Haptic Technology for Mobile Devices Market Analysis | Coherent Market Insights

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HAPTIC TECHNOLOGY FOR MOBILE DEVICES MARKET
ANALYSIS

• Haptic Technology for Mobile Devices Market, by
  Type (Actuators, Drivers and Controllers,
  Software, and Others), by Application (Smart
  phones, Tablets, and Others), and by Region
  (North America, Europe, Asia Pacific, Latin
  America, Middle East, and Africa) - Size, Share,
  Outlook, and Opportunity Analysis, 2019 2027
• The global haptic technology for mobile devices
  market is expected to exhibit a CAGR of 18
  during the forecast period (2019-2027).

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Market Dynamics- Drivers

• Increasing adoption of haptic technology in
  consumer electronics is expected to drive growth
  of the global Haptic Technology for Mobile
  Devices Market during the forecast period 
• The increasing demand for consumer electronics
  is expected to drive demand for haptic technology
  for mobile devices. Nowadays haptic technology is
  the common feature in most of the smartphones and
  tablets. The increasing penetration of internet
  of things (IoT) in the emerging economies has
  driven growth of smartphones, tablets, and other
  mobile devices. For instance, according to
  Coherent Market Insights, in China, the
  penetration of smartphone increased from 676.5
  million in 2017 to 782.3 million in 2020. The
  main factor for rising demand for haptic
  technology is attributed to the rising number of
  smartphone manufacturers. Moreover, touch screen
  have become the most preferred interfaces for
  mobile devices. Furthermore, smart wearables such
  as smart watches are using haptic technology, in
  order to offer good consumer experience, across
  the globe is the factor that is expected to drive
  growth to the market.

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• Asia Pacific is expected to witness significant
  growth over the forecast period.
• This is attributed due to growing smart phone
  penetration and increasing usage of internet
  connected devices. For instance, according to
  Coherent Market Insights, in China, the
  penetration of smartphone as share of population
  increased from 66.3 in 2016 to 73.2 in 2022.
  Apart from Asia Pacific, North America is
  expected to account for the largest market share
  over the forecast period, owing to presence of
  key players in the region such as Texas
  Instruments Incorporated and Precision
  Microdrives Limited. For instance according to
  Coherent Market Insights report, the number of
  smart phone users in the U.S. increased from
  209.5 million in 2016 to 273.3 million in 2020. 

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• Among regions, Asia Pacific region held a
  dominant position in the global haptic technology
  for mobile devices market in 2019, accounting for
  29 share in terms of value, followed by North
  America and Europe, respectively.

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Market Restraints

• Consumption of huge power in haptic technology is
  expected to hamper growth of the global haptic
  technology for mobile devices market over the
  forecast period
• The power consumption and technical challenges
  related to designing of mobile devices are the
  major factors that are expected to restrain the
  market growth of haptic technology for mobile
  devices over the forecast period. Moreover, all
  the mobile devices that are enabled with haptic
  technology are battery-powered and thus more
  engineers and designers are concerned about the
  power consumption in the battery. Basically there
  are two types of haptic technologies which are
  used in the mobile devices such as basic haptic
  and HD haptic technologies. The devices which are
  made with basic haptic technology consume more
  power as compared to HD haptic technologies. When
  HD haptic technologies are used in mobile
  devices, then the consumption of power is higher
  than the basic haptic technology devices. These
  factors are expected to hinder demand for haptic
  technology for mobile devices and thereby
  expected to restrain the market growth over the
  forecast period.

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Market Opportunities

• Increasing demand for haptic technology in
  textile, automotive, and healthcare industries
  are expected to create lucrative growth
  opportunities for market players.
• The increasing demand for haptic technology in
  the textile industry due to integration of the
  new haptic technology, where people can feel the
  texture of the cloth by using internet. Recently
  a force jacket have was launched using haptic
  technology. This jacket include experiences of
  augmented reality and virtual reality, where a
  person can feel the haptic effects including hug
  and pinch on the body. This technology is used in
  gloves through virtual reality applications. For
  instance, when a person will use these gloves, it
  can monitor how the person is interacting with
  the real objects and how skin is stretching or
  contracting when person lift any object. These
  factors are expected to drive demand for haptic
  technology during the forecast period.

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• Moreover, haptic technology is adopted by the
  automotive manufacturers to provide more
  information to drivers about safety of the cars.
  Drivers will be able to feel the road and control
  the car systems using haptic sensors.
  Furthermore, cars are also getting enhanced to
  have understanding of their surrounding and react
  as par situation by sharing the information with
  driver through vibration. Currently this
  technology is utilized in seat and steering
  wheel. Steering wheels or seat can vibrate to
  inform driver, when lane change is happening
  without any indication. Thus, increase of haptic
  technology in automotive industry is expected to
  drive the market growth over the forecast period.
• Moreover, haptic technology finds its increasing
  application in healthcare. The trainee surgeons
  can perform virtual operation by using haptic
  technology. This process of conducting a virtual
  operation as a trainee minimizes the risk of
  harming a human life. Telepresence surgery is
  used in medical industry and haptic technology
  allow expert surgeons to operate patients from a
  distance and give the appearance of being present
  in the surgeries.  Haptic technology provides
  doctors with the feel of virtual patients by
  using virtual reality application in the medical
  field. This is expected to drive demand for
  haptic technology over the forecast period

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Competitive Section

• Key companies operating in the haptic technology
  for mobile devices market include 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.

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Key Developments

• Key companies are focusing on expanding product
  portfolio by product expansion/development
  strategies, in order to gain competitive edge in
  the market. For instance, in August 2017,
  Immersion expanded its agreement with LG
  Electronics Inc. In this agreement, LG
  Electronics provided with license to use
  Immersion TouchSense technologies for
  high-definition haptic in LG Electronics mobile
  devices including LGV 30 smartphone. This
  agreement will help these two companies to
  enhance LG mobile devices with haptic
  technologies.
• Key manufacturers are focusing on product
  launches, in order to enhance their product
  portfolio. For instance, in April 2013, Texas
  Instruments Incorporated launched DRV2605
  eccentric rotating mass actuator (ERM) and linear
  resonant actuator (LRA) haptic driver which add
  realistic tactile feedback effects to consumer
  and industrial products such as smartphones,
  tablets, eBooks, refrigerators, microwave ovens,
  and washing machines.

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