Touch Panel Market Estimated to Expand at a Robust CAGR over 2020-2027 | 3M, Advantech Co. Ltd.,ChimeiInnolux Corporation,Fujitsu Limited,Hitachi Ltd.

The touch panel market was valued at US$59.06 Billion in 2019 and is projected to reach US$137.1 Billion by 2027; it is expected to grow at a CAGR of 12.0% from 2020 to 2027.

APAC touch panel market is anticipated to account highest CAGR during the forecast period

APAC region held the largest share of global touch panel market owing to the widespread penetration of smartphones and e-learning in various countries of the region. APAC is one of the prominent regions known for manufacturing consumer electronics. China, South Korea, Japan, and Taiwan are the major countries contributing to the growth of the consumer electronics industry,owing to the major factors such as high disposable income among individuals and their willingness to purchase advanced electronic gadgets.

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Top Key Players:-

1. 3M
2. Advantech Co. Ltd.
3. Fujitsu Limited
4. LG Displays
5. Renesas Electronics Corporation
6. SAMSUNG
7. Xenarc Technologies Corporation
8. Planar
9. Hitachi Ltd
10. Innolux Corporation

North America is the second largest market region in touch panel market. The penetration of smartphones in the US is resulting in the rising disposable income of individuals and changing lifestyle. Along with booming sales of smartphones, the adoption of wearables, laptops, tablets, touch screen LCD monitors, and kiosks is also increasing. Giving a market of smartphone a rise, growing availability of 4G connectivity throughout the US is playing major role.

This factor will contribute in making the touch panel market to grow. Faytech North America and Unytouch, are some of the companies involved in touch screen technology business. More than 60% of population in the US has access to smartphones which contributes in stimulating the smartphone mobile market.Large number of smartphone users will propel the production of touch panels for smartphones.

Touch Panel Market Segmentation:

By Technology

• Resistive
• Capacitive
• Infrared

By product Type

• Consumer
• Commercial and Industrial

By Application

• Consumer
• Medical
• Retail
• Industrial

Key findings of the study:

The mounting adoption of e-learning techniques across schools, universities, and corporate organizations for organizing effective class-roomand training programs is one of the substantial factors for the growth of the touch panel market. Similarly, the increasing requirements for interactive learning techniques, including mobile educational applications, as well as gamification, are boosting the smart education and e-learningduring the forecast period.

The multi-touch technology has many advantages over traditional touchscreen technology, such as it is three-times faster than traditional touchscreen; it enhances the functionality and remote access with the help of tablets and smartphones; and it provides enhanced visualization to the user. The touch panel manufacturers strongly focus on the development of multi-touch panel devices. Therefore, development of multi-touch screens will accelerate the growth of touch panel market.

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