Gesture Recognition and Touchless Sensing Market by Technology, Product, Industry, and Geography - Global Forecast to 2022
NEW YORK, March 29, 2017 /PRNewswire/ -- "Surging application of gesture control features in automobiles and favorable programs deployed by the government are expected to drive the growth of gesture recognition and touchless sensing market"
The gesture recognition market is expected to be worth USD 18.98 billion by 2022, growing at a CAGR of 29.63% between 2017 and 2022. The touchless sensing market is expected to be worth USD 15.27 billion by 2022, growing at a CAGR of 17.44% between 2017 and 2022. Gesture recognition technology-enabled devices are equipped with simple functionalities, which supports low technical complexities for end users and accelerates the adoption of gesture recognition systems among original equipment/device manufacturers (OEMs/ODMs). Moreover, the increasing digitalization across industries is fueling the growth of the gesture recognition market. The absence of haptic sensation and comparatively high power consumption are expected to be the major restraints affecting the growth of the gesture recognition market. The factors such as reduction of hygiene concerns due to presence of touchless sanitary solutions and gradually diversifying scope for touchless sensing technology in multiple industries including healthcare and consumer electronics are driving the growth of the touchless sensing market.
"The touchless gesture recognition technology market is likely to grow at the highest rate during the forecast period"
The highest growth rate throughout the forecast period for touchless technology is due to the enhanced user experience while operating touchless devices. Touchless gesture recognition technology uses 2D and 3D cameras, infrared sensor arrays, ultrasonic, and capacitive screens to analyze its surrounding and enable gesture recognition functionality in an electronic device. The data acquisition is done in two ways either by capturing 2D image for analysis using current cameras deployed in smartphones, laptops, and other consumer devices or by recording 3D data by using several components such as two 2D cameras (stereoscopic), structure light, 3D time-of-flight cameras, and ultrasonic, capacitive, or infrared arrays.
"Touchless sensing market in Asia-Pacific to grow at the highest CAGR"
On a global level, Asia-Pacific (APAC) is expected to rank first in the gesture recognition market and third in the touchless sensing market during the forecast period. The APAC region has a potential market for gesture recognition and touchless sensing products, owing to the presence of emerging economies such as China and India in this region. The increasing hygiene awareness and advanced security standards in emerging countries, such as India and China, are propelling the growth of the gesture recognition and touchless sensing solutions. Moreover, in countries such as China, Japan, and South Korea, the governments give prime importance to the security aspect and thus there are numerous initiatives implemented in these countries for the security of citizens.
In the process of determining and verifying the market size for several segments and subsegments obtained through secondary research, extensive primary interviews have been conducted with officials from the key companies. The breakup of the profile of primaries has been given below:
- By Company Type: Tier 1 – 25 %, Tier 2 – 35%, and Tier 3 – 40%
- By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40%
- By Region: Europe – 43%, APAC – 29%, North America – 14%, and RoW – 14%
The key players in the gesture recognition and touchless sensing market profiled in the report are as follows:
1. Infineon Technologies AG (Germany)
2. Qualcomm Technologies, Inc. (U.S.)
3. eyeSight Technologies Ltd (Israel)
4. Cognitec Systems GmbH (Germany)
5. Intel Corporation (U.S.)
6. Crossmatch (U.S.)
7. PointGrab (Israel)
8. Elliptic Labs (Norway)
9. Google, Inc. (U.S.)
10. Apple, Inc. (U.S.)
11. Microsoft Corporation (U.S.)
12. Microchip Technology, Inc. (U.S.)
13. OmniVision Technologies Inc. (U.S.)
14. Sony Corporation (Japan)
15. pmdtechnologies ag (Germany)
Research Coverage:
The report studies the gesture recognition and touchless sensing market segmented on the basis of technology, product and industry. The report also includes the forecast of the market size, in terms of value, with respect to four main geographical regions—Americas, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and industry-specific challenges for the market. The report also profiles the key players operating in the gesture recognition and touchless sensing market as well as describes the overall value chain of the market and Porter's five forces.
Reasons to Buy the Report:
1. The report would help stakeholders to understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
2. This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the market. The competitive landscape section includes the competitor ecosystem and the recent development strategies adopted by the key players in the market such as new product launches and developments, partnerships, and mergers and acquisitions.
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