Asia Pacific touch panel market to grow to $13.48 billion by year 2020
Thanks to the explosive growth of smartphones and tablets in Asia Pacific markets, the Touch Panel Market in this region is set to reach $13.48 billion business by the year 2020, registering a compound annual growth rate of 12.8% (2014-2020). According to the report published by ApacMarket.com, smartphone segment holds 70% of market share and is followed by tablet PCs.
China, with 57.65% of revenue market share is the undisputed leader right now and is expected to keep the position in the future too. In the future, ApacMarket is expecting smart watch, smart TV, industrial display segments to increase their share and exhibit growth of 41.9%. Coming to touch panels types, capacitive panels with One Glass Solution (OGS) will grow at a high pace and infrared tech is also expected to grow.
Key Findings:
- Asia-Pacific touch panel market would show significant growth due to increasing demand for smartphones and tablet PCs
- Application segment including smartwatch, smart TV, and industrial control panels would grow at fastest rate during 2014-2020 with a CAGR of 41.9%
- The declining cost of smartphones and tablets, and rising adoption of simpler UI devices would act as major drivers for the market
- New infrared technology is expected to commercialize in consumer electronics sector and to grow five-fold by 2020
