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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