Feeling the Difference: Market Dynamics and Future Prospects of Haptic Technology

Haptic Technology Market Size is estimated to be worth USD 3.9 billion in 2022 and is projected to reach USD 5.0 billion by 2028, at a CAGR of 3.7% during the forecast period.

Haptic technology is making significant contributions to the medical industry by enhancing training, surgical simulations, and remote surgeries. In medical training, haptic feedback provides a realistic sense of touch and resistance, aiding professionals in refining their skills with no live patients. Surgical simulators equipped with haptic feedback allow surgeons to practice procedures in a virtual environment, improving precision and proficiency. Remote surgeries benefit from haptic technology by enabling surgeons to feel and manipulate instruments from a distance, expanding access to specialized medical expertise.

  1. Haptic Technology Market Size: The global haptic technology market size is dynamic and subject to updates. As of my last knowledge update in January 2022, it was experiencing growth and was valued in the range of billions of dollars, with ongoing advancements and expansions.
  2. Haptic Technology in Medical Industry: Haptic technology enhances medical training and surgery simulations, offering realistic touch and resistance for skill development. It enables remote surgeries, allowing surgeons to operate from a distance with precision.
  3. Haptic Technology in gaming: In gaming, haptic technology provides tactile feedback through controllers, simulating sensations like vibrations and textures. It enhances player immersion by translating in-game actions into physical sensations, elevating the gaming experience.
  4. Haptic Technology in Augmented Reality: In augmented reality, haptic feedback adds a tangible dimension to virtual interactions. Users can feel and interact with virtual objects, contributing to a more immersive AR experience, particularly in applications like training, education, and remote assistance.

1 EXECUTIVE SUMMARY (Page No. — 50)

FIGURE 11 SOFTWARE SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD

FIGURE 12 TACTILE FEEDBACK SEGMENT TO DOMINATE HAPTIC TECHNOLOGY MARKET DURING FORECAST PERIOD

FIGURE 13 AUTOMOTIVE & TRANSPORTATION SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD

FIGURE 14 ASIA PACIFIC TO LEAD HAPTIC TECHNOLOGY MARKET DURING FORECAST PERIOD

2 PREMIUM INSIGHTS (Page No. — 53)

4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HAPTIC TECHNOLOGY MARKET

FIGURE 15 INTEGRATION OF HAPTICS INTO CONSUMER DEVICES

4.2 HAPTIC TECHNOLOGY MARKET, BY COMPONENT

FIGURE 16 HARDWARE SEGMENT TO HOLD LARGER SHARE OF HAPTIC TECHNOLOGY MARKET DURING FORECAST PERIOD

4.3 HAPTIC TECHNOLOGY MARKET, BY FEEDBACK TYPE

FIGURE 17 TACTILE FEEDBACK TO DOMINATE HAPTIC TECHNOLOGY MARKET DURING FORECAST PERIOD

4.4 HAPTIC TECHNOLOGY MARKET, BY APPLICATION

FIGURE 18 CONSUMER DEVICES SEGMENT TO LEAD HAPTIC TECHNOLOGY MARKET DURING FORECAST PERIOD

4.5 ASIA PACIFIC HAPTIC TECHNOLOGY MARKET, BY APPLICATION AND COUNTRY

FIGURE 19 CONSUMER DEVICES SEGMENT AND CHINA HELD LARGEST SHARES OF ASIA PACIFIC HAPTIC TECHNOLOGY MARKET IN 2022

3 MARKET OVERVIEW (Page No. — 56)

5.1 INTRODUCTION

5.2 MARKET DYNAMICS

FIGURE 20 HAPTIC TECHNOLOGY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES

5.2.1 DRIVERS

5.2.1.1 Rising integration of haptic technology into consumer devices

FIGURE 21 SMARTPHONE SHIPMENTS, 2022–2028 (MILLION UNITS)

5.2.1.2 Growing use of haptic technology in automotive industry

FIGURE 22 GLOBAL CAR AND COMMERCIAL VEHICLE PRODUCTION, 2015–2021 (MILLION UNITS)

