Gesture Recognition Market worth US$ 9.45 Billion in 2020 with a CAGR of 28.5%.
Increasing digitization across various industries and technological advancements in the field of automotive, consumer electronics, healthcare, etc., are major factors expected to drive the growth of the global Gesture Recognition Market over the forecast period. Also, rising consumer demand for comfort and convenience in product usage and increasing implementation of Internet of Things (IoT) are some other factors projected to further propel the growth of the target market over the forecast period. Moreover, rising awareness regarding driver safety and regulations is another factor propelling the growth of the target market in the automobile industry. For example, Delphi Technologies added a new dimension to the touch-free cockpit experience. The company developed a technology that tracks eye movement, to detect where the driver is looking, and infer the action that an infotainment system has to carry out. Furthermore, increasing innovative gesture recognition features and rising demand for mobile devices is another important factor anticipated to fuel the growth of the global market over the forecast period.
The Report "Global Gesture Recognition Market, By Technology (Touch-based Gesture Recognition and Touchless Gesture Recognition), By Industry (Aerospace and Defense, Automotive, Consumer Electronics, Gaming, Healthcare, and Other Industries), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030.
Key Highlights:
· In February 2018, Elliptic Labs launched its gesture technology called INNER REFLECTION for smart speakers at Mobile World Congress (MWC).
· In June 2018, Eyesight Technologies Ltd. collaborated with Soling Industrial Co., to launch next-generation driving motor systems in the Chinese automotive market.
Key Market Insights from the report:
The Gesture Recognition Market accounted for US$ 9.45 Billion in 2020 and is estimated to be US$ 110.56 Billion by 2030 and is anticipated to register a CAGR of 28.5%. The market report has been segmented based on technology, industry, and region.
· By technology, the touchless gesture recognition technology segment is projected to register higher CAGR over the forecast period, owing to the growing implementation of touchless technology in automotive and healthcare applications.
· By industry, the global gesture recognition market is categorized into aerospace and defence, automotive, consumer electronics, gaming, healthcare, and other industries
· By region, Asia Pacific market is expected to dominate in the global market in terms of revenue over the forecasts period, due to increasing disposable income across various countries and rapidly growing industrial digitization in the region.
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The prominent player operating in the global gesture recognition market includes Fibaro Group SA, Elliptic Laboratories A/S, Eyesight Technologies Ltd., GestureTek Inc., Intel Corporation, Jabil Inc., Leap Motion Incorporation, Microchip Technology Incorporated, Microsoft Corporation, and Pyreos Limited.
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