Here are some insights from a recent report about the haptic industry and the commercialisation of virtual reality (VR).
Haptic technologies are features that enhance the user experience in many familiar products. Whether as notification provision in a vibrating smartphone, tension building in a video game controller, or input confirmation in an industrial scanner, haptics technologies are in billions of electronics devices.
The new report from IDTechEx Research, Haptics 2017-2027: Technologies, Markets and Players, suggests that the haptics industry will be worth 2.8 billion dollars by 2027.
After the huge success that saw haptic actuators adopted in products like smartphones, the industry then suffered increasing commoditisation, high levels of competition and shrinking margins. The eccentric rotating mass (ERM) motor dominated for many years, and it is only recently that linear resonant actuators (LRAs) have taken significant amounts of market share, enabling some fresh growth. Even this change has not significantly shifted the haptics hardware landscape, as similar players tend to control market share around both types of actuator.
The entry barriers for players with new haptics technologies have also been high. Whilst companies large and small used new technologies to provide new sensations, form factors or ideas, few came close to upsetting the status quo.