The touch controller IC market is expected to grow by USD 6.67 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled Global Touch Controller IC Market 2020-2024 (Graphic: Business Wire)
The surge in online shopping is creating immense challenge for retailers to sustain in the market. In order to sustain the competition, retailers are focusing on increasing consumer interaction through interactive kiosks. These touch-enabled kiosks in the outlets are enabling consumers to engage and browse through the stock and order products. Some of the outlets are using touch-enabled tablets to display the product range. Intel has come up with the idea of a multi-touch intelligent digital signage concept for displaying customized ads in an outlet. Therefore, the demand for touchscreens is increasing globally in the retail sector. Thus, the increase in adoption of touch screen in retail sector will drive the growth of the market.
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As per Technavio, emerging flexible displays will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Touch Controller IC Market : Emerging Flexible Displays
The introduction of flexible displays by consumer electronic device manufacturers will attract consumers to try this technology. Flexible displays have OLED and AMOLED displays incorporating touch controller IC and are placed between the flexible display and the touch sensor. The flexible OLED is a flexible substrate such as plastic, metal, or flexible glass. Samsung and LG Electronics are the companies leading in the production of AMOLED displays. They manufacture AMOLED displays that are used for smartphones and wearable devices. Thus, the growing popularity of flexible displays will drive the growth of the touch controller IC market during the forecast period.
“Introduction of motion controller, and the growing popularity of AR and VR devices will have a positive impact on the growth of the touch controller IC market value during the forecast period,” says a senior analyst at Technavio.
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Touch Controller IC Market: Segmentation Analysis
This market research report segments the touch controller IC market by product (automotive, smartphones, ATMs, interactive displays, smart watches, smart bands, tablets and interactive kiosks), and geography (APAC, Europe, MEA, North America and South America).
The APAC region led the touch controller IC market in 2019, followed by North America, Europe, MEA and South America. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the high concentration of consumer electronic device manufacturers and increasing adoption of interactive kiosks in the region.
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Some of the key topics covered in the report include:
- Interactive displays
- Smart watches
- Smart bands
- Interactive kiosks
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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