Asia Pacific Touch Screen Controllers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia Pacific Touch Screen Controllers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Key Highlights

• The APAC Touch Screen Controllers Market is expected to register a CAGR of 14.2% over the forecast period from 2022 - 2027. Furthermore, with the outbreak of COVID-19, the market for touch screen controllers in the Asia Pacific was affected in the short run due to supply shortages and supply chain disruptions due to lockdown. Though the dip was only in the shortage, the market started recovering soon afterward.
• The boom in Asia Pacific markets has been enormous and is a huge market for every company that makes smartphones. The growth of this industry in countries like India and China is huge, with intense competition from companies like Apple, Samsung, and HTC and between home-grown companies in the two countries like Xiaomi, Oppo, Micromax, Karbonn, etc. There is a huge demand in both the low-cost and high-end smartphone segments.
• An essential part of the smartphone is the touch screen controller, which helps the consumer get the real feel of handling the phone by touching the screen, unlike touching buttons. As the smartphone industry grows in this region, the touch screen controller market is also anticipated to propel.
• For instance, in July 2022, Panasonic launched Capacitive Knob ready for Standard Touch Sensors. The Magic Knob is a capacitive rotary encoder containing mechanical rotation & push functionality that can be placed everywhere in the touch area to bridge the gap between touch and mechanical haptics.
• Touch screen displays are in huge demand across the world. First given a boost by iPhones and iPads, demand for touchscreen has been rising exponentially with almost every vendor launching its own version of smart devices. This growth is driving the touch screen controller market, with the increasing application of touch screens across the industries.
• Moreover, in July 2022, Dell launched its XPS 13 Plus 932 laptop powered by Intel’s 12 Gen core processor in India.
• Furthermore, the declining cost of consumer electronics, such as smartphones and tablet PCs, the growing adoption of simple user interface (UI), government initiatives toward E-learning education, and reduction in labor cost through self-service, have encouraged the usage of these devices in Japan.

Key Market TrendsConsumer Electronics is Expected to Hold the Major Share

• Consumer electronics is one of the market's most important and significant segments. The fast-paced demand from the segment for new and innovative products has seen touch screens being embraced by multiple products.
• Mobiles, wearables, tablets, laptops, and PCs are a few consumer electronic products that have adopted touch capabilities on a broader scale. Recently, products, such as washing machines, refrigerators, copiers, etc., have all been equipped with touch-enabled interfaces to offer a better consumer experience and create a differentiated demand.
• Moreover, in October 2021, Samsung launched the new 'Smart Touch Call' service, which will reduce customer wait time when they call Samsung's Customer Care to resolve their queries, allowing them to save time while managing their work and personal responsibilities from home, which seems further drive market growth.
• Furthermore, The Government of India launched the National Policy on Electronics, 2019, which aims to achieve a turnover of USD 400 by 2025. It is also aimed at the production of a billion mobile handsets by 2025, valued at USD 190 billion. In addition, India is also witnessing a surge in demand for high-end consumer electronics.
• The competition in the wearables segment is expected to grow as these devices have become more affordable. The device volume is expected to surpass the billion mark by the end of the forecast period. For instance, in April 2022, OnePlus launched its most powerful smartphone OnePlus 10 Pro 5G, in India. The smartphone is the successor to the OnePlus 9 Pro, launched in March last year. The handset is powered by a Snapdragon 8 Gen 1 chipset with up to 12GB of RAM.
• The proliferation of advanced and more flexible devices in the market contributes to market expansion as consumers increasingly adopt these devices. Foldable mobile phones are expected to increase competition in the market for controllers that support these systems. 5G devices are expected to sustain the growth of mobile devices and boost the demand in the market segment.

India is Expected to Register Significant Growth

• Significant growth in the electronics industry across India is one of the key factors creating a positive outlook for the market. Moreover, the widespread adoption of touchscreen panels in infotainment systems in automobiles, home appliances, and retail and banking kiosks will further drive market growth.
• Recently, the Ministry of Electronics & Information Technology released the second volume of the Vision document on Electronics Manufacturing in India, which stated that the electronics manufacturing industry will grow to USD 300 billion by 2025-26, from USD 75 billion in 2020-21.
• Furthermore, due to the enhanced industrial environment and investor-friendly policies, Samsung decided to relocate its display manufacturing unit from China to Noida. The company has invested almost USD 650 million in Noida. To attract Samsung's mobile and IT display production unit to Noida, the government gave special incentives to the tune of USD 61 million. This massive investment also created 500 direct and over 1,300 indirect jobs. Therefore, the growing investments related to display manufacturing in India will augment the demand for touch screen controllers in the country, thereby boosting the overall market growth.
• Moreover, according to IBEF, India, which is considered a popular manufacturing hub, has grown its domestic electronics production from USD 29 billion in 2014-15 to USD 67 billion in 2020-21. The electronics sector of India contributes around 3.4% of the country's Gross Domestic Product (GDP). The government has committed nearly USD 17 billion over the next six years across four PLI Schemes, semiconductors and designs, Smartphones, IT Hardware, and Components to boost electronics manufacturing in the country.

Competitive Landscape

The Asia Pacific Touch Screen Controllers Market is moderately fragmented. The companies keep innovating and entering into strategic partnerships to retain their market share.

• June 2022- Microchip Technology Inc. announced the maXTouch Knob on Display controller as the foremost automotive-grade touchscreen controller family to natively support the detection and reporting of capacitive rotary encoders and mechanical switches on top of a touch panel.
• April 2021- Microchip announces maXTouch MXT2912TD-UW touchscreen controller. The MXT2912TD-UW decreases the need for multiple touch controllers within a vehicle’s human-machine interface (HMI) display.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.