The global market for touch screen displays demonstrates a highly competitive landscape, thanks to the high level of rivalry between Fujitsu Ltd., 3M, Samsung, LG Electronics, and Panasonic Corp, finds a research report by Transparency Market Research (TMR).
While the established companies enjoy a widespread presence, the entry of new players is somewhat restricted in this market due to the need for high investments, limited technological competence, and the moderate scope for product differentiation for them. TMR recommends companies looking to venture into this market to involve into mergers and partnerships with established ones in order to get a foothold.
As per the estimations of this research study, the global market for touch screen displays presented an opportunity worth US$44.4 bn in 2015. Progressing at a CAGR of 8.90% during the period from 2016 to 2024, the market is projected to attain a value of US$93.8 bn by the end of the forecast period. Over the same period of time, the shipment volume is anticipated to increase at a CAGR of 10.70%. The retail kiosks segment has been registering a higher demand for these displays than other application segments and is expected to continue to do so over the forthcoming years, thanks to a large number of retail outlets spread across the world, states the report.
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Presence of Established Players to Ensure North America’s Dominance
The report also presents a regional analysis of the global touch screen display market. According to the study, North America, South America, Europe, the Middle East and Africa, and Asia Pacific are the main regional markets for touch screen displays. In 2015, North America acquired the lead in this market with a share of 35%. With the presence of a large pool of touch screen display manufacturers, this regional market is likely to remain leading throughout the forecast period. The technological developments in the field of touch screens are also expected to support the North America market for touch screen displays in the years to come.
Asia Pacific is also projected to witness a substantial rise in the demand for touch screen displays in the near future, thanks to the rising uptake of the latest technologies in various service industries, such as public transportation and airports. Economies, such as Japan, Malaysia, and Singapore are increasingly deploying touch screen kiosks at airports, railway stations, and public transport terminals, which is expected to reflect positively on the growth of the Asia Pacific touch screen display market, notes the research study.
Technological Advancements to Boost Market’s Growth
“The continual advancements in the technology and the increasing shift of consumers towards the latest ones are acting as the key factors behind the growth of the global touch screen display market,” states the author of the study. In order to meet the demands of consumers, touch screen display manufacturers are encouraged to include the newest forms of technologies, enhancing the usability of these displays, which eventually, is adding to their popularity substantially.
The cost-efficiency and operational ease provided by these displays are also projected to enhance their popularity, which is likely to boost the worldwide market for touch screen displays over the forecast period. However, the increasing raw material prices may limit the growth of this market to some extent in the years to come, states the research report.