5.2.1.3 Increasing use of haptic technology in healthcare industry

5.2.1.4 Increasing adoption of haptic technology in industrial applications

FIGURE 23 HAPTIC TECHNOLOGY MARKET: IMPACT ANALYSIS OF DRIVERS

5.2.2 RESTRAINTS

5.2.2.1 High cost of force feedback technology

FIGURE 24 HAPTIC TECHNOLOGY MARKET: IMPACT ANALYSIS OF RESTRAINTS

5.2.3 OPPORTUNITIES

5.2.3.1 Rising applications of haptic technology in aerospace & defense industry

5.2.3.2 Technological advancements in haptic technology

FIGURE 25 HAPTIC TECHNOLOGY MARKET: IMPACT ANALYSIS OF OPPORTUNITIES

5.2.4 CHALLENGES

5.2.4.1 Technical challenges related to product design

5.2.4.2 High power consumption in haptic feedback

FIGURE 26 ENERGY CONSUMPTION OF DIFFERENT TYPES OF ACTUATORS IN MOBILE DEVICES

5.2.4.3 Leakage issues associated with pneumatic and hydraulic actuators

FIGURE 27 HAPTIC TECHNOLOGY MARKET: IMPACT ANALYSIS OF CHALLENGES

5.3 VALUE CHAIN ANALYSIS

FIGURE 28 HAPTIC TECHNOLOGY MARKET: VALUE CHAIN ANALYSIS

5.4 ECOSYSTEM ANALYSIS

FIGURE 29 HAPTIC TECHNOLOGY MARKET: ECOSYSTEM ANALYSIS

5.5 TECHNOLOGY ANALYSIS

5.5.1 VIBROTACTILE HAPTIC FEEDBACK

5.6 CASE STUDY ANALYSIS

5.7 PRICING ANALYSIS

TABLE 1 AVERAGE SELLING PRICE (ASP) OF ACTUATORS

FIGURE 30 AVERAGE SELLING PRICE (ASP) TREND FOR DRIVERS AND MICROCONTROLLERS

5.8 PATENT ANALYSIS

TABLE 2 PATENTS FILED FROM 2012 TO 2022

FIGURE 31 NUMBER OF PATENTS GRANTED, 2012–2022

FIGURE 32 TOP 20 COMPANIES WITH HIGHEST NUMBER OF PATENTS GRANTED

TABLE 3 KEY PATENTS RELATED TO HAPTIC TECHNOLOGY

5.9 PORTER’S FIVE FORCES ANALYSIS

FIGURE 33 HAPTIC TECHNOLOGY MARKET: PORTER’S FIVE FORCES ANALYSIS

FIGURE 34 IMPACT OF PORTER’S FIVE FORCES ON HAPTIC TECHNOLOGY MARKET, 2022

5.9.1 THREAT OF NEW ENTRANTS

5.9.2 THREAT OF SUBSTITUTES

5.9.3 BARGAINING POWER OF SUPPLIERS

5.9.4 BARGAINING POWER OF BUYERS

5.9.5 INTENSITY OF COMPETITIVE RIVALRY

5.10 TRADE ANALYSIS

TABLE 4 IMPORT DATA FOR ELECTRIC MOTORS AND GENERATORS, BY COUNTRY, 2017–2021 (USD MILLION)

FIGURE 35 IMPORT DATA FOR ELECTRIC MOTORS AND GENERATORS, BY COUNTRY, 2017–2021 (USD MILLION)

TABLE 5 EXPORT DATA FOR ELECTRIC MOTORS AND GENERATORS, BY COUNTRY, 2017–2021 (USD MILLION)

FIGURE 36 EXPORT DATA FOR ELECTRIC MOTORS AND GENERATORS, BY COUNTRY, 2017–2021 (USD MILLION)

TABLE 6 IMPORT DATA FOR PROCESSORS AND CONTROLLERS, BY COUNTRY, 2017–2021 (USD BILLION)

FIGURE 37 IMPORT DATA FOR PROCESSORS AND CONTROLLERS, BY COUNTRY, 2017–2021 (USD BILLION)

TABLE 7 EXPORT DATA FOR PROCESSORS AND CONTROLLERS, BY COUNTRY, 2017–2021 (USD BILLION)

FIGURE 38 EXPORT DATA FOR PROCESSORS AND CONTROLLERS, BY COUNTRY, 2017–2021 (USD BILLION)

5.11 REGULATORY LANDSCAPE PERTAINING TO HAPTIC TECHNOLOGY MARKET

5.11.1 GOVERNMENT REGULATIONS

5.11.1.1 Asia Pacific

5.11.1.2 North America

5.11.1.3 Europe

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