Touch Screens and Future Market Trends: What to Know About Projected Growth in Touch Screen Tech.
While pre-pandemic attitudes, restrictions, and general anxiety may be over, one thing has made a lasting impact and continues to be on the rise: technology consumerism and the demand for their alike information technology (IT) systems.
According to recent data published by Statista, global IT spending on devices such as PCs, tablets, mobile phones, data center systems, and communication services came to around 4.26 trillion US dollars in 2021. This trend of substantial growth and expansions is expected to continue with sharp increases, with an estimated 4.66 trillion for the 2023 calendar year. Devices and products in particular account for just under 1/3 of total spending, with about 735 million in total spending and distribution. Investors and budgeting analysis play a pivotal role in the development of new technology and public access, including private sectors, government, and nonprofit groups.
As digital transformation continues to evolve and become more integrated into everyday life, overall global spending within businesses and government not only require physical devices and tools, but also the foundation to support and store them. Technology competence, which can be illustrated through the convergence of technology and business strategies, remain an important factor in technological advancement and access. How both the general public and private businesses will adapt to this new age of technology advancement and accountability will determine the benefits or downfalls of such unlimited accessibility and capabilities.
As of 2022, an estimated 1.43 billion smartphones have been shipped and sold all around the world. By the end of 2020, it was projected that almost 80% of the world’s population were smartphone users, with an anticipated 7.7 billion by 2027. Newly developed and innovative programming allowing users to scroll, zoom, pinch, and softly tap a wide variety of touch screen friendly devices such as phones, tablets, TV’s, and more have drastically shifted business budgets and strategies to include this newly adapted and widely accept technology across almost any industry domestically and globally.
So, what does that mean for emerging technology and IT services, such as touch screens and electrical displays? Read more about current trends and predictions regarding technological development and sustainability within the realm of touch screen and display market industries.
How Will Current Trends and Future Projections Predict Technological Advancement?
Valued at over 4.26 trillion in global market share, touch screen and display solutions prepare to dominate the world in almost all personal and professional industries.
As digital transformation continues to evolve, overall global spending within business and government not only require physical devices and tools, but also the foundation to support and store them. Affiliated device services and tools such as data centers, process automation, and artificial intelligence will continue to shape the way businesses interact and invest in new technology as well as the overall increase in production and consumer demand within the general public. Technology competence, which can be illustrated through the convergence of technology and business strategies, remain an important factor in technological advancement and access across all fields, industries, and influential markets who participate, invest, or develop as new technology emerges. In general, these processes and procedures are expected to grow as fast if not more then their device-driven counter parts of which are directly empowered by strategic spending and development in retrospect to its responsive IT solutions.
Although major economies are bracing for a slight dip in overall growth due to adjusted COVID-19 post-pandemic impact, the overall interest and investment into new technology and their affiliated services show no sign of slowing down any time soon. Now more than ever, individual businesses and government institutions are allocating more of their budget to invest in the best technology with the most innovative processes in an effort to keep up with the times. These investments foster substantial growth in relationship to both internal operations and external influence, locally and globally. Companies rely on innovation and the latest technological advancement to improve individual business application, overall customer experience, and stay relevant in light of competitors. These smart investments in technology help companies remain agile, adaptive, and contemporary in a fast-paced and evolving global technological market. Although general practices and standards can be applied to companies and business in an overreaching sense, these individual investments and demands remain largely specific and definite.
Depending on the industry and primary service demographic, each business offers a different perspective and priority when it comes to investment spending and technological development. While the primary objective over all is to increase productivity and make strategies more efficient, how this looks mainly depends on individual needs and goals. Technology in this sense can include a wide variety of innovative products, services, and tools ranging from physical devices to supportive IT collaboration. Artificial intelligence, cloud computing, and blockchain can secure mechanical and industrial operations while contemporary hardware, products, and services can provide cutting-edge advantages to individual customers and competitor engagement. According to a recent article published by MENAFN, the global touch screen display market size is estimated to grow from 65.60 billion in 2021 to a staggering 163.1 billion by 2030. At a Compound Annual Growth Rate (CAGR) of 8%, this increase in touch screen and display market growth remains highly relevant in a wide range of industries, including commercial, residential, transportation, education, retail, entertainment, hospitality, and industrial. As North America continues to dominate the touch screen and display market, intensive public demand and increased development provide major opportunities for Asia and the Middle East.
Touch screen displays have now merged its accessibility and capabilities into everyday life through almost every aspect, including mobile phones, computers, ATM’s, automation equipment, and much more. Contrary to their outdated competitor, which relies on a traditional key combination input point, touch screen displays utilize specialized grid technology integrated with infrared beam protocols to detect the presence of touch and human fingerprints. Touch screens have dramatically increased in popularity within consumer electronics and industrial application specifically in the last 10 years in part with adaptive technological advancement in production and manufacturing. Their popularity centered around adaptability, versatility, and cost-effectiveness continue to entice business from all avenues when upgrading outdated systems of investing in new technology. Expanding access and cost convenience have made touch screens one of the biggest projected trends in big tech to date. Easy integration and hybrid traditional-to-touch models have made the transition even more relevant as companies continue to predict upcoming innovation and business development that could set them apart from competitors and provide that extra edge.
How Will the Touch Screen and Display Markets Influence Upcoming Tech. Trends?
More accessibility, cheaper production, and wide-spread acceptance offer business integration for the touch screen market in almost every avenue across the world.
