ID: MRFR/SEM/0395-CR | 100 Pages | Published By Shubham Munde on March 2023
Touch Sensor Market Size was valued at USD 5,368.5 million in 2021. The Touch Sensor market industry is projected to grow from USD 6,022.6 million in 2022 to USD 19,661.5 million by 2030, exhibiting a compound annual growth rate (CAGR) of 15.9% during the forecast period (2022 - 2030). Touch sensors are used in the control panels of various electrical appliances as they provide a user-friendly interface, consume less power, and control high and low voltage devices. It also provides consumers accessibility and a highly spontaneous interface. The growing adoption of smart devices and controls has contributed to the growth of touch sensors in the market. Touch sensors provide the designers with higher reliability and convenience, reducing system costs. Touch sensor control panels can also be sealed which makes them resistant to liquids spills and dust. Moreover, touch sensors also enhance the appearance of smart appliances by simplifying the construction and assembly. In this regard, the touch sensors are likely to register an increased demand in industrial applications, which is also expected to contribute to the growth of this market during the assessment period. Capacitive touch sensors and resistive touch sensors are widely used. The applications of touch sensors can be seen in gaming controllers, home entertainment, home appliances, cellular handsets, and portable media devices, among others.
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 Touch Sensor Market. Furthermore, the development of flexible displays is likely to support the growth of the Touch Sensor market during the forecast period.
FIGURE 1 TOUCH SENSOR MARKET 2018-2030
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
COVID-19 has had a significant impact on the fundamentals of the sector, including customer behaviour, business revenues, and a variety of corporate activities. Many businesses' future prospects are unknown, and some may fail as a result of the crisis. A range of recovery scenarios were possible, depending on future government actions and other difficult-to-predict situations. In the months following the coronavirus epidemic, semiconductor companies moved fast to protect personnel, secure supply chains, and address other critical concerns. Even though the situation remains critical, and many governments continue to impose physical-distance limitations, semiconductor executives were looking forward to the time when the pandemic subsides and the new normal begins. In anticipation of that moment, they are devising strategies for recreating and revamping their business models. Every aspect of the corporate model, including product portfolio composition, capital expenditures (capex), R&D strategy, demand estimates, supply-chain footprints, production decisions, and mergers and acquisitions alternatives, could change (M&A). However, with so much uncertainty in the future, semiconductor companies may struggle to make strategic decisions.
People across the world have been experimenting with new ways of working, studying, and interacting using videoconferencing and other technology in recent months. Such trends have the potential to have a long-term impact on semiconductor demand, as well as offer up new opportunities for existing products and services. As online collaboration expands, demand for semiconductors that enable servers, connection, and cloud usage may rise. Semiconductors may also be in high demand for products and services such as contactless solutions, such as touch screens and elevator buttons, ambient assisted-living devices, such as sensors, that allow elderly and chronically ill patients to stay in their homes rather than moving to facilities, digital work processes, and the Internet of Things, particularly in lagging sectors like healthcare. COVID-19 may, of course, reduce semiconductor consumption in a number of key sectors. Because of their lower earnings, some automakers have already begun to postpone investment in autonomous driving. This means that less money is available for R&D. The growing acceptance of the work-from-home norm, the rising focus of regional financial institutions on designing fiscal policies to keep the display market afloat during the COVID-19 crisis, shifting manufacturing units to less affected regions, and increasing demand for IoT are all factors driving the growth of the post-COVID-19 sensors market.
Touch and multi-touch displays are the most frequent ways of engaging with smartphones and tablets, which are currently the ultimate solution for mobile entertainment. Touch sensors are used in smartphones, tablets, laptops and other electronic devices which provide several options for creative interaction techniques and limits the use of mechanical buttons and switches and mechanical wear and tear. Therefore, growing demand for smartphones and tablets expected to drive the growth of touch sensors. The global smartphone industry has witnessed exceptional growth with the introduction of new technologies, designs, and features. For instance, according to Market Research Future’s Analysis, in 2023, over 6.5 billion people worldwide use smartphones and this number will grow rapidly in the near future. The development of new applications for smartphones is also driving the adoption of these devices, which, in turn, is driving the touch sensor market. The constant introduction of innovation in smartphones and their increased has encouraged the affordability have and fuelled the adoption to a remarkable degree. Smartphones are increasingly being equipped to handle high-end applications to allow video streaming, mobile gaming, and video conferencing for users and have opened opportunities for different business models for a wide range of industry verticals.
