Haptic Technology for Mobile Devices Market Is Estimated To Witness High Growth Owing To Rising Consumer Penetration And Advancements In Haptic Feedback
The Haptic Technology For Mobile Devices Market is estimated to be valued at US$ 2,670.0 Mn in 2023 and is expected to exhibit a CAGR of 18.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Haptic technology refers to the tactile feedback in mobile devices. It enables devices to recreate tactile sensations and textures that simulate control and response similar to physical interactions. Haptic technology provides realistic feedback by applying forces, vibrations, or motions to the user. This enhances user experience while interacting with interfaces in mobile devices.
Market Dynamics:
The growth of the haptic technology for mobile devices market is majorly driven by rising consumer penetration of smartphones and advancements in haptic feedback. As of 2023, over 6 billion people worldwide own a smartphone. With rising disposable income, consumers are willing to pay premium for enhanced tactile experiences like haptic feedback in smartphones. Additionally, advancements in haptic actuators, digital signal processors, and controller ICs are enabling more immersive haptic experiences like simulated textures and sensations of weight, inertia, friction, and collisions. Leading manufacturers are focusing on enhancing gestures, clicks, vibrations, and other tactile effects to optimize the overall experience. This is expected to fuel the demand for haptic technology over the forecast period.
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