The gesture recognition and touchless sensing market is projected to reach USD 37.6 billion by 2026 from USD 13.6 billion in 2021; it is expected to grow at a CAGR of 22.6% from 2021 to 2026.
North America has the largest market share for gesture recognition and touchless sensing. Whereas, APAC has the highest growth rate and is expected to grow at the highest CAGR during the forecast period owing to the rapidly changing face of technology and customer needs in high-potential markets such as China, Japan, South Korea, and India. Due to advancements in technology and the emergence of new business models as well as new infrastructural developments in the developing cities of the region, the gesture recognition and touchless sensing market is exhibiting an upbeat outlook. The growing awareness of hygiene and advancement of security standards would further fuel the adoption of gesture recognition and touchless sensings in APAC.
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Key Players:
Microsoft Corporation (US), Microchip Technology Inc. (US), Apple Inc. (US), Google LLC (US), Sony Depthsensing Solutions SA/NV (Belgium), Infineon Technologies (Germany), Cognitec Systems GmbH (Germany), GestureTek (Canada), OmniVision Technologies (US), IrisGuard (UK), Cipia (Israel), Elliptic Laboratories (Norway), XYZ Interactive (Canada), pmdtechnologies ag (Germany), Oblong Industries Inc. (US), Gesture Research (India), PointGrab Inc. (Israel), ESPROS Photonics (Switzerland), HID Global Corporation (US), OMRON Corporation (Japan), Ultraleap (UK), German Autolabs (Germany), iProov Ltd. (UK), Qualcomm (US) and Toposens (Germany).
Online gesture recognition is used to scale or rotate a tangible object and control a machine or a computer in real-time. Also called direct manipulation gestures, it lets the user interact with objects and impose changes viewable as done to them. Online gestures are regarded as direct manipulation, such as scaling and rotating. In contrast, offline gestures are usually processed after the interaction is finished—for example, a circle is drawn to activate a context menu. Offline gesture recognition is a relatively newer technology than online gesture recognition, owing to which the rate of recognition in offline gestures is lower than that of online gestures.
The outbreak of the COVID-19 pandemic led to the closure or partial shutdown of factories, warehouses, businesses, and institutes globally. This was complemented by implementing other lockdown measures, including strict social distancing norms, restricted travel, and limited entry to public spaces, restaurants, theme parks, cinema halls, and malls. Globally, most industries witnessed disruptions in supply chain operations and logistics-related services. Limited consumer and corporate spending, lockdown measures, and supply chain disruptions have impacted the growth of the gesture recognition and touchless sensing market. The market is seeing a decline due to the closure of multiple SMEs, logistic disruptions, lockdowns, and other problems due to the Covid-19 pandemic. The pandemic has compelled governments worldwide to shift their focus and spending to the health care sector. The demand from end users also declined significantly during 2020.
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