The touch panel market size is projected to reach US$ 221.84 billion by 2031 from US$ 84.73 billion in 2023. The market is expected to register a CAGR of 12.8% in 2023–2031. The growing adoption of touch panels in the education and retail sector is likely to remain a key touch panel market trend.
The touch panel market is growing at a rapid pace due to the growing adoption of touch technology in commercial spaces and expanding medical, retail, hospitality, and BFSI industries. The market is expanding steadily, driven by the growing digitalization and government initiatives to support digital education. Moreover, consumer preferences toward the adoption of technologically advanced solutions are providing lucrative opportunities for market growth.
Touch panels are display technology that allows users to operate computers through direct touch. They consist of both an input device (the touch panel) and an output device (a visual display). These panels are widely utilized in a variety of digital devices, including smartphones, tablets, computer screens, and digital cameras, among others. The primary advantage of touch panels is their easy operation. They allow users to easily interact with devices using icons and buttons, even if they are unfamiliar with computers. Moreover, the growing demand for user-friendly devices in the industry is boosting the market.
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Touch Panel Market: Strategic Insights
The rising installation of interactive kiosks, touch-based point-of-sale systems, and digital signage in a variety of industries, including retail, hospitality, and education, is driving the market. Touch panels are commonly used in commercial spaces, particularly meeting rooms and conference centers, for controlling audiovisual equipment, lighting, and collaborative tools. Businesses across the globe are integrating touch panels in commercial spaces to transform business operations by offering intuitive and engaging user interfaces. Growing demand and adoption of interactive screens in commercial spaces are fueling the market during the forecast period. This demand is attributed to the rising employee and customer engagement in commercial spaces for meetings, discussions, and data sharing.
Technological advancements and shifting consumer preference towards the adoption of technologically advanced solutions are driving the market. Manufacturers are continuously engaged in improving the durability, multitouch capabilities, and touch sensitivity of touch panels to meet consumer demand for smooth user experiences. Additionally, incorporating cutting-edge technologies such as virtual reality (VR) and augmented reality (AR) in touch panels are creating opportunities in the market during the forecast period.
Key segments that contributed to the derivation of the touch panel market analysis are technology, product type, and application.
The geographic scope of the touch panel market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
In terms of revenue, Asia Pacific accounted for the largest touch panel market share, due to the presence of a large number of manufacturers, including Samsung, FUJITSU LIMITED, Hitachi, Ltd, LG Display Co., Ltd., and others. These players are engaged in developing new innovative products to attract new customers across the globe. Moreover, rising urbanization, growing disposable income, and expanding retail industry are fueling the market in the region. A variety of touch panels such as kiosks, digital signage, and touch-based point-of-sale systems, are highly adopted by the retail industry for enhancing customers’ experience. These factors are anticipated to propel the market in the near future.
The regional trends and factors influencing the Touch Panel Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Touch Panel Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 84.73 Billion |
| Market Size by 2031 | US$ 221.84 Billion |
| Global CAGR (2023 - 2031) | 12.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Touch Panel Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Touch Panel Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The touch panel market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for touch panel and strategies:
The “Touch Panel Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The global touch panel market was estimated to be US$ 84.73 billion in 2023 and is expected to grow at a CAGR of 12.8% during the forecast period 2023 - 2031.
The growing adoption of touch technology in commercial spaces and expanding medical, retail, hospitality, and BFSI industries are the major factors that propel the global touch panel market.
The growing adoption of touch panels in the education and retail sectors is anticipated to play a significant role in the global touch panel market in the coming years.
The key players holding majority shares in the global touch panel market are 3M, Samsung, Xenarc Technologies Corporation, Renesas Electronics Corporation, and FUJITSU LIMITED.
The global touch panel market is expected to reach US$ 221.84 billion by 2031.
The incremental growth expected to be recorded for the global touch panel market during the forecast period is US$ 137.11 billion.