DUBLIN--(BUSINESS WIRE)--The "Gesture Recognition - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Gesture Recognition Market to Reach US$24.8 Billion by the Year 2026
Amid the COVID-19 crisis, the global market for Gesture Recognition estimated at US$11.8 Billion in the year 2022, is projected to reach a revised size of US$24.8 Billion by 2026, growing at a CAGR of 17% over the analysis period.
The technology is gaining prominence among consumers and original equipment manufacturers or OEMs because of increased user convenience while handling laptops, navigation devices, personal computers, smartphones, among others. Manufacturers are focusing on innovation to add gesture recognition features in different consumer electronics, which in turn, has improved safety, reliability, and convenience. By combining image processing and computer vision, the technology executes commands through gestures.
The demand for touchless sensing is attributed to increasing demand for superior user experience, ease of use, and rising digitization across several sectors. Hygiene concerns owing to the COVID-19 pandemic have significantly boosted growth in the market.
Escalating demand from various end-use sectors like banking and finance along with automotive which is witnessing a staggering increase in connectivity demand is likely to further augment growth in the market. The high accuracy of next-generation systems is likely to drive a substantial increase in touchless sensing demand in the years ahead.
Touch-Based, one of the segments analyzed in the report, is projected to grow at a 12.2% CAGR to reach US$12 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Touchless segment is readjusted to a revised 21.8% CAGR for the next 7-year period.
This segment currently accounts for a 44% share of the global Gesture Recognition market. A large number of companies across industries are making efforts to retrofit existing touch-based interfaces to touchless. The touchless human machine interface technology holds numerous benefits, including safety. In the coming years, touchless HMI technologies are anticipated to register significant uptake and provide lucrative opportunities for market participants.
The U.S. Market is Estimated at $2.7 Billion in 2022, While China is Forecast to Reach $5.2 Billion by 2026
The Gesture Recognition market in the U.S. is estimated at US$2.7 Billion in the year 2022. The country currently accounts for a 23.4% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$5.2 Billion in the year 2026 trailing a CAGR of 19.3% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 15.1% and 16.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 15.3% CAGR while Rest of European market (as defined in the study) will reach US$1.5 Billion by the end of the analysis period.
Proliferation of AI and ML technologies is causing paradigm shifts in the way we experience the world. Gesture recognition unfurls a spectrum of feature-enriching applications in smart navigation, consumer electronics, healthcare delivery, augmented reality gaming, automation of homes, live video streaming and virtual shopping.
AI-enabled gestural recognition rendered robotic surgeries to be precise and dependable along with accurate and easier health monitoring. Advent of wearable sensors further fortified the utility of AI-based gesture recognition systems by enhancing the sensitivity through the integration of visual and somatosensory data almost identical to the skin.
Propped by consumer electronics, gestural recognition technology made a steady progress and gained customer acclaim in the recent years and is all set to make rapid strides in design, education, security and real estate fields.
Technology leaders Apple, Microsoft, Intel and Google dominate the market with their innovative gesture recognition based human machine interaction interfaces that are widely used across board. AI systems utilize Time-of-Flight principle (ToF) and in-built data libraries for Static Gesture Recognition to identify and track gestures.
Consumer electronics market is abuzz with innovation spree powered by gesture recognition and haptic feedback. Limix, an Italian company, developed a gesture to text conversion solution that identifies gestures in the sign language format and converts them to machine readable texts and audio captions optimized for playing on smart mobiles.
uSens` HGR solution enables smart TVs to track hand gestures and finger movements. Automated homes also deploy gesture recognition largely for actionable commands. Gestoo developed an AI based HGR solution for contactless audio system and lighting monitoring through smart phone interface.
What's New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to the digital archives
- Complimentary updates for one year
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Gesture Recognition - Global Key Competitors Percentage Market Share in 2022 (E)
- Importance of HMI in the Age of Digitalization Provides the Foundation for Growth in the Gesture Recognition Market
- The World Witnesses Accelerated Digitalization
- Role of HMI in a Digital World Becomes Bigger
- As the Universal Feature for all Electronic & Digital Devices, the Focus on HMI to Benefit Gesture Recognition Technology Amid the Rising Wave of Digitalization: Global Digital Transformation Opportunity (In US$ Billion) for the Years
- Touchless Sensing & Gesture Control is the Next Milestone for HMIs in the Post-Pandemic Phase
- Touchless Sensing & Gesture Recognition - Overview, Importance, Benefits & Uses
- Recent Market Activity
- Innovations
2. FOCUS ON SELECT PLAYERS (Total 76 Featured)
- Apple Inc.
- Cipia
- Cognitec Systems GmbH
- Elliptic Laboratories A/S
- ESPROS Photonics Corporation
- German Autolabs
- GestureTek
- Google LLC
- HID Global Corporation
- Infineon Technologies AG
- Intel Corporation
- iProov Ltd.
- IrisGuard UK Ltd
- Microchip Technology Inc.
- Microsoft Corporation
- OmniVision Technologies Inc.
- OMRON Corporation
- pmdtechnologies ag
- PointGrab Inc.
- Qualcomm Technologies, Inc.
- Sony Depthsensing Solutions
- Toposens GmbH
- Ultraleap
- XYZ Interactive
3. MARKET TRENDS & DRIVERS
- COVID-19 Induced Demand for Safer Touchless Environments Bodes Well for Gesture Recognition
- Automotive Gesture Recognition Systems (AGRS) Emerges in Prominence for Automotive Infotainment & Autonomous Driving
- Automotive Infotainment Market Outlook
- Growing Market for Automotive Infotainment Expands the Addressable Market Opportunity for Gesture Recognition Technology
- Infotainment Systems Brings HMI Into the Spotlight
- Demand for Smarter, Safer Interfaces Drives Interest in Gesture Recognition Technology for Infotainment HMI
- Focus on Safety & Rising Concerns Over the Use of Touchscreens as Automotive HMI Opens New Opportunities for Gesture Recognition in Automotive HMI Applications
- Here's How Gesture Recognition Technology Makes Automotive HMI Safer
- As Wearable Electronics Explodes, Gesture Recognition in Smartwatches Hogs the Limelight
- Exploding Sales of Electronic Wearables Shifts Research Focus to Intuitive Gesture Recognition Wearables
- Growing Sales of Smartphones Bodes Well for the Emergence of Touchless Gesture as the Future of Smartphones HMI
- Healthy Demand for Smartphones Creates a Parallel Opportunity for Touchless Device Interfaces
- The Push Towards Immersive Gaming Opens New Opportunities for Gesture Recognition
- Here's How Gesture Recognition Will Make Gaming Immersive
- Search for Immersive Gaming Experience in the Robustly Growing Gaming Industry to Benefit Adoption of Gesture Recognition Technology
- The Era of Smart Healthcare Provides a Goldmine of Opportunity for Gesture Recognition Technology
- Continuous Technology Innovation Remains Crucial to Sustained Growth in the Market
- Role of AI in Gesture Recognition Gets Bigger
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/65bfhn
