ID: MRFR/SEM/0395-HCR | February 2021 | Region: Global | 100 pages
Touch Sensor Market Overview
The Touch Sensor Market was valued at USD 4.5 billion in 2020, and it is expected to grow at a higher CAGR of 12.8% in the global market during the forecasted period to account for a higher market share value of approximately USD 8.4 billion by the end of the review period.
Owing to the increasing penetration of various electronic devices such as remote controls, tablets, control panels of various appliances in the automotive and industrial industry increase the demand for Touch Sensor Market. Moreover, this can be further categorized as acoustic pulse recognition touch sensors, optical imaging, infrared, surface acoustic wave, capacitive, and resistive. These touch sensors help in recording and detecting physical contact made between a user and an electronic device. It usually works after applying a little bit of pressure on the screen.
COVID 19 Analysis
The global pandemic of COVID 19 has affected a major chunk of the population. Many people have lost their livelihood because of this global pandemic. It has affected the dynamics and growth of several industries. Owing to the shortage of vaccines, everyone is concerned about their immunity and follows social distancing. During the lockdown situation, operational activities of various end-user industries were halted which resulted in a demand shrink for the touch sensor market which further leads to decreased sales revenue. The supply chain networks were also disrupted which lead to a decline in profit margin.
However, the touch sensor market is expected to recover from this global pandemic by the end of the third quarter of the coming year by properly strategizing according to the needs of the market.
Numerous factors drive the market growth rate. The capacitive touch sensors (one of the most used sensor) provides various benefits like better durability, longer product life, better optical qualities when compared with other sensor technologies drives the Touch Sensor Market demand in the global market. Moreover, increasing integration of smartphones and capacitive touch sensors drives the market demand during the review period. These are also used for detecting the change in capacitance by checking the presence of conductive objects on the sensor pad. Growing demand for consumer electronics devices is also a contributing growth factor.
The rise in demand for the touch sensor market in the global market. The increasing need to measure the flow, pressure, and level in various manufacturing industries especially in pharmaceutical industries and oil and gas industries provides various growth opportunities in the global market during the review period. Moreover, the use of sensors in control panels consumes less power, provides a user-friendly interface, and controls low and high voltage devices in various electrical appliances boost growth opportunities all across the globe. Increasing government initiatives for adopting advanced technologies also provide growth opportunities during the review period.
Though the touch sensor market is increasing tremendously in the global market, some factors restrict Touch Sensor Market growth. High costs associated with the touch display are not afforded by consumers living in underdeveloped countries which hampers the Touch Sensor Market demand in the global market. Moreover, high sensitivity is another factor that restricts Touch Sensor Market growth. Also, accidental touch may lead to leakage of confidential data is another restraining factor.
Value Chain Analysis
The touch sensors market is increasing at an incredible rate in the global market owing to various benefits associated with it. These sensor panels can be sealed which protects the electronic devices from dust and liquid spills. Additionally, it helps in enhancing the physical appearance of electronic or smart appliances. They are very convenient to use as it does not require any mechanical control or switch. Moreover, these are also known by the name tactile sensors and are used in public information displays, cellular headsets, home appliances, home entertainment devices, gaming controllers, and portable media devices.
The touch sensor market has been segregated all across the globe based on the type, application, and region.
Based on the Type
Based on the Application
Based on the Region
The touch sensor market has been divided all across the globe based on the region into North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and African region. The largest market share in the touch sensor market all across the globe is held by the North American region owing to the presence of several major key players like Microchip Technology, Atmel, Qualcomm Inc., Texas Instruments, ON Semiconductor, Honeywell, 3M, and others as well.
The second-largest market share in the touch sensor market all across the globe is held by the Asia-Pacific region owing to the increasing penetration of tablets and smartphones coupled with early technology adopters drives the market demand in this region. Also, an increase in per capita income is another contributing factor.
The third-largest market share in the touch sensor market all across the globe is held by the European region as it witnesses rapid growth during the review period. Moreover, increasing demand for smart grids and well-established technology infrastructure drives the market demand.
The least market share is held by the Latin American region and the Middle East and African region owing to the presence of low infrastructure in both these regions. Low per capita disposable income is another factor that restricts the market growth in these regions.
The most prominent major key players in the touch sensor market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the touch sensors market in the global market by going for mergers, and acquisitions, by collaborating, establishing a partnership, developing a new production process, setting up a new joint venture, developing a new product line, innovation in the existing product, and many others to expand their customer base in the untapped market of the touch sensors all across the globe.
This global touch sensor market research report consists of the following elements mentioned below:
This market research report contains factors that drive the growth of the touch sensors market in the global market along with the factors that restrict its growth in the global market. The opportunities available for growth during the forecasted period are mentioned. The impact of COVID 19 on the touch sensors market all across the globe is mentioned. The future growth rate in the touch sensors market during the forecasted period is estimated and mentioned.
Government bodies, universities and research organizations, technology standards associations, alliances, forums, and organizations, original equipment manufacturers (OEMs), technology providers, sensor manufacturers, consumer electronics manufacturers, electronics and semiconductor companies, chip designers, component manufacturers, and others.
|Market Size||USD 8.4 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||3M, Honeywell, Siemens, Infineon, On Semiconductor, Texas Instruments, Fujitsu, Atmel, Banpil Photonics, NXP Semiconductor, Qualcommm Inc., STMicroelectronics, Microchip technology, Zytronic PLC, Cypress Semiconductor Corporation, Azoteq, SHURTER, TouchSensors|
|Key Market Opportunities||Increased demand in industrial applications.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global touch sensors market is expected to record a substantial market valuation of up to USD 8.4 billion by 2023.
The global touch sensors market is projected to register a moderate 12.8% CAGR in the forecast period.
The optical imaging segment is slated to expand as the fastest-growing segment.
The consumer electronics deployment segment is expected to witness substantial growth.
A few major market players operating in the global touch sensors market are Zytronic PLC, Azoteq, SHURTER, Cypress Semiconductor Corporation, TouchSensors, among others.