New York, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Gesture Recognition Market Size, Share, Growth, Trends and Global Forecast to 2028 - COVID-19 Impact and Global Analysis 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”; The global gesture recognition market size is expected to grow from USD 12.93 billion in 2021 to reach USD 51.48 billion by 2028, registering at a CAGR of 22.3% from 2022 to 2028.
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Global Gesture Recognition Market – Report Scope:
| Market Size Value in | USD 12.93 billion in 2021 |
| Market Size Value by | USD 51.48 billion by 2028 |
| Growth rate | CAGR of 22.3% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| 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 |
Gesture Recognition Market: Competitive Landscape and Key Developments
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 operating in the gesture recognition market.
In December 2021: Xi Yu of Sun Yat-sen University in China developed a new hand gesture recognition algorithm that is accurate, complex, and applicable. The researcher revealed that hand gestures are increasingly being adopted for human–computer interaction. Advancements in camera systems, machine learning, and image analysis have enhanced optical-based gesture recognition.
In August 2020: Scientists at Nanyang Technological University, Singapore, developed an AI system that identifies hand gestures by merging skin-like electronics with computer vision. The introduction of human hand gestures by AI systems has been a valuable development and has been adopted in high-precision surgical robots, health monitoring equipment, and gaming systems, thereby accelerates the gesture recognition market growth.
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Global Gesture Recognition Market – Regional Insights:
North America held the largest share of the global gesture recognition market in 2021 and is expected to continue its dominance during the forecast period. Due to the significantly high demand for consumer electronics and digitization across various industry verticals such as automotive and healthcare, the demand for gesture recognition technologies continues to rise in the region. Due to the low technical complexity of adopting the technology, gesture recognition technology is widely observed among physically challenged people. The government takes favorable initiatives to strengthen regulatory activities and security operations, mainly in building employee access monitoring, which are subsequently propelling the gesture recognition market in the region.
In Europe, gesture recognition technologies are rapidly adopted in automotive, consumer electronics, and industrial automation. Increasing demand for automated security solutions and technological advancements, rising smartphone penetration, and growing use of internet-connected devices are accelerating the demand for gesture recognition technologies in the region. The adoption of advanced technologies, the surge in security threats, and the increasing governmental concerns for safety and security are among the factors driving market growth in Europe.
The gesture recognition market in Asia Pacific is expected to grow at the fastest growth rate during the forecast period due to increasing disposable incomes, rising demand for smartphones and smart technologies in the educational sector, and growing industrial digitization. Consumer electronics is leading the adoption of gesture recognition technology, followed by the automotive segment. Organizations are expanding their businesses to deliver their offerings and approach more verticals in South Korea, India, Japan, and China.
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The gesture recognition market in the MEA and South America is expected to showcase promising growth over the forecast period. These regions have a dynamic young population with one of the highest global per capita incomes, along with higher reach of industrial digitization, further contributing to the market growth. Improvements in living standards, increase in spending capacity, and growing awareness about touchless technologies are among other factors anticipated to boost the market in the coming years.
Gesture Recognition Market: Technology Overview
In terms of technology, the global gesture recognition market is bifurcated into touch-based and touchless gesture recognition. The touchless gesture recognition segment dominated the gesture recognition market in 2021. There is a growing preference for touchless gesture recognition mainly due to the benefit of less wear & tear on the devices. It maintains complete cleanliness and safety and boosts customer satisfaction with simplified processes—users can make simple gestures to control or interact with devices without physically touching them. Touchless gesture recognition technology largely provides health benefits, as the hand-gesture recognition system enables doctors to manipulate digital images during medical procedures using hand gestures. These factors, as a result, accelerate the adoption of touchless gesture recognition technology in the market.
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Gesture Recognition Market: COVID-19 Overview
Several industries have witnessed a significant business shift during the global health crisis. Also, a positive impact on the growth of the global gesture recognition market due to the rapid implementation of new technology solutions such as facial recognition and biometrics was observed. Moreover, gesture recognition technologies mainly helped to contain the spread of COVID-19 and speed up the onboarding process at the airport. In September 2020, Spirit Airlines, Inc., a US-based airline company, launched biometric facial recognition for passenger check-ins at Chicago O’Hare and New York LaGuardia airports. As a result, the pandemic positively impacted the gesture recognition market, which is expected to grow significantly in the coming years.
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