APAC is the largest market for touch controller ICs market. Factors such as increased sales of electronic devices. In addition, countries such as South Korea, Japan, China and Taiwan have the major display manufacturers in the region to promote touch controller ICs in smart devices and luxury cars, further driving the market growth.
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Vendor Insights
Global touch controller ICs is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
The growing competition in the market is compelling vendors to adopt various growth strategies such as developing advanced products to make competitors' products obsolete and non-competitive even before they are launched to improve the visibility of their services. Therefore, the vendors are not only focused on the advancement of technology in their products but also to keep ahead in the competition of emerging technologies to remain competitive in the market.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Analog Devices Inc.
- Cypress Semiconductor Corp.
- FocalTech Systems Co. Ltd.
- MELFAS Inc.
- Microchip Technology Inc.
- ROHM Co. Ltd.
- Semtech Corp.
- Silicon Laboratories Inc.
- Synaptics Inc.
- Texas Instruments Inc.
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Geographical Market Analysis
APAC will have major dominance in the global touch controller ICs market during the forecast period. According to our research report, the region will contribute to 43% of the global market growth and is expected to dominate the market through 2024. APAC will generate growth across all the years of the forecast period between 2019 and 2024.
Countries such as India and China are major contributors from the APAC region. These countries offer several cost benefits in terms of low land and labor for the automotive manufacturing companies. This is leading to several vehicle manufacturers establishing units in these countries.
On the other hand, APAC will emerge as the fastest-growing region of the touch controller ICs market. The APAC region has a high concentration of consumer electronics and device manufacturers.
Key Segment Analysis
The touch controller IC market share growth by the technology segment will be significant during the forecast period. There is a rise in the demand for touch-sensitive display. These displays are composed of two flexible coated sheets the resistive material and is separated by an air gap or microdots. These resistive touchscreens have a high resolution for providing accurate touch control. Moreover, resistive touchscreens are versatile as they can be operated by finger as well as by fingernails, a stylus, or any other object. Thus, advances in technology and sensitivity of screens are expected to drive the global touch controller IC market during the forecast period as compared with other segments.
Know more about this market's geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/touch-controller-ic-market-industry-analysis
Key Market Drivers & Challenges:
The rise in the sales of electronic devices is one of the key drivers for the touch controller ICs market share growth. The increasing demand for capacitive touch panels which is a controller display primarily using conductive human finger touch or specialized device for input into the smartphones and tablets is accelerating the growth of the touch controller ICs market. Moreover, market vendors are majorly focused on multi-touch technology for consumer electronics such as touch pens, stylus devices. Therefore, the rise in the demand for such smart electronics useable is estimated to boost the global touch controller ICs market during the forecast period.
The rise in competition among the vendors is a key challenge for the touch controller ICs market share growth. The market has the presence of several global and regional vendors, out of which the North American companies such as Synaptic and Cypress Semiconductors, Microchip Technology have dominated the market. However, the rise in the number of entrants from APAC region has further made the competition more intense. Also, the vendors in the market try to provide the devices at competitive prices leading to declining the ASP of the touch controller ICs. Thus, the intense competition among the market vendors is expected to hamper the growth of global touch controller ICs market during the forecast period.
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Touch Controller IC Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15% |
Market growth 2020-2024 |
$ 6.67 billion |
Market structure |
Fragmented |
YoY growth (%) |
15.12 |
Regional analysis |
APAC, Europe, MEA, North America, and South America |
Performing market contribution |
APAC at 43% |
Key consumer countries |
China, Taiwan, and South Korea (Republic of Korea) |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Analog Devices Inc., Cypress Semiconductor Corp., FocalTech Systems Co. Ltd., MELFAS Inc., Microchip Technology Inc., ROHM Co. Ltd., Semtech Corp., Silicon Laboratories Inc., Synaptics Inc., and Texas Instruments Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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SOURCE Technavio
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