The global touch screen display market is displaying robust growth thanks to technological advancements and the widespread adoption of advanced technology for enhanced customer experience. Touch screen displays are gaining popularity due to the ease of use that does not require any formal training. Touch screen allows users to interact directly with the display on the screen without the need for an intermediate device such as a mouse or touchpad.
As per a recent market study by Transparency Market Research, the global touch screen display market is projected to rise at a CAGR of 8.90% between 2016 and 2024 to increase from US$44.4 bn in 2015 to US$93.8 bn by 2024.
In this blogspot, analysts at TMR provide answers to some of the pertinent questions about the developments in the global touch screen display market in the coming years;
Q. What are the major factors stoking growth of the global touch screen display market?
A. The continual advancements in technology along with increasing shift of consumers towards latest technology are acting as the major factors driving the growth of the market. To cater to the increasing demand for easy to use high-end products, touch screen display manufacturers are including newest forms of technologies, which is adding to the popularity of touch screen displays.
Q. How are regional markets faring in terms of growth in the touch screen display market?
A. North America currently dominates the global touch screen display market, the region held a share of 35% in the global market in 2015. This is on the backdrop of technological advancements and high affordability of electronic devices in the region. Due to the presence of a large number of touch screen display manufacturers in the region, analysts expect it to retain its dominant position in the coming years.
Get more information from Research Report Press Release: http://www.transparencymarketresearch.com/pressrelease/touchscreen-technology-market.htm
Asia Pacific is also expected to emerge as a significant market for touch screen displays thanks to the increasing uptake of advanced technologies for high-end product offerings and enhanced customer experience across the service industry. Countries such as Singapore, Malaysia, and Japan are increasingly installing touch screen kiosks at public transport terminals, airports, and railway stations, which is expected to have a positive influence on the growth of the touch screen display market in Asia Pacific.
Q. Which application segment is having the most positive influence on the growth of this market?
A. Retail kiosks display the highest demand for touch screen displays over other application segments due to an increasing number of retail outlets across the world. Retail kiosks at public transport terminals and shopping centers are mostly sought after for tickets, refreshments, and newspapers which is expedited using technological solutions and for enhanced customer experience. With the increasing number of retail outlets, the demand for retail kiosks is also on the rise.
The ATM application segment is also expected to display a strong demand for touch screen displays thanks to the increasing installation of ATM kiosks in emerging economies of Asia Pacific and the Middle East and Africa.