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Pune, India, Sept. 28, 2022 (GLOBE NEWSWIRE) -- The global Touch Screen Display Market Size stood at USD 59.57 billion in 2021. The market is anticipated to surge from USD 66.91 billion in 2022 to USD 166.12 billion by 2029 at a 13.9% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report, titled, “Touch Screen Display Market, 2022-2029.”
According to the analysis, predictive touch technologies have gained considerable traction to provide more design flexibility. Besides, gesture trackers, including vision-based and RF-based sensors, have become highly sought-after in consumer devices. Touch screens with custom designs have become trendier for high-tech products across emerging and advanced economies.
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Key Industry Development
July 2021 - Corning Incorporated announced the expansion of Corning Gorilla Glass composite products to boost mobile device cameras’ performance.
Report Scope & SegmentationReport Coverage Details Forecast Period 2022 to 2029 Forecast Period 2022 to 2029 CAGR 13.9% 2029 Value Projection USD 166.12 Billion Base Year 2021 Touch Screen Display Market Size in 2021 USD 59.57 Billion Historical Data for 2018 to 2020 No. of Pages 160 Segments covered Screen Type; Application; End-User Touch Screen Display Market Growth Drivers Advancements in Projected Capacitive Touch Technology to Bolster the Market Rapid Growth in Voice Recognition Advancements to Hamper the Market
Pandemic Stimulated Demand for Touchless Technologies
The onset of the COVID-19 pandemic compelled leading companies to inject funds into touchless technologies. Several enterprises sought touchless technologies across casino screens, ATMs, fast-food ordering terminals, airline kiosks, and self-checkout kiosks. Besides, facial recognition and voice recognition technologies are expected to provide lucrative opportunities in the ensuing period. Commercial and residential consumers are expected to seek touchless displays globally.
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Drivers and Restraints
Trend for Projected Capacitive Touch Technology to Underpin Growth
Industry participants are expected to cash in on the growing footprint of projected capacitive touch technology across smart television, smartphones, and other consumer electronic devices. The touch screen display market share will gain traction from heightened demand for cutting-edge technology. Prominently, capacitive touch screens have gained popularity across industrial and commercial applications and in consumer gadgets. Some of the factors, such as durability and strength will augur well for the industry growth. However, strong demand for voice recognition advancements could challenge leading companies gearing to boost their portfolios.
Asia Pacific to Witness Investment Galore with Bullish Demand for Advanced Electronics
Asia Pacific could account for a significant share of the global market on the back of rising penetration of the electronics sector across China, India, and Japan. The Asia Pacific market size stood at USD 31.7 billion in 2021 and will grow with expanding footfall of tablets and smartphones. For instance, China has witnessed an exponential rise in the adoption of touch screen displays as sensor technologies and capacitive touch have received major impetus across the mainland.
Stakeholders anticipate the North America touch screen display market growth to witness a notable gain due to increased smartphone adoption and wide availability of raw materials. Demand for gesture sensing and infrared sensors will gain prominence across the U.S. and Canada, triggering investments in the ensuing period.
Europe market growth will be strong in the wake of surging demand for professional applications, including government and education. Burgeoning urbanization will further the penetration of technologically advanced products. Industry players anticipate infrared and capacitive touch screen displays to gain traction across the U.K., France, Italy, and Germany.
Stakeholders Prioritize Strategic Approaches to Boost Penetration
Prominent players could inject funds into mergers & acquisitions, product rollouts, technological advancements, and R&D activities. Besides, major companies could invest in innovations and product offerings in the ensuing period.
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The report offers a comprehensive perspective of the market size, share, revenue, and volume. It has deep-dived into SWOT analysis. Quantitative and qualitative assessments have provided a holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals.
Capacitive Touch Screens to Remain Dominant with Rising Demand for Gadgets
In terms of screen type, the market is segmented into resistive touch screens, capacitive touch screens, infrared touch screens, optical, and others (surface acoustic wave type displays). The capacitive touch screens segment will exhibit tremendous growth during the forecast period, largely due to the expanding application of electronic gadgets.
Consumer Electronics to be Sought-after Due to Growing Footfall of Smartphones
With respect to application, the market is segmented into consumer electronics, kiosks, and display/digital signage. The consumer electronics segment will contribute notably toward the global market against the backdrop of the rising penetration of smartphones globally.
Residential Segment to Dominate Backed by Rising Adoption of Projected Capacitive (PCAP) Touch Displays
As per end-user, the market is classified into residential, commercial, and industrial. The residential segment is expected to dominate due to the increasing adoption of projected capacitive (PCAP) touch displays.
List of Key Players Mentioned in the Report:
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Major Table of Contents:
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