Innovations in Touch Screen Display Technology: Trends and Future Outlook
The touch screen display is widely used in different consumer electronics items such as smartphones, tablets, laptops, and others. These touchscreen displays are widely popular because it is very convenient for the user to interact with the device by just using a single touch on the screen. They can perform various functions for the user with a single touch and the UI or user interface of the device becomes more user-friendly to operate. The touchscreen display can be defined as the electronic display screen that can be used by the user to provide input into the device or can be used for receiving information from a single peripheral device.
This touchscreen display is attached to the top of the consumer electronic device and is an integral part of the whole device as it is the basic input or output component of the whole device through which the user can operate the device. The user of the touchscreen display consumer electronics provides input to the device through various hand gestures and using fingertips to touch pictures or moving elements on the touchscreen display.
These displays are widely adopted by major manufacturers due to the growing demand among the general public coupled with significant technological advancements in the touchscreen display that makes it even more appealing to the users which helps in propelling growth in the touch screen display market.
Global Production Trends
The production of touchscreen displays has been steadily increasing over the years and the industry has been booming in recent times with its applications increasing in demand. For instance, factors such as rapid growth in the consumer electronics industry that needs an interactive display screen for devices such as smartphones or tablets to make the user experience more efficient and enjoyable are making several consumer electronic manufacturers adopt these touchscreen displays into their devices to fuel the sales as these touchscreen smartphones are widely popular in the recent time which in turn boosts the demand for the production of these touchscreen displays significantly.
In recent years, there has been a notable increase in the production of touchscreen displays in emerging economies that has increased urbanization in several countries across the globe coupled with technological advancements in the consumer electronics industry that require touchscreen displays with interactive user interfaces to attract customers to buy their device.
These touchscreen displays have a diverse set of applications in consumer electronics from laptops to smartphones and can cater to all their needs according to their technology, for instance, the touchscreen display used in smartphones these days comes in wide variety according to different user budgets and clarity or resolution of the screen. The more money user spends on the smartphone device the better touchscreen display with higher resolution they will get. Therefore, touchscreen displays help different consumer electronics with different touchscreen display requirements to become more user-friendly and smooth to operate.
As touchscreen displays have so many features and benefits, the demand for them has seen rapid growth in various consumer electronics such as usage in touchscreen displays for smart televisions, and touchscreen displays for laptops. Various applications for different consumer electronic devices need efficient and smart touchscreen display solutions and recent technological developments in the touchscreen display provide products that are an ideal solution for the device according to the different needs of the different devices. Moreover, the need for touchscreen displays to speed up the production process of smartphone devices to meet the global demand with the increasing global population is predicted to proportionally boost the production for them as well.
Touchscreen display use case
The use of touchscreen displays in different industry verticals is a huge trend in the market these days as people are switching over to more efficient options for smooth functioning and creating an interactive experience for the user by using the touchscreen displays for different industry verticals and make the day-to-day operation of these devices integrated with touchscreen easy to operate.
Consumer electronics products such as smartphones or tablets are one of the fastest-growing users of the touchscreen display market among all the other users and other industries like the touchscreen displays installed in different automobiles for navigation and music. These touchscreen displays are widely used in different industries including the medical or healthcare industries where several medical devices are integrated with these touchscreen displays to make the operation of complex medical devices a little easier for the doctors or patients. Therefore, with a rise in demand in these end-user industries a lot of research and development is done to make lubricants suitable for them using higher olefins efficiently.
Some other use cases for touchscreen displays include the use of them in different public places such as fast food chains, metro stations, and airports to provide useful information to the users and the user can interact with these devices to get some information or place order or buy a ticket using these devices. These touchscreen displays are widely used in different industries and have increased in demand significantly over the years with a rise in the wide applications across different industries. For instance, in the global fast food chain McDonald’s they install a touchscreen display device at their restaurants through which customer can input their order and pay using internet banking at the spot and take their orders hassle-free directly from the counter.
