Capacitive Tactile Sensor Market Research, 2031
The global capacitive tactile sensor market was valued at $3.87 billion in 2021 and is projected to reach $10.68 billion by 2031, growing at a CAGR of 10.7% from 2022 to 2031.
A capacitive tactile sensor is also known as a capacitive touch sensor is an enhanced sensing technology designed to capture and document physical contact with an object. A capacitive touch sensor allows a gadget to detect the presence or closeness of a general human user or operator. Further, capacitive sensing technology is based on capacitive coupling. It is capable of detecting and measuring anything conductive or having a dielectric difference with air.
In addition, capacitive sensors are made from a variety of materials, including copper, indium tin oxide (ITO), and printed ink. Moreover, the rise in utilization of next-generation Internet of Things solutions across industrial and automotive sectors has driven the growth of the capacitive tactile sensors market.
The capacitive tactile sensor market share is expected to witness notable growth during the forecast period, owing to the rise in the adoption of touch-based display solutions. Furthermore, an increase in demand for consumer electronics applications has driven the capacitive tactile sensor market growth. Moreover, a rise in government initiatives for digitalization is expected to propel the capacitive tactile sensor size growth during the forecast period.
However, the short supply of indium tin oxide, coupled with the lack of availability of a skilled workforce are some of the prime factors that restrain the capacitive tactile sensor market. On the contrary, the surge in industrial applications of touch-based panels and equipment is expected to provide lucrative opportunities for the growth of the capacitive tactile sensor market size during the forecast period.
The outbreak of COVID-19 has significantly impacted the growth of the capacitive tactile sensor solution in 2020, owing to a significant impact on prime players operating in the supply chain. However, the rise in demand for Internet of Things solutions across prime sectors is one of the major factors that propel the capacitive tactile sensor market forecast during the COVID-19 pandemic. On the contrary, the market was principally hit by several obstacles amid the COVID-19 pandemic, such as a lack of skilled workforce availability and delay or cancelation of projects, owing to partial or complete lockdown, globally. Furthermore, the surge in demand for Internet of Things-based touch solutions across industrial and automotive sectors is expected to strengthen the capacitive tactile sensor market opportunity post-COVID-19.
The capacitive tactile sensor market is segmented into Type and Application.
On the basis of type, the capacitive tactile sensor market overview is divided into surface capacitive tactile sensors and projected capacitive tactile sensors (GRID type and wire sensing type). The surface capacitive tactile sensor segment dominated the market, in terms of revenue, in 2021, and is expected to follow the same trend during the forecast period.
By application, the market is bifurcated into consumer electronics (portable devices and home applications), automotive, industrial, and others. The consumer electronics segment acquired the largest share in 2021 and the BFSI segment is expected to grow at a high CAGR from 2022 to 2031.
Region-wise, the capacitive tactile sensor market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Netherlands, and the rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and the rest of the Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific, specifically China, remains a significant participant in the global capacitive tactile sensor industry. Major organizations and government institutions in the country are intensely putting resources into technology.
Competitive analysis and profiles of the major capacitive touch sensor market players that have been provided in the report include, such as Analog Devices, Inc., Azoteq, Cypress Semiconductor Corporation, and Integrated Silicon Solutions, Inc., Microchip Technology, Inc., Micro-Epsilon, NXP Semiconductors N.V., Ohmite Mfg. CO., OMRON Corporation, Renesas Electronics Corporation, ROHM Semiconductor, Semiconductor Components Industries, LLC, Semtech, Silicon Labs, Texas Instruments Incorporated, and 3M.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the capacitive tactile sensor market analysis from 2021 to 2031 to identify the prevailing capacitive tactile sensor market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the capacitive tactile sensor market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global capacitive tactile sensor market trends, key players, market segments, application areas, and market growth strategies.
Capacitive Tactile Sensor Market Report Highlights
Key Market Players
Texas Instruments Incorporated, ISSI, NXP Semiconductors N.V., ON Semiconductor, 3M, Renesas Electronics Corporation, Cypress Semiconductor Corporation, Microchip Technology, Inc., Schneider Electric, Micro-Epsilon, Analog Devices, Inc., Infineon Technologies AG, atmel corporation, Semtech Corp., ROHM Semiconductor, OMRON Corporation
Capacitive tactile sensor technology is witnessing a significant rise in consumer electronics applications such as smartphones, laptops, and other portable devices. Surface capacitive and projected capacitive are two forms of capacitive technology. Surface capacitive is used in ATM and factory automation applications, although the demand is restricted. The number of capacitive touch screens has increased substantially since projected capacitive was created and began to be used for smartphones. In addition, the rise in demand for the Internet of Things, smart infrastructure, and artificial intelligence solutions across the automotive, industrial, and healthcare sectors is anticipated to drive growth of the capacitive tactile sensor market in the coming years.
The global capacitive tactile sensor market is highly competitive, owing to the strong presence of existing vendors. Capacitive tactile sensor vendors, who have access to extensive technical and financial resources are anticipated to gain a competitive edge over their rivals as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with an increase in technological innovations, product extensions, and different strategies adopted by key vendors.
The rise in demand for consumer electronics globally drives the need to enhance capacitive tactile sensor solutions such as in-home systems and mobile systems. Moreover, prime economics, such as the U.S., China, South Korea, and Japan plans to develop and deploy next-generation capacitive tactile sensor-based applications across various sectors.
Among the analyzed regions, Asia-Pacific exhibits the highest adoption rate of capacitive tactile sensors and has experienced a massive expansion of the market. On the other hand, North America is expected to grow at a faster pace, predicting lucrative growth, owing to emerging countries, such as the U.S., Canada, and Mexico, investing in these technologies. Regions, such as the Middle East and Latin America, are also expected to offer new opportunities in the capacitive tactile sensor market.
Key players profiled in the report include Analog Devices, Inc., Azoteq, Cypress Semiconductor Corporation, Integrated Silicon Solutions, Inc., Microchip Technology, Inc., Micro-Epsilon, NXP Semiconductors N.V., Ohmite Mfg. CO., OMRON Corporation, Renesas Electronics Corporation, ROHM Semiconductor, Semiconductor Components Industries, LLC, Semtech, Silicon Labs, Texas Instruments Incorporated, and 3M.