Generally speaking, touch screens can be segmented into prospective categories based on their function and capabilities. These often include capacitive touch screens, resistive touch screens, surface acoustic wave touch screens, and infrared touch screens. Among these options, two categories in particular set to provide the most influence within the public sphere and business world. While infrared touch screens are projected to grow mostly related to individual consumerism and product development, the abilities of capacitive touch screens in business and manufacturing settings have begun to entice emerging and well-established companies alike. In relationship to capacitive touch screen displays, this advanced technology offers all the standard features associated with standard touch displays, but with additional advantages compared to its closest counterpart that offer extended features and programming.
Capacitive touch screens are well known and support a wide variety of exclusive features beneficial for the general public and exclusive business applications. While all touch screens have integrated display capabilities, capacitive touch screens support high resolutions for superior viewing and detail. This is important in detail-oriented environments who rely on accurate coloring, specifications, and image quality. Another exclusive feature includes its operational method. Unlike other touch screens that require individual moving parts and hardware, capacitive touch screens use a non-mechanical method of operation, leveraging capacitance through internal software in contrast to mechanical touch commands. When in use, these touch screens produce a uniform electrostatic field that is constantly measuring its own internal electrostatic filed while also looking for changes in capacitance related to touch. When the screen is tapped or touched upon the designated display interface, the users ultimately change its internal capacitance which register changes in application and touch commands. This calls for fewer parts and maintenance while making system programming more seamless and affordable. Additionally, these touch screens feature a top layer made of tempered scratch-resistant glass that won’t develop scratches over time. Even through repeated and constant use, they can withstand above-average use without losing their transparent and pristine top layer. Capacitive touch screens are also distinctive in their ability to offer multi-touch commands, which increases performance and points of contact. While you can perform traditional touch commands on standard touch screen displays, capacitive touch screen allow the ability to touch multiple areas of the display interface at one time. Lastly, these touch screens can support specific nonconductive touch as opposed to traditional touch screens which rely on conductive transfer to register and apply function. Other touch screens rely on not just screen contact pressure, but also conductive energy to alert and change the screens appearance and function. Certain nonconductive objectives, such as thin surgical gloves, making this a highly useful tool in many manufacturing and health care settings when PPE is being used and cannot be removed for safety protocols and protection.
Use of touch screen displays in major control panel systems, medical equipment, and industrial automation make their popularity widespread and in high demand. Touch screen displays are also categorized based on the display segmentation including LCD, LED, and OLED. LED segment is the fastest growing with the most significant CAGR forecast in the foreseeable future, dominating over half of the current market. Used in mobile phones, tablets, gaming consoles and more, LEDs are best known for its flexibility, energy efficiency, and high-end specification display features that interest public consumers and private business owners. Based on general application within a global scale, the rise in touch screen displays is projected to grow substantially as its advanced features and integrated segment capabilities become more common in smartphones, tablets, smart TVs, consume electronics, professional application, and more. Increased demand, accessibility, usability, and urbanization are key factors that have driven and continue to project growth in the touch screen display market.
Globally, the touch screen display market can be broken down into primary individual and industrial categories. These include commercial, residential, transportation, education, retail, entertainment, healthcare, and industrial automation. Recent developments and innovation involving the scratch-resistant and multi-touch screen display technology, as demonstrated in capacitive touch screens, are expected to increase growth in both the public and private sector. North America continues to dominate the market share in relationship to availability and consumer demand given the rising popularity of smartphones, abundance of raw materials, and public acceptance and assimilation of advanced technologies. To expand on even basic touch screen displays and products, the recent advancement of infrared touch screen displays, face identification, and gesture-sensing technology have the potential to increase global influence even more. While North America is estimated to continue its dominance in the primary global market share, potential countries including China, Japan, India, and South Korea have now entered the arena to get their own piece of this progressive technology. Increased consumer practices and the adoption of widespread smartphone use remain key factors in growth related to the Asia-Pacific market. Europe is also projected to increase its overall market share in relationship to industrial demand and educational use. Leading companies currently responsible for the biggest increase in the touch screen display market globally include 3M, Samsung, Microsoft, and LG. As new technology and fresh opportunities continue to transform, shifts in global and corporate dominance will continue to shift with public and popular demand.
Conclusion: The Impact of Touch Screen and Display Markets Are on a Steady Rise with No Sign of Stopping
Given the recent trends in technological consumerism and global market analysis, it’s safe to say that overall interest and increased demand surrounding the capabilities of touch screen displays will only continue to growth and expand for the foreseeable future. A combination of increased technological advancement, public demand, and business innovation have shifted this new technology from a passive and expensive luxury to an accessible and necessary investment.
Accessibility, acceptance, and affordability offer a new landscape for touch screen displays in their ability to change and integrate its functions and performance across almost every industry in the world. As post-pandemic spending and strategies propel forward to determine the next big trend in public interest and business demand, it remains clear that touch screens will only become bigger, more interactive, and less expensive as it influences and assimilates within societies and cultures across all walks of life.
Automation Displays, Inc. is Your Industry Leader in Touch Screen Technology and Innovation
Automation Displays, Inc. is an industry leader in custom touch screen and display solutions, specializing in a wide variety of industries including manufacturing, industrial automation, fire safety, detention and security, environmental, and much more. With our on-site team of software, electrical, and manufacturing engineers, your next project solution will be fully comprehensive and customizable. We specialize in the most innovative infrared touch screen technology to provide clean and clear graphics for informational displays. From standard design to personalized projects, ADi gives you the tools and team to get it done right. Our commitment to unmatched accommodation, simplicity, and forever support have made us the automatic choice for integrators worldwide.
Request a free demo or visit us online to learn more about our loyal brand heritage and custom design capabilities for your next electrical control panel or custom display solution!
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Published March 30th, 2023
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