Surface Haptic Technology Market Statistics, Facts, Key Players and Forecast by 2027

Companies in the surface haptic technology market are tapping opportunities in retail and other domains, apart from consumer electronics and automobiles to expand their product portfolio. For instance, in June 2019, leading manufacturer of touchscreen monitors and displays Mimo Monitors, announced its collaboration with Tanvas, pioneers in surface haptics to launch the Mimo Vue with TanvasTouch at the InfoComm 2019 trade show.

Companies in the surface haptic technology market are integrating touchscreens with innovative surface haptics to develop programmable textures and feelings on flat and physical surfaces. Such displays are acquiring prominence in retail, digital signage, and conference rooms, among others. As such, the retail end-use industry segment of the surface haptic technology market is projected for exponential growth during the forecast period.

Manufacturers in the market for surface haptic technology are becoming aware that apart from sight and sound, the power of touch has promising opportunities for cultivating connection and creating immersion to build long-term brand affinity.

Computer-aided Design Software Enhances Driver Safety in Luxury Cars

Surface haptic technology is helping companies to enrich the relationship of humans with machines by adding a sense of touch. Likewise, companies in the market for surface haptic technology are leveraging opportunities in the automotive landscape to expand their business horizons. As such, the automotive end-use industry segment is estimated for significant growth during the forecast period and is projected to account for a share of ~36% of the surface haptic technology market by 2027. Hence, R&D companies are using computer-aided design (CAD) software to improve haptic technology and enhance driver safety.

Leading R&D companies are investing in CAD software to develop patented haptic processing units (HPUs). For instance, leading Paris-based R&D company Actronika uses Onshape-a computer-aided design software system, to connect HPUs with tiny vibrotactile motors and actuators to deploy high definition sensations. Companies in the surface haptic technology market are tapping opportunities in touch-sensitive technology for cars. For instance, popular luxury car Porsche Panamera is integrated with the haptic technology for its dashboard.

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Next-gen Innovations in Consumer Electronics Create Stable Revenue Streams

The ever-increasing consumer electronics industry is undergoing a change with surface haptic technology. As such, consumer electronics end-use industry segment of the surface haptic technology market is estimated grow at a significant rate during the forecast period. Hence, manufacturers are focusing on smartphones, since the domain of consumer electronics is anticipated for aggressive growth during the forecast period.

Moreover, introduction of new mobile phone technologies, with the help of surface haptic technology, is expected to fuel innovation in the global market landscape. For instance, Hap2U, a haptic technology company in France, announced that the company has received the Innovation Awards Honoree ahead of the 2020 Consumer Electronics Show (CES).

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Companies in the surface haptic technology market are participating in trade shows to strategically position their company on the global level. Thus, startups and emerging players should take insights from leading companies, since several consumer electronics companies showcase their next-gen innovations through trade shows.

Proliferation of Digital Environments in Electronic Devices Result in Innovative Materials

The surface haptic technology market is continuously growing with the presence of well-established players commanding a larger market share. Thus, emerging players are increasing efforts to innovate in material technologies for various haptics.

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Both leading and emerging players are increasing R&D to understand the characteristics of biological touch sensors in electronic display of video monitors and loudspeakers. However, certain pitfalls in haptic engineering, such as difficulty in understanding general purpose tactile displays in consumer electronics, pose as a challenge for companies in the market for surface haptic technology. Hence, companies are gaining expertise in new material technologies such as organic electronic materials and carbon nanomaterials to enhance the general purpose tactile displays in consumer electronics.