Global Touch Screen Display Market: Overview
Touch screen displays use resistive touch, capacitive touch, surface acoustic wave, and infrared technology to act as an interface between service providers and end-users. Touch screen displays act as an interaction point between various service providers and their end-users and help in enhancing and simplifying user experience besides reducing labor costs for service providers. Touch screen displays are majorly deployed in retail outlets, gas pumps, automated teller machines (ATMs), tradeshows and exhibitions, public transit stations, and in sports arenas. The global touch screen display market has been showcasing considerable growth potential owing to the rise in need for reduction of growing labor costs. Reduction of labor costs is a growing concern for both large and small organizations. The deployment of touch screen based machines eliminate the need for labor in such cases.
Additionally, as a result of being habituated to using touchscreen smartphones, users find touch screen displays and kiosks user-friendly. This aids in enhanced user experience owing to their familiarity with the technology. This is significantly contributing towards the growth in demand for touch screen displays across industry verticals. Also, technological advancements have led to the replacement of traditional interactive displays with touch screen displays, thus increasing the demand for touch screen displays. However, the rising costs of raw materials due to their sparse availability is expected to hinder the growth of the global touch screen display market during the forecast period from 2016 to 2024. Nonetheless, the introduction of multi-touch technology in touch screen displays and customizable touch screens is expected to offer considerable growth opportunities during the forecast period.
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Continued Demand from Retail Kiosks
Gas pumps, retail kiosks, public transport kiosks, automated teller machines (ATMs), car wash centers, sports arenas, trade shows and exhibitions, parking terminals, and medical equipment are the main application areas of touch screen displays. Among these, the retail kiosks segment reports a higher demand for these displays than other application segments due to a large number of retail outlets all over the world.
As the number of retail outlets continues to increase, the demand for kiosks is also increasing significantly. Retailers are increasingly adopting advanced technologies in a bid to enhance customers’ engagement. As a result, retail kiosks are likely to remain the dominant application segment of touch screen displays over the next few years. The ATMs segment is also projected to register a strong presence in the years to come, thanks to the rising deployment of ATMs in emerging economies in Africa, South America, and Asia Pacific.
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North America to Remain Market Leader
Geographically, the worldwide market for touch screen displays is spread across North America, South America, Europe, the Middle East and Africa, and Asia Pacific. With a share of 35.0%, North America led the global market in 2015 on the backdrop of technological developments and the high price of electronic equipment. As the region enjoys the presence of a large pool of established players, Researchers anticipate it to remain leading over the forthcoming years.
Other regions, such as South America, Asia Pacific, Europe, and the Middle East and Africa are also projected to witness increased demand for touch screen displays in the years to come, thanks to the rise in the deployment of touch screen retail kiosks and ATMs.