Touch Screen Controller Market Size will expand at a decent growth rate from 2022 to 2028. The growing adoption of touch screens in the electronics and automobile industry in products like door locking systems, smart home appliances, biometric devices, automobile infotainment systems will bolster the demand for these products in the foreseeable future.
Rapid digitalization of the banking sector leading to the integration of ATMs for cash withdrawal, biometric devices for KYC, swiping machines for online payments, and passbook printing machines will augment the industry forecast in the years ahead. Increasing technological advancements and rising R&D activities by key players will help drive the market outlook. In addition, proliferating industrial automation coupled with the increasing product penetration in the aerospace sector will fuel the industry trends in the upcoming years.
Furthermore, an upsurge in the number of touch-enabled devices like smartphones, tablets, kindles, etc., in covalence with the emerging demand for smart wearables such as smartwatches, activity trackers, etc., will bring about lucrative growth opportunities for touch screen controller industry over the stipulated timeframe.
With regards to the technology, capacitive controllers may gain significant momentum driven by their growing popularity and ample benefits. These devices make use of the human touch as input and offer various benefits like reliability even in damaged conditions, accuracy, sharp and vibrant images, high touch sensitivity, multi-touch support, making them a product for the future. Moreover, increasing application of these controllers in medical devices, energy monitoring, door access controllers will push the segment expansion in the forthcoming years.
Consumer electronics segmentation may register decent progression over the projected timeframe. Increasing adoption of touch screen controllers in smart devices such as cellphones, tablets, smart TVs, wearable devices, along with several home appliances like water purifiers, air fryers, refrigerators, etc., will lead to segment expansion in the coming years. In addition, emerging technological trends and R&D investments by eminent manufacturers will further support the market outlook.
Asia Pacific touch screen controller market will depict significant growth trends over the analysis timeline due to the expanding consumer base and improving socio-economic condition of people across the region. The existence of major manufacturing firms and the availability of raw materials at an affordable price will boost the regional growth during the forecast period. Furthermore, increasing leisure expenditure driven by souring disposable incomes are other factors contributing to the regional expansion.
Some of the promising players of the touch screen controller market include NXP Semiconductors N.V., Elan Microelectronics Corp., Integrated Device Technology, Inc., Samsung Electronics Co. Ltd., Texas Instruments Inc., Analog Devices Inc., Broadcom Limited, Melfas Incorporated, STMicroelectronics N.V., Microchip Technology Incorporated, Synaptics Incorporated, and Cypress Semiconductor Corporation. These players are implementing various market strategies to expand their customer base and sustain the industry competition in the future.
In November 2021, Microchip Technology Inc. announced its new maXTouch® MXT1296M1T touchscreen controllers that will offer extensive flexibility to satisfy unique display aspect ratios in cars along with waterproof, fast, and accurate multi-touch detection.
COVID-19 had a mixed impact on the touch screen controller industry. Lockdown restrictions across major economies limited the import and transportation of goods and services, hugely disrupting the production and supply of these products. Declining economic growth and unemployment reduced the non-essential expenditure of people further impacted the industry expansion.
On the other hand, increasing demand for touch-enabled medical devices like a pulse oximeter due to escalating need for remote monitoring coupled with the surging requirement for smartphones and laptops driven by remote learning and work from home trends pushed the industry growth.
Market, by Technology
Market, by Screen size
The above information has been provided for the following regions and countries: