Global Haptic Technology Market Report and Forecast 2024-2032

Global Haptic Technology Market Size

The global haptic technology market value is expected to grow at a CAGR of 14% during the forecast period of 2024-2032.

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Global Haptic Technology Market Growth

Haptic technology simulates the sense of touch through vibrations or other sensations, serving as an interface between the user and the device. It delivers tactile or force feedback, enhancing user experience, thus, driving the demand of the haptic technology market. Haptics find wide applications and are known to enhance the user experience by engaging sound, light, and touch, especially in joysticks, controllers, and steering wheels in video games.

Global Haptic Technology Market Analysis

With growing digitisation and increasing penetration and usage of internet-enabled devices, the demand for haptic technologies is expected to grow in the coming years, especially in the Asia Pacific region. Additionally, technological advancements are expected to drive the haptic technology market forward. Early adoption of technology and rapid advancements in the field have provided impetus to the haptic technology industry growth.

Furthermore, research and development activities across the globe and the drive to develop newer applications for haptic technology are expected to drive the industry forward. Changing lifestyles coupled with an increasing demand for touchscreens for enhanced consumer experience are expected to bolster the growth of the haptic technology market.

Global Haptic Technology Industry Outlook

According to the Industry report of 2020, consumer electronics ownership trends showed steady and increasing patterns globally. Smartphone ownership remained constant at 89% from 2019 to 2020. Smart TV ownership saw a notable rise from 51% in 2019 to 56% in 2020, while smart home devices (excluding smart speakers) increased from 18% to 22%. The smartwatch market also expanded, with ownership growing from 15% in 2019 to 20% in 2020. Smart speaker penetration went up from 26% in 2019 to 31% in 2020, and tablet ownership rose from 51% to 55%.

Desktop computer ownership saw a modest increase from 43% in 2019 to 44% in 2020, while laptop ownership rose notably from 62% to 66%. By 2020, 25% of consumers had tried VR technology, with 75% of them having a positive experience. This growing interest in VR, coupled with the benefits of haptic technology, which adds tactile feedback to enhance immersion, is driving the haptic technology market revenue.

According to MSIM estimates from June 2020, video game spending in 2019 totalled USD 194 billion, with mobile gaming contributing USD 85 billion, console gaming USD 54 billion, and PC gaming USD 55 billion globally. By 2020, total spending rose to USD 205 billion, with mobile gaming at USD 94 billion, console gaming at USD 55 billion, and PC gaming steady at USD 56 billion. The upward trend continued in 2021, reaching USD 214 billion in total spending. Mobile gaming further increased to USD 108 billion, console gaming stayed at USD 56 billion, and PC gaming grew to USD 58 billion. In 2022, total spending climbed to USD 224 billion, with mobile gaming at USD 114 billion, console gaming at USD 58 billion, and PC gaming at USD 60 billion.

As per industry reports, total gaming expenditure stood at USD 237 billion in 2023, with mobile gaming accounting for USD 119 billion, console gaming at USD 57 billion, and PC gaming at USD 61 billion. By 2024, total spending is expected to rise to USD 242 billion, with mobile gaming increasing to USD 125 billion, console gaming remaining at USD 57 billion, and PC gaming growing to USD 62 billion. In 2025, total spending is forecast to reach USD 246 billion, with mobile gaming continuing to lead at USD 125 billion, console gaming slightly increasing to USD 58 billion, and PC gaming rising to USD 63 billion. This growth in gaming expenditure supports the haptic technology industry revenue as it enhances gaming experiences through tactile feedback that replicates real-world sensations.

Haptic technology improves user interactions by providing tactile feedback, which enhances the overall user experience in devices like smartphones, gaming consoles, and wearables.

• Continuous advancements in haptic technology, including integration with virtual and augmented reality, drive market growth and offer new applications.

• Increasing consumer demand for immersive and intuitive technology experiences in various sectors, including entertainment and automotive, supports the growth of the haptic technology market.

Developing and implementing advanced haptic technology can be expensive, which may limit adoption, especially for smaller companies.

• Achieving high-quality and precise haptic feedback can be technically complex, potentially leading to inconsistent user experiences.

• Some consumers and industries may have limited awareness of the benefits and potential applications of haptic technology.

Emerging applications in healthcare, automotive, and consumer electronics present significant growth in the haptic technology market opportunities.

• As virtual and augmented reality technologies advance, the demand for haptic feedback to enhance immersion and interaction will increase.

• Integrating haptic technology with the Internet of Things (IoT) devices can open new market segments and innovative use cases.

The market is highly competitive, with numerous players developing similar technologies, which may impact pricing and market share.

• Economic downturns can reduce consumer spending on advanced technology, affecting market growth.

• Rapid advancements in technology can lead to shorter product life cycles and a constant need for innovation, posing challenges for market players.

Key Players in the Global Haptic Technology Market and Their Key Initiatives

Immersion Corporation

• Signed a license agreement with Samsung Electronics to capture the haptic technology market opportunities.

• Partnered with Razer to enhance haptic feedback in gaming peripherals. 

Johnson Electric Holdings Limited

• Introduced advanced actuators for enhancing touchscreen haptic feedback.

• Developed high-performance haptic motors for integration into consumer electronics.

Force Dimension

• Introduced high-precision haptic devices for medical training and simulation.

• Launched advanced haptic feedback systems for robotic surgery applications to meet the growing demand of the haptic technology market. 

3D Systems, Inc.

• Introduced Touch X, an advanced haptic device for enhanced precision.

• Partnered with healthcare institutions to integrate advanced haptic solutions.

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Global Haptic Technology Industry Segmentation

“Global Haptic Technology Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Technology 

• Resistive Technology

• Captive Technology

• Others

Market Breakup by Component 

• Microcontrollers

• Drivers

• Actuators

• Software

• Others

Market Breakup by Feedback 

• Force

• Tactile

Market Breakup by Application 

• Automotive and Transportation

• Consumer Electronics

• Education and Research

• Healthcare

• Engineering

• Gaming

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

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Haptic Technology Market Share

Rapidly growing demands for consumer electronics devices, like smartphones, tablets, and home appliances, and the need for product differentiation are driving the global haptic technology market forward. As new industries are joining the market, there has been a rise in new technologies and improvements in the existing structures of haptic technologies, taking the market forward. Moreover, increasing demand for gaming applications is acting as a catalyst for haptic technology market demand.

The adoption of haptic technology structures in the medical sector to train doctors in various surgical procedures is providing impetus to the market. Moreover, the adoption of technologies like the Internet of Things (IoT) is expected to drive the market forward.

Leading Companies in the Haptic Technology Market

The companies specialise in motion subsystems and associated technologies, offering innovative solutions for automotive, industrial, and consumer markets.

• Immersion Corporation 

• Johnson Electric Holdings Limited 

• Force Dimension 

• 3D Systems, Inc. 

• Ultraleap Limited 

• Others

Key Highlights of the Report

Haptic Technology Market Report Snapshots

Haptic Technology Market Size

Haptic Technology Market Growth

Haptic Technology Market Analysis

Haptic Technology Market Share

Haptic Technology Companies