Disruptive innovations in the consumer electronics sector such as flexible & foldable screens and surging demands from the automotive industry are set to spur the global touch controller integrated circuit market
The history of touchscreens dates back to 1940s. The first touch screen device was a touch-sensitive music synthesizer called The Electronic Sackbut. Since then, touch screen technology has evolved and expanded at a radical pace. Today, touch screens are readily available on smartphones, tablets, reading screens, and laptops. Technical innovations follow Moore’s law, which states that the capability of an integrated circuits doubles every year. Following Moore’s law, development in the touch control technology resonates an exponential growth in the fleet of touch screen devices. Touch-enabled devices are gaining popularity in numerous end-user industries such as manufacturing, aerospace & defense, automotive, healthcare, education, and electronics. In the manufacturing sector, touch screen controllers are used in touch control panels for monitoring, manipulating, and managing the operations in a manufacturing unit. Considering the exuberant growth in the manufacturing industry, the demands for advance, rigid, and robust touch control panels are projected to induce significant revenues in the global touch controller IC market. Touch screens are being adopted for automotive infotainment systems, and the prevailing demands for commercial and passenger vehicles and the emerging branch of electric vehicle (EV) and autonomous vehicle (AV) are estimated to drive the automotive sector, further catalyzing the demands for touch controller IC in the automotive infotainment system. The healthcare industry uses the touch screen monitors equipped at the patient kiosks to read and analyze the patient’s progress. Additionally, it is also used in medical imaging equipment to pace up the analyzing and decision-making processes involved. Touch screen display enables the doctors and nurses to communicate instantly and react quickly in critical situations and make effective decisions with minimal inputs. Consequently, the healthcare industry is one of the fastest-growing verticals, and it involves cyclic operability, which is projected to initiate demands in the global touch controller IC market. Integration of touch screens has catalyzed the traditional learning processes. Massive adoption of touch screen displays in the education sector has significantly optimized the classroom attitude and has proved to be a success in enhancing the student’s learning curve. The need for promising and interactive learning in schools, institutions, and colleges are anticipated to positively impact the global Touch Controller IC market size, which already held the value of $7.67 billion as of 2018. Foreseeing the demands for touchscreens in numerous end-user verticals, the touch controller integrated circuit market is projected to witness a growth at a CAGR of 14.66% during the forecast period of 2019 to 2025.
Demography of the Touchscreen Controller Integrated Circuit Market
The APAC region was observed as the most lucrative region in the global touch controller IC market, with the regional market share of 37.67% in 2018. APAC homes majority of the manufacturing industries, majorly consumer electronics production giants. China homes some of the biggest consumer electronics manufacturers, including Huawei, OnePlus, Oppo, Xiaomi, and Lenovo. All these companies are thriving in the consumer electronics sector with countless products, including but not limited to, mobiles, tablets, laptops, and smartwatches. Such electronic devices employ a vast number of integrated circuits, thereby assisting the touch control IC market. According to the International Trade Centre, the trade value of integrated circuits in China surpassed $312 million in 2018, and a significant portion of it was generated through the touch controller integrated circuits. China is considered as the production hub for the consumer electronic devices, the majority of the electronic products employing touch controller IC are manufactured and assembled in the region. The accelerated demands for the technology for smart monitor screens, mobile phones, GPS devices, portable devices, and televisions are engaging the key vendors to manufacture touch controller IC at a faster momentum, henceforth inducing significant revenue activities in the region. The North American and the European region are closely following the APAC region in terms of touch controller IC demands. The growing awareness towards the varied applications of touch controller integrated circuits and the increased research and development endeavors by the major players in the region are expected to support the touch controller integrated circuit market growth.
Key Application Lies in the Commercial Sector
The commercial usage among other utilities is considered as the key application in the global touch controller integrated circuit market. The commercial application is evaluated to witness growth at a CAGR of 15.88% during the forecast period. Some of the most common commercial application of the touch controller integrated circuit are ATMs, billing kiosks in the retail sector, and self-service kiosk at a railway station, bank, and airport. Self-service touch screen kiosks are trending in such commercial places, as they aid in reducing the queue at the counters and helps the operators to manage the crowd effortlessly. As per the evaluation of The World Economic Forum, China is building 8 new airports annually, to reach the target of 260 active airports by 2020. Similarly, the aviation sector is witnessing an unprecedented growth in the western economy with the number of airports exceeding 13,513 in the United States. The bolstering upsurge in the density of air passengers and the optimization of existing airport infrastructure will employ a substantial amount of touch screen kiosks at the airports to serve the growing air passengers volume. Thus, the rising demands for touch controller integrated circuit at the airports will drive substantial revenues in the global touch controller integrated circuit market.
Top Trends Influencing the Touch Controller Integrated Circuit Market
Emerging Augmented Reality and Virtual Reality
Augmented reality and virtual reality have started to become commercially viable. Touch controllers integrated circuits are used in AR and VR devices to enhance the consumer experience. Currently, AR and VR technologies are used for simulation, gaming, and entertainment purposes. With constant technical innovations and exuberant capital investment in the AR and VR technologies, the demands in the global touch controller IC are projected to surge in the upcoming years.
Foldable and Flexible Touchscreen Devices
Technology has reached a point where foldable laptops and personal computers are not a dream. One such innovation is the Lenovo ThinkPad X1, and the company introduced a 13.3-inch 2K OLED display touch screen that can be folded up to the size of a hardcover book. Moreover, companies like Samsung, LG, and Huawei are also investing significant capital to introduce foldable phones. With such tremendous market opportunities in the flexible device segment, the global touch screen integrated circuit market is estimated witness significant profits in upcoming years.
Touch Screen Infotainment System in Vehicles
The automotive manufacturers are integrating touch screen infotainment systems to enhance the in-car entertainment systems. For many consumers, the infotainment system is the key aspect in deciding on a particular vehicle model. Henceforth, manufacturers are adamant about incorporating aesthetic and advanced touchscreen infotainment system. According to the OICA, the total production of motorized vehicles surpassed 95 million in 2018. With such a robust demand for touch screen infotainment system in the automobile industry, the demands in the touchscreen controller IC market are projected to surge.
Market Competitive Landscape
The companies influencing the touch controller market are Atmel, Cypress, Synaptic, Melfas, FocalTech, Texas Instruments, Analog Devices, Mstar, Silicon Labs, Microchip, 3m Touch Systems, Broadcom Corporation, Cirque Corporation, and Freescale Semiconductor. These companies have been continuously improvising their software and digital products to stay ahead of their competitors in the market.
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