South Korea Haptic Technology Market Insights Forecasts to 2033

• The Market is Growing at a CAGR of 5.1% from 2023 to 2033
• The South Korea Haptic Technology Market Size is Expected to Hold a Significant Share by 2033

The South Korea Haptic Technology Market is Anticipated to Hold a Significant Share by 2033, growing at a CAGR of 5.1% from 2023 to 2033.

Market Overview

Haptic technology, haptic feedback, or haptics generally is the new engineering technology that combines the sense of touch or feedback to develop a user interface through vibrations, motion, and other forms of tactile feedback. This technology is expected to grow extensively with increased demand from touchable haptic products such as touch-enabled smartphones, wireless portable game devices, and other consumer electronics. Haptic technology has a significant application in graspable, touchable, and wearable products to enhance user experience. Haptic technology has an intense application across automotive transportation, consumer electronics, information, and communication technology. Also, there is a heavy demand for haptic feedback systems for gaming consoles, medical & healthcare, and other engineering research. Major factors that are bringing growth to the haptic technology industry are mainly on increasing integration of haptic technology into consumer devices, the high use of haptic technology in the automotive industry, and the increasing use of haptics in the healthcare industry.

Report Coverage

This research report categorizes the market for South Korea haptic technology market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea haptic technology market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the South Korea haptic technology market.

Driving Factors

The market of consumer gadgets adding to the sense, efficiency, and touch sensitivity of the touchscreen is gaining its takers in haptic technology. The increased usage of wearables, smartphones, tablets, smart home technologies, and virtual reality hardware where devices require making a strong touch for their usage, is what makes this market jump out so significantly. In addition, mobile phones make use of haptic technology and can also provide tactile feedback using forces, vibrations, or motions since so much glamour is given to the device by effectively bridging the digital and physical realms. Growing demand for smart phones hastens the growth in the haptic technology market.

Restraining Factors

High actuator and motor costs due to small dimensions and high output are expected to push the cost of the electroacoustic components, which increases the final product's cost. This innovation led to the increase in the component's price to curtail demand for haptics short term.

Market Segment

The South Korea haptic technology market share is classified into product type and application.

• The touchable segment is expected to hold the largest market share through the forecast period.

The South Korea haptic technology market is segmented by product type into graspable, touchable, and wearable. Among these, the touchable segment is expected to hold the largest market share through the forecast period. Long-term demand for automotive touch infotainment systems is being fueled by rising demand for touch smartphones for gaming haptics and movie streaming, resulting in increased demand for haptics.

• The automotive transportation segment is expected to hold the largest market share through the forecast period.

The South Korea haptic technology market is segmented by application into information & communication, automotive transportation, gaming & console, consumer electronics, medical & healthcare, and others. Among these, the automotive transportation segment is expected to hold the largest market share through the forecast period. Also, the latest car seating inventions that are developed within the automobile, enhance its user experience. Further, enriching the user interaction by engaging haptics with the car infotainment is further pushing the demand through its door.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea haptic technology market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Immersion Corporation
• 3D Systems
• Jahwa Electronics
• Renesas Electronics Corporation
• Texas Instruments (U.S.)
• D-Box Technologies
• AAC Technologies
• Johnson Electric
• Microchip Technology
• TDK Corporation
• Awinic
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the South Korea haptic technology market based on the below-mentioned segments

South Korea Haptic Technology Market, By Product Type

• Graspable
• Touchable
• Wearable

South Korea Haptic Technology Market, By Application

• Information & Communication
• Automotive Transportation
• Gaming & Console
• Consumer Electronics
• Medical & Healthcare
• Others