Dublin, July 13, 2023 (GLOBE NEWSWIRE) -- The "Multi-Touch Technology Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The global Multi-touch Technology Market is set to experience significant growth during the forecast period. According to a recent report, the market is projected to register a CAGR of about 13% from 2023 to 2028.
The increasing utilization of intelligent electronic displays, such as smartphones, tablets, and laptops, has contributed to the market's growth, with multi-touch technology forming a predominant share of these products.
Key Highlights
Rising Adoption of Multi-touch Screen Devices: The market growth is driven by the increasing use and adoption of multi-touch screen devices. The popularity of devices such as Apple's iPad and the growth potential of Android-based tablets have led to the entry of major PC and mobile original equipment manufacturers into the tablet market. The growing acceptance of touch panel displays and the rising number of electronic devices are key factors driving market demand.
Introduction of Low-cost Multi-touch Screen Displays: The market is witnessing a boost with the introduction of low-cost multi-touch screen displays that offer enhanced sensing capabilities. These displays are finding applications in retail and media sectors for customer engagement and branding purposes, contributing to market growth.
Retail Industry Driving Demand: The retail industry is utilizing interactive multi-touch displays for branding and customer engagement strategies, particularly in developed regions like North America and Europe. The deployment of interactive kiosks and table displays exemplifies the use of multi-touch technologies in these markets.
Challenges and Market Impact: The market faces challenges such as higher panel costs, limited availability of raw materials, and price fluctuations. However, major original equipment manufacturers (OEMs) are establishing units in developing countries to overcome these challenges and benefit from lower labor and raw material costs.
COVID-19 Impact and Recovery: The outbreak of COVID-19 disrupted the supply chains for touchscreen displays and kiosks, affecting market growth. However, as the global economy recovers and demand from various sectors rebounds, the multi-touch technology market is expected to grow gradually.
Market Trends
Increasing Use of Consumer Electronics and Asia-Pacific Growth:
Growing Use of Consumer Electronics: The global consumer electronics industry has witnessed significant growth, driven by advancements in connectivity technologies and the availability of affordable display panels. The adoption of touchscreen display units in consumer electronics devices has surged, fueled by digitalization and increased sales of smartphones and personal computers. The US consumer technology industry, for instance, is projected to generate over USD 505 billion in retail sales revenue, driven by strong demand for smartphones and other consumer devices.
Asia-Pacific Market Growth
Asia-Pacific is poised to be the fastest-growing regional market for multi-touch technology. Rapid urbanization and increasing disposable income in the region have boosted consumer spending on new technologies. The growing awareness about digital technologies and the rise of smart consumer devices like smartphones and wearables are driving market growth. China, a leading manufacturer of smartphones and electronic products, is expected to hold a prominent position in the market, supported by favorable government initiatives.
Key Topics Covered in the Report:
- Introduction
- Research Methodology
- Executive Summary
- Market Insights
- Market Dynamics
- Market Segmentation
- Competitive Landscape
- Investment Analysis
- Future Outlook of the Market
Prominent Companies in the Multi-touch Technology Market:
- 3M Company
- A D Metro Inc.
- DMC Co. Ltd
- Dongguan Cloudtop Electronic Technology Co. Ltd
- Fujitsu Limited
- GestureTek
- Ideum
- Panasonic Corporation
- Samsung Electronics Co. Ltd
- TouchNetix Limited
For more information about this report visit https://www.researchandmarkets.com/r/hdt6og
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