August 4 2020
Market Research Future published a research report on “Gesture Recognition Market Research Report- Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Gesture recognition is a technology that establishes a communication between a man and a machine, and this could be anywhere, be it home, office, or automobile. It officiates natural interactions with electronics around us. The global gesture recognition market is all set to gain effective tailwinds to clock impressive CAGR during the forecast period (2018-2023). Market Research Future (MRFR), in their recent report on the global Gesture Recognition Market, revealed growth pockets that could be leveraged while making strategies for the future.
Gaming industry is expected to be one of the major segments that can provide traction to the global market. A lot of games for XBOX and PlayStations are getting developed with gesture control technology and it has a huge market to cater to. On the other hand, the automobile industry is implementing this technology to increase safety protocols. Smartphones are also implementing this to better the bond between the user and the interface. Such technologies are bound to trigger high growth for the global market.
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Gesture Technologies Market Segmentation:
MRFR in their analysis of the global gesture recognition market segmented it by technology, product, and application. This effort is to understand the global market by having a closer look at it. The study has been powered by volume-wise and value-wise figures.
Based on the technology, the global gesture recognition market can be segmented into into sensors, 2D gesture technology and 3D gesture technology. Smartphone, automotive, and gaming industry are providing much traction to the 3D gesture technology segment. The sensors segment has the maximum market coverage and it can garner USD 2.08 billion with a 24.92% CAGR during the forecast period.
Based on the product, the gesture recognition market comprises touch-less and touch-based system. The touch-less segment is enjoying substantial traction due to its easy application.
Based on the application, the gesture recognition technology includes automotive, consumer electronics, healthcare, transportation, IT, commercial, telecom and many more. The automotive sector is implementing the technology to increase the sense of security, leveraging which, the gesture recognition technology can gain notable mileage. The consumer electronics segment has the potential to garner USD 1.06 billion as valuation with a 30.37% CAGR over the review period.
Some of the key players in the market are Microsoft Corporation (U.S.), Intel Corporation (U.S), Apple Inc. (U.S), Iris guard (Jordan), Qualcomm Inc.(U.S), Prime Sense Limited (Isreal), Omron Corporation (Japan), SoftKinetic (Belgium), Texas Instruments (U.S.), Infineon Technologies (Germany) and others.
Market Research Analysis:
Asia Pacific (APAC), North America, Europe and Rest of the World (RoW) are the four major regions that have been included in the MRFR report on the gesture recognition market. The attempt is to find out growth opportunities in these regions.
North America had the maximum market coverage as it had 38.55% dominance over the global market in the year 2016 with a valuation of USD 1.85 billion. The market gained substantial backup from technological growth in the region and robust infrastructure of diverse industries. Among initiatives, a large-scale funded program such as the Visa Waiver Program (VWP) ensured much growth for the global gesture recognition market.
The fastest growing market could be the APAC in the coming years. With 30.28% of CAGR in the forecast period, the regional market is expected to surpass USD 7.10 billion worth quite easily. For manufacturers, the region holds immense possibilities. Resources are plenty and labor is cost-effective.
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TABLE OF CONTENTS
1 Market Dynamics
1.1 Market Drivers
1.1.1 Processor Manufacturers Incorporating Gesture Recognition
1.1.2 Emergence Of Gestures As A New Way Of Communicating With Machines
1.1.3 Development Of Motion-Control Gaming
1.1.4 Growing Consumer Electronics Market
1.2 Market Inhibitors0
1.2.1 Limiting Capabilities Of Hardware
1.2.2 Technical Challenges In 3D Gestural Interaction
1.3 Supply Chain Analysis
1.4 Porter’s Five Forces Analysis
2 Global Gesture Recognition Market, By Technology
2.3 2D Gesture Technology
2.4 3D Gesture Technology
3 Global Gesture Recognition Market, By Application
3.4 Consumer Electronics
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