The global touch screen technology market is expected to witness a high growth on account of growing smartphone device consumption. The overall industry is projected to grow at an approximate CAGR of 6% from 2016 to 2024.
Touchscreen technology acts as an input device covering the electronic display of an information processing system. A user can give input for carrying out any task, with the help of a stylus or multiple fingers.
Most of the touch screens used in the current market work well with bare finger touch while some need specially coated gloves, stylus, and pen. Users can adjust the display with the help of touchscreen by zooming to increase the text size.
The global touch screen technology market is expected to observe significant growth over the forecast period owing to the increasing smartphone and tablet production. Scientific improvement has resulted in a significant shift from traditional large, slow, and inaccurate resistance technology based single touch to a high speed penetrating the multi-touch capacitive screen.
Processing units can receive input and output through the human-computer interface using touchscreen technology. Many applications across the industries make use of touchscreen in the day to day business.
This technology is widely employed in tablets, smartphones, personal computers, and laptops. Convenient usage, accessibility, and ergonomic features are the key factors driving the touch screen technology.
Constant development in touch display components coupled with new innovative and more feature based touch screen is expected to provide bright prospects for industry growth. The multi-touch display has resulted in a tremendous rise in global touch screen technology market share and helped manufacturers increase their profits.
The introduction of multi-touch sensitive and scratch fewer displays are the major innovations observed in the global industry. Customer experience has been enhanced on account of responsive interface and multi-tasking.
The introduction of new hardware technology is also expected to contribute significantly towards overall industry growth in the near future. Features including biometric scanning and gesture sensing make use of these display types for efficient functioning.
Diversified applications of these screen panels include products including computers, television, automobiles, ticketing system, gaming consoles, and DVD players are also expected to surge the global demand.
Recent trends have shown that electronic devices are loaded with panels through which users can send input for their usage. Some of the factors including exceptional photo quality, sleek design, and low energy consumption make them a popular interface in present electronic products.
The introduction of thin and slim glass has resulted in the growth of new products such as roll displays. Some manufacturers offer panels customization to give a personalized experience. In the recent years, educational institutions are making it compulsory for management as well as engineering studies to use e-books provided by them.
Such initiatives are expected to augment technology demand over the forecast period. The gaming industry has seen the revolution on account of the multi-control facility. Earlier gaming input signals were sent with the help of controllers.
This new interface has enhanced the speed & accuracy and therefore giving a lively gaming experience which in turn is expected to contribute significantly towards industry growth. Raw material availability is projected to restrain the global market demand over the forecast period.
Heavy competition and ever increasing cost of production are the major challenges faced by the manufacturers. Display heating on account of high-end phones’ inability to dissipate heat is expected to act as a barrier to overall industry growth.
The global touch screen technology market is segmented by screen types and applications. Different display types available in the industry are capacitive, resistive, infrared, and surface acoustic wave type.
Segmentation by Application includes smartphones, tablets & consumer electronics and professional use applications including professional applications including healthcare, retail, kiosks, education & government sectors.
North America dominates the global touch screen technology market and is expected to continue its leading position over the next few years. The industry is supposed to witness substantial growth mainly on account of high technology use, coupled with growing demand for superior picture quality and portable, wearable equipment.
Regional demand is followed by the Asia Pacific market and is expected to show a steep rise owing to increasing usage of smartphone devices. Emerging economies in the region including Japan, China, South Korea, and Vietnam are scheduled to provide significant market opportunities due to the presence of many electronic manufacturing companies.
European market demand is also projected to rise in future owing to the high-end applications in the education and government sector. Key players in the overall market include 3M Company, Corning Inc, Displax Interactive Systems, Atmel Corporation, Fujitsu Ltd, and Microsoft Corporation.
Other companies include LG Display, Cypress Semiconductor Corporation, Freescale Gigabyte, Samsung, Synaptics and, Wintek Corporation. Major players are focusing on new product introduction for better integration and efficient features.
Several manufacturers are also shifting their production units to developing countries on account of cheap labor and raw materials availability.
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