Dublin, Nov. 03, 2023 (GLOBE NEWSWIRE) -- The "Global 2D Gesture Recognition Market 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global 2D gesture recognition market demonstrated significant growth in 2022, with a market size of US$108 million. Looking ahead, it is projected to expand substantially, reaching a value of US$457.4 million by 2028, showcasing a remarkable Compound Annual Growth Rate (CAGR) of 25.7% during the period from 2023 to 2028. This robust growth is underpinned by several key drivers, including the adoption of 2D gesture recognition technology in the automotive sector, rapid technological advancements, the burgeoning healthcare industry, increasing demand for hands-free operations, and heightened focus on Research and Development (R&D) activities.
Driving Factors for Market Growth:
- Automotive Industry Adoption: The automotive industry is embracing 2D gesture recognition technology to enhance user experience, improve driver safety, and provide intuitive control over in-car systems. This includes using gestures for safety features, interior lighting, seat adjustments, and climate control settings.
- Touchless Interfaces: The demand for touchless interfaces has surged due to health consciousness driven by the COVID-19 pandemic. Gesture recognition technology facilitates hygienic interactions, reducing the risk of germ transmission.
- Technological Advancements: Ongoing technological advancements, including the integration of machine learning algorithms and computer vision techniques, enhance the accuracy and real-time recognition capabilities of 2D gesture recognition systems.
- Customizable Gesture Sets: The introduction of customizable gesture sets allows users to personalize interactions, adapting the technology to their specific preferences, further propelling market growth.
- Healthcare and Rehabilitation Applications: The healthcare industry is increasingly using 2D gesture recognition to monitor and analyze patients' movements during physical therapy exercises, leading to better patient outcomes and personalized treatment plans.
- Consumer Electronics Integration: 2D gesture recognition technology is gaining popularity in the consumer electronics industry, expanding its applications and market reach.
- Focus on Research and Development: An advanced focus on R&D activities is fostering innovation and driving the evolution of gesture recognition systems.
Key Market Segmentation
The market is segmented based on technology and industry verticals:
Technology Insights:
- Touch-Based Gesture Recognition
- Touch-Less Gesture Recognition
Industry Vertical Insights:
- Automotive
- Consumer Electronics
- Banking Financial Services and Insurance (BFSI)
- Government
- Others
Regional Insights
The global 2D gesture recognition market is analyzed at regional levels:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
North America Dominance
North America emerged as the largest market for 2D gesture recognition. Factors contributing to this dominance include the adoption of the technology in the automotive sector, rapid technological advancements, and the introduction of customizable gesture sets.
Competitive Landscape
The competitive landscape of the global 2D gesture recognition market is highly dynamic. Several major companies are at the forefront of this sector, including Crunchfish, GestureTek, and Ultraleap. Note that this is not an exhaustive list, and a complete list of key players can be found in the full report.
Key Questions Addressed in the Report:
- Past and Future Performance: The report assesses the historical and expected future performance of the global 2D gesture recognition market.
- Driving Factors: It identifies the key drivers, restraints, and opportunities shaping the market.
- Regional Markets: The report analyzes the most attractive regional markets and the countries within them.
- Technology Breakdown: It presents insights into the market's technology segmentation and identifies the most attractive technology.
- Industry Vertical Analysis: The report delves into the various industry verticals using 2D gesture recognition and highlights the most attractive vertical.
- Competitive Landscape: A comprehensive overview of the key players and companies operating in the 2D gesture recognition market is provided.
In conclusion, the global 2D gesture recognition market is on an upward trajectory, driven by factors such as increased adoption in the automotive and healthcare industries, technological advancements, and the demand for touchless interfaces. With North America leading the charge, this market presents promising opportunities for both established companies and newcomers.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $108 Million |
| Forecasted Market Value (USD) by 2028 | $457.4 Million |
| Compound Annual Growth Rate | 27.2% |
| Regions Covered | Global |
Key Topics Covered
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global 2D Gesture Recognition Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Technology
6.1 Touch-based Gesture Recognition
6.2 Touch-less Gesture Recognition
7 Market Breakup by Industry Vertical
7.1 Automotive
7.2 Consumer Electronics
7.3 Banking Financial Services and Insurance (BFSI)
7.4 Government
7.5 Others
8 Market Breakup by Region
8.1 North America
8.2 Asia-Pacific
8.3 Europe
8.4 Latin America
8.5 Middle East and Africa
9 Drivers, Restraints, and Opportunities
9.1 Overview
9.2 Drivers
9.3 Restraints
9.4 Opportunities
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
- Crunchfish
- GestureTek
- Ultraleap
For more information about this report visit https://www.researchandmarkets.com/r/z3qyye
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