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Touch Screen Controllers Market Report 2024 - Market Share Analysis And Trends
Touch Screen Controllers Global Market Report 2024
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According to The Business Research Company's, The touch screen controllers market size has grown rapidly in recent years. It will grow from $10.02 billion in 2023 to $11.77 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The growth in the historic period can be attributed to rise in mobile devices, consumer electronics growth, industrial automation, medical devices, retail and pos systems.
The touch screen controllers market size is expected to see rapid growth in the next few years. It will grow to $22.63 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%. The growth in the forecast period can be attributed to automotive touch screens, 5g connectivity, emerging markets, gaming and vr/ar, healthcare digitalization. Major trends in the forecast period include in-display fingerprint sensors, edge-to-edge displays, gesture recognition, oled and amoled displays, multi-touch and multi-modal interaction
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Market Drivers and Trends:
The increasing demand for electronic products is resulting in growth in the touch screen controllers market. In recent times various electronic products such as smartphones, laptops, personal computers, portable instruments such as music players, tablets, and other products such as washing machines, refrigerators, and copiers are also equipped with touch screen controllers. This widespread demand for technologically advanced touch screen controllers in electronic products is driving the demand for touch screen controllers. In addition, due to the COVID-19 pandemic, educational institutions and corporate companies were inclined towards online schools and home offices, which resulted in longer use of electronic devices, leading to a rid growth in the electronics industry. Consumers are buying electronic products over eCommerce websites, leading to growth in the electronics eCommerce industry. Electronic commerce sales in 2022 are projected to grow by over $79 million, which is a 7% increase from 2021.
Technological advancement in touch screen controllers is a rising trend in the touch screen controllers market. Advancements in touch screen technology are constantly making their way to innovations due to the manufacturers thriving to launch new innovative products to gain a competitive advantage. For instance, in March 2021, Meech International, a UK-based manufacturer of static control and web cleaning solutions, launched Smart Control Touch. With this new smart control device users can monitor, control, and alter the performance of numerous connected hyperion ionising bars and sensors using an inbuilt touchscreen or remotely using a mobile phone, tablet, or laptop. It includes a 10"" integrated touch screen, data logging, and is compatible with meech voltage and distance sensors.
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Major Key Players of the Market:
Analog Devices Inc., Broadcom Limited, Cypress Semiconductor Corporation, ELAN Microelectronics Corp., Honeywell International Inc., Microchip Technology Incorporated, Melfas Incorporated, NXP Semiconductors N.V., Samsung Electronics Co. Ltd, Texas Instruments Incorporated, Integrated Device Technology Inc., STMicroelectronics N.V., Synaptics Incorporated, High Tech Computer Corporation, Lucky GoldstarElectronics, Panasonic Corporation, Renesas Electronics Corporation, ROHM Co.Ltd., Atmel Corporation, FocalTech Systems Co. Ltd., Goodix Technology Inc., Himax Technologies Inc., Silicon Laboratories Inc., Semtech Corporation, EETimes, Mstar Semiconductor Inc., Novatek Microelectronics Corp., Raydium Semiconductor Corporation, Sony Corporation
Touch Screen Controllers Market 2024 Key Insights:
• The touch screen controllers market size is expected to see rapid growth in the next few years. It will grow to $22.63 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%.
• Surging Demand For Electronic Products Drives Growth In Touch Screen Controller Market
• Touch Screen Controller Market Sees Surge In Technological Advancements
• Asia-Pacific was the largest region in the touch screen controllers market in 2023
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