Demand for Touch Sensor Devices to Augment the Global Touch Sensor Market During the Forecast Period

Pune, India, March, 2023 /press release/- Market Research Future Published a Half-Cooked Research Report on Touch Sensor Market Research Report.

Global touch sensor market is projected to grow at a CAGR of 15.9% during the forecast period: MRFR

The touch sensor market is predicted to reach USD 19,661.5 million by 2030, registering a 15.9% CAGR during the forecast period, 2022–2030. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years. The growing popularity of Android phones and tablets has increased the demand for touch sensors. Furthermore, the increasing use of cloud computing and the proliferation of smart devices are pushing up demand for touch sensors across all industries. Increased efforts to create innovative technologies such as higher performance, higher resolution, lower power consumption, and lightweight touch displays are driving the global touch sensor market. Furthermore, the development of flexible displays is likely to support the growth of the touch sensor market during the forecast period.

Globally, technological advancement has reduced manual labour and increased the deployment of automation technologies. Touch sensors are used in hospitals, banks, office buildings, and government institutions to increase building security. Aside from that, the major manufacturers in touch sensors have included quality and durability into their new products. Because of the aforementioned considerations, demand for touch sensors in the global market has reached new levels. Computerization in workplaces and smart homes is expected to be tremendously beneficial to the worldwide touch sensors industry. Touch sensors are very inexpensive, which may have a favourable impact on product demand in the future.

Touch screen human machine interface is an excellent automation solution for a wide range of applications including automotive, digital signage, aerospace, retail, manufacturing and others. Touch-based applications are mostly utilized in industrial applications as monitoring devices, operator panels, industrial PCs, control panels and devices. Apart from its wide range of uses in industrial automation, the human machine interface has use in the commercial sector also.

Segmental Analysis

The scope of the global touch sensor market has been segmented based on Sensor Type, Channel Type, Installation Area, and End-use Vertical, and region.

Based on the Sensor Type, the global touch sensor market is segmented into Resistive, Capacitive, Surface acoustic wave (SAW), Infrared, and optical. During the projected period, the demand for capacitive sensor is expected to grow rapidly. Due to their improved sensitivity, longer lifespan, and higher measurement accuracy compared to inductive or resistive sensors, capacitive sensors are becoming more and more common.

By channel type segment of the touch sensor market has been segmented into multi-channel and single channel. During the projected period, the multi-channel segment is expected to rise rapidly.

Based on the installation area, the market has been segmented into smart phones & tablets, laptop, cars & aircraft solutions, elevators, ATMs, medical devices, panel control system, kiosk solutions, and others. During the projected period, the medical devices segment is expected to rise rapidly.

The end use verticals segment of the touch sensors market has been segmented into consumer electronics, automotive, aerospace, medical, factory automation, retail, and others.  The retail segment expected to experience significant growth.

Access full report @ https://www.marketresearchfuture.com/reports/touch-sensor-market-897

Regional Analysis

Geographically, the global touch sensor market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Asia-Pacific held the largest touch sensor market share in the worldwide market in 2021 and is expected to increase at a substantial rate during the forecast period. Long-term market expansion in the region has been aided by factors such as strong demand for smart phones, rising use of medical devices, and others. Such innovations may have a long-term impact on the Sensor market growth. APAC is regarded as the consumer electronics manufacturing hub. China is the world's largest manufacturer and exporter of consumer electronics items, generating potential for the expansion of the touch sensor market, which drives market growth.

The Asia-Pacific area is a big market for smartphones, owing to the region's rapidly increasing telecom sector and large client base. Furthermore, the region is investing more in mobile networks. Countries such as India, Japan, Australia, Singapore, and South Korea are investing more in building their domestic telecom markets, which are likely to drive the regional industry. The increased demand from developing countries in the region, such as India and Indonesia, where smartphones are increasingly accessing rural regions as local governments push for digital and mobile economies, is likely to drive demand for smartphones at entry-level price points. For instance, the Digital India program is a flagship program of the Government of India primarily aimed at transforming the country into a digitally empowered society. Moreover, India had also launched the PLI Scheme, which offered a 6-4% incentive for five years on incremental sales of manufactured handsets over 2019–2020. High-end multinational cell phone makers, or those producing handsets worth over USD 200, had to sell goods worth USD 4.9 million in the last financial year claim the incentives. Such initiatives by the government are expected to boost the smartphone market in the country. Rising smartphone adoption and the availability of 4G have resulted in a spike in mobile internet usage in mainland China, supporting the country's ascension up the digital-society value chain. More than 990 million people utilise mobile internet services, with an additional 200 million predicted by 2025. Thus, the rapid manufacturing of smartphone market in Asia-Pacific region drives the demand for touch sensors market.

Key Players

Some of the key players in the global market are STMicroelectronic, Texas Instruments Incorporated, Infineon Technologies AG, NXP Semiconductor, On Semiconductor, Honeywell International, Qualcomm, Abatek, Shin-Etsu Polymer Europe, Crystal Display Systems Ltd, Neonode Inc., Azoteq, Xymox Technologies, Inc., Mirohip Technology and Renesas.