Multi-touch Technology Market Size

Multi-touch Technology Market Analysis

The Multi-touch Technology Market is expected to register a CAGR of 13% during the forecast period.

The increasing utilization of intelligent electronic displays, such as smartphones, tablets, and laptops, has formed a predominant share of these products in the multi-touch technology market. The growing focus on multi-user displays, such as vertical screens and multi-touch tablets, enables market growth.

• Another factor driving the market growth during the study is the increasing use and adoption of multi-touch screen devices. The creation of new touchscreen applications will be a driving factor in market demand growth. The rising popularity of Apple's iPad and the enormous growth potential of Android-based tablets have prompted several major PC and mobile original equipment manufacturers to enter the tablet market. The main factors driving the overall market demand are the growing acceptance of touch panel displays and an increase in the number of electronic devices.
• Furthermore, the introduction of low-cost multi-touch screen displays with enhanced sense capabilities is boosting the market growth. Furthermore, rising product utilization in retail and media applications for customer engagement and branding is boosting the market growth.
• Additionally, the retail industry uses interactive multi-touch displays for branding and customer engagement strategies in developed regions, such as North America and Europe. Interactive kiosks and table displays are examples of multi-touch technologies in these markets.
• Factors such as the higher cost of panels, lack of availability of raw materials, and fluctuation in their prices are among the major factors challenging the market's growth. However, to counter such challenges, major original equipment manufacturers (OEMs) are establishing their units in developing countries, as they provide cheap labor and raw materials at a lower cost.
• The outbreak of COVID-19 disrupted supply chains for manufacturers of touchscreen displays or kiosks, especially during the initial phase. Additionally, stringent measures taken to contain the spread of the virus caused a significant drop in global commercial activities, affecting the demand from the retail, transportation, hospitality, sports, and entertainment sectors, as well as global economic growth, stifling the development of the multi-touch technology market. However, with the economy worldwide back on track and demand across all sectors gaining momentum again, the studied market is also expected to grow gradually.