Touch Panel Market is expected to reach US$ 137.1 Bn by 2027

According to our latest market study on “Touch Panel Market to 2027-COVID-19 Impact, Global Analysis and forecast by Technology (Resistive, Capacitive, Infrared); Product Type (Consumer, Commercial and Industrial); Application (Consumer, Medical, Retail, Industrial, Others); and Geography,” the market was valued at US$ 59.06 billion in 2019 and is projected to reach US$ 137.1 billion by 2027; it is expected to grow at a CAGR of 12.0% from 2020 to 2027.

APAC held the largest share in the global touch panel market owing to the widespread penetration of smartphones and e-learning in various countries of the region. The presence of some of the well-known manufacturer of the touch panel in the region such as AU Optronincs, J-Touch Corporation, Fujitsu, and Digitech Systems is the major driving factor for the growth of touch panel market in the APAC countries. In terms of market share, North America, Europe, and MEA held the second, third, and fourth place respectively in 2019.

North America is another crucial market for the growth of touch panel market during the forecast period. The penetration of smartphones in the US is resulting to rising disposable income of individuals and changing lifestyle. Booming sales of smartphones, adoption of wearables, laptops, tablets, touch screen LCD monitors, and kiosks is also propelling the growth of the market.

Giving a market of smartphone a rise, growing availability of 4G connectivity throughout the US is playing major role. This factor will contribute in making the touch panel market to grow. Faytech North America, and Unytouch are some of the companies involved in touch screen technology business.

Significant expenditure on consumer electronic users in Europe will impact the penetration rate of smartphones. The significance of electronic computing & related devices is becoming popular as use of eReaders, smartphones, laptops, and virtual reality headsets is rising. Moreover, factors such as, growing digitalization, ecommerce, social media, online advertising and mobile, the adoption rate of smartphones, LCD Touch Monitor, tablets, and monitor & computers by commercial and regular consumer is more. This factor will boost the business of touch panel.

The growth outlook of touch panel in all the major geographic regions estimated to be quite positive during the forecast period. However, the growth rate will be affected in the year 2020 and 2021 due to the COVID-19 outbreak across the globe. The mass lockdowns, travel bans, and business shutdowns across all countries are affecting the global supply chains and business activities and thus affecting the revenues and growth of companies operating in the global touch panel market. Hence, this outbreak may act as restraining factor and affect the revenues and growth of touch panel market in 2020 and 2021. However, the overall growth is anticipated to be positive during the forecast period.

Impact of COVID-19 on Touch Panel Market

According to latest situation report from World Health Organization (WHO), the US, Spain, Italy, France, Germany, UK, Russia, Turkey, Brazil, Iran, and China are some of the worst affected countries due to COVID-19 outbreak. The outbreak first began in Wuhan (China) in December 2019 and since then it has spread at a fast pace across the globe. As per latest WHO figures for 29th May 2020, there are around 5.70 million confirmed COVID-19 cases globally with ~3,57,688 deaths and the number is growing at varying rates in different countries. The COVID-19 crisis is affecting the industries worldwide and the global economy is anticipated to take a worst hit in the year 2020 and likely in 2021 as well. The outbreak has created significant disruptions in primary industries such as electronics & semiconductor, and consumer electronics industry among others. The sharp decline in smartphones and tablets manufacturing industry is impacting the growth of global touch panel market. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat the outbreak have impacted the consumer electronics manufacturing.

Touch Panel Market - Geographic Breakdown, 2019

The report segments the global touch panel market as follows:

• Resistive
• Capacitive
• Infrared

• Consumer
  • Smartphone
  • Tablets
  • Notebooks & PCs
  • LCD Touch Monitor
  • Others
• Commercial & Industrial
  • Control Panel
  • Monitor & Computer
  • Kiosks
  • Others

• Consumer
• Medical
• Retail
• Industrial
• Others

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC
• Middle East and Africa (MEA)
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of SAM