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  • 20 December 2019 22:14

Gesture Recognition Market Hit USD 32.1 billion

The gesture recognition market size is poised to garner USD 32.1 billion by 2026, growing with 22.3% CAGR during the forecast time period 2019 to 2026.

Gesture recognition is conversion of a hominid movement or signal to a command using a mathematical algorithm. It enables any person to interrelate with the machine in absence of any physical devices, as an input mechanism to perform desired actions in a system. The technology interprets human gestures and movements, such as movement of hands, fingers, arms, head, or the entire body. It allows users to operate and control devices merely with their gestures.

Increasing digitization across various industries is benefiting the growth of the market. Ease of adoption due to low technical complexity for end users is escalating its implementation across the consumer electronics industry. Several other industries have also started using this technology. Similarly, the touchless gesture recognition market is primarily driven by factors such as rising hygiene consciousness, government measures for water conservation, low maintenance cost, and booming hospitality and tourism industry.

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Surging use of consumer electronics and Internet of Things, along with increasing need for comfort and convenience in product usage, is boosting the growth of the gesture recognition market. Technological advancements and ease of use are helping the market gain momentum over the coming years. Increasing awareness regarding regulations and driver safety are bolstering the demand for gesture recognition systems in the automobile industry. Similarly, spiraling customer demand for application-based technologies is stimulating market growth.

Gestures are visible body actions through which human express information to others without saying it. In our daily lives, we see several hand gestures that are frequently used for communication purposes. Hand gesture recognition is one of the advanced research fields, which provides a way for human-machine interaction. Hand gesture recognition provides an intelligent method for human-computer interaction (HCI).

The market is volatile and is experiencing a fierce competition, therefore, witnessing high number of mergers and acquisitions. For instance, Intel Corp. acquired Omek Interactive Ltd. Some of the key players in the market are Apple, Intel, Microsoft, and Google. Along with global giants, local and regional players are also showing tremendous growth and attracting big investors. This scenario has taken the competition to a whole different level.

Market Participants

Few of the main player present in the global Gesture recognition market are pmd technologies AG, Sony Corporation, Infineon Technologies AG, OmniVision Technologies Inc., Qualcomm Technologies, Inc., Microchip Technology, Inc., eyeSight Technologies Ltd., Microsoft Corporation, Cognitec Systems GmbH, Apple, Inc., Intel Corporation, Crossmatch, PointGrab, Google, Inc., and Elliptic Labs.

Report Scope

Base Year for Estimation - 2018

Actual estimates/Historical data - 2015 to 2018

Market Representation - Revenue in USD Million & CAGR from 2015 to 2026

Regional Scope - North America, Europe, Asia Pacific, Latin America & MEA

Report Coverage - Revenue forecast, company share, competitive landscape, growth factors and trends

Further key findings from the report suggest:

- Increasing digitization across various industries and ease of adoption due to low technical complexity for end users are poised to propel the market

- The healthcare segment is projected to experience substantial CAGR of 27.0% over the forecast period

- Asia Pacific was the highest revenue contributor in 2017. It is expected to witness significant growth over the forecast period

Key Benefits Gesture Recognition Market Study:

- This report provides an extensive analysis of the current and emerging market trends and dynamics in the global gesture recognition market.

- In-depth analysis is conducted by constructing market estimations for the key market segments between 2019 and 2026.

- Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

- This report entails the detailed quantitative analysis of the current market and estimations through 2019-2026, which assists to identify the prevailing market opportunities.

- The projections in this report are made by analyzing the current trends and future market potential from 2019 to 2026 in terms of value and opportunities.

- Level of competition within the industry and the business strategy development are analyzed using the Porters Five Forces model.

Table of Content

CHAPTER 1. INDUSTRY OVERVIEW

CHAPTER 2. MARKET DYNAMICS AND COMPETITION ANALYSIS

CHAPTER 3. MANUFACTURING PLANTS ANALYSIS

CHAPTER 3. MANUFACTURING PLANTS ANALYSIS

CHAPTER 5. GESTURE RECOGNITION MARKET BY COMPONENT

CHAPTER 6. GESTURE RECOGNITION MARKET BY DEPLOYMENT

CHAPTER 7. GESTURE RECOGNITION MARKET BY END USE

CHAPTER 8. NORTH AMERICA GESTURE RECOGNITION MARKET BY COUNTRY

CHAPTER 9. EUROPE GESTURE RECOGNITION MARKET BY COUNTRY

CHAPTER 10. ASIA-PACIFIC GESTURE RECOGNITION MARKET BY COUNTRY

CHAPTER 11. LATIN AMERICA GESTURE RECOGNITION MARKET BY COUNTRY

CHAPTER 12. MIDDLE EAST GESTURE RECOGNITION MARKET BY COUNTRY

CHAPTER 13. AFRICA GESTURE RECOGNITION MARKET BY COUNTRY

CHAPTER 14. COMPANY PROFILE

CHAPTER 15. RESEARCH APPROACH

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