Pune, India, Aug. 03, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global gesture recognition market size was valued at USD 15.19 billion in 2022 and is projected to grow from USD 19.37 billion in 2023 to USD 115.70 billion by 2030, exhibiting a CAGR of 29.1% during the forecast period. Rise in Need for Touchless Systems Driven in Various Fields to Drive the Market Growth. Fortune Business Insights presents this information in their report titled "Global Gesture Recognition Market Forecast, 2023-2030."
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Gesture recognition is the technology that helps in interpreting human gestures and analyzing movements in real-time, captured by sensors or cameras. This technology has various natural and intuitive interaction between machines and humans, enabling users to control devices or gestures instead of traditional input methods.
Key Industry Development:
April 2023: Elmos revealed sensor IC solutions at Sensor+Tesy, showcasing innovative concepts for intelligent switches for advanced gesture control. This technology enables the seamless enhancement of automotive and industrial applications and human-machine interaction through intuitive gestures.
Key Takeaways
- Gesture recognition market size in North America was USD 5.72 billion in 2022
- Surge in Adoption of Gesture Recognition Technology to Propel the Market Growth
- Increasing Need for Improved User Experience and Satisfaction to Drive the Human-computer Interaction Segment
- Rising Awareness of Touchless Systems to Lead to the Highest CAGR of the Segment
Discover the Leading Players Featured in the Report:
“Companies leading the global gesture recognition market are Intel Corporation (U.S.), Jabil Inc. (U.S.), Microchip Technology Inc. (U.S.), Sony Corporation (Japan), Elliptic Laboratories ASA (Norway), GestureTek (U.S.), Microsoft Corporation (U.S.), Google LLC (U.S.), Cipia Vision Ltd. (India), Ultraleap (U.K.), Apple Inc. (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 29.1% |
| 2030 Value Projection | USD 115.70 Billion |
| Base Year | 2022 |
| Gesture Recognition Market Size in 2022 | USD 15.19 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 140 |
| Segments covered | System Type, Application, and Region |
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Drivers & Restraints:
Increase in the Need for Touchless Systems in Several Fields to Drive the Market Growth
The technology provides touchless interaction, deleting the need for physical contact with devices or interfaces. This touchless capability has earned considerable importance in several sectors, especially public spaces such as retail stores, airports, hospitals, and public transportation systems. Hence, the gesture recognition market share is anticipated to grow during the projected period.
The implementation and development costs associated with the technology are very high, thereby limiting the gesture recognition market growth during the forecast period.
Segmentation
By System Type
- Touchless
- Touched
By Application
- Human-computer Interaction
- Gaming
- Virtual Reality
- Robotics
- Healthcare
- Automotive
- Others
By Region
- North America (the US and Canada)
- Europe (the United Kingdom, Germany, France, Italy, Spain, Scandinavia, and the rest of Europe)
- Asia Pacific (including Japan, China, India, Australia, Southeast Asia, and the remaining countries in the region)
- South America (including Brazil, Mexico, and the rest of South America)
- Europe, Asia, and Africa (South Africa, GCC, and Rest of the Middle East & Africa)
Regional Insights:
North America Holds the Largest Market Share Owing to Increase in Demand for Smart Devices
North America dominates the market share owing to the rising demand for intuitive human-machine interfaces, rising adoption of smart devices, and advancements in sensor technology. The regional market is competitive due to several key players of gesture recognition such as Intel Corporation, Microsoft Corporation, Apple Inc., Intel Corporation, and EyeSight Technologies.
Asia Pacific is expected to grow with the highest CAGR during the projected period. Factors, such as increasing demand for advanced human-machine interface technologies, growing adoption of smartphones, and rising consumer electronics sales, account for the market growth.
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Competitive Landscape:
Prominent Players Introduce New Products to Support Market Positioning
Key players in the market, such as Elliptic Laboratories ASA, Intel Corporation, and Microchip Technology Inc., adopt new product launches and advanced solutions to meet customer demands.
FAQs
How big is the gesture recognition market?
The gesture recognition market size was USD 15.19 billion in 2022. It is expected to reach USD 115.70 billion by 2030.
How fast is the gesture recognition market growing?
The gesture recognition market will exhibit a CAGR of 29.1% during the forecast period, 2023-2030.
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