Asia-Pacific to Drive Global Smartphone Touch Screen Modules Market
The global market for touch screen modules in mobile devices is projected to be 1.3 billion units by 2018, driven by the increasing adoption of smartphones worldwide, according to a new report by Global Industry Analysts Inc. Feature phones currently represent the largest application for touch screen modules in mobile devices; however, smartphones are expected to register the fastest growth. Projected capacitive touch screens represent the largest market for touch screen modules in mobile devices, and are expected to increase their share in future.
The post-recession world market for touch screen mobiles reportedly received the strongest growth in developing markets such as the Asia-Pacific and Latin America. Asia-Pacific, in particular, emerged as the largest and the fastest growing regional market for touch screen phones and is expected to register a compounded annual growth rate (CAGR) of 25% over the analysis period. Thriving economies, growing employment opportunities, rising income levels, continuous development of cellular markets, and increasing spending power in major countries are driving high demand for touch screens in the region.
As home to two of the most populous countries, China and India, which have a large section of middle-class consumers, Asia-Pacific is proving to be a hotbed for growth of touch screen mobile market. Huge latent demand, due to relatively lower per capita ownership in the region compared to developed markets, also makes the region a highly lucrative market with enormous growth potential.
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