Global predictive touch market demand is anticipated to be valued at USD 395.7 Million in 2022, forecast a CAGR of 27.5% to be valued at USD 4,480.7 Million from 2022 to 2032. Growth is attributed to technical innovations over the past two decades that have been taking place in the information technology industry. From 2016 to 2021 a CAGR of 27.1% was registered for the predictive touch market.
The predictive touch technology may have a huge vertical base application such as Banking and Financial Services, Insurance, Government, public administration, & Utilities, Pharmaceutical, Telecom and IT, Retail, Transportation and Logistics, Healthcare, Manufacturing, Media and Entertainment, Energy (oil, gas, and electricity), Engineering and Construction, Tourism and Others.
Predictive touch technology can be used to enhance the current technology and user interface of many existing devices such as PC, tablets, mobile phones, laptops, and television. For the different operating systems, the Predictive Touch technology is required to serve various platforms such as windows, android, and iOS.
| Data Points | Key Statistics |
|---|---|
| Growth Rate (2016 to 2021) | 27.1% CAGR |
| Projected Growth Rate (2022 to 2032) | 27.5% CAGR |
| Expected Market Value (2022) | USD 395.7 Million |
| Anticipated Forecast Value (2032) | USD 4,480.7 Million |
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Increasing Technological Advancement to Boost the Market Growth
Increased use of Internet of Things (IoT) and Artificial Intelligence (AI) technologies, in many industrial and residential applications had been witnessing a boost in the growth of the global Predictive Touch Market. The rapid digital transformation which is also projected to have a positive impact on the growth of the predictive touch market in the coming years. The global Predictive Touch market is also predicted to grow due to a surge in the transformation of business models, supported majorly by the increase in the adoption of advanced telecommunication services, such as 5G.
Advancement of data extraction algorithm to facilitate the growth of predictive gadgets are becoming an attractive opportunity to invest in predictive touch technology. The tendency of a machine to think and work in a similar way to that of humans is catering to new opportunities, to develop more efficient predictive systems, which is expected to be another significant driver for market growth.
Artificial intelligence and conventional touchscreen technology, are coupled together to arouse the demand for innovative products such as advanced predictive touch techniques. Further need for change and more advanced interactive technology are the two key drivers of the Predictive Touch Market.
Lack of Technical Workforce May Impede the Market Growth
Although the predictive touch market has numerous end-uses, there are numerous obstacles that likely pose a challenge to market growth.
The lack of a trained and proficient workforce is the major challenge faced by organizations in the correct deployment of the Predictive Touch Market.
The predictive Touch Market is under an ongoing research process, owing to these tremendous untapped opportunities are hidden to explore which is contributing to the growth of the market.
Principal Consultant
The presence of well-developed technical infrastructure boosts the market in North America.
North America dominated the global predictive touch market and accounted for 36.3% market share, and the global Predictive Touch Market is anticipated to spur over the forthcoming years in this region. Also, the growing demand for innovative business intelligence products in the North Americann region has assisted the growth of the predictive touch market in this region.
The increase in applications of the predictive touch in automobile and healthcare industries because of its benefits over conventional touchscreens, due to which the predictive touch market is expected to have potential growth in North America. Increased internet usage and a surge in smartphone users have inundated the automotive industry, fuelling additional market expansion.
Also, due to its favorable technological infrastructure, greater participation by the region's top automotive businesses, and the presence of key players, such as Microsoft, Nuance communication, and growing purchasing power parity (PPP) of the populace, the USA dominates the predictive touch market.
The heightened growth being witnessed in the USA can also be attributed to the following factors, such as the densely populated key players in the region, the rising adoption rate for new-age technology, and a surging application base in the downstream industries. The thriving automotive and transportation industries are further contributing to the development and advancements of the predictive touch market in the USA. The usage of predictive touch, an evolving HMI technology, substantially improves the performance and usability of in-vehicle displays. The predictive touch enables autonomous auto-selection of the predicted interface component and simplifies the selection task with the help of early prediction of the interface item the passenger or driver intends to opt for on display.
Ongoing Technical Development to Drive Market Growth
According to Future Market Insights, Europe is expected to provide immense growth opportunities for the predictive touch market due to the technological development in the region.
Europe’s predictive touch market accounts for a 21.7% share of the total global market. The European Market is expected to exhibit growth at a swift pace owing to the large-scale adoption of predictive analytics supporting tools in industries across the region. Due to the increased technological usage in the automotive industry, the predictive touch market will expand at a significant rate in Europe. The market has grown as a result of increased sales of both premium and affordable cars over time. Additionally, the growing propensity to use high-tech features has fuelled the market's expansion.
Since COVID-19, technologies supporting human health and hygiene have been enjoying heightened preference. In the United Kingdom, for instance, in the year 2020, the University of Cambridge and Jaguar Land Rover together developed new contactless touchscreen technology for drivers to fight off bacteria and viruses. The ‘predictive touch’ employs artificial intelligence and sensors to anticipate the user’s intended aim on the touchscreen, such as temperature controls, satellite navigation, or entertainment settings, without having to touch the screen. The pioneering system is developed to make its vehicles safer and healthier for the environment and humans.
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The Asia Pacific is expected to register the fastest growth in revenue generation for the predictive touch market due to the large population in countries such as China and India. Moreover, the expansion of the IT sector in countries such as China, India, and Japan is anticipated to elevate the market demand in the near future.
