Global Touch Screen Controllers Market - Segmented by Type (Capacitive, Resistive), Application (Smartphone and Tablet, Laptop and PC, Smart Wearables), End-User, and Region - Growth, Trends, and Forecast (2018 - 2023)
Touch Screen Controllers Market was worth USD 5.41 billion in 2017 and is projected to grow to USD 28.33 billion by 2023 at a CAGR of 31.78% during the period 2018 - 2023. The report discusses the various types of touch screen used and their application in various end-users. While the regions considered in the scope of the report include North America, Europe, and various others. The study also emphasizes on how an increase in the number of smart devices with touch screen technologies installed is changing the market scenario.
Touchscreen devices have grown tremendously in the recent past, with the technology integration in devices spanning across a wide range of industries. It has evolved to be an important source of input device layered on the top of an electronics visual display of an information processing system. Touch screen controllers are hence vital for proper functioning of the touchscreen display systems, as they are the integral part of touchscreen working displays, as they translate the information received by the touch sensor. The use of touchscreen displays has expanded beyond the smart devices and communication devices. Touchscreen displays are being used in automobiles to ease the utilization of multiple options present in the vehicles. Also, rapid rise in demand for devices that are integrated with touchscreen displays indicates a very bright future for the touchscreen controller market.
Increase in the Number of Smart Devices with Touch Screen Technologies Installed to Drive the Market
Smart devices comprise of devices integrated with touchscreen displays, which has access to the internet. The growing number of smartphones in the developing regions in Asia-Pacific and Latin America are expected to use the touchscreen display enabled smartphones. Moreover, the rate of smart phone usage has been growing ever since the turn of the century and has witnessed exponential growth to register over 1.26 billion shipments in 2016, globally. The number of smart phone shipments in 2021 is expected to reach a mammoth 1.7 billion units, according to a research.
Changing lifestyle of people and the growing spending power in of population in the region has increased the demand for touch screen smart devices, such as phones, tablets, wearables, and various others. Also, touchscreen displays have become a very integral part of the smart culture growing in the region and globally has led consumers and manufacturers prefer the integration of them in the equipment being operated. For instance, the number of mobile internet users in China rose by 28.3 million to reach 724 million at the end of the first half of 2017. Mobile internet users also accounted for 96.3% of internet users, up from 95.1% at the end of 2016. Moreover, the growing focus of manufacturers on the region regarding the design and specifications of the products according to the demographics is expected to bolster the smart device market in Asia-Pacific region.
The developing regions, in specific, have been experiencing a rapid rise in the internet penetration rate throughout. Developing nations, such as India, China, are witnessing the highest speed of internet penetration, which in turn, directly influences the growth of the smart devices market.
Resistive Touch Screens to Have the Highest Market Share
Features of resistive touch panels over the other types of existing, such as their ability to detect the touch of other items apart from the finger, to trigger a reaction from the device differentiates them from other panels. The pointing devices, such as stylus, pen, nail, and gloved fingers are other such pointing devices, which could be used to operate the touchscreen display systems installed in the devices. Another selling point associated with resistive touch panels is their lower cost, which has significantly improved the rates of integration in low-cost devices, thus, making them very affordable and appealing to the middle class population in the developing regions.
In addition to this, the rising prominence of connected car in the region, which comprises of touch screen displays for monitoring performances and various other function is further expected to drive the demand for touch screen controller
Key Developments in the Market