Global multi touch technology market is projected to witness a CAGR of 20.69% during the forecast period to reach a total market size of US$14.255 billion by 2022, increasing from US$5.567 billion in 2017. Growing smartphones and tablets market is expected to fuel the growth of the multi-touch technology market as continuously shifting technology trends have elevated the use of multi-touch technology in these devices. Continuous improvements in the technology have led to rising applications of multi-touch screens which will further boost its market growth. However, shortage of Indium Tin Oxide (ITO) is foreseen to restrict the market growth for multi-touch technology.
Geographically, North America holds the largest share of the global multi-touch technology market, followed by Europe, owing to the increasing demand for wearable technologies and growing usage of technology-intensive products. Asia Pacific is expected to show the highest CAGR over the projected period due to increasing penetration of smartphones and rising disposable income which will lead to higher adoption rate for the devices using this technology.
By technology, global multi-touch technology market is segmented as resistive technology, capacitive technology, infrared technology, acoustic technology, camera-based technology, vision-based technology, embedded technology and others. Capacitive technology held the largest global market share in 2016 owing to their usage in nearly all the smartphones and tablets. This is because capacitive displays offer a smooth controlling with very light finger touches and consume very less power. These displays rely on the electrical properties of the human body to detect the human touch, which eliminates the hassle of using other input methods like stylus.
By application, global multi-touch technology market is segmented as smartphones, tablets, POS systems, gaming systems, large displays, and others. Smartphones and tablets held the largest global market share in 2016 owing to their increasing penetration in various regions, which led to the growth of multi-touch technology market in those regions. Continuous improvements in technology and marketing strategies of the companies have led to the market growth for smartphones and tablets, which has fuelled the growth of multi-touch technology market. The application of multi-touch technology is gaining traction in gaming systems and is expected to grow at a CAGR of XX.XX% over the forecast period
By industry, global multi-touch technology market is segmented as Media and Entertainment, Retail, Education, Leisure, Government and Corporate, and Public Space Applications, and others. Media and Entertainment held the largest global market share in 2016 owing to the use of multi-touch technology in a wide range of applications. The multi-touch technology is used in a wide range of interactive displays to provide maximum functionality and ease of use.
Geographically, global multi-touch technology market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America accounted for the largest market share in 2016 due to increasing popularity of technology-intensive products and wearable technologies. Asia Pacific is projected to witness the fastest regional market growth during the forecast period. Proliferation of smartphones and increasing spending capacity of people will fuel the growth of the multi-touch technology market in this region. Favourable government regulations in Asia Pacific have led to many key players entering this region. Many companies are shifting their manufacturing units into this region owing to the surplus supply of raw materials and availability of cheap workforce.