Touchscreen Controllers Market to grow with an Exceptional CAGR through 2028F
Increase in the number
of smart devices is a significant factor driving the growth of the global Touchscreen
Controllers market in the forecast period of 2023-2028.
According to
TechSci research report, “Touchscreen Controllers
market – Global Industry Size, Share, Trends, Competition, Opportunity and
Forecast, 2018-2028F”. The global Touchscreen
Controllers market is projected to expand in the coming year. The market for touchscreen controllers is
expanding due to rising demand for consumer electronics powered by IoT technology,
rising disposable income, and the quick pace of technological development.
Advanced display technologies like AMOLED & PMOLED displays, TFT LCD and
ZBD bistable displays, among others, are being used more frequently in
smartphones, cameras, televisions, and fitness equipment. The primary benefits
shifts from both internal and external improvements of the global industries,
the IoT is spreading across all sectors, creating opportunities, and
developing into a competitive marketplace which is increasing the demand for
the touch screen controller market.
The market
for touch screen controllers is being driven by rising demand for touch screen
technology in the automotive and banking industries. Touch screen is an
essential part of banking technology as with the integrated touch screens in
ATM and CDM machines, customers enjoy a quick, simple, and secure way to
withdraw and deposit cash. Therefore, banks focused on the automated nature of
these systems and the shorter lines, which allow bank tellers to focus on
customers who require more assistance. For every 100,000 adults worldwide,
there were 56.92 ATMs in 2020. The Government of India approved the
establishment of a "Development Fund Institution" (DFI), a national
bank, in March 2021, to fund the country's long-term infrastructure and
development projects. These schemes and government support anticipate the
market of the touch screen controller.
Touch screen
display sales have been significantly impacted by COVID-19 pandemic. Touch
screen display technology's sales and production were hampered by low
investment costs and significant labor shortage. New safety measures were,
however, adopted by the government and major market players to develop the
practices. Increased global sales of devices such as smart phones and tablets
are expected to drive the market growth in the post-pandemic scenario.
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The global Touchscreen Controllers market is
segmented based on technology, interface, scree size, end user, company, and
region.
Asia-Pacific
accounted for the largest region of the global touch screen controller market.
Global market expansion is being fueled by the presence of densely populated
nations like China and India, the existence of major players, and rising
technology investment. The government's economic development initiatives and
rising interest in mobile gaming are also driving the market's expansion. There
is also a significant increase in more OTT, television, and social media platforms.
Therefore, the companies are focusing more on the product expansion and
innovations. TCL Groups launched mobile phone and television displays in Andhra
Pradesh in June 2020. TCL is investing USD 219 million in the establishment of
a manufacturing plant for this purpose. This development has the potential to
positively impact the local market.
Markets for Capacitive,
Acoustic, Optical, and Resistive Touchscreen Controllers are divided based on technology.
During the forecast period, a significant portion of the market is anticipated
to grow by the capacitive segment. Mobile phones, MP3 players, home appliances,
and other industrial products similar to them frequently use them. High
reliability, performance, and durability over resistive drivers are expected to
drive the market. Because of this, these parts are employed to enhance the
functionality of smart devices while offering customers greater value and cutting-edge
technological advancements. As a result of their high sensitivity and ability
to deliver real-time sensation with little power consumption, would increase
the capacitive touch screen controllers. Retail and banking will merge in the
coming years.
Touch screen
controllers market has a high potential to grow in the upcoming years. Some of
the significant product developments and innovations are:
In January
2022, INTEL launched new Evo Platform for foldable display laptops. The
innovation boosts the touchscreen display market positively.
Eswin
Technology raised USD 392.6 million in December 2021 from China Internet
Investment Fund and GoldStone Investment for the development of AIoT and
display interaction chips.
OCEAN PINE
CAPITAL provided USD 1022.9 million to Chiappone Technology for R&D in TDDI
(Touch and Display Driver Integration), medium- and large-sized display driver
ICs (LDDI), OLED driver ICs, and mini-LED display driver ICs.
Major market players operating in the global Touchscreen
Controllers market are:
- NXP
Semiconductors
- Texas
Instruments Incorporated
- STMicroelectronics
- Microchip
Technology Inc.
- Integrated
Device Technology Inc
- Synaptics
Incorporated
- Semtech
Corporation
- MELFAS
Co. Ltd
- SAMSUNG
Electronics Co. Ltd
- Analog
Devices Inc
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“Global Touchscreen
Controllers market is expected to grow at a robust pace on account of
technological advancements. Factors like the growing expenditure capacity of
consumers and rapid urbanization, globalization, and digitalization are making
the users aware of the advancements in technology to live a quality life, and
these factors are anticipated to propel the demand for Touchscreen Controllers
across the country over the next five years.”, said Mr. Karan Chechi, research
director with TechSci research, a research-based global management consulting
firm.
“Touchscreen Controllers Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented
By Technology (Resistive, Capacitive, Acoustic, and Optical), By Interface
(Inter-Integrated Circuit (I2C), Serial Peripheral Interface (SPI), Universal
Serial Bus (USB), Universal Asynchronous Receiver/Transmitter (UART) and
Others), By Screen Size (Small and Medium-sized Screens, and Large Screen) By
End Use Industry (BFSI, Consumer Electronics, Automotive, Retail, Healthcare,
Industrial and Others) By Region, By Competition”, has evaluated the future growth
potential of global Touchscreen Controllers market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global Touchscreen Controllers market.
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