Overview and Scope
The surface haptics technology market consists of revenues earned by entities by providing services such as touch feedback development, integration services, training and support, and maintenance and upgrades. The market value includes the value of related goods sold by the service provider or included within the service offering. The surface haptics technology market also includes sales of gaming controllers, wearable devices, medical devices, accessibility devices, art, and design, which are the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sizing and Forecast
The surface haptics technology market size has grown rapidly in recent years. It will grow from $4.38 billion in 2023 to $5.01 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to the increasing adoption of industrial automation, growing adoption of virtual reality and augmented reality in various sectors, increasing adoption of surface haptics technology, and expanding applications across industries.
The surface haptics technology market size is expected to see rapid growth in the next few years. It will grow to $8.54 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to rising demand for enhanced user experience, rising smartphone penetration, rising adoption of touch-based devices, the growing uptake of smartphones, the gaming market increasing hastily, and rising adoption of consumer electronics. Major trends in the forecast period include technology advancements, immersive technologies, integration into smartphones and tablets, technological innovation hubs, integration with artificial intelligence, integration of tactile feedback into smaller devices, and innovation in tactile feedback design.
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Segmentation & Regional Insights
The surface haptics technology market covered in this report is segmented –
1) By Component: Actuators, Sensors, Electronics, Other Components
2) By Feedback Type: Tactile Feedback, Force Feedback, Haptic Feedback
3) By Application: Consumer Devices, Automotive And Transportation, Education And Research, Commercial And Industrial, Healthcare, Other Applications
North America was the largest region in the surface haptics technology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surface haptics technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing adoption of virtual reality and augmented reality is expected to propel the growth of the surface haptics technology market going forward. Virtual reality immerses users in a completely digital environment, while augmented reality overlays digital elements onto the real world, enhancing perception and interaction. The growing adoption of virtual reality and augmented reality can be attributed to their immersive experiences that enhance training, entertainment, and visualization, coupled with advancements in hardware affordability and software accessibility. Surface haptics technology enhances the immersive experience in virtual reality and augmented reality by providing tactile feedback, making interactions feel more realistic and engaging, thus driving increased adoption of these technologies. For instance, in the 2024 Department for Business and Trade, a UK-based government department, spending on augmented reality and virtual reality in the UK is projected to surge by 78.3%, reaching £62.5 billion by 2030, indicating substantial investment prospects in the country. Therefore, the growing adoption of virtual reality and augmented reality is driving the growth of the surface haptics technology market.
Key Industry Players
Major companies operating in the surface haptics technology market are Apple Inc., Samsung Electronics Co Ltd., Texas Instruments Incorporated, TDK Corporation, Infineon Technologies AG, On Semiconductor Corporation, Microchip Technology Incorporated, Johnson Electric, Cirrus Logic Inc., Synaptics Incorporated, SMK Corporation, 3D Systems Corporation, Elo Touch Solutions Inc., Actronika SAS, Ultraleap Limited, Immersion Corporation, Aito BV, Hap2u, Teslasuit, Alpine Electronics Inc., Boréas Technologies, Precision Microdrives Limited, Force Dimension, Novasentis, Tanvas Inc.
The surface haptics technology market report table of contents includes:
1. Executive Summary
2. Surface Haptics Technology Market Characteristics
3. Surface Haptics Technology Market Trends And Strategies
4. Surface Haptics Technology Market – Macro Economic Scenario
5. Global Surface Haptics Technology Market Size and Growth
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32. Global Surface Haptics Technology Market Competitive Benchmarking
33. Global Surface Haptics Technology Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Surface Haptics Technology Market
35. Surface Haptics Technology Market Future Outlook and Potential Analysis
36. Appendix
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