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Global gesture recognition market: 26% CAGR between 2012 and 2016

Press Release   •   Feb 25, 2013 11:48 GMT

The Global Gesture Recognition market is to grow at a CAGR of 26.4 percent over the period 2012-2016. One of the key factors contributing to this market growth is the ease of use in using gesture recognition-enabled devices. This is essential in the uptake of any new technology. The Global Gesture Recognition market has also been witnessing a growth because of the improved ergonomics which the technology can provide to any consumer electronic device. However, the lack of standardization of gesture movements could pose a challenge to the growth of this market during the forecast period.

As gesture recognition is still in its infancy, a number of pure-play gesture recognition technology companies involved in this field have been steadily increasing the amount of time and effort they spend on RandD activities in a bid to provide more robust and accurate products. It is inevitable that a number of large corporations will consider acquisitions of pure-play gesture recognition technology companies to improve and increase their product portfolios. Several mobile phone manufacturers are already aiming to have gesture recognition incorporated into many of their products by the end of the forecast period. Thus, keeping in mind future requirements, gesture recognition vendors have been increasing their focus on RandD to be able to meet the increased demand expected in the coming years.

The user-friendliness of gesture recognition-enabled devices is expected to be one of the key drivers in the market during the forecast period. Although gesture recognition is a relatively new technology, the improved user-friendliness of gesture recognition-enabled devices is expected to lead to relatively low anxiety in adopting this new technology.

The key vendors dominating this market space are Evoluce AG., GestureTek Technologies Inc., PrimeSense Ltd. and SoftKinetic Inc. Other vendors mentioned in the report include Extreme Reality Ltd., EyeSight Tech Ltd., PointGrab Ltd., Elliptic Laboratories AS, Qualcomm Inc., Microchip Technology Inc. and Zyxio LLC.

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