Report Code: TIPTE100000177 | No. of Pages: 150 | Category: Technology, Media and Telecommunications | Status: Prebook
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 Size Value in||US$ 12.93 billion in 2021|
|Market Size Value by||US$ 51.48 billion by 2028|
|Growth rate||CAGR of 22.3% from 2022 to 2028|
|No. of Pages||150|
|Historical data available||Yes|
|Segments covered||Technology, Type, Industry Vertical, and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
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:
Get more information on this report :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.
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.
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.
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.
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