Global Haptic Technology Market to Grow at a CAGR of 14% During 2024-2032, Aided by Increasing Digitisation Worldwide and the Rising Adoption of Internet-Connected Devices.

As the fields of virtual and augmented reality are experiencing considerable advancements, driven largely by growing demand for immersive experiences across the gaming, entertainment, professional education, and healthcare sectors, the haptic technology market size is expanding.

 
Integration of haptic technology facilitates tactile interactivity that deepens realism within virtual settings, accelerating its incorporation. For instance, haptic input allows surgical simulation exercises to mimic tissue texture and responses, enhancing training quality substantially. As interactive virtual modelling assumes greater significance, partnerships that couple augmented reality development with haptics are likely to yield experiential gains across numerous domains in the coming years.

The automotive industry has increasingly incorporated haptic technology into vehicle user interfaces to facilitate safer and more intuitive driver experiences. Both touchscreen infotainment systems and steering wheel controls now utilise haptic feedback to provide tactile cues, thereby helping to mitigate driver distraction. For example, a motorist could receive a haptic notification through the steering wheel alerting to lane departure warnings. As automobiles continue advancing with more sophisticated functionalities like autonomous driving capabilities, the importance of haptic feedback for maintaining safety and comfort will become even more significant.

3D Systems Corporation (NYSE: DDD) offers The Touch, a mid-range, professional haptic device used in research, 3D modelling, and original equipment manufacturer (OEM) applications. The Touch is a motorised device that applies force feedback to the user’s hand, allowing them to feel virtual objects and producing life-like touch sensations as users manipulate on-screen 3D objects. When used with the OpenHaptics developer software toolkit, The Touch allows developers to design and deploy haptic programs rapidly, integrate them into existing applications, prototype new ideas, and create products enabled with haptic technology. The Touch is also sold as a component of Geomagic Freeform.

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Market Breakup by Technology, Component, Feedback, Application, and Region:

• On the basis of the technology, the market is categorised into resistive technology and captive technology, among others.

• The market can be segmented based on component into microcontrollers, drivers, actuators, and software, among others.

• On the basis of feedback, the market is bifurcated into force and tactile.

• The market can be segmented based on application into automotive and transportation, consumer electronics, education and research, healthcare, engineering, and gaming, among others.

• By region, the market can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The incorporation of haptic technology into joysticks, video games, steering wheels, and controllers enhances the overall user experience by integrating sound, motion, and light. This allows operators to manipulate and feel virtual tools and senses through the combination of virtual haptics with the physical world. Haptics are viewed as a more immersive sensory modality compared to other inputs used for human-computer interaction, such as vision and audio.

• The swift rise in overall demand for consumer electronics like tablets, smartphones, home appliances, media players and virtual interfaces, coupled with the need for efficient product differentiation, is expected to significantly propel the global haptic technology market growth during the forecast period. Rapid advances in technology have increased consumer expectations for more immersive, tactile experiences across a wide array of digitally enabled products and services.

• Advancements in technology as well as increasing demand for future video games are expected to further fuel overall market growth in the coming years. Additionally, the rising demand for product differentiation to achieve consumer loyalty is another key aspect bolstering the adoption of advanced technologies. The utilisation of haptics, especially in healthcare and medicine primarily for specialised surgical procedures, is also anticipated to augment the market growth in the forecast period.

Key Offerings of the Report:

• The EMR report gives an overview of the global haptic technology market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the technologies, components, feedbacks, applications, and major regions of haptic technology.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global haptic technology market are Immersion Corporation, Johnson Electric Holdings Limited, Force Dimension, 3D Systems, Inc., and Ultraleap Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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