Multi-Touch Equipment Market growth will be propelled by rising demand for intelligent kiosks over the forecast timespan. Several industries including retail and hospitality are implementing intelligent kiosks with the technology to increasingly attract customers. For instance, in August 2018, McDonalds is implementing self-ordering kiosks with multi-touch displays as cost-effective solutions. Such strategies will provide growth opportunities for the multi-touch equipment industry growth.
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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The rapidly transforming interface technology and the on-going advancements in product design have been propelling multi-touch equipment market trends. The emergence of high-definition graphics along with the advent of new technologies such as IoT and artificial intelligence have also had a positive influence on the product development. The ease of application and design integrity of multi-touch devices has encouraged most of the end-users to adopt this next-generation transformation. Most of the consumer electronic product manufacturers, automakers, and several other industries have been inventing touch displays for real-life products. Depending upon the consumers’ approach toward the acceptance of such a computing interface, the players in the multi-touch equipment industry have been unveiling a diverse portfolio of varied products. The growing availability of highly advanced touchscreen devices will thus have a considerable influence on industry growth over the years ahead.
Over the last few years, in order to resolve the design related problems of product development engineers, several companies have been continuously involved in the development of touch encoders. Recently, Grayhill, Inc., introduced a touch encoder development kit for the engineers who are looking forward to replacing traditional user input devices with multi-touch gestures. The development of the touch encoder kit has apparently helped software engineers configure the device very easily. The increasing availability of advanced design and customer friendly electronic devices will thereby have a considerable impact on the growth of multi-touch equipment market outlook.
The launch of newly designed and multi-functional electronics equipment installed with touch systems will turn out to be rather beneficial for the contributors in the multi-touch equipment market. A few days ago, Ideum launched a smart coffee table with integrated touch systems. In the Pico smart coffee table, it has installed an 8th generation graphics card and advanced touch technology that supports nearly 80 simultaneous touch points. This newly developed touch coffee table enables a user to automate the varieties of system tasks with the help of RFID software utilities. The surging requirement of such smart tables in schools, libraries, waiting rooms, corporate offices, and the retail sector is likely to propel the product demand on a large scale.
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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. 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.
The demand for multi-touch screens is driving the multi-touch equipment market growth over the forecast timespan. The technology is allowing the consumers to interact with the machines effectively and are replacing keypads & keyboards in personal computing devices such as tablets and smartphones. The penetration of these components into vending machines, industrial instruments, and home appliances will further aid in the industry growth.
Multi-Touch Equipment Market in Asia Pacific 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.
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