Tactile Switches Market

Tactile Switches Market

Growth Factors of Tactile Switches Market

The tactile switches market size was valued at USD 6.85 billion in 2020, and the market is now projected to grow from USD 7.15 billion in 2021 to USD 11.21 billion by 2028, exhibiting a CAGR of 5.77 % during the forecast period of 2024-2032.

The outbreak of COVID-19 adversely affected the growth of the tactile switches market majorly due to extremely disrupted supply chains and low production rates. The governments imposed restrictions such as lockdowns that affected the process of production and transportation of raw materials and components. Nevertheless, increased demand for electronics due to remote work, or growth in demand for consumer electronics helped to compensate for these problems. Therefore the market stalled for a while during the lockdown periods, but as things opened up again and operations resumed there was recovery with more focus being made on automation and ‘contact-less’ solutions.

The noticeable trends of growth in the tactile switches marketplace involve miniaturization resulting from the increasing popularity of portable electronics. Also, there are shift towards increasing the durability and lifetime of the related products throughout the industrial and automotive sectors. The technological advancement in the control systems is also pushing IoT and smart home device manufacturers to come up with new switches. Also, there is a current trend towards the use of materials that are environmentally friendly since the aspect of sustainability is being adopted in production processes of the electronic components. All of the above-mentioned factors are driving the tactile switches market share.

The market for tactile switches is propelled by certain factors such as an increasing use of compact switches in smartphones, wearable device, and smart gadgets. Another reason contributing to demand is the development of the automotive industry as tactile switches are commonly used in many of the vehicles’ controls. Also, increasing trends of industrial automation and smart homes positively drive the demand for high-performance, long-lasting switches. The advancements in miniaturization of components and improvement of the tactile sense drive the market ahead, as well as the expansion of the use of IoT devices helps the constant demand of high quality tactile switches.

Comprehensive Analysis of Tactile Switches Market

Tactile switches can be categorized in different ways and, depending on the Industries; tactile switches are available in different types and different configurations. The ones they are classified by are the standard and the sealed switches whereby the sealed ones are protected against dust and water hence can withstand harsh conditions. Illumination – some switches come with light indicators while others do not have the feature, but can be illuminated. They can be classified according to the actuator type in square types, rectangular types, plunger types, round types and many other types according to the design. As for the applications, these switches are applied to automotive industry, medical field, electronic products and other fields which require high stability and reliability.

The Asia-Pacific region occupies the largest tactile switches market share owing to its strong electronics manufacturing sector especially within countries such as China, Japan, and South Korea. The region comprises some of the large electronic companies and intensive automobile manufacturing industries, which incorporate the touch switches to a larger extent. Also, the expansion and popularization of Industrial Automation Solutions and Smart Home systems in Asia-Pacific are the other growth factors. The availability of government policies that support the creation of manufacturing industries, low cost of manufacturing and presence of elaborate supply chain makes the region a leader in the global market for tactile switches.

Key players in this sector include Panasonic (Japan), OMRON Corporation (Japan), C&K (U.S.), CTS Corporation (U.S.), TE Connectivity (Switzerland), ALPS ALPINE (Japan), MITSUMI ELECTRIC CO., LTD. (Japan), Marquardt Group (Germany)

In fiscal year 2023, a new model was unveiled in the market of tactile switches by ALPS ALPINE namely SKPM Series. The product is designed to have a small form factor that consumes little space hence suitable for use in wearable devices and other compact electronics. The SKPM Series is more comfortable to use owing to the improved click feeling and more durability with up to one million cycles. Furthermore, it also adopts the high-end sealing technique to prevent its ingress from dust and moisture, as more and more applications require the switches to be robust and durable both in the consumer electronics and industrial control fields.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 7.37% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Type

- Centrifugal Pump

- Positive Displacement Pump

By End-User

- Building Automation

- Water & Wastewater

- Oil & Gas

- Power Generation

- Chemical

- Others

By Geography

- North America (By Type, By End-User, By Country)

• U.S. (By End-User)
• Canada (By End-User)

- Europe (By Type, By End-User, By Country)

• U.K. (By End-User)
• Germany (By End-User)
• France (By End-User)
• Italy (By End-User)
• Spain (By End-User)
• Russia (By End-User)
• Rest of Europe (By End-User)

- Asia Pacific (By Type, By End-User, By Country)

• China (By End-User)
• India (By End-User)
• Japan (By End-User)
• Australia (By End-User)
• Southeast Asia (By End-User)
• Rest of Asia Pacific (By End-User)

- Latin America (By Type, By End-User, By Country)

• Brazil (By End-User)
• Mexico (By End-User)
• Rest of Latin America (By End-User)

- Middle East and Africa (By Type, By End-User, By Country)

• GCC (By End-User)
• South Africa (By End-User)

- Rest of Middle East and Africa (By End-User)


Please Note: It will take 5-6 business days to complete the report upon order confirmation.