Touch Controller IC Market Report Overview
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The global touch controller IC market size was USD 36780 million in 2022 and market is projected to touch USD 52829.4 million by 2031, at a CAGR of 4.1% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the touch controller IC market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
A Touch Controller IC (Integrated Circuit) is a semiconductor device that enables touch input functionality in electronic devices such as smartphones, tablets, laptops, and touchscreens. It acts as a bridge between the touch sensor panel and the device's main processing unit. The touch controller processes the electrical signals generated when a user interacts with the touch panel. It converts the touch input into digital data that can be interpreted by the device's operating system and applications.
The market is projected to sprout out with an outstanding growth rate over the forecast period due to the growing demand for touch-enabled devices, increasing adoption of touchscreens in various industries, and technological advancements. Additionally, the market is split by type, by application, by regional expansion of the market. In terms of type of product, resistive touch screens and capacitive touch screens are available in the market. While, ATMs, automotive, computer, smartphones, and smartwatches are the key application segment to hike the demand for the product.
COVID-19 Impact: Pandemic Hyped the Demand for the Touch Screen Devices
Initially, the COVID-19 pandemic affected the market destructively. The limitations over industrial activity disrupted the global supply chain, causing shortages and longer lead times. However, the increased demand for touch-enabled devices, driven by remote work and online activities, positively affected the market. On the other hand, industries such as automotive and consumer electronics experienced a slowdown. Though, as restrictions eased and economic activities resumed, there was a gradual recovery and rebound in demand for touch-enabled devices. And the market is expected to continue to grow in the coming years as well.
Latest Trends
"Integration of Advanced Features Expand the Market Scope"
The market for the touch controller is growing significantly in recent years due to occurring various trends and upgrading technologies that are aiding the demand for touch controller devices. Integration of advanced features is one of the latest trends in the market. Touch controller ICs are increasingly being developed with advanced features to enhance user experience. These include support for multi-touch gestures, haptic feedback, palm rejection, on-screen fingerprint scanning, and stylus input. Also, manufacturers are focusing on improving accuracy, responsiveness, and power efficiency to meet evolving user expectations. Apart from this, in-cell and on-cell touch technology eliminates the need for a separate touch layer which is making displays thinner and lighter. This integration of touch functionality directly into the display reduces manufacturing complexity and cost. Therefore, touch controllers designed for in-cell and on-cell touch solutions are gaining popularity in the market. Thus, these trends and innovative technologies are attributed to boosting the touch controller IC market growth during the forecast period.
Touch Controller IC Market Segmentation
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- By Type Analysis
According to type, the market can be bifurcated into resistive touch screen and capacitive touch screen.
- By Application Analysis
Based on application, the market can be divided into ATMs, automotive, computer, smartphones, smart watches, and others.
Driving Factors
"Rising Demand for Touch-Enabled Devices Accelerates the Growth of the Market"
The growing popularity of smartphones, tablets, laptops, gaming devices, and other touch-based devices is the major driving factor that fuels the demand for touch controller ICs. As consumers seek intuitive and interactive user interfaces, are driving the market forward.
"Broadening Application Possibility Augment the Demand for the Devices"
The growing number of application industries for the touch controller device is a considerable factor that drives the market’s growth. Touchscreens are increasingly utilized in various industries such as automotive, healthcare, retail, industrial automation, and many more. Thereby, the expanding application scope creates new market opportunities for touch controller ICs.
Restraining Factors
"Intense Competition Can Restrict the Market Expansion"
The growth of the market can be impeded by the intense competition. As the touch controller IC market is highly competitive, with several major players vying for market share. This competition can lead to price pressures and margin compression for manufacturers that may affect profitability and market growth.
Touch Controller IC Market Regional Insights
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"Asia Pacific Leads the Market due to Strong Manufacturing Capabilities"
As per market research, Asia Pacific is the dominating region in the market. Particularly, China has a robust electronics manufacturing industry and is a major player in the touch controller IC market. Many leading touch controller IC manufacturers are based in China or have a significant manufacturing presence in the country. Hence, the region's strong manufacturing capabilities, cost advantages, and access to a large consumer base contribute to its leading position in the market.
Key Industry Players
"Key Players Offer Capacitive and Resistive Touch Solutions to a Wide Range of Applications to Sustain Position"
With regard to key players, leading brands in the market drive the growth of market through their product innovation, broad product portfolio, robust manufacturing capabilities, market presence and partnerships, technological expertise, and marketing efforts. The prominent companies are renowned for providing touch controller ICs for a wide range of applications, including smartphones, tablets, automotive displays, and industrial touchscreens. Their offerings encompass capacitive and resistive touch solutions, with a focus on features like low power. Furthermore, technical expertise and brand recognition further contribute to market growth by facilitating seamless integration and enhancing the user experience. In terms of market revenue, the top three key players hold the highest touch controller IC market shares in the international marketplace.
List of Market Players Profiled
- Analog Devices
- Texas Instruments
- Melfas
- Microchip
- 3M
- FocalTech
- Mstar
- Freescale Semiconductor
- Fujitsu
Report Coverage
This report defines the touch controller IC market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 36780 Million in 2022 |
Market Size Value By |
US$ 52829.4 Million by 2031 |
Growth Rate |
CAGR of 4.1% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global touch controller IC market expected to touch by 2031
The global lensometer touch controller IC market is expected to touch USD 52829.4 million by 2031.
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What CAGR is the touch controller IC market expected to exhibit during 2031?
The touch controller IC market is expected to exhibit a CAGR of 4.1% over 2031.
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What are the key driving factors of the touch controller IC market?
The driving factors of the touch controller IC market are the rising demand for touch-enabled devices and broadening application scope.
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What are the key players in the touch controller IC market?
The key players in the market include: Analog Devices, Texas Instruments, Melfas, Microchip, 3M, FocalTech, Mstar, Freescale Semiconductor, and Fujitsu are top players in the touch controller IC market.
