Touch Screen Display Market Projected to Close on US$ 121.1 Bn by 2027 – COVID19 Impact and Global Analysis by TMR
The global touch screen display market is experiencing extreme competition in the market, observes Transparency Market Research. The fierce competition is among some of the leading players in the market such as Samsung, Fujitsu, 3M, Panasonic Corp, and LG Electronics. The prominent players are also highly focusing on mergers and acquisitions that could help them to expand their business. Focus on research and development activities in increasing, as players want to use innovative technologies and develop new products. Emerging economies is also seen lucrative opportunity by the players due to the presence of cheap labor and high availability of raw materials.
Statistics presented by Transparency Market Research, the global touch screen display market is anticipated to reach a valuation of US$ 121.1 bn by the end of 2027 progressing from US$ 57.1 as estimated in 2018. Over the forecast tenure between 2019 and 2027, the global market is projected to expand at 8.90% CAGR.
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The application of touch screen display is high in retail kiosk as these screens are highly preferred as compared to other applications in this segment. The retail kiosk segment is expected to lead the market due to presence of multiple retail outlets spread across the globe. On regional front, North America held 35% market share in 2018. Over the forecast period, this region is expected to continue its dominance owing to the presence of key manufacturers in the region. On the other hand, Asia Pacific is also projected to be one of the key regions for the growth of this market due to increasing demand for touch screen display in this region.
Retail Sector to Play a Crucial Role in Fueling Demand for Touch Screen Display
Application of touch screen display is seen in retail kiosks, gas pumps, public transport kiosks, car wash centers, automated teller machines (ATMs), sports arenas, parking terminals, medical equipment, and trade shows and exhibitions. Thus, with the growing application the demand for touch screen display is expected to grow significantly in the coming years. Among these applications, retail kiosk to lead the market as large number of retail outlets use touch screen display across the globe. This has given a significant push to the market’s growth. Moreover, to increase customer engagement various retailers are also adopting these advanced technologies. Introduction of infrared touchscreen and gesture sensing is also expected to benefit the market growth.
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High Production Cost To Impede Market Growth
Despite the growing demand for touch screen display, few challenges are present in the market that could hamper the growth of this market. One of the major challenges is the limited availability of raw material. In addition, heavy competition and high cost of production may also lower down the prospects for growth in this market. However, operational ease and cost efficiency provided by these displays are projected to overcome these restraints in the coming years. Moreover, constant technological innovation that enhance the usability of these displays is helping in increasing the popularity of these displays. Thus, in the near future, the demand for touch screen displays are likely to increase at a significant rate.
The information presented in this review is based on a TMR report, titled “Touch Screen Display Market (Application – Gas Pumps, Automated Teller Machines (ATM), Retail Kiosks, Trade Shows and Exhibitions, Car Wash Centers, Parking Terminals, Sports Arenas, Public Transport Kiosks, and Medical Equipment) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 – 2027.”
Advances in Sensor Technologies to Boost User-Interfaces in Touch Screen Display Market
Touchscreen displays are highly interactive optical touch technologies. The technology is extensive used in smart displays such as TV screens, kiosks, smartphones, and smart signage. A key proposition for the growing popularity for touchscreen displays is the high interaction a user has with the system in viewing or obtaining the information or giving certain inputs. The growing use of optical touchscreen in the hospitality industry and for brand advertisement is one of the key trend propelling the sales in the touchscreen display market. Changing requirements of end-use industries have spurred the pace of technological advancements, notably in capacitive touch and sensor technologies. These advancements have focused on the precision of the input and scalability. The latter factor enables display manufacturers to large-sized manufacture touchscreen displays cost-effectively. Another area that is attracting attention of developers is circuit techniques, which has been a key aspect in developing high-resolution touchscreen displays. In particular, analog front-end (AFE) circuits are one of the contemporary technologies being explored by several electronic manufacturers in key regions such as in Asia Pacific. Researchers are also leaning on developing noise-immune circuits for thin displays, where pseudo-differential amplifiers have attracted attention.
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The COVID-19 pandemic has dramatically changed the consumer demands in several industries. The dynamic is also changing with respect to the investors’ focus on meeting the emerging demands. The growing shift toward the wide-scale adoption of digital i/o technologies in various consumer markets, such as in healthcare, has spurred interest of display manufacturers on developing interactive and user-friendly displays with high resolution. Demand for smartphones with high-end displays is also opening new avenues in the touchscree display market. Further, in the coming months, businesses in almost all industries will look to leverage display technologies for communicating with prospective consumers as an effort in brand promotion. Further, the emphasis of personalized brand communication is also a key market trend.
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Transparency Market Research
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