The haptic technology market is expected to reach $6.96 billion by 2032, enabling the creation of realistic touch experiences in devices

SNS Insider’s report on the haptic technology market is estimated at $3.44 billion in 2023 and is expected to reach $6.96 billion by 2032

Pune, July 5, 2024 (GLOBE NEWSWIRE) – Haptic Technology Market is evolving in line with the growing need for total immersion in consumer electronics. Haptic technology is gradually being built into mobile phones, tablets, video game consoles, and VR/AR glasses to provide users with a more intense and engaging experience. Haptic technology is rapidly being applied to automotive manufacturing to provide drivers with input via steering wheels, pedals, and other instruments.

Download a sample report Touch technology Market @ https://www.snsinsider.com/sample-request/4239

Key players mentioned in the report:

• Immersion Corporation (USA)

• 3D Systems (USA)

• Jahwa Electronics (South Korea)

• Renesas Electronics Corporation (Japan)

• Texas Instruments (USA)

• D-Box Technologies (Canada)

• AAC Technologies (China)

• Johnson Electric (China)

• Microprocessor Technology (USA)

• TDK Corporation (Japan)

• Awinic (China)

Meta licenses new haptic technology

Meta’s new haptic technology licensing agreement with Immersion Corporation is reigniting the conversation about touch in virtual and augmented reality (XR). Despite the slow growth of the haptic hardware industry, the development points to a possible revival. Immersion, a leading provider of haptic technology patents, is providing haptic feedback solutions for XR devices. The technology has the potential to significantly improve immersion by allowing users to physically experience virtual objects and textures, resulting in improved training simulations and a more immersive overall user experience. The agreement points to a resurgence of interest in Meta’s haptics. While large companies have prioritized artificial intelligence (AI) and spatial computing, interest in haptics has waned across the industry despite advances by companies like HaptX and Senseglove. Nevertheless, Meta’s continued involvement in Reality Labs, which includes the recent purchase of haptics startup Lofelt in 2022indicates that haptic research is still ongoing in the background. What’s more, the initial quarterly profit reported by Reality Labs could allow them to allocate resources to invest in upcoming XR technologies, such as Immersion haptics. While Meta’s specific intentions are not yet known, the licensing agreement suggests a potential move toward emphasizing touch in the Metaverse, potentially resulting in a more authentic and immersive user experience in the future.

The story continues

VR Gloves in 2024: Return to the Enterprise Metaverse

Although VR gloves have not been very popular among consumers, they are now attracting attention in the corporate sector. As VR becomes more popular in education, product development, and collaboration, VR gloves equipped with haptic technology are becoming increasingly important. VR gloves are wearable devices that enhance VR immersion by detecting the position of the hand and providing sensory feedback. Different gloves offer a variety of information modalities, such as force feedback for object size and density, and vibrotactile stimulation for texturing. These features allow users to physically feel virtual objects, enhancing their interactions in numerous applications.

Touch technology Market Scope and Overview of the Report

Do you need adaptation research? Touch technology Market, talk to our analyst @ https://www.snsinsider.com/enquiry/4239

New haptic technology improves communication with digital interfaces

In a world that increasingly relies on digital interfaces, the sense of touch is becoming a forgotten form of communication. Technological advances in haptics, which create realistic tactile sensations on devices, are starting to be seen as a solution to bridge this gap. A market that is set to hit in the coming years, is poised to significantly expand beyond its current strong position in the mobile market (used by 85% of the world’s population). Developers are moving away from vibration technology towards more complex feedback systems to meet the demands of different sectors. Until 2023The automotive sector is expected to be most excited about the adoption of haptic technology, enhancing the driving experience with more intuitive and informative touch. This focus on touch has the potential to transform the way we engage with digital technologies, supporting more authentic and engaging connections in an increasingly digital society.

Segment analysis

Hardware holds 50% market share in the haptic technology industry, driven by components such as controllers and microcontrollers. This is largely due to the widespread use of haptics in mobile phones, game controllers, and VR headsets. However, software is gradually becoming recognized as a rising star. As haptics continues to evolve beyond basic vibrations, the software that powers it becomes increasingly important for understanding user input, creating complex feedback patterns, and delivering enjoyable user experiences. In addition, the growing need for customization and seamless integration of different hardware components requires more advanced software. This trend points to a future where hardware is the foundation and technology holds the spell.

Regional analysis

Asia and Pacific dominates over haptic technology market with a stunning 45% shares. This supremacy stems from their insatiable thirst for consumer electronics. China, Japan, and South Korea are leading the way, buying smartphones, tablets, and wearables with all the bells and whistles, including haptics. In addition to hardware, the region is also focusing on haptics and acoustics, which enable immersive experiences in games and other applications, fueling market growth. Even the gaming industry is undergoing a haptic transformation, investing in systems that provide accurate haptic feedback for an immersive experience. And let’s not forget the growing wearables sector, where smartwatches and fitness trackers with haptic feedback are becoming increasingly popular.

20% The haptic technology market is represented by North America smartphone enthusiasts. The majority of consumers already own touch-enabled devices, providing a solid foundation for potential expansion. As touch technology advances, North American consumers are expected to rapidly transition to phones with the latest touch capabilities. This trend underscores the growing importance of haptics across industries. Haptics enhances the human-computer interface, creating more natural and realistic experiences, from immersive virtual reality to improved car dashboards. This is being driven by efforts such as TITAN Haptics last program, designed to support startups and innovators by accelerating the production of haptic technology. Due to growing acceptance and continuous advances, haptics is on the verge of revolutionizing our interactions.

Key conclusions

• Understanding the growing demand and different applications of haptics allows you to find potential customers for what you do. Whether you produce haptic hardware, software, or other related services, this analysis will help you reach the right audience.

• Understanding current haptic trends, such as the shift to desktop and consumer personalization, can help you change your product development strategy. This ensures that your goods and services meet changing market requirements.

• Keeping up with haptic developments allows you to find potential areas of innovation. This knowledge can help you create separate selling propositions to give yourself a clear advantage in the market.

Buy PDF Enterprise User Version Touch technology Market Outlook Report 2024-2031@ https://www.snsinsider.com/checkout/4239

Table of Contents – Key Points

1. Introduction

2. Industry Flow Chart

3. Research methodology

4. Market dynamics

4.1 Drivers

4.2 Limitations

4.3 Possibilities

4.4 Challenges

5. Porter’s 5 Forces Model

6. Pest Analysis

7. Haptic technology market segmentation by components

8. Haptic technology market segmentation by application

9. Regional analysis

10. Company profiles

11. Competitive Landscape

12. Use Case and Best Practices

13. Conclusions

Access full report details @ https://www.snsinsider.com/reports/haptic-technology-market-4239

About SNS Insider

At SNS Insider, we believe that businesses should have access to the best market intelligence and insights, regardless of their size or industry. That’s why we offer a range of solutions tailored to the unique needs of each client, from startups to large corporations. With a passion for our work and an unwavering commitment to delivering value, we are dedicated to helping our clients reach their full potential.

CONTACT: Contact Us: Akash Anand – Head of Business Development & Strategy [email protected] Phone: +1-415-230-0044 (US)