Growing bring your own device (BYOD) trend among enterprises, the demand for smartphones is also increasing across the commercial sector, which is driving the growth of the Touch Sensor Market. The increasing number of small and medium-sized enterprises, as a result of the growing start-up culture across developed and developing economies alike, has led to companies willing to adopt the bring your own device (BYOD) culture to eliminate or restrict the initial infrastructure expenses, which limit their early growth. Organizations require employees to interact with customers and co-workers. The rise in the productivity of the organizations has led to the increased adoption of BYOD across varied industry verticals. BYOD has gained immense popularity due to its ability to extend confidence and trust in the employee, leading to a highly dedicated workforce. Many people and organizations face restrictions regarding geographical borders and long-distance collaborations within the team, and BYOD conveniently manages to connect them and allows access to the required information the personal devices might include smartphones, personal computers, tablets, or USB drives. Here, the employees are bringing their devices with new fingerprint technology, so that everyone can have knowledge of every upgraded technology. The trend for 2020 are on impressive market growth, addressing security issues, bring your own enhancement (BYOE) in BYOD policy, new device marketing tricks, implementation of biometrics. Fingerprint scanning are becoming available on the majority of mobile devices. They are likely to turn into an integral security measure for the BYOD approach.
The Touch Sensor market segmentation, based on sensor type, includes 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. In multi-channel number of inputs are 3,9,16,25, etc. For instance, Ktron provide with TTP229 16 Channel Capacitive Touch Sensor Keypad Module. The TTP229 Chip is the foundation for the TTP229 16-Channel Capacitive Touch Sensor Module.
FIGURE 2 TOUCH SENSOR MARKET SIZE (USD MILLION) BY CHANNEL TYPE 2021 VS 2030
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
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.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America region. North America is the second dominant region in the touch sensor market.
The North American market for fingerprint sensors is expected to witness significant growth over the forecast period. The region includes the US, Canada, and Mexico. The region has a well-developed infrastructure and, therefore, can easily adopt technological advancements. Moreover, the influx of IoT and connected technologies have contributed to the growth of the touch sensors market in North America. In addition, the growth of this region can be attributed to factors such as increasing demand from various industries and a rise in disposable income. Furthermore, governments across various countries are focusing on promoting electronic products such as smartphones and tablets among others which will fuel product penetration during the forecasted timeframe. The US is the leading country in North America, accounting for the largest market share.
FIGURE 3 TOUCH SENSOR MARKET SIZE (USD MILLION) BY REGION 2021 VS 2030
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
The touch sensors market has witnessed significant growth over the forecast period due to proliferation of smartphones, tablets and other electronic devices and rising adoption of touch-enabled e-readers, interactive displays, and digital signage. There are several domestic, regional, and global players operating in the touch sensors market who continuously strive to gain a significant share of the overall market. During the study, MRFR has analyzed some of the major players in the touch sensors market who have contributed to the market growth. These 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 Others.
January 2022 Texas Instruments launched AWR2944 radar sensors, which have increased the ability to quickly detect objects, monitor blind spots, and efficiently navigate turns and corners by which automakers can realize their vision of a world without collisions.
October 2022 New service offerings and ancillary services can be purchased and unlocked thanks to IoT ecosystems and connected devices. However, once smart IoT systems are ready for deployment, prototyping sensor-based IoT use cases can become a resource-intensive process. Infineon Technologies has introduced the XENSIV connected sensor kit (CSK), a new IoT sensor platform for rapid prototyping and developing specialized IoT solutions, to assist hardware and software engineers in developing IoT devices.
November 2022 The flagship 6-axis inertial measurement unit (IMU) from ST, the LSM6DSV16X, integrates artificial intelligence (AI), adaptive-self-configuration (ASC), and sensor fusion low power (SFLP) technology for the best possible power optimization.
June 2020 A partnership has been formed between Bosch Sensortec and Qualcomm Technologies Inc. to create software for microelectromechanical systems (MEMS) sensing products.
Touch Sensor Regional Outlook
Middle East & Africa
|Market Size 2021||USD 5,368.5 Million|
|Market Size 2022||USD 6,022.6 Million|
|Market Size 2030||USD 19,661.5 Million|
|Compound Annual Growth Rate (CAGR)||15.9% (2022-2030)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Sensor Type, Channel Type, Installation Area, and End-use Vertical|
|Geographies Covered||North America, Europe, Asia Pacific, Middle East & Africa, and South America|
|Countries Covered||The U.S, Canada, Mexico, Germany, France, UK, China, Japan, India, Australia, South Korea, UAE, and Brazil|
|Key Companies Profiled||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|
|Key Market Opportunities||Rising Demand for Display Based HMI|
|Key Market Dynamics||Proliferation of smartphones, tablets, and other electronic devices Rising adoption of touch-enabled e-readers, interactive displays, and digital signage Rising Trend of BOYD|
The Touch Sensor Market size was prized at USD 5,368.5 million in 2021
The global market is projected to grow at a CAGR of 15.9% during the forecast period 2022-2030.
From 2022 to 2030, Asia Pacific has the potential to achieve the top position in the global market.
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