Gesture Recognition Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Gesture Recognition Market covers analysis by Technology (Touch-Based Gesture Recognition and Touchless Gesture Recognition) Type (Online Gesture Recognition and Offline Gesture Recognition ), Industry Vertical (Automotive, Consumer Electronics, Sports, Healthcare, Advertisement and Communication, Aerospace and Defense, and Others ), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Mar 2024

  • Report Code : TIPTE100000177
  • Category : Technology, Media and Telecommunications
  • Status : Upcoming
  • No. of Pages : 150
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The gesture recognition market is expected to grow from US$ 12.93 billion in 2021; it is estimated to grow at a compound annual growth rate  (CAGR) of 22.3% from 2022 to 2028.

The gesture recognition market growth is driven by numerous factors, such as surging demand from the automotive industry to provide driver safety and the rising use of gesture recognition technologies in consumer electronics such as computers, tablets, and smartphones. Moreover, leading automotive manufacturers are implementing gesture recognition in different systems, such as windows and windshield wipers and air conditioning, in order to reduce driver workload and allow safe driving, thereby propelling the market growth during the forecast period.

MARKET DYNAMICS
Gesture recognition enables users to control the functioning of smart TVs with their fingers and hand gestures. The recognition software attempts to match these gestures to a predefined set of gestures. Moreover, there is an increased adoption of gesture recognition mainly across consumer electronics, such as smartphones, smart TVs, smart homes, laptops, and set-top boxes. Gesture recognition tends to control computer devices. Several companies and organizations are implementing biometrics solutions that help digitalize large business processes, which propels the gesture recognition market growth. However, high power consumption by products with gesture recognition hampers the market growth. Conversely, due to minimal technological complexities and increased digitization across numerous industries, the adoption of gesture recognition technology is rising, , primarily across the consumer electronics industry. Technological advancements and the need to deliver remote-less gesture presentations in several businesses are anticipated to create significant growth opportunities for the gesture recognition market players during the forecast period.

MARKET SCOPE
The "Global Gesture Recognition Market Forecast to 2028" report aims to provide an overview of the market with detailed market segmentation based on technology, type, and industry vertical. The report provides key statistics based on the performance of the leading market players. It also offers key trends and opportunities in the gesture recognition market.

Strategic Insights

MARKET SEGMENTATION
The global gesture recognition market is segmented on the basis of technology, type, and industry vertical. By technology, the gesture recognition market is bifurcated into touch-based gesture recognition, touchless gesture recognition. Based on type, the market is divided into online gesture recognition and offline gesture recognition. In terms of industry vertical, the gesture recognition market is segmented into automotive, consumer electronics, sports, healthcare, advertisement and communication, aerospace and defense, and others.


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REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. The global gesture recognition market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. The market report covers the analysis and forecast of 18 countries across the world, along with trends and opportunities prevailing in the region.

From the regional perspective, North America is expected to hold the largest share of the gesture recognition market during the forecast period. The market in North America is segmented into the US, Canada, and Mexico. In the past five years, the region has witnessed significant adoption of technologies, which has resulted in the growth of the gesture recognition market. Owing to the massive presence of key players, including Microsoft; Google, Inc.; and Intel Corporation, the adoption of gesture recognition is high in the consumer electronics and gaming industries. In January 2021, Qualcomm Technologies, Inc. (a leading wireless tech innovator) acquired Clay AIR (a US-based AI-powered hand tracking and gesture recognition technology company) to strengthen Qualcomm’s XR technology stack. In addition, the inclusion of Clay AIR provides highly accurate and power-efficient hardware-agnostic technology, interaction design, along with the machine learning professionals and industry-leading team of computer vision.

The below figure showcases the revenue growth trend in the global gesture recognition market:Gesture Recognition Market Source: The Insight Partners Analysis

The report analyzes factors, such as drivers, restraints, opportunities, and future trends, impacting the gesture recognition market. It also provides an exhaustive PEST analysis of the factors influencing the market in these regions.

IMPACT OF COVID-19 PANDEMIC

During the COVID-19 pandemic, several industries experienced a significant shift in their business operations. There was a massive implementation of biometrics, facial recognition, and other new technology solutions, primarily at airports, to maintain a distance, which bolstered the gesture recognition market. The adoption of gesture recognition technologies helped to contain the spread of novel coronavirus infection. Also, there was a huge investment made in these technologies across several sectors. In the aviation sector, a boarding pass was printed through gestures or voice for on-boarding process. For instance, in September 2020, Spirit Airlines, Inc., a US-based airline company, launched biometric facial recognition for passenger check-ins. Moreover, biometrics firms in the US developed biometric solutions to bypass travel documents at the security checks in airports during the health crisis. Therefore, the demand for gesture recognition increased during the COVID-19 pandemic and is also set to increase during the forecast period.

World Geography

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MARKET PLAYERS

Various companies in the gesture recognition market are focusing on organic growth strategies such as product launches, product approvals, patents, and events. Acquisitions and partnerships & collaborations are among the inorganic growth strategic activities witnessed in the market. These activities have paved the way for the expansion of business and the customer base of market players. The market players are anticipated to experience lucrative growth opportunities during the forecast period owing to the rising demand for gesture recognition solutions.

The report also includes the profiles of key gesture recognition market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players’ information such as company profiles, components and services offered, financial information of the last three years, and key development in the past five years. Below is a list of a few companies engaged in the gesture recognition market.

  • Synaptics Incorporated
  • Qualcomm Technologies, Inc.
  • Microsoft
  • Microchip Technology Inc.
  • Intel Corporation
  • Infineon Technologies AG
  • Cipia Vision Ltd.
  • Apple Inc.
  • Alphabet Inc
  • Cognitec Systems GmbH

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.Market Research

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Technology, Type, Industry Vertical, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

1. Apple Inc.
2. Cognitec Systems GmbH
3. GestureTek technologies
4. Google LLC
5. IrisGuard Ltd
6. Microchip Technology Inc.
7. Microsoft Corporation
8. OMNIVISION TECHNOLOGIES, INC.
9. pmdtechnologies gmbH
10. Sony Depthsensing Solutions SA/NV

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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