PUBLISHER: The Business Research Company | PRODUCT CODE: 1532086
PUBLISHER: The Business Research Company | PRODUCT CODE: 1532086
Surface haptics technology enables the creation of tactile sensations on flat surfaces such as screens or touchpads, enhancing user interaction. It uses vibrations, friction, or other methods to simulate textures or buttons, enhancing the user experience by making it more immersive and intuitive. This technology finds applications in gaming, virtual reality, and user interfaces, adding a new dimension to touch-based interactions.
The key components of surface haptics technology include actuators, sensors, electronics, and other elements. Actuators are devices that convert energy into motion to perform specific tasks in mechanical systems. These systems provide tactile, force, and haptic feedback, which are useful in various sectors such as consumer electronics, automotive, education, research, commercial industries, healthcare, and more.
The surface haptics technology research report is one of a series of new reports from The Business Research Company that provides surface haptics technology market statistics, including the surface haptics technology industry's global market size, regional shares, competitors with a surface haptics technology market share, detailed surface haptics technology market segments, market trends and opportunities, and any further data you may need to thrive in the surface haptics technology industry. This surface haptics technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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%. Historical growth can be credited to the increased implementation of industrial automation, greater integration of virtual reality and augmented reality across various sectors, expanded use of surface haptics technology, and broader 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 driven by a heightened demand for improved user experiences, increased smartphone penetration, greater adoption of touch-based devices, rapid expansion of the gaming market, and growing use of consumer electronics. Key trends anticipated in the forecast period include advancements in technology, immersive technologies, integration into smartphones and tablets, emergence of technological innovation hubs, incorporation with artificial intelligence, integration of tactile feedback into smaller devices, and innovation in tactile feedback design.
The increasing use of virtual reality (VR) and augmented reality (AR) is expected to drive the growth of the surface haptics technology market. VR immerses users in a fully digital environment, while AR overlays digital elements onto the real world, enhancing perception and interaction. The rising adoption of VR and AR is due to their immersive experiences that improve training, entertainment, and visualization, along with advancements in hardware affordability and software accessibility. Surface haptics technology enhances these immersive experiences by providing tactile feedback, making interactions more realistic and engaging, thereby boosting the adoption of these technologies. For instance, the UK's Department for Business and Trade projects that spending on AR and VR in the UK will increase by 78.3% to £62.5 billion by 2030, indicating significant investment opportunities. Consequently, the growing use of VR and AR is driving the growth of the surface haptics technology market.
Leading companies in the surface haptics technology market are focusing on developing advanced solutions, such as haptics control surfaces, to make haptics more accessible. A haptics control surface is a device that enables users to interact with digital content through tactile feedback. It typically consists of a touch-sensitive surface that responds to user input with physical sensations or vibrations. For example, in September 2023, Densitron Technologies Limited, a UK-based technology company, launched a new 2RU haptics control surface designed to enhance user experience and efficiency in various applications. This innovative control surface combines the tactile feedback of haptic technology with a compact and ergonomic design, making it suitable for a wide range of industries, including broadcast and live events. The 2RU haptics control surface aims to provide a seamless and intuitive interaction experience, allowing users to navigate and control complex systems with ease and precision. Its compact size and robust build are set to revolutionize user interaction with technology, offering a more immersive and engaging experience across various applications.
In September 2022, Meta Platforms Inc., a US-based technology company, acquired Lofelt GmbH for an undisclosed amount. Through this acquisition, Meta plans to expand its haptic technology expertise to enhance user interactions in VR and AR by integrating tactile feedback via controllers or gloves, thus strengthening its future haptics research. Lofelt GmbH is a Germany-based company that develops advanced haptic technologies for VR and other devices.
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., Boreas Technologies, Precision Microdrives Limited, Force Dimension, Novasentis, Tanvas Inc.
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.
The countries covered in the surface haptics technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Surface Haptics Technology Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on surface haptics technology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for surface haptics technology ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The surface haptics technology market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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