Touch sensors help detect the presence of nearby objects without relying on any physical contact.
The COVID-19 pandemic has had a negative impact on the global touch sensor market. With governments imposing lockdowns and strict social distancing standards, consumer electronics manufacturing factories have been forced to work temporarily or shut down permanently.
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This affected the demand for touch sensors and in turn negatively impacted the overall touch sensor market.
However, with the reduction in cases and the availability of vaccines, the demand for touch sensors is expected to rise again and the touch sensor market is expected to witness steady growth in the future.
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Touch Sensor Market Trends and Opportunities
Growing demand for portable devices such as laptops and mobile tablets is the major growth driver for the global touch sensor market.
Moreover, the increasing deployment of touch services in industries to automate the production process is expected to fuel the demand for touch sensors in the coming years.
Products such as capacitive touch sensors offer features such as improved durability, longer service life, and improved optical features, which are expected to enhance product demand and contribute to the growth of the overall touch sensor market.
Moreover, touch sensors are cost-effective in nature, which could also have a positive impact on product demand in the coming years.
The resistive product type segment is expected to contribute the most to the overall touch sensor market, owing to an expected increase in the deployment of resistive touch sensors for industrial purposes, due to its high durability rate.
The consumer electronics application segment is expected to make the largest contribution to the overall touch sensor market owing to the increased demand for smartphones and tablets, among different sections of the population.
Competitive Landscape of Touch Sensors Market
The global touch sensor market is fiercely competitive, with the presence of several well-known players. These players are expected to adopt different product strategies such as new product launches, with the aim of remaining competitive in the overall touch sensor market.
Accordingly, the major players in the touch sensor market are expected to focus on research and development activities, with the aim of producing improved product quality, which would meet customer requirements and also increase the consumer base.
Lesser-known players in the touch sensor market will seek investment from governments and other private investors, which could play a key role in their long-term growth.
Some of the key players in the global touch sensor market include Texas Instruments Inc., Siemens AG, Cypress Semiconductor Corp., 3M Touch Systems Inc., Honeywell International Inc., and DMC Co. Ltd.
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Regional Assessment of the Touch Sensor Market
The global touch sensor market is segmented into five regions, namely North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
North America and Asia-Pacific are expected to account for a major share of the global touch sensor market in the coming years owing to the increasing deployment of touch sensors in consumer electronics manufacturing in countries such as the United States USA and China.
The presence of research and development centers to produce better quality touch sensors is expected to drive the touch sensor market in North America.
Market players may also establish R&D centers in Asia-Pacific countries such as India due to an easy availability of resources such as land.
Europe is expected to witness significant growth in the touch sensor market in the coming years owing to the rapid research and development ventures seen in countries such as Germany and the UK.
Other regions such as Latin America, Middle East and Africa are expected to witness moderate growth in the global touch sensor market in the coming years.
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