Touch Panel Market Growth and Forecast by 2031

The touch panel market size is projected to reach US$ 221.84 billion by 2031 from US$ 84.73 billion in 2023. The market is expected to register a CAGR of 12.8% in 2023–2031. The growing adoption of touch panels in the education and retail sector is likely to remain a key touch panel market trend.

Touch Panel Market Analysis

The touch panel market is growing at a rapid pace due to the growing adoption of touch technology in commercial spaces and expanding medical, retail, hospitality, and BFSI industries. The market is expanding steadily, driven by the growing digitalization and government initiatives to support digital education. Moreover, consumer preferences toward the adoption of technologically advanced solutions are providing lucrative opportunities for market growth.  

Touch Panel Market Overview

Touch panels are display technology that allows users to operate computers through direct touch. They consist of both an input device (the touch panel) and an output device (a visual display). These panels are widely utilized in a variety of digital devices, including smartphones, tablets, computer screens, and digital cameras, among others. The primary advantage of touch panels is their easy operation. They allow users to easily interact with devices using icons and buttons, even if they are unfamiliar with computers. Moreover, the growing demand for user-friendly devices in the industry is boosting the market.

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Touch Panel Market: Strategic Insights

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Touch Panel Market Drivers and Opportunities

Growing Adoption of Touch Technology in Commercial Spaces is Driving the Market

The rising installation of interactive kiosks, touch-based point-of-sale systems, and digital signage in a variety of industries, including retail, hospitality, and education, is driving the market. Touch panels are commonly used in commercial spaces, particularly meeting rooms and conference centers, for controlling audiovisual equipment, lighting, and collaborative tools. Businesses across the globe are integrating touch panels in commercial spaces to transform business operations by offering intuitive and engaging user interfaces. Growing demand and adoption of interactive screens in commercial spaces are fueling the market during the forecast period. This demand is attributed to the rising employee and customer engagement in commercial spaces for meetings, discussions, and data sharing.

Consumer Preferences Towards the Adoption of Technologically Advanced Solutions – An Opportunity in the Touch Panel Market

Technological advancements and shifting consumer preference towards the adoption of technologically advanced solutions are driving the market. Manufacturers are continuously engaged in improving the durability, multitouch capabilities, and touch sensitivity of touch panels to meet consumer demand for smooth user experiences. Additionally, incorporating cutting-edge technologies such as virtual reality (VR) and augmented reality (AR) in touch panels are creating opportunities in the market during the forecast period.

Touch Panel Market Report Segmentation Analysis

Key segments that contributed to the derivation of the touch panel market analysis are technology, product type, and application.

• Based on technology, the touch panel market is divided into resistive, capacitive, and infrared. The capacitive segment held a larger market share in 2023.
• In terms of product type, the touch panel market is divided into consumer and commercial and industrial. The consumer segment is segmented into smartphones, tablets, notebooks and PCs, LCD touch monitor, and others. The commercial and industrial are segmented into control panel, monitor and computers, kiosks, and others. The commercial and industrial segment held a larger market share in 2023.
• On the basis of application, the market is segmented into consumer, medical, retail, industrial, and others. The medical segment held the largest share of the market in 2023.

Touch Panel Market Share Analysis by Geography

The geographic scope of the touch panel market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

In terms of revenue, Asia Pacific accounted for the largest touch panel market share, due to the presence of a large number of manufacturers, including Samsung, FUJITSU LIMITED, Hitachi, Ltd, LG Display Co., Ltd., and others. These players are engaged in developing new innovative products to attract new customers across the globe. Moreover, rising urbanization, growing disposable income, and expanding retail industry are fueling the market in the region. A variety of touch panels such as kiosks, digital signage, and touch-based point-of-sale systems, are highly adopted by the retail industry for enhancing customers’ experience. These factors are anticipated to propel the market in the near future.

Touch Panel Market Regional Insights

The regional trends and factors influencing the Touch Panel Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Touch Panel Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Touch Panel Market Report Scope

Touch Panel Market Players Density: Understanding Its Impact on Business Dynamics

The Touch Panel Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Touch Panel Market are:

1. 3M
2. Samsung
3. Xenarc Technologies Corporation
4. Renesas Electronics Corporation
5. FUJITSU LIMITED
6. Advantech Co. Ltd

Disclaimer: The companies listed above are not ranked in any particular order.

Touch Panel Market News and Recent Developments

The touch panel market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for touch panel and strategies:

• In March 2023, SHARP CORPORATION and E Ink Holdings Inc announced their collaboration to bring ePaper posters using E Ink's technology to market. This partnership also supports SHARP CORPORATION to offer digital poster options to replace paper posters in locations where digital signage has been previously difficult to install. (Source: SHARP CORPORATION, Press Release, 2024)

Touch Panel Market Report Coverage and Deliverables

The “Touch Panel Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles