by Haptic technology enables real-time tactile feedback, allowing users to experience touch-based interactions in virtual environments through vibrations, motions or forces. It is increasingly being adopted in wearable devices, VR controllers and mobile devices like smartphones and tablets. Haptic motors in mobile devices provide touch feedback and realism via vibration to enhance the user experience of playing games, browsing the web or using various apps.
The global Haptic Technology for Mobile Devices Market is estimated to be valued at US$ 3755.61 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing popularity of virtual reality and augmented reality experiences among consumers is a key trend fueling innovations in haptic technology for mobile devices. Advanced haptics allows users to truly feel and interact with virtual objects via sophisticated vibrations, motions and touch sensations. This makes VR and AR experiences more realistic and immersive. Leading technology companies are actively investing in R&D to develop new and improved haptic actuators, sensors and algorithms for integration in mobile VR controllers and AR wearables. As high-fidelity haptics become more widely adopted in consumer electronics, the demand for haptic motors, actuators and supporting electronics is expected to surge in the coming years.
SWOT Analysis
Strength: Haptic technology enables more intuitive and immersive user experiences through touch interactions on mobile devices. This enhances user engagement with applications and content.
Weakness: High costs associated with development and integration of haptic systems into mobile devices. Limited battery life can also be a constraint.
Opportunity: Growing demand for enhanced immersive experiences in applications across gaming, productivity, education, healthcare, etc. Increased R&D towards miniaturization of haptic components opens new opportunities.
Threats: Stiff competition among technology giants to dominate the market. Vulnerability to technological obsolescence risks losing customers to newer and improved solutions.
Key Takeaways
The Global Haptic Technology For Mobile Devices Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Asia Pacific is projected to be the fastest growing as well as the dominating regional market owing to the large production and adoption of smartphones and other mobile devices in countries like China, India, and South Korea.
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. These players are focusing on new product developments and innovations to integrate enhanced haptics in their mobile devices and stay ahead of the competition.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
