The multi-touch equipment market is witnessing severe competition and the vendors in the industry are adopting several strategies such as product developments and mergers to gain a competitive edge. The major companies such as Microsoft and Apple are investing in R&D and filing for patents to secure a considerable industry share.
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Multi-Touch Equipment Market is projected to surpass USD 20 billion by 2024.
APAC multi-touch equipment market will grow considerably due to the high production capacity of the region. Growing retail and entertainment sector in this region is providing growth opportunities for the industry due to technological adoptions. The players in the region are expanding their businesses in light of the growing demand for these components. For instance, in 2015, MultiTouch Ltd., a leader in interactive display systems, announced the opening of new offices in the region. The company also announced the launch of permanent MultiTaction iWall, a multi-touch wall.
The multi-touch equipment market is expected to demonstrate a steady growth due to growing penetration of intelligent kiosks. Several industries including retail and hospitality are implementing intelligent kiosks with the technology to increasingly attract customers. For instance, in August 2018, McDonald's is implementing self-ordering kiosks with multi-touch displays as cost-effective solutions. Such strategies will provide growth opportunities for the multi-touch equipment market growth.
Growing penetration of touch panel displays in consumer electronic devices such as smartphones and wearable devices will propel the growth. The demand for easier and more intuitive technologies in several digital devices is increasing rapidly. The increasing need for miniaturization of electronics and advancements in sensing technologies will increase the demand.
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Key players in the multi-touch equipment market include: 3M, Displax Interactive Systems, Fujitsu Limited, Cypress Semiconductor Corporation, Immersion Corporation, Jtouch Corporation, Synaptics, Inc., Samsung Electronics Co., Ltd., Panasonic Corporation, Apple, Inc., Microsoft Corporation, Wintek Corporation, and U-Touch UK.
The high cost of these components will be one of the key factors challenging the multi-touch equipment market growth. Lack of availability of raw materials required to manufacture these components attribute to the high manufacturing costs. For instance, the Magic Mouse introduced by Apple costs about USD 129.
The multi-touch equipment market will establish opportunities in entertainment applications due to the increasing adoption of these components in gaming consoles and joysticks. Several players are focusing on developing products to deliver technologically-advanced products in the sector. For instance, in March 2017, Sony Corporation introduced its Xperia Projector equipped with a myriad of sensors that provide newer ways of communication & interaction. The device allows projection onto interactive multi-touch screen walls or tables for movie & gaming applications.
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