Touch Screen Display Market (Updated Version Available)

Key Market Overview:

Touch Screen Display Market is estimated to reach over USD 58.63 Billion by 2030 from a value of USD 31.06  Billion in 2022, growing at a CAGR of 8.8% from 2022 - 2030.

A touch screen display is a type of computer display screen that has the ability to detect and respond to touch input. Such devices senses the touch of a finger or stylus, and the touch screen is typically used as a user interface in electronic devices such as smartphones, tablets, laptops, and others. Touch screen displays is classified into several types including capacitive, resistive, surface acoustic wave (SAW), and infrared (IR) based on the technology used to detect touch input. Toch screen display offers ease of use, and user-friendly interface.

The touch screen display market is a highly competitive and rapidly growing industry. Key players in the market include LG Display, Samsung Display, BOE Technology, and Innolux. The market is driven by the increasing demand for smartphones, tablets, and other consumer electronics devices that find application of screen displays. Other factors contributing to the growth of the market include advancements in display technology, rising consumer expectations for user experience, and increasing demand for smart homes and internet of things (IoT) devices.

Touch Screen Display Market Report Coverage:

Market Dynamics:

Driver

 The increasing adoption of mobile commerce, entertainment, and wearable devices, owing to the changing lifestyle of the consumers along with rapid digitalisation is driving the demand for touch screen displays. The development of new display technologies, such as OLED, AMOLED, and flexible displays, has resulted in higher quality and more user-friendly touch screen displays.

Furthermore, the surging demand for the touch screen display in retail sector owing to the pressure on retailers to adapt new technologies to provide a better in-store experience for the customers. For instance, Digital kiosks allow shoppers to quickly and securely complete the checkout process with a variety of payment methods, including mobile and cardless.

Restraint

Advancing technologies such as AI is giving rise to perceptual interfaces which tends to hinder the touch screen display market. Technologies such as gesture and voice-based recognition is offering safety as well as a personalized experience to the consumers. Such innovative technologies are claiming they'll outdo touchscreens to become the new, foremost modes of human-computer communication and interaction.

Opportunities

The growing demand for foldable and flexible displays, offers versatility and convenience for consumers, thus provide a lucrative opportunity for the market to grow. The integration of touch screen displays with IoT and AI technology is also creating new opportunities, as these technologies offer new ways for users to interact with their devices.

Touch Screen Display Market Segmentation:

By Technology

The Technology is segmented into resistive touch, infrared touch, optical imaging touch, projected capacitive touch, and others. The projected capacitive touch technology has supported the increased market growth in terms of volume. Capacitive touch screen displays are incorporated with a layer of capacitive material, such as glass, to sense touch inputs. The technology is widely used in smartphones, tablets, and other consumer electronics devices, as it provides a more accurate and responsive touch experience compared to other technologies. Thus, increasing the demand for the technology in the touch screen display market.

Furthermore, the optical image touch technology segment is estimated to register the fastest growing CAGR in the forecast period. This is attributed to the fact that they are gaining popularity due to their high touch performance, compatibility with advanced user experiences, and durability

By Application

The Application segment is separated into Display/Digital Signage, Kiosks, and Consumer Electronics. Consumer electronics contributed the largest shares to the market growth in terms of revenue. The increasing popularity of smartphones, tablets, and laptops, which all rely on touch screen displays for user interaction is serving as the driving factor for market growth. Smartphones, in particular, have become essential devices for millions of consumers, and touch screen displays have become the standard user interface for these devices. Touch screen displays allow for easy and intuitive navigation of the device, and they support advanced user experiences, such as multi-touch inputs and gesture recognition.

The display/Digital Signage segment is anticipated to register the fastest CAGR in the forecast period. Kiosks with touch screen displays provide an interactive and intuitive user experience, allowing customers to easily navigate and access information or services. Owing to this the use of touch screen displays in kiosks has become increasingly popular in recent years.

By End Use

The end-user segment is trifurcated into commercial, residential and industrial. The residential segment has contributed the largest share in the touch screen display market in th year 2021 owing to the increasing popularity of smart homes and commercial places automation. Such displays provide a convenient and intuitive way to control various devices, and they are an essential component of modern home technology.

Furthermore, the commercial segment is projected to register the fastest CAGR in market in the forecast period attributed to the fact that touch screen displays are an essential component of modern business operations. For instance, in retail, touch screen displays are commonly used in kiosks and point-of-sale systems, allowing customers to browse and purchase products. Touch screen displays in financial services kiosks provide customers with easy access to banking services and transactions. The use of touch screen displays in the commercial sector is expected to continue to grow,

By Region

The regional segment is classified into Europe, Asia Pacific, North America, the Middle East and Africa, and Latin America. As of 2021, the Asia-Pacific region holds the dominant share of the touch screen display market attributed to the fact that the region is a hub for consumer electronics production. Additionally, the presence of a large consumer base in countries such as India and China also contributes to the growth of the touch screen display market in the Asia-Pacific region.

North America is also anticipated to register the fastest growth in terms of CAGR in touch screen display market, owing to the factors such as the presence of major tech companies, including Apple and Microsoft, and the adoption of advanced technologies, such as foldable and flexible displays. Moreover, the high disposable income of consumers and the increasing demand for smart devices and wearable devices are also driving growth in the market in the North American region.

Touch Screen Display Market Competitive Landscape:

Stakeholders have the opportunity to evaluate parameters such as SWOT analysis, merger acquisitions, and business strategies. Thus, the nature of the global market is predominantly competitive or high due to the presence of large numbers of key market industry players. Following are the prominent market players that currently function in market circumstances-

•  LG Display CO., LTD.
• BOE Technology (Beijing Oriental Electronics Group Co., Ltd )
• Samsung Display
• Innolux
• Japan Display Inc.
• AUO Corporation.
• Sharp Corporation
• Tianma
• Crystal Display Systems Ltd
• Hisense Mobile Communications Technology Co Ltd

Recent Developments

• In 2022, BOE Technology, a Chinese electronic components producer launched its latest OLED display, which is flexible, foldable, and offers a high definition. The New OLED technology is designed for use in foldable smartphones, laptops, and tablets, and provides a more versatile and portable computing experience.
   
• In 2021, LG Display one of the world's largest manufacturers and suppliers of OLEDs and flexible displays announced the launch of a foldable OLED display, which has the ablibity to bend and fold such as a piece of paper, for use in smartphones and other portable devices. Thus, such new display technology offers a more immersive viewing experience and enables devices to have larger displays without increasing their size.
   
• In 2021, Samsung Display announced the launch of its new Micro LED display technology, which is designed for use in large-screen displays, such as televisions and digital signage. The new technology offers improved image quality, higher brightness, and lower power consumption compared to traditional LED displays.