Touch Screen Controllers Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

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The touch screen controllers market was valued at USD 5.19 billion in 2020 and expected to reach USD 11.86 billion by 2026 and grow at a CAGR of 14.95% over the forecast period (2021 - 2026).

- Technological investments in gesture recognition have propelled the market growth by supporting gestures, such as slide, pinch-to-zoom, swipe (or flick), twist, and press-and-hold (or long press). Moreover, the automotive sector has significantly impacted the touch screen controller industry.

- In addition to an increase in touch screen units shipped, projected capacitive touch screens are replacing resistive technology in automotive applications.

- With so many requirements to fulfil, creating a high-quality touch interface is challenging. These different requirements can sometimes conflict with each other, leading to trade-offs, unless the system is designed in a smart manner.

Key Market Trends

Consumer Electronics is Expected to Hold the Major Share

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... The consumer electronics is one of the most important and significant segments in the market. The fast-paced demand from the segment for new and innovative products has seen touch screen being embraced by multiple products.

- Mobiles, wearables, tablets, laptops, and PCs are among few consumer electronic products that have adopted the touch capabilities on a broader scale. Recently, products, such as washing machines, refrigerators, copiers, etc., all have been equipped with touch-enabled interfaces, to offer better consumer experience and create a differentiated demand.

- The competition in the wearables segment is expected to grow, as it has become more affordable. The volume of devices is expected to cross the billion mark by the end of the forecast period.

- Foldable mobile phones are expected to increase competition in the market for controllers that support these systems. 5G devices are expected to sustain the demand growth of mobile devices and boost the demand in the market segment.

Asia-Pacific is Expected to Hold the Largest Market Share

- Smart watches and smart bracelets have witnessed stagnation in their technological development because of a lack of innovation and homogeneity. However, the growth rate of smartwatches is still soaring in China, coupled with a strong demand for the product.

- The growing dependence on smartphones and the availability of affordable smartphones have brought the average smartphone replacement cycle in India to 20 months.

- The declining cost of consumer electronics, such as smartphones and tablet PCs, the growing adoption of simplicity in the user interface, government initiatives toward E-learning education, and reduction in labor cost through self-service have encouraged the usage of these devices in Japan.

- The South Korean automobile industry is one of the largest in the world. It has grown from a government-controlled industry to multinational enterprises in the last three decades. In 2017, South Korea was the sixth-largest automotive manufacturer in the world. Major players, such as Hyundai, Kia, and Renault, are based out of the country.

Competitive Landscape

The touch screen controllers market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. Competitive rivalry in the industry is governed by the presence of major players, such as NXP Semiconductors, Texas Instruments Incorporated, STMicroelectronics, Microchip Technology Inc., Integrated Device Technology Inc., etc. The companies are struggling to achieve competitive advantage over other players through innovation and are developing differentiated products for various applications.

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