The Global Haptic Technology For Mobile Devices Market is estimated to be valued at US$ 2,670.0 Mn in 2023 and is expected to exhibit a CAGR of 18.6% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Haptic technology provides tactile feedback to the user through the sense of touch by applying forces, vibrations, or motions to the user. It allows user to control and manipulate virtual objects during interaction with touchscreens, keyboards, joystick controllers, etc. The growing gaming industry and virtual reality applications are fueling demand for haptic technology enabled mobile devices.
Market key trends:
One of the major trends driving growth of the haptic technology for mobile devices market is the increasing integration of haptics in smartphones and tablets. Leading smartphone manufacturers are integrating haptics technology to provide an immersive experience to users. For instance, Apple's Taptic Engine technology provides precise taps in iPhones to simulate button clicks. Android smartphone makers are also focusing on enhancing haptic experiences. Advances in haptics actuator designs for slimmer profiles and wider frequency ranges will further increase integration of the technology across mobile devices.
Segment Analysis
The haptic technology for mobile devices market is segmented by component into actuators, drivers & controllers, software, and others. Among these, the actuators segment held the largest market share in 2021 with nearly 43% of the total share. The dominance of this segment can be attributed to the rapid adoption of haptic actuators by mobile device manufacturers for integrating haptic feedback in touchscreen devices. Actuators help generate various haptic effects like tapping and vibration that enhance the user experience of mobile devices.
Key Takeaways
The Global Haptic Technology For Mobile Devices Market is expected to witness high growth, exhibiting a CAGR of 18.6% over the forecast period, due to increasing demand for sensory experiences in consumer electronics. The market size stood at US$ 2,670.0 Mn in 2021.
Regional analysis - North America dominated the market with around 35% revenue share in 2021 owing to significant investments by technology firms in R&D activities pertaining to haptic technologies in the US and Canada. Asia Pacific is expected to witness the fastest growth over the forecast period supported by the massive mobile device manufacturing base in China, Taiwan, and South Korea.
Key players - Key players operating in the haptic technology for mobile devices market are Immersion, Texas Instruments Incorporated, Precision Microdrives Limited, Johnson Electric Holdings Limited, AAC Technologies, Analog Devices, Inc., ALPS ALPINE CO., LTD., Microchip Technology Inc., Cypress Semiconductor Corporation, Methode Electronics, NIDEC COPAL ELECTRONICS, SMK ELECTRONICS CORPORATION U.S.A, Visteon Corporation, Semiconductor Components Industries, LLC, Synaptics Incorporated, Apple Inc., and SAMSUNG.
