The global touch sensor market is presumed to exhibit a remarkable CAGR during the forecast period (2016-2027) owing to the growing demand for touch sensor devices, asserts Market Research Future (MRFR). Touch sensors detect the presence of close objects or touch without relying on physical contact. It is more reliable and convenient to use as it does not comprise any moving parts like a potentiometer or a mechanical switch. Touch sensor is one of the important components used in touchscreen along with a software driver and a controller integrated circuit.
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.
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Drivers and Restraints Impacting the Market
The increasing demand for touch-sensor devices drives the touch sensor market. With the growing digital technology, increasing use of touch-enabled displays, and increasing demand for tablets and smartphones, the market is anticipated to augment during the assessment period. Moreover, its simple user interface and low response time enable its use in devices where space is at a premium. Thus, designer has greater freedom for designing at a reduced system cost. Touch sensor is completely sealable and creates a device that is resistant to dust and water spills to a large extent. Such factors are likely to stimulate the market growth during the review period. Moreover, the rising adoption of touch-enabled devices in hospitality, retail, education, and healthcare is expected to inhibit the market growth.
On the flip side, high power consumption and high production cost associated with touch sensors are anticipated to retard the market growth in the coming years.
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Some of the major players in Global Touch Sensors Market
include 3M, Honeywell, Infineon, ON semiconductor, Texas instruments, Atmel, Siemens, Fujitsu, Bean air and Banpil photonics among others.
Global Touch Sensor Market: Segmental Analysis
The global touch sensor market has been segmented on the basis of type, application, and region.
By mode of type, the global touch sensor market has been segmented into touchpads which have been further sub-segmented into linear or rotational sliders, rotary wheels, and others.
By mode of application, the global touch sensor market has been segmented into portable media devices, cellular handsets, gaming controllers, home entertainment and appliances, and others. Among these, the cellular handsets dominate the global market and account for the maximum market share during the assessment period. Growing popularity of phablets along with timely launch of upgraded smartphones are driving the global market during the review period.
Geographically, the touch sensors market span across regions namely, Asia Pacific, Europe, North America, and Rest-of-the-World (RoW).
Among all the regions, Asia Pacific is estimated to dominate the global touch sensor market with the largest market share owing to the extensive availability of low-cost tablets and smartphones. Also, emerging trend of using digital technology in countries such as India and China are likely to foster the market growth in this region.
North America is anticipated to be a highly attractive region for touch sensor due to the presence of consumer electronics manufacturers in this region.
February 2018: Apple Inc. has recently invented an advanced Apple pencil which can work with non-touch surfaces and supports 3D and AR editing applications. The advanced Apple Pencil design allows working with an iMac or MacBook by writing or drawing on the surface of an office desk or any other surfaces.
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR’s methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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