Haptic Motors Market Research Report - Forecast to 2025
According to trusted estimates, global haptic motors market is expected to witness prominent gains during 2020-2025. Rising demand for haptic sensors and actuators from consumer electronics industry with a key focus on enhancing the user experience offered by their products is driving the market growth. Increasing replacement of traditional user interface with touch screen across various product categories including laptop, desktop, microwave, refrigerator, and gaming device is favoring the industry outlook. Integration of virtual confirmation functionality in application areas such ADAS and navigation to ensure safety and convey information in an effective way, is further augmenting the market growth.
Implementation of haptic technology for visually impaired especially across the education sector, along with rising adoption of tele-haptics is positively impacting the market landscape. Furthermore, use of haptic motors in augmented reality (AR), virtual reality (VR), and medical applications will present new growth opportunities over the forecast timeline.
However, high switching cost of haptic technology is a concern among many companies. Power consumption is another major drawback restraining technology adoption in various smartphones and electronic devices, hence limiting market returns.
As per the type, eccentric rotating mass (ERM) actuator segment is anticipated to record substantial growth during the forecast period. An ERM actuator is similar to conventional DC motor and uses the magnetic field from an electrical current to drive an object in a circle, wherein the rotating mass is off-centered. On account of its simple design, ERM actuator is widely used in smartphones, pagers, automotive dashboards, and industrial equipment. This factor coupled with its low manufacturing cost is supporting the segment growth.
Speaking of the application spectrum, the demand for haptic motors from automotive sector is anticipated to escalate, owing to growing electrification and modernization of vehicles with touch-based dashboards and infotainment systems. Growing consumer inclination towards premium features across a varied range of vehicles is encouraging the automotive manufacturers to integrate haptic technology in automobile.
Considering the geographical landscape, United States, Canada, Mexico, France, Italy, Germany, United Kingdom, Russia, India, China, Japan, Korea, Australia, Malaysia, Philippines, Indonesia, Thailand, Vietnam, Singapore, Brazil, Argentina, Saudi Arabia, Egypt, Turkey, and South Africa are the main regions garnering returns for global haptic motors market.
Asia Pacific is slated to hold a significant share of global haptic motors market by the end of 2025. Booming automotive sector alongside increasing sales of consumer electronics such as tablets, smartphones, and wearable devices are the fueling the demand for haptic motors in APAC. Low manufacturing costs of electronics and large workforce in the region are supporting the business scenario. Growing availability of cheaper electronic products is another major factor benefitting the regional industry.
Prominent players of global haptic motors market are AAC Technologies, Jinlong Machinery & Electronics, TDK, Nidec Corp., MPlus Co. Ltd., Texas Instruments, Johnson Electric, PI Ceramic, Bluecom, Precision Microdrives, Jahwa, and Novasentis.