Touch Panels Aren’t Going Anywhere and the Market Keeps Flourishing
Smartphones are one of the most demanded products in consumer electronics industry and its growing demands have major impact on the market of touchscreen technology. Touch panel technology used for smartphones is gaining huge attention in the market owing to the growing attraction for branded smartphones such as Apple and Samsung.
Factors such as the falling price of smartphones and tablets, mounting adoption of an advanced and innovative user interface, and increasing government’s interest & investments in e-learning are driving the growth of touch panel market.
Rising Adoption of Touchscreen Kiosks in Commercial Applications
Touchscreen kiosks have enhanced user experience and has a high adaptability. From traditional keyboard interface design to touchscreen interface with technological advancements, kiosk have come a long way. It performs a vast range of applications including bill payment, ticket vending, and banking activities. Capacitive-based touchscreen technology—primarily used for multi-touch screen—will increase the demand for kiosks systems in coming years according to the experts’ predictions. Companies in the market are seen involved in R&D to design innovative touchscreen kiosks that are rugged, durable, cost-effective, and ideal to use in various environmental conditions. Demand for touchscreen kiosk systems is increasing worldwide by the retailers, that in turn is contributing to the growth of touch panel market.
Increasing Adoption of Smartphones in APAC
China, India, Japan, and Indonesia have a large number of smartphone users, boosting the mobile market in entire Asia. In context to the adoption of smartphones, 5G smartphones are witnessing rapid expansion in China due to government technology roadmap and operators’ strong financial capabilities. China is becoming a native place for many smartphone manufacturers that are pushing the business of touch panel. Imprints of Chinese brands including Huawei, Xiaomi, and Oppo are contributing heavily in manufacturing of smartphones. Experts opine that this aspect will bolster the business activities and contribute to overall growth of the touch panel market in China. Also, research data shows that APAC dominated the touch panel market in 2019 and will lead the market in next few years.
For the expansion of product portfolio and customer base, product development is the one of most adopted strategies by the companies in touch panel market. LG displays, Fujitsu Components America, and Advantech are among the main companies that are implementing strategies to gain significant share in the market, which in turn helps them to maintain brand name on a global platform.
Industry analysts predict that the high price of raw material will restrain the growth of touch panel market in the coming years. But despite this, the growing adoption of touch panels in the educational sectors around the world will fuel the growth of the market between 2020 and 2027.
Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.