Report ID: UCMIG45L2004 | Region: Global | Published Date: December, 2022 | Pages: 165Automatic Identification System Market
Report ID: SQSG45L2001 | Region: Global | Published Date: December, 2022 | Pages: 157
Global Touch Screen Display Market was valued at USD 29.5 billion in 2021, and it is expected to reach a value of USD 59.34 billion by 2028, at a CAGR of more than 10.5% over the forecast period (2022-2028).
A touch screen display helps the user to interact with the device using a finger or a stylus wherein the touch acts as the mode of input and the display provides the output for the commands given, these are of different types. The increase in the usage of touchscreen-based technology among the population is going to be the major factor that will influence the growth of the global touch screen display market. Growing technological developments and rising demand for more accessible user interface are anticipated to boost the touch screen display market during the forecast period. Additionally, features including superior picture quality, low power consumption, accessibility, the development of sleek models, and an increase in discretionary incomes are crucial factors propelling the growth of the touch screen display market.
The global touch screen display market faced a pitfall during the Covid-19 pandemic. This was due to the implementation of lockdown that resulted in the closing down of a large number of manufacturing units, resulting in a decline in production. The demand was not met hence the global touch screen display market faced a bit of stress during this period. Governments and key players in the market came up with safety regulations that helped in resuming the manufacturing units. Also, key players identified the right audience that needed to be targeted, which helped surge the sales of touch screen devices and is expected to boost market growth in the years to come.
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Global touch screen display market is segmented based on the screen type, application, and region. Based on the screen type, the global touch screen display market is segmented as capacitive touch screens, resistive touch screens, surface acoustic wave type displays, infrared touch screens, others (projected capacitive, etc.). Based on application, the global touch screen display market is segmented as personal use and professional use. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Screen Type
In 2021, the capacitive touchscreen segment held the largest share in the global touch screen display market, owing to rising demand for multi-touch feature in devices. The multi-touch feature provides users with ease of operation, and users can use different points of contact on the screen as per their convenience.
The resistive touchscreen segment also held a significant share of the global touch screen display market. This is because of its ease of operation and the point that it can be operated with the help of a stylus as well. Unlike capacitive touchscreen, these do not support multi-touch features, which is why capacitive touchscreen continues to enjoy its supermacy.
Analysis by Application
In 2021, the personal use segment held the largest share in the global touch screen display market, attributed to the growing usage of smartphones and tablets in households for entertainment purposes during the pandemic. Owing to ease of operation, people are rapidly purchasing mobile phones and using them for various purposes, including calling, shopping, education, etc.
The professional use segment saw a tiny fall during the beginning of the pandemic as the offices were shut down. There was no reason for the purchase of touchscreen devices for professional purposes. Since the lockdown has been lifted and with the implementation of work from home and the hybrid model of working, the demand for touch screen devices for professional use is also increasing and will continue to do so during the forecast period, thus boosting the growth of the global touch screen display market.
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In 2021, the Asia-Pacific region held the largest share in the global touch screen display market. Growing technological advancements and rising appeal of the these devices are boosting the demand for touch screen mobiles in the region. Furthermore, observing this trend in the Asia-Pacific region, a large number of players have emerged in this region, which is expected to increase the demand for touch screen devices in the region and bolster market growth during the forecast period.
The North America region is also experiencing a decent share of the global touch screen display market. Continuous research and development and growing health concerns motivating people to buy smart wearables that are helpful in monitoring their vitals are driving touch screen display market growth in North America. Furthermore, the European region is also experiencing a decent hike in the global touch screen display market, due to the increase in employment in the region resulting in increase in the purchasing power of the users.
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The global touch screen display market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. The creation of new products is a top priority for major players in order to provide more useful features and incorporate cutting-edge technology into touch displays. In order to get labour and raw materials more cheaply, several OEMs seek to expand their companies throughout developing economies by moving their production facilities to Asian and African nations.
Top Player in the Global Touch Screen Display Market
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global touch screen display market analysis, in terms of screen type, the capacitive screen held the largest market share in 2021, owing to the multi-touch features, which are widely popular in today’s era. Further, in the application segment, personal use held the largest share in the global touch screen display market, due to the rise in the use of mobile phones and smart wearables by a large section of the population. And by region, the Asia-Pacific region held the largest market share owing to the emergence of new players due to high demand in the region.
|Market size value in 2021||USD 29.5 billion|
|Market size value in 2028||USD 59.34 billion|
|Growth Rate||more than 10.5%|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Touch Screen Display Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Touch Screen Display Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG45L2001