Factors such as the market players increasingly deploying the AI platform cloud service for improving the data science operations in the region are expected to accelerate the growth of the predictive touch market during the forecast period.
The rapid increase in the manufacturing and IT & Telecommunication industry is one of the major factors that will boost the market growth in the forthcoming years. In addition, the market is gaining traction and is expected to fuel, owing to the increasing demand for advanced applications development in this region.
The Japan predictive touch market is expected to observe robust penetration in the years to come. This can be ascribed to the adoption of this non-touch technology in an extensive range of public applications, such as medical facilities, ATMs, and elevators, among other businesses where hygiene maintenance is the most crucial factor, such as food-related companies. Further, due to the growing perception of this technology as a contributor to improved hygiene in society, the predictive touch technology is expected to witness high demand in Japan owing to the large pool of geriatric population in the country.
The South Korean predictive touch market is expected to flourish over the forthcoming years. Regional growth has been driven by technological innovations in the past few years. For instance, in 2015, iOS9 introduced predictive touch technology crucial for the Apple stylus. In iOS 9, the Cocoa Touch Framework has gained new predictive touch competencies, helping improve the speed and precision of touch-based input.
Since the public is already used to using screens by tapping and clicking, assuming they all are touchscreen, the successful adoption of predictive touch technology would require rigorous initiatives to educate the masses with the help of public information campaign regarding the development of a new screen. Once established, the touchless touch screen can be used for endless use cases, such as ticketing at rail stations, lunch line checkout at some high schools, and check-in terminals at the airport, etc.
The presence of well-developed technical infrastructure boosts the market in North America
North America dominated the global predictive touch market and accounted for 36.3% market share and the global Predictive Touch Market is anticipated to spur over the forthcoming years in this region. Also, the growing demand for innovative business intelligence products in the North American region has assisted the growth of the predictive Touch market in this region.
The increase in applications of the predictive touch in automobile and healthcare industries because of its benefits over conventional touchscreens due to which the predictive touch market is expected to have potential growth in North America. Increased internet usage and a surge in smartphone users have inundated the automotive industry, fuelling additional market expansion.
Also, due to its favorable technological infrastructure, greater participation by the region's top automotive businesses, and the presence of key players, such as Microsoft, Nuance communication, and growing purchasing power parity (PPP) of the populace, the USA dominates the predictive touch market.
Ongoing Technical Development to Drive Market Growth
According to Future Market Insights, Europe is expected to provide immense growth opportunities for the predictive touch market, due to the technological development in the region.
Europe’s predictive touch market accounts for a 21.7% share of the total global market. European Market is expected to exhibit growth at a swift pace owing to the large-scale adoption of predictive analytics supporting tools in industries across the region.
Due to the increased technological usage in the automotive industry, the predictive touch market will expand at a significant rate in Europe. The market has grown as a result of increased sales of both premium and affordable cars over time. Additionally, the growing propensity to use high-tech features has fuelled the market's expansion.
The Asia-Pacific is expected to register the fastest growth in revenue generation for the predictive touch market due to the large population in countries such as China, and India. Moreover, the expansion of the IT sector in countries such as China, India, and Japan is anticipated to elevate the market demand in the near future.
Factors such as the market players increasingly deploying the AI platform cloud service for improving the data science operations in the region are expected to accelerate the growth of the predictive touch market during the forecast period.
The rapid increase in the manufacturing and IT & Telecommunication industry is one of the major factors that will boost the market growth in the forthcoming years. In addition, the market is gaining traction and is expected to fuel, owing to the increasing demand for advanced applications development in this region.
Since the Market is very niche, very few players are currently catering to the predictive touch market, some of the key participants present in the global predictive touch market include Microsoft, Nuance Communication, Jaguar Land Rover, dotData Enterprise, Smartia, innoSEP, Cognexa among others. Some key-development of the major players is listed below :
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 27.5 % from 2022 to 2032 |
| Expected Market Value (2022) | USD 395.7 Million |
| Anticipated Forecast Value (2032) | USD 4,480.7 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Application, Platform, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Microsoft; Nuance Communications Inc.; Jaguar Land Rover; dotData Enterprise; Smartia; innoSEP; cogneXa |
| Customization | Available Upon Request |
FMI projects the global predictive touch market to expand at a 27.5% value CAGR by 2032
North America is expected to be the most opportunistic with a 36.3% share of the total predictive touch market
Microsoft, Nuance Communication, Jaguar Land Rover, dotData Enterprise, and Smartie are some prominent predictive touch, market manufacturers.
1. Executive Summary | Predictive Touch Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2016 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Application 5.1. Banking Financial Services and Insurance 5.2. Government 5.3. Public Administration 5.4. Utilities 5.5. Pharmaceutical 5.6. Telecom and IT 5.7. Retail 5.8. Transportation and Logistics 5.9. Healthcare 5.10. Manufacturing 5.11. Media and Entertainment 5.12. Energy - Oil, Gas, and Electricity 5.13. Engineering and Construction 5.14. Tourism 5.15. Others 6. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Platforms 6.1. Windows 6.2. Android 6.3. iOS 7. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East and Africa 8. North America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 11. Asia Pacific Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 12. Middle East and Africa Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Microsoft 15.2. Nuance Communications, Inc. 15.3. Jaguar Land Rover 15.4. dotData Enterprise 15.5. Smartia 15.6. innoSEP 15.7. cogneXa 16. Assumptions & Acronyms Used 17. Research Methodology
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