Touch Screen Display Market Size, COVID-19 Impact Analysis, Regional Analysis, Application Development, Competitive Landscape & Forecast, 2021 – 2027
Report ID: GMI1802
Touch Screen Display Market trends are continuously evolving, influenced by increasing consumer expectation and constant technological innovations. Touch screen-enabled devices such as smartphones, tablets, and laptops are a necessity for most businesses today and their adoption is growing steadily. Apart from these devices, touch screen technology is implemented in ATMs, point-of-sale (POS) systems, personal digital assistants (PDA), e-reading devices, electronic voting machines, gaming consoles, and many other areas. Improvements in sensor technology enabling smooth multi-touch functionality and other features will augment the market growth over 2021-2027.
A touch screen display typically includes three components: a touch sensor, a controller, and a software. In terms of the screen types, the market is segmented into resistive touch screens, capacitive touch screens, infrared touch screens, and others. Among these, capacitive and resistive are the most common technologies. In resistive displays, two metallic layers become connected when either fingers or a stylus comes into contact with the screen, causing a change in electrical current. Capacitive systems, on the other hand, use a layer of capacitive material which changes the amount of electrostatic charge at the point of contact and work only with fingers.
The capacitive touch screen display market is projected to experience rapid growth and development through 2027. Capacitive touch screen displays are in demand as their benefits are endless. Firstly, these displays support multi-touch functionality, require less pressure, and offer extreme durability and improved picture quality with high clarity and resolution. Moreover, capacitive displays are easy to clean and can continue to function even if the screen cracks. New smart device models with capacitive touch screen displays are constantly entering the market. For instance, in July 2020, LG Business Solutions USA had launched a new transparent OLED display for digital signage. Featuring a capacitive touch screen functionality, the display can blend in with the environment.
The presence of major semiconductor and electronics companies and a tech-savvy consumer base in North America means that the region could capture a major share of the touch screen display market by 2027. Continuous technological developments and increasing acceptance of latest technologies among consumers is driving the regional growth. In June 2021, for example, Microsoft announced the launch of the Windows 11 OS at a live event. Among numerous major upgrades, the OS will deliver optimized touchscreen functionality with improved touch interactions.
Samsung, LG Display, 3M Company, Panasonic Corporation, Freescale Gigabyte, Fujitsu Ltd., Wintek Corporation, Atmel Corporation (Microchip Technology), Synaptics Incorporated, Cypress Semiconductor Corporation (Infineon), and American Industrial Systems are some of the prominent names in the touch screen display market. These companies are witnessing tremendous opportunities as development of new advanced consumer electronics products continues to gather pace. In June 2021, for instance, Samsung had signed a deal with Apple to supply OLED screen displays for future iPhone and iPad models.
COVID-19 crisis and its fuel on touch screen display market forecast
The industry experienced slight disruptions amid the COVID-19 pandemic due to suspension of production and manufacturing activities in certain regions. Shortage of raw materials due to supply chain disruption and reduced output is also a major concern. For instance, in April 2021, smartphone giants Apple and Samsung reported reduced sales owing to chip shortage. Samsung said its display panel sales to smartphone makers have suffered led by the shortage while Apple said the lack of chips is hampering Mac and iPad production which could cost the company USD 3-4 billion by the end of Q2 2021.
On the other hand, the pandemic has also rendered a positive impact on touch screen display demand. When COVID-19 arrived in 2020, sales of smartphones, tablets, laptops and other electronics surged in certain regions as majority of individuals began working from home. The continuing work-from-home trend and the demand for new, more advanced electronics gadgets will create favorable opportunities for the market during the forecast period 202-2027.
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