The growth in the applications of touchscreen displays in consumer electronics worldwide has made the production of touchscreen displays much more prominent and increased in numbers over the years as these consumer electronics that are growing in demand rapidly need the suitable touchscreen display that is to be integrated with the device. This has led to significant growth in the production of touchscreen displays which has made it easier for different consumer electronic industries and manufacturers to produce different products like smartphones or tablets according to their needs easily and efficiently with efficient prices. Therefore, the growth in the consumer electronics industry will increase the utilization and production of touchscreen displays in the market significantly. For instance, according to the Invest India government website India’s domestic electronic goods production has grown at a CAGR of 13% from $49 billion in FY17 to $101 billion in FY23.
Figure 1: Growth in Electronic Goods Production in India, From FY17-FY23 (In Billion Dollars)
Source: Invest India
Market Dynamics and Drivers
Several factors drive the touchscreen display market, including a rise in applications for them across different industrial applications like consumer electronics and medical devices in recent times coupled with the rise in demand for automobiles that use interactive touchscreen displays for navigation purposes especially in the automatic EVs with self-driving features in the world with the rise in global population and disposable incomes in different countries across the globe has contributed significantly to boosting the overall touchscreen display market. So, with this rapid growth in automobile technology and popularity coupled with growth in demand for consumer electronics, the need for suitable touchscreen displays is rising proportionally.
The touchscreen displays are used to produce interactive consumer electronics devices and other devices that make it easy for the user to interact with the device by just using their fingertips or hand gestures to operate the device which is why it is widely popular among the general public and is growing in demand significantly.
Using touchscreen displays benefits different industries by producing high-quality electronic devices in automobiles the touchscreen used for navigation, tablets, smartphones, medical devices, and other industrial applications are now being created with high efficiency and quality of touchscreen displays. Therefore, with a rise in demand for these products in the market, the touchscreen display market is also predicted to grow.
The development and innovation in different consumer electronics made using new and innovative touchscreen displays across the globe is one of the growth factors in the touchscreen display market. The use of innovative touchscreen displays in the consumer electronics industry is significantly impacting the demand for touchscreen displays in the market.
For instance, Samsung which is a Korean consumer electronics-producing company makes a wide range of consumer electronics products like smartphones, laptops, tablets, and more. Each segment of consumer electronics contains a wide variety of models for each segment for different price ranges catering to different consumer needs. The growth in revenue generation of this company has seen significant growth over the years and with constant growth in the profits generated by companies like Samsung making consumer electronics the demand for touchscreen displays is expected to boost in the market.
Figure 2: Growth in Profits Generated, Samsung Electronics, From the Year 2021-23 (In Billions of Us Dollars)
Source: Samsung financial statements
Challenges and Constraints
Despite the huge advantages and use cases of touchscreen displays the companies that manufacture them require a lot of cost to acquire the material with growing economies and inflation the production cost is going up worldwide. This makes it difficult for the manufacturers to keep up with the new price ranges and provide efficient touchscreen display products like smartphones or tablets.
Also, while manufacturing these touchscreen display products manufacturers need to be very precise and highly concentrated because of the fragile and sensitive nature of the displays that can be broken if not handled with care. These constant changes make it difficult for the manufacturers to produce efficient products for the end-users. These factors are predicted to contribute to and affect the touchscreen display market negatively.
Key Developments
- In April 2023, HD Focus announced the launch of their new product which is a 43-inch interactive multi-touch table with high-definition screen resolution.
- In January 2023, Samsung Display announced that they developed the world’s first-largest OLED touchscreen display that can provide simplified design and productivity.
- In June 2022, ViewSonic announced the launch of their first portable touchscreen monitor with model number VP-16 OLED which has as the name suggests OLED technology integrated into the device.
In conclusion, the touchscreen display market presents significant opportunities for growth and innovation, driven by the increasing popularity of consumer electronics around the globe. While facing challenges such as fluctuation in material costs that negatively affect various industry verticals and huge investments for research and development for new and innovative touchscreen display solutions, the industry is poised to capitalize on technological advancements and innovations to meet the needs of a growing global demand for consumer electronics made from touchscreen displays.
