Market Overview
The rise in demand for controlled electronic devices is growing higher in today's generation. The increased penetration rate of various electronic devices such as remote controls, tablets, and control panels of various appliances in the industrial and automotive sector is driving the Touch Sensors Market demand. Therefore, the automotive industry is the key driver of the market. The touch sensors are used to record and detect physical contact between a user and an electronic device to operate the device for the desired function.
Several growth factors are driving the growth rate of the Touch Sensors Market. The capacitive touch sensors have greater beneficial futures such as better durability, longer product life, better optical qualities when compared to other sensors. Therefore, it is largely driving the Touch Sensors Market demand worldwide. Moreover, increased integration of smartphones is another factor bringing up huge growth opportunities.
The Touch Sensor Market has reached a value of USD 4.5 billion in 2020. Further, it is expected to reach a good CAGR of 12.8% in the global market during the forecast period and register for a higher market share value worth USD 8.4 billion by the evaluation period.
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Market Segmentation
The Touch Sensors Market is segmented based on type and application.
The type segment of the market includes acoustic pulse recognition, optical imaging, capacitive sensor, infrared sensors, acoustic wave sensor (SAW), resistive sector. The capacitive touch sensors have wide applications, and they are used in light touch and good optics. While, the supercapacitor touch sensor has various industrial applications such as ATMs, ticketing machines, industrial automation, and control panels.
The application segment is classified into portable media devices, home appliances, gaming controllers, medical devices, etc.
Regional Analysis
The geographical status of the Touch Sensors Market shows the major regions covered by the market across the world, such as the North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and African region. The North American region holds the highest market share due to the presence of several major key players such as Microchip Technology, Atmel, Qualcomm Inc., Texas Instruments, ON Semiconductor, Honeywell, 3M, and others as well.
The Asia Pacific is considered the second largest market region due to the increase in the use of tablets and smartphones in association with early technology, which is driving the regional market. The rise in per capita income is another contributing factor to the region.
The European market holds the third-largest market share due to its rapid growth and increase in demand for smart grids, and well-established technology infrastructure drives the regional market.
The Latin American region and the Middle East and Africa region hold the least share due to low infrastructure in these regions and lower per capita disposable income, hampering the market's growth rate in this region.
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Industry News
In April 2020, Infineon Technologies AG was acquired for a sum of USD 10.8 million by Cypress Semiconductor Corporation. This will help the company broaden the portfolio for becoming a leader in the future IoT and industrial market.
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