The Touchscreen Technology Market

by | Jul 21, 2021 | 0 comments

North America is leading the global touchscreen technology market, with the U.S. expected to increase its dominance through 2025.

The global touchscreen technology market is expected to witness a CAGR of 6.75% during the forecast period to reach revenue of $20.6 billion by 2025. It is likely to grow due to integration of intelligent features and digitization across various end-use industries.

The leading OEMs, tech start-ups, and other manufacturers are focusing research and development of touchscreen technology. Touchscreen providers are rapidly launching innovative products in response to the rapid rise in consumer demand. Moreover, the rise in innovative and product development in automotive and defense sector are anticipated to further increase the demand for touchscreen technology.

However, there are few challenges for the adoption of touchscreen technology, such as high production cost. Touchscreen sensors are complex structures and standard touchscreen designs typically use two-layer indium tin oxide (ITO) touchscreen sensors. The increase in number of layers resulted in a rise of production cost. The integration of single-layer sensors can decrease sensor costs by up to 50%. But from a performance standpoint, single-layer sensors feature lowered accuracy and limit the number of supported finger touches (usually one finger or two fingers only).

Touchscreen manufacturers are dependent on others who supply essential raw materials, such as optically flat glass sheets, polarizing films, flexible circuit connectors, display driver chips, and a host of other inputs. This dependency is challenging for touchscreen display module OEMs. To overcome this challenge, organizations within the industry are shifting their suppliers within the U.S. for seamless supply chain operations to meet their production orders. Hence, high cost of production and availability of raw material are the one of major factor which anticipated to hamper the growth of the touchscreen technology market during forecast period.

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North America region holds significant share in the global touchscreen technology market and is expected to have a significant growth during forecast period. The U.S. and Canada are major economies in this region that boosting the growth of touchscreen technology market. The growth for the market in the U.S. is due to the technological advancements and increased demand for consumer electronics. The U.S. market is expected to continue its leading position over the next few years.

The industry is likely to witness substantial growth owing to high technology use, coupled with growing demand for superior picture quality and portable, wearable devices and healthcare equipment. There is wider adoption of new touchscreen technology by OEMs across industries, such as consumer electronics, retail, industrial and automotive. The Asia Pacific region is expected to grow at a highest rate in the forecast period principally due to increasing demand for safety measures and adoption of digitization across the various end-use industries.

The global touchscreen technology market is consolidated. The key players utilize product differentiation, innovation, geographical expansion, collaborations, mergers and acquisitions, and diversification to capture the market and step up the ladder. The competitive rivalry is medium. The key players include Panasonic North America, Samsung Electronics, TSI Touch, Fujitsu, Cypress Semiconductor, and Synaptics among others.

 

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