 5, 2024

Haptic Technology Market to Reach $6.3 Billion by 2031

Haptic Technology Market Size, Share, Forecast, & Trends Analysis by Offering (Hardware, Software), Feedback (Force, Vibration, Others), Usage (Touchable, Graspable, Wearable), End-use Industry (Consumer Electronics, Gaming, Others) and Geography - Global Forecast to 2031

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