Global Gesture Recognition Market Report, published by Variant Market Research, forecast that the global market was valued at $13.1 billion in 2016 and is expected to reach $43.6 billion by 2024; growing at a CAGR of 16.2% from 2016 to 2024. In geographical segments, Asia-Pacific and RoW are expected to grow at a CAGR of 17% and 15.9%, respectively, during the forecast period 2016-2024.
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Surging application of gesture control features in automobiles, increasing digitalization across industries and consumer awareness towards data security are the primary key factors driving the global gesture recognition market. However, due to lack of awareness, higher switchover cost, and need for continuous power supply limits the market growth. Though, factors such as high availability of efficient equipment, hygiene & user experience, and rising concern for safety are expected to generate several growth opportunities for the market.
The global gesture recognition market has been classified on the basis of application and technology. By application, the market is categorized into automobile, aerospace & defence hospitality, gaming, consumer electronics, educational hubs, medical centers, commercial centers, and others. Classification by technology is touch less gesture recognition and touch-based gesture recognition. On the basis of sensors, touch less gesture recognition is classified into infrared 2D – array and ultrasonic. Although, touch-based gesture recognition is further segmented by sensors into accelerometer, gyroscope, and combo censor. By application, the largest market share in 2016 was occupied by consumer electronics, due to increased adoption of gesture recognition electronic devices in the global market.
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Geographically, the market is classified into North America, Europe, Asia-Pacific and Rest of the World (RoW). In 2016, the largest market share of 35% was occupied by North America, driven by, increased penetration of smartphones, smart TV’s, and cameras in the region. The second largest market share of 30.1% was held by Europe. In terms of growth, Asia-Pacific is expected to achieve the fastest CAGR of 17% during the forecast period, due to augmented consumer demand for electronic devices, and high growth in automobile sector.
The major players in the market include Google Inc., Sony, Samsung, Microsoft, Intel, ArcSoft, Crunchfish, eyesight Technologies, SoftKinetic, PointGrab, and among others.
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Scope of Gesture Recognition Market
Application Type Segment
- Consumer electronics
- Aerospace & defence
- Commercial centres
- Educational hubs
- Medical centres
Technology Type Segment
- Touch-Based Gesture Recognition
- Combo Censor
- Touch Less Gesture Recognition
- Infrared 2D-Array
- North America
- South Korea
- South America
- Middle East
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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