Increasing Demand for Gesture Recognition Market near Future

The gesture recognition market is projected to reach USD 32.3 billion in 2025 from USD 9.8 billion in 2020, at a CAGR of 27.0%. The touchless sensing market is projected to reach USD 15.3 billion in 2025 from USD 6.8 billion in 2020 at a CAGR of 17.4%.

Major drivers for gesture recognition market growth are increasing demand for connectivity in the automotive industry, low technical complexity and advanced user experience and growing digitization across several industries. Further, the integration of multiple technologies with gesture control will create opportunities for the market. The major restraint for the market is high power consumption by the gesture-enabled products. Complex framework for manufacturers poses a significant challenge for this market.

Major drivers for touchless sensing market include increasing demand for contact-free sensing as well as hygiene issues and favorable programs deployed by the government. The escalating demand for touchless sensing technologies in smartphones and touchless biometric solutions with upgraded tracking and controlling functionalities will create opportunities for the market. The major restraint for the market is higher switchover costs coupled with user resistance. High cost involved in touchless sensing products pose a significant challenge for this market.

Download Free PDF Copy:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=369

Based on industry, consumer electronics to hold the largest share of the gesture recognition market

The largest market share of the consumer electronics industry throughout the forecast period is attributed to the increasing number of end-users of consumer electronics, such as laptops, tablets, and smartphones. Technological advancements and ease of use are factors increasing the acceptance of gesture recognition technology in the consumer electronics industry. The other important factor driving the market growth is the ability of gesture recognition technology to provide improved ergonomics to many consumer devices.

Touchless biometric vertical to be the largest share holder of the touchless sensing market in coming years

The increasing use of biometric equipment in the automobile, consumer electronics, commercial, and industrial sectors is expected to drive the growth of the touchless biometric equipment market. As biometric deployments begin to expand into markets and environments that are characterized by end-users who may possess less ideal skin conditions to use fingerprint technology, contactless biometric sensor technology is proving to be a viable solution. Fingerprint technology is not a one-size-fits-all solution due to its reliance on skin integrity and difficulty to function properly in certain environments and with various ethnicities. Contactless biometric sensors help in solving these problems and offer added features of being more hygienic, a problem that plagues biometric technology with sensors that require contact. 

North America to account for the largest size of gesture recognition and touchless sensing market in 2020

The North American gesture recognition and touchless sensing market has witnessed significant advancements in the past few years. It is always at the forefront in terms of the adoption of technology and associated services. The deployment of augmented reality (AR) and virtual reality (VR) technologies in the gaming and entertainment industries have accelerated the adoption of gesture recognition products and solutions in the region. Favourable initiatives taken by the government in North America to strengthen regulatory activities and security operations have encouraged the growth of the market. Moreover, the demand for finger-scan biometric technologies for user authorization is expected to increase the demand for PC/network security applications.

Request Free Sample Pages:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=369

Key Market Players

Microsoft Corporation (US), Microchip Technology Inc. (US), Apple Inc. (US), Google Inc. (US), Sony Depthsensing Solutions SA/NV (Belgium), Infineon Technologies AG (Germany), OmniVision Technologies, Inc. (US), IrisGuard (UK), Cognitec Systems GmbH (Germany), and GestureTek (Canada), pmdtechnologies ag (Germany), PointGrab Inc. (Israel), XYZ Interactive (Canada), Elliptic Labs (Norway), Eyesight Technologies Ltd. (Israel), Ultraleap (UK), German Auto Labs GmbH (Germany), iPROOV Limited (UK), Gesture Research (India) and OBLONG INDUSTRIES (US) are a few major players in the gesture recognition and touchless sensing market.