Albany, New York, Nov. 13, 2018 (GLOBE NEWSWIRE) -- The global gesture recognition market is recognized with few players. Apple, Google, Intel, and Microsoft are some of the globally recognized players present in the market. These players are focusing on research and development in order to produce technological beneficiaries. This is likely to help the company to expand and diversify their product portfolio in the market. On the other hand, local players are attracting investors by showing growth potential. This is likely to heat up the competition. Growing application of gesture recognition in industrial automation, automobile, and smart phones are anticipated to drive the global market. Aggressive growth of the automobile industry is likely to support the gesture recognition market in years to come.
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According to Transparency Market Research, the global gesture recognition market is anticipated to expand at a robust CAGR of 16.2% during the forecast period 2016 – 2024. The market which was valued at US$ 11.60 bn in 2016, is anticipated to touch the valuation of US$8.56 bn by the end of the tenure period. Consumer electronics of other applications in the market held a share of 35.5% in recent years. Rising demand for cameras, multimedia consoles of automobiles, and smart TVs is likely to help the market grow. Consumer electronics segment is anticipate to rise at 14.6% CAGR during the assessed period. On the basis of region, North America held the major share of 35% of the overall market owing to the presence of major player. The region is expected to expand at 15.1% of CAGR during the forecast period.
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Improper Inputs in Gesture Recognition Application to Deter Market Growth
Increasing penetration of mobile devices all across the world is expected to catapult the demand for innovative gesture recognition, this is likely to help the market grow. In the developed countries, mobile devices such as smartphones, tablets, and laptops have gained immense popularity, thus rising their demand to new height. Developing countries are witnessing a high demand of mobile devices, as factors such as rise in disposable income and preference for a better lifestyles helps. However, it has been noticed issues related to gesture based interfaces have made the people rely on traditional input. Developers of the gesture based recognition needs to make sure that the gestures are recognized quickly and correctly, thus avoiding any time loss of the consumer. Another factor that is foreseen to hamper the growth of the market is the self-revealing and self-explanatory factor of gesture recognition devices. For instance, a user can understand what a button can do, whereas in case of gesture, it is difficult to understand.
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Extensive Use of Gesture Recognition Devices in Automobile Industry to Bolster Market Growth
The global gesture recognition market is likely to witness a strong demand owing to innovative features in years to come. Major technology brands are extensively carrying research and development activities in order to produce enhanced and more accurate products, these have compelled various investors to turn around their heads, thus pushing the market in a positive direction. Popularity of gesture recognition devices have increased in comparison to touch based control system owing to surge in uptake of gesture technology in automobile industry. Another driver that is helping the market to rise is that the gesture recognition technology helps physically disabled person to operate devices.
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The information shared in this review is based on a TMR report, titled, “Gesture Recognition Market (Technology - Touch Based Gesture Recognition (Gyroscope, Accelerometer, Combo Sensor), Touchless Gesture Recognition (Ultrasonic (3D Gesture), Infrared 2D Array, Camera Solutions); Application - Automotive, Hospitality, Consumer Electronics, Gaming, Aerospace and Defense, Commercial Centers, Educational Hubs, Medical Centers) - Global Industry Analysis Size Share Growth Trends and Forecast 2016 - 2024”
The global gesture recognition market has been segmented as presented below:
- By Application
- Automotive
- Hospitality
- Consumer electronics
- Gaming
- Aerospace and defense
- Commercial centers
- Educational hubs
- Medical centers
- By Technology
- Touch based gesture recognition
- Gyroscope
- Accelerometer
- Combo Sensor
- Touchless gesture recognition
- Ultrasonic (3D gesture)
- Infrared 2D Array
- Camera Solutions
- Touch based gesture recognition
- By Region
- North America
- S.
- Canada
- Mexico
- Europe
- K
- Germany
- France
- Rest of Europe
- Asia Pacific
- India
- China
- Japan
- South Korea
- Rest of Asia Pacific
- Rest of the World (RoW)
- Latin America
- Middle East and Africa
- North America
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