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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.
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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.
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 another factor driving the growth of touch sensors in recent times.
According to recent estimates from hardware industry leaders and analysts, the world stocked up on laptop and desktop computers in 2020 at a level not seen since the iPhone's introduction in 2007. Manufacturers are still months away and struggling to fulfill outstanding orders. Annual global shipments of PCs, the industry's collective term for laptops and desktops, peaked at at 300 million in 2008 and have recently been falling below 250 million; however, some analysts now predict that shipments in 2020 will conclude at around 300 million, up nearly 15% from a year ago. This growing demand is more likely to be propelled by the increasing demand for laptops and desktop computers for industrial purposes; thus, these growing percentages are expected to build the global touch sensor market in the forecast period. A recent KPMG and Google study found that Indian SMBs that embrace digital technology increase their revenues 50 percent faster. Their access to new markets is 51% higher than 29 percent of 'offline' SMBs, and they hire up to five times as many people as their digital counterparts. The numbers are expected to increase even further in the coming tenures owing to increasing government initiatives to adopt digital technology for various end-users.
With rapid technological developments such as AL's integration in touch sensors, businesses have begun to concentrate more on offering touchscreen devices with a range of additional features and created immense opportunities for the market to proliferate in recent times.
With rapid technological developments, businesses have begun to concentrate more on offering touchscreen devices with a range of additional features. To make them user-friendly and interactive, researchers affiliated with various businesses concentrate on incorporating emerging technology into traditional touchscreen display devices, including signage displays, kiosks, medical devices and outdoor touchscreens. Artificial intelligence(AI) is one such technology that offers massive opportunities to develop in the market for touchscreen displays. Touch screen devices based on AI can quickly convert data from one language into other languages and fetch user-specific information. Therefore, different businesses concentrate on incorporating AI into touchscreen display systems to witness increased demand for commercial touch display devices. Besides, researchers are focusing on areas that include: improved security (CBRNE, terahertz), low power sensors (energy harvesting), ubiquitous sensor (WSN, sensor fusion), smart sensors (wearables, quantified self), high sensitivity and smaller size (MEMS, nanosensors), and, industrial automation sensors (M2M, vision sensor) owing to growing technology thus creating huge opportunities for the touch sensor market to proliferate in coming tenures.
Surface acoustic wave (SAW)
Open Frame Touchscreen Displays
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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.
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.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the touch sensor market's growth globally. Acquisition and collaboration is the prime growth strategy adopted by various touch sensor manufacturers.
For instance, in April 2020, DMC CO., LTD came up with an announcement to release their new capacitive touch screen series, DFS. The product has been specifically designed for controllers of EETI or ILITEK. The glass frameworks are lighter and thinner and UV-resistant, making their use very convenient. It has allowed the business to broaden its product line, which has provided an immense revenue source.
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