June 23, 2024
Haptic Technology For Mobile Devices Market

Haptic Technology For Mobile Devices Market Is Driven By Rising Adoption Of Smartphones

Haptic technology enables users to feel and interact with digital devices through tactile feedback. As haptic actuators simulate touch by applying forces, vibrations, and motions to the user, they play a vital role in enhancing the user experience on touchscreen devices. Haptic technology helps users feel textures, vibrations, and motions triggered by in-game actions, UI notifications, gestures in VR/AR applications and more. Used in mobiles, tablets, gaming devices and wearables, haptic actuators add an intuitive dimension to touchscreen interactions.

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:

Increasing adoption of haptics in AR/VR is a key trend. VR and AR devices are being integrated with haptics to provide rich immersive experiences by allowing users to interact with virtual objects through touch. Haptic technology helps increase realism and presence in VR/AR environments. Advancements in haptics actuators design are also boosting adoption with micro-actuators replacing macro-actuators for compact integration. Multi-actuators systems are being adopted for directional haptics allowing feedback from various directions. Growing popularity of haptics-enabled mobile games is another trend. Game developers are incorporating haptics for realistic feedbacks from in-game actions like running, jumping and weapon recoil which heightens engagement.

Porter’s Analysis

Threat of new entrants: Low barrier to entry in terms of technology & capital required to offer basic haptic solutions. However, established players dominate distribution channels and customer relationships.

Bargaining power of buyers: Large firms have bargaining power due to their scale of operations and demand. However, small and medium buyers have limited influence due to restricted choice of products.

Bargaining power of suppliers: Few suppliers for actuator components increase their bargaining power. Established relationships between buyers and suppliers reduce the impact of high supplier power.

Threat of new substitutes: Non-haptic technologies can be used for similar applications but cannot effectively replicate touch feedback. Haptics offer unique value in terms of user experience.

Competitive rivalry: Intense competition amongst major players to gain market share and integrate advanced haptics into flagship devices. proprietary technologies create competitive edge.

Key Takeaways

The Global Haptic Technology For Mobile Devices Market Demand is expected to witness high growth. North America is expected to dominate the market owing to high demand for premium smartphones and strong tech infrastructure to support haptic adoption across industries.

Regional analysis: Asia Pacific is poised to be the fastest growing market during the forecast period due to rising disposable incomes, increasing millennial population and expanding smartphone user base in countries like China and India. Local players are focusing on cost-effective solutions to penetrate mid-range mobile device segments.

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. The major players are focusing on product innovation and partnerships to consolidate their position in the market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it