Touch Screen Panels Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Deepening penetration of smartphones and tablet PCs has majorly boosted the demand for touch screen panels. This has led to the rise of many new manufacturers of touch screens, which has driven up the competition in the market, which in turn has literally precipitated a price war.
The different touch-sensing technologies are projected capacitive, in-cell, resistive, and on-cell. Besides finding application in smartphones and tablet PCs, touch screens also are used in portable media players (PMPs), portable gaming devices, notebooks, personal navigation devices (PNDs), personal digital assistant (PDA), camcorders, e-book readers, digital signage, automotive, medical devices, wearable devices, and other consumer medical devices.
A challenge facing the touch screen panels market is problems associated with technical compatibilities of the touch screen panels when it comes to refresh rate, response time, and the consumption of power. To be able to refresh fast in a large screen, the touch screen panel has to cover a substantial surface area and collect data from all the intersections before processing it. The power consumption of a touch screen panel is another factor restricting faster fresh rates.
From a geographical perspective, Asia Pacific is the most attractive touch screen panels market that is poised to grow at a healthy clip in the near future. This is because of the nations of China and India accounting for a substantial sale of smartphones and also because of the numerous electronics manufacturing plants in Taiwan, China, and South Korea. Europe, North America, and Latin America are other key markets witnessing a steady uptick in demand.
With the escalating demand for smartphones and tablet PCs, the market for touch panels, especially capacitive touch panels, has gained significant growth. The industry is experiencing entry of several new players leading to a price war and this represents a concern for market participants. Further, with the introduction of Windows 8, there has been an increased focus on providing touch functionality on laptops and PCs and this represents an opportunity for growth in touch panels market. Various application segments of touch panels include smartphones, tablet PCs, portable gaming devices, personal navigation devices (PNDs), portable media players (PMPs), personal digital assistant (PDA), notebooks, e-book readers, digital signage, camcorders, automotive, medical devices and other consumer medical devices.
Various touch-sensing technologies include projected capacitive, resistive, in-cell, and on-cell. Depending upon the position of sensing layer, different categories of capacitive touch panels include cover window integrated touch, display integrated touch and add-ons. The end-users come from a wide range of industries such as consumer electronics, banking, automotive, healthcare, retail, industrial, and many others.
The global touch screen panels market is projected for robust growth rate during the forecast period of 2017 to 2025. This report is a comprehensive analysis of the market in its current scenario and presents figurate estimations of the opportunities available over the course of next nine years. The report touch screen panels market also profiles some of the key vendors currently operation, presenting their market share, product portfolio, and strategic developments.
According to a February 2016 report by Cisco, since the first camera mobile phone was introduced in 2000, the number of mobile users has escalated exponentially, and the figure is estimated to reach 5.5 billion by 2020, accounting for 70% of the global population. The demand from this vast population is the primary driver in the global touch screen panels market. The increasing application of touchscreens in wearable devices and automobiles is another factor positively favoring the market. In addition to it, another considerable opportunity in the future for the touch screen panels is the growing trends of touch screens in the educational and banking sectors as well as the Internet of Things (IoT).
Conversely, issues pertaining to technical compatibilities of the touch screen panels with regard to refresh rate, response time, and the power consumption is expected to hinder the growth rate. In order to maintain fast refresh rates in a large screens, the touch screen panel needs to sweep greater surface area and collect data from all the intersections before processing it. The power consumption of a touch screen panel is another factor restricting faster fresh rates.
Asia Pacific is currently the most lucrative and rapidly growing touch screen panels market driven by significantly high growth in smartphone sales and quick expansion of electronics manufacturing sector, especially in the regions including China, Taiwan and South Korea. North America, Europe and Latin America are also experiencing significant growth in demand.
Key Players in the global touch screen panels market include AU Optronics Corp., Cando Corp., Chunghwa Picture Tubes Ltd., DMC Co., Ltd., JTOUCH Corporation, Cermate Technologies, Inc., SPK Electronics Co., Ltd., Top-Touch Electronics Co., Ltd., Innolux Corporation, Shantou Goworld Display Co. Ltd., HannsTouch Solution Incorporated, and LG Innotek, Ltd. among others.
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Latest Trends and Cardinal Growth Prospects
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Ascensions in Technology
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The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
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