Will smartphone demand impact the haptic technology market?

Smartphones mostly use haptic technology as they vibrate to send a feedback to users. With the help of vibration, smartphone screen can simulate the tactile feel of buttons while typing. Increasing adoption of haptic technology in the automobile industry could also play a crucial role in furthering product penetration.

Automakers are witnessing heavy demand for 3D touchscreen displays that provide improved driver communication and experience. Various automakers are integrating advanced infotainment systems that use haptic technology in their latest vehicle variants. Considering these aspects, Global Market Insights, has estimated that the haptic technology market might cross USD 10 billion by the year 2026.

Over the years, robots have managed to make their presence in the industrial, healthcare, and manufacturing sectors. Rapid expansion in the robotic industry could fuel the demand for haptic technology. Haptic solutions deliver precise control over robot’s positions for improved accuracy in sensitive manufacturing applications. 

Industry participants are introducing new and innovative haptic technologies for robots deployed in diverse environments. Citing an instance, earlier in March 2019, HaptX had designed a haptic telerobotic platform that allowed user to send out realistic touch feedback to anyone across the globe. Apart from robotics, haptic technology is also used in gaming consoles and consumer electronics.

The COVID-19 health crisis has dampened overall growth of haptic technology market in 2020 as the global economy suffer huge financial losses due to government-enforced lockdowns. Numerous countries have put a hold on consumer movement and have temporarily closed down distribution and manufacturing facilities to limit the spread of COVID-19. 

Analysts predict that this could affect the sales of automobiles and consumer electronics, in turn disrupting haptic technology industry growth. However, the market is projected to see steady growth from 2021 as the effects of the pandemic lessen.

Prominent industry players are working on forming strategic alliance with electronic manufacturers to integrate high-fidelity technologies into electronic devices like smartphones and smart wearables. Citing an instance, earlier in July 2018, SoftServe Inc. had collaborated with Ultrahaptics to develop advanced virtual touch technology that enables consumers to sense textures and shapes, without physically touching the object.