The global multi-touch technology market is expected to experience significant growth over the forecast period. According to a recent report, the market is expected to grow at a CAGR of around 13% from 2023 to 2028.
The increasing use of smart electronic displays such as smartphones, tablets, and laptops is driving the market growth, with multi-touch technology holding a major share in these products.
Key Highlights
Increasing 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 prompted major PC and mobile device OEMs to enter the tablet market. The increasing acceptance of touch screen monitors and the increasing number of electronic devices are the key factors driving the market demand.
Introduction of low-cost multi-touch screen displays: The market is experiencing a boost with the introduction of low-cost multi-touch screen displays with enhanced sensing capabilities. These displays are being used in the retail and media sector for customer engagement and branding, thereby contributing to the market growth.
Retail to drive demand: The retail industry is utilizing interactive multi-touch displays for branding and customer engagement strategies, especially in developed regions such as North America and Europe. The deployment of interactive kiosks and desktop displays exemplifies the use of multi-touch technology in these markets.
Challenges and Market Impact: The market is facing challenges such as rising panel costs, limited availability of raw materials, and price volatility. However, major original equipment manufacturers (OEMs) are setting up branches 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 chain of touchscreen displays and kiosks, impacting market growth. However, the multi-touch technology market is expected to grow gradually as the global economy recovers and demand from various industries picks up.
Post time: Nov-04-2023