The Global Touch Screen Display Market is anticipated to reach USD 50.9 billion by 2028, expanding at a CAGR of 8.5% during the forecast period, 2021-2028. The growth of the market is attributed to increasing proliferation of consumer electronics such as smartphones, tablets, and laptops.
The touch screen technology is used for human-computer interaction to provide input and obtain desired output from the processing unit. Touch screen technology is used in gadgets such as smartphones, tablets, laptop and personal computers. Displays have witnessed a transition from being heavy and space-consuming devices to slim gadgets. Furthermore, they offer much high resolutions, better contrast ratios, and consume less power than traditional display devices.
Market Drivers, Restraints, Trends, and Opportunities
- Rapid popularization, ease of use, and increasing consumer spending are the prime factors driving the market growth.
- The development of scratch resistant and multi-touch screen displays are the recent trends in the global touch screen display market.
- Advancement in hardware technology such as improvement in the touch screen display material is expected to enhance the end-user experience. Thus, the increasing advancement is anticipated to stimulate the market growth.
- Introduction of gesture sensing and infrared touchscreen technology are the recent technological development in this sector. Furthermore, increasing penetration of ultra-slim glass, force-sensing touch technology, waveguide technology, and customization of touchscreen to enhance the user experience are speculated to boost the market growth.
- Increasing number of e-book readers is expected to propel the demand for touch screen displays in the foreseeable future.
- Increasing cost of production is restraining the market growth. Moreover, rising competition is expected to decline the market profitability in the coming years.
- Inability of heat dissipation results in display heating in tablets and smartphones, which can pose a threat to the market growth.
- Artificial Intelligence (AI)-based touch screen devices can easily translate data from one language into other languages. Thus, integration of advanced technologies can provide huge opportunities to the market.
Global Touch Screen Display Market Segment Insights
Based on products, the market is segmented into monitors, signage displays, POS terminals, open frame touchscreen displays, and medical displays. Products such as monitors and signage displays are in demand owing to the declining prices of displays and touchscreen panels. This, in turn, is anticipated to propel the growth of the monitor and signage display segments.
On the basis of types, the market is segregated into capacitive, resistive, infrared, and surface acoustic wave type displays. The infrared segment is anticipated to account for a large market share during the forecast period. Increasing demand for capacitive displays owing to its cost effectiveness is propelling the growth of the market segment.
In terms of applications, the market is divided into personal and professional use. The personal use segment includes smartphones, tablets & consumer electronic. On the other hand, the professional segment includes use of touch screen displays applications in healthcare, retail, education, and government sectors. The rapid growth of afore-mentioned sector is anticipated to propel the professional use segment.
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