Touch Sensor Market Tech & Apps Drive Growth and Industry Report 2024-2031

Market Overview :

A touch sensor is an electronic sensor that is used for physical touch detection and recording. The sensors are known to be inexpensive alternatives to conventional mechanical switches in miniature sizes. Touch sensors are more comfortable and efficient to use, as it does not have any moving parts such as mechanical switch or potentiometer. In addition to a controller integrated circuit and software driver, it is one of the significant components used in the touch screen. When a touch or pressure is applied to the surface, the sensor usually works, allowing the current to pass through the circuit.Touch Sensors are of various types: capacitive, resistive, infrared, and surface acoustic wave (SAW). Touch sensors are found in lamps, touch screens of smartphones, automotive, industrial and other vast arrays of applications. The increasing adoption of touch-enabled devices in retail, education, hospitality, and healthcare is the prime factor driving the market growth for the product. Introducing these touch-enabled devices into retail outlets would allow customers to engage and browse the stock and order items conveniently. These sensors can be used in the educational and corporate sectors for conferences, meetings, and presentations. During the forecast era, the potential of touch-enabled equipment to assist consumers in a wide variety of end-user applications would contribute to its increased adoption.

Market Trends :

The improving adoption of touch-enabled displays drives the global touch sensor market due to massive technological advancements. Growing demand for consumer electronics devices as companies are providing laptops to their employees for working from home instead of all-in-one PC and the growing government initiative for the adoption of digital technology is boosting the growth of touch sensors in recent times.

The improving adoption of touch-enabled displays due to massive technological advancements

In the past few years, the touch screen interface industry has seen enormous technological advances. From being bulky, space-consuming devices, display devices have shifted to small, bezel-less gadgets. They now have much higher resolution, improved contrast ratios, and lower power consumption than conventional display devices. The dynamic market has seen manufacturers introduce goods with high-end features and appealing aesthetics. Besides, with the growing demand for touchscreen display products, the final price of different displays and technologies has been reduced tremendously. Therefore the product is building a high volume of the target audience as compared to the competitive technology. The overall performance of these displays has been enhanced by increased panel size and resolution and better viewing. Such changes are expected to boost the market for touch screen displays.

For instance, In January 2020, Samsung Electronics unveiled the next creative retail solution to help brick-and-mortar retailers reinvent their customers' in-store experience, driven by its latest display solutions, mobile devices, and innovations for behavioral sensing.

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Market Segmentation :

The global touch sensor market is segmented based on type, product, application, end-user and region.The rising demand of capacitive segment from various end-users and high associated advantages compared to other segments is building the global market of touch sensors in recent times.

In terms of type, the global touch sensor market is bifurcated into resistive, surface acoustic wave (SAW), capacitive, infrared and optical. Out of the mentioned types, the capacitive segment accounts for the largest market share due to growing applications requiring good optics and light contact. In various applications, including control panels, industrial automation, ticketing devices, and ATMs, supercapacitor touch sensor technology is used. Apart from this, touch sensors are gaining popularity in home applications such as lamps and portable devices such as smartphones, tablets (iPad, iPhone and others). The capacitive segment holds various advantages over other segments, such as support for multi-touch, doesn't require pressure, and builds on the glass itself, making force insignificant to sensing requirements. High responsiveness; thus, the applications mentioned above and advantages of the capacitive segment are building opportunities for the future coming market.

Geographical Share :

The presence of key players such as 3M, ON Semiconductor, Honeywell, and Texas Instruments in the North American region coupled with early technology adoption and high penetration of smartphones and tablets in this region is building the growth of North America.

North America is expected to grow at the fastest rate in the time mentioned above span due to major players such as 3M, ON Semiconductor, Honeywell, Texas Instruments, Atmel, Microchip Technology, Qualcomm Inc., among others. The presence of early technology adoption and high penetration of smartphones and tablets in this region. As there is rising incorporation of sensors into touch-activated devices in this area, the U.S. is expected to dominate the market. The demand among its customers for touch screen displays is continually growing leads to increasing customer base volume in the recent period. After the U.S., Germany is projected to dominate the market as businesses continually invest in R&D to create more powerful touch sensors and increase touch sensors.

Asia-Pacific, on the other side, is projected to rise at the highest CAGR during the forecast period due to the rapid growth of its retail industry and the shifting emphasis from product-centered to customer-centered strategy due to growing competition and evolving customer behavior in high-potential markets such as China, South Korea, Japan, and India.

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Competitive Landscape

The touch sensor market is highly competitive and consolidated with the presence of local and global companies. Some of the key players contributing to the market's growth include Cypress Semiconductor Corporation, CAPTRON, 3M, Semiconductor Components Industries, LLC, Renesas Electronics Corporation, Microchip Technology Inc, Schurter, Nissha Co. Ltd, Semtech Corporation, ViewSonic Corporation and among others.

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