The gesture recognition market size expected to reach US$ 51.48 billion by 2028; registering at a CAGR of 22.3% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Growing Implementation of Internet of Things (IoT) and Rising Use of Consumer Electronics Catalyze Gesture Recognition Market Growth
Gesture Recognition Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: 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)
Gesture Recognition Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
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Source: The Insight Partners Analysis
Increasing digitalization and the surging need for advanced contactless authentication techniques have bolstered the adoption of gesture recognition in recent years. In the healthcare industry, wearables with gesture recognition are gaining momentum as it offers contactless navigation of X-ray display and magnetic resonance imaging (MRI). In addition, several OEMs and automotive manufacturers are implementing gesture recognition in different systems, such as windshield wipers, air conditioning, and windows, to reduce driver workload and allow safe driving. However, the lack of haptic sensation, diversity of gestures, and nonstandard backgrounds limit the gesture recognition market growth.
In terms of industry verticals, the consumer electronics segment dominated the gesture recognition market in the year 2021 and is anticipated to gain momentum in the coming years. The gesture recognition market growth for this segment is attributed to the increased usage of consumer electronics and easy adoption of gesture recognition due to less technical complexity for end-users. Several companies in the gesture recognition market are focused on expanding the usage of gesture recognition by combining it with touchless multifactor authentication. For instance, in September 2021, Alcatraz AI, which provides physical security technologies solutions, introduced its new authentication solution, the Rock. The company states that the new solution helps minimize touchpoints and offers facemask verification to ensure the maximum safety of employees during the COVID-19 pandemic. Moreover, to follow regulatory guidelines and execute safety measures, the demand for gesture recognition systems has increased drastically in the automobile industry, which is thereby fuelling the gesture recognition market growth.
Gesture recognition involves various methods such as voice recognition, IRIS recognition, facial recognition, eye movement, and leg movement. Moreover, gesture recognition technology is used across several industries, including consumer electronics, automotive, healthcare, and gaming. In August 2020, researchers at Nanyang Technological University, Singapore used the fusion approach for their bioinspired system in the gesture recognition market. They developed an artificial intelligence (AI) system that recognizes hand gestures by combining stretchable strain sensors with computer vision (CV) technology for data acquisition. Also, the researchers achieved recognition accuracy of around 97% even in poor lighting and tested their AI system by guiding a robot with only hand gestures.
Synaptics Incorporated; Qualcomm Technologies, Inc.; Microsoft; Microchip Technology Inc.; Intel Corporation; Infineon Technologies AG; Cipia Vision Ltd.; Apple Inc.; Alphabet Inc; and Cognitec Systems GmbH are among the key players profiled in the gesture recognition market study. Several other major companies were studied and analyzed during this research study to get a holistic view of the gesture recognition market and its ecosystem.
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