Capacitive Tactile Sensor Market Expected to Reach $10.68 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Capacitive Tactile Sensor Market," The capacitive tactile sensor market was valued at $3.87 billion in 2021, and is estimated to reach $10.68 billion by 2031, growing at a CAGR of 10.7% from 2022 to 2031.

Capacitive sensing technology detects the presence of a conductive item by detecting the change in capacitance within its projected field. Typically, it is a human finger, although it may be any conductive object with a dielectric other than air. Further, the surge in demand for Internet of Things solutions and industrial automation in emerging economies such as Australia, South Korea, Germany, and France is anticipated to drive the capacitive tactile sensor market size in the coming years.

The growth of the global capacitive tactile sensor market is majorly driven by rising government initiatives for digitalization, coupled with the rising adoption of touch-based display solutions. Further, an increase in demand for consumer electronics applications is anticipated to drive the growth of the capacitive tactile sensor market. However, the short supply of indium tin oxide paired with the lack of availability of a skilled workforce acts as a prime restraint for the global market. On the contrary, the surge in industrial applications of touch-based panels and equipment is anticipated to provide lucrative opportunities for the capacitive tactile sensor industry during the forecast period.

According to the capacitive tactile sensor market analysis, the surface capacitive touch sensor segment was the highest contributor to the market in 2021. The consumer electronics and automotive segments collectively accounted for around 77.9% market share in 2021. The surge in adoption of Internet of Things solutions has led to the growth of the consumer electronics and automotive segments; thereby, enhancing the capacitive tactile sensor market growth.

The outbreak of COVID-19 has significantly impacted the growth of the capacitive tactile sensor market, owing to a significant impact on prime market players. Conversely, a rise in demand for Internet of Things solutions in the consumer electronics sector is anticipated to drive the market post-pandemic. However, the lack of availability of a professional workforce, owing to partial and complete lockdown implemented by governments restrained the growth of the capacitive tactile sensor market. On the contrary, emerging economies significantly witness the need for smart infrastructure solutions, which are expected to boost the capacitive tactile sensor market.

Region-wise, Asia-Pacific holds a significant share in the global capacitive tactile sensor market, owing to the presence of prime players in this region. The adoption of next-generation touch screen multi-display solutions across industrial and consumer electronics sectors is expected to propel the growth of the capacitive tactile sensor industry in this region. Moreover, the surge in demand for smart display solutions in Asia-Pacific countries such as India, South Korea, and Japan is anticipated to drive the capacitive tactile sensor market trends in this region.

The 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. Market players have adopted various strategies, such as product launch, collaboration& partnership, joint venture, and acquisition to expand their foothold in the capacitive tactile sensor market share