Factors such as increasing per capita revenue, growing technologies and the rising digitalization of the automotive, consumer electronics and healthcare sectors. Ever greater use of consumer electronics, Rest Internet of Things (IoT) implementation and an increasing need for comfort and convenience in the use of products are also boosting the market.
The upswing of consumer electronics is inflating the market. The rapid demand of smartphones, tablets, smart tv's and cameras with in-built gesture recognition is augmenting the market. Expansion of automotive and medical centers is also thriving in the market. Rapid urbanization remains the key reason behind the expansion of these industries. Rapid urbanization has led to the increasing demand for deploying up to date technology, thus resulting in the advancement of the market.
The market is segmented into authentication type, component type, application and by region. Component types consist of touch-based and touch fewer systems. Currently, touch-based is dominating the growth of the market and is expected to be the key market trends during the forecast period. Vast deployments of touch-based recognition in laptops and smartphone remain the key reason behind the growth. Touchless based is expected to hold significant share since it reduces the time by utilizing touchless sensors which track the user's body gestures.
On the basis of authentication type, the market consist of fingerprint recognition, face recognition, vision & IRIS recognition, hand & leg recognition, and others. Fingerprint recognition is expected to hold significant share during the forecast period. Technological advancements remain the key factor behind the expansion of the market.
On the basis of application, the market is bifurcated into automotive, hospitality, education and others. Automotive is expected to boost the growth of the market during the forecast period. Advancements in automotive in the form of blind-spot detection and reducing touch latency is positively influencing the market. Widespread implementation of vehicle safety and intelligence is inflating the market.
In terms of region, North America remains accounts for a large share of the market. The rapid adoption of smart technologies coupled with the rapid expansion of automation industry remains the key factor behind the inflation of the market in the region. Asia-Pacific is forecasted to be a lucrative region for the manufacturers. The region is expected to witness a rising demand for consumer electronics and advancement in healthcare infrastructure. Technological advancement in the automotive sector is also expected to spur the market.
Some of the major companies operating in the global market are Intel Corporation, Google Inc., Microsoft Corporation, Apple Inc., Softkinetic, Qualcomm Technologies, Inc., GestureTek, Inc., EyeSight Technologies Ltd., Omron Corporation and Movea SA among others.
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Global Gesture Recognition Market Segmentation:
By Component Type
- Touch-based system
- Touch less system
By Authentication Type
- Finger Print Recognition
- Face Recognition,
- Vision & Iris recognition
- Hand & Leg Recognition
- North America
- Latin America
- Rest of the World
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● Tier 1 players- established companies in the market with a major market share
● Tier 2 players
● Emerging players which are growing rapidly
● New Entrants
FutureWise Key Takeaways
● Growth Prospects
● SWOT Analysis
● Key Trends
● Key data-points affecting market growth
Objectives of the Study:
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