Pune, India -- (SBWIRE) -- 04/26/2018 -- Gesture Recognition – Market Synopsis

The 21st century is witnessing an all-time high demand for digitalization of electronics. This demand has given the global gesture recognition market a much needed push. According to the research report published by MRFR (Market Research Future), this market is currently in one of its best phases and during the forecast span of 2017-2023, it will touch new heights of success.

Gesture recognition is a technology that can help recipients protect their privacy. It helps individuals to control the access to any of their smart devices by using body movements and gestures.

The Gesture Recognition Market is anticipated to witness remarkable growth in the coming years as the digital revolution is at its peak as of right now and new technologies are adopted fairly quick. The revenue scale is expected to skyrocket by the end of the forecast period. Even the CAGR looks encouraging and supports this estimation.

The gaming industry is currently obsessed with the motion-control technology. This works in the favor of the market as this phenomenon has heightened the demand for recognition- based gaming consoles. Furthermore, it is also being taken as a green signal for the emergence of gesture recognition in gaming.

Rapid technological advancement is another aspect that positively influences the market's expansion. Countless technology assisted devices like laptops, smartphones, gaming consoles and television sets have started inculcating gesture recognition to enhance the product's output. An additional factor that further fosters the growth of the market is the craze amongst customers for this technology.

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Key Players

Some of the key players in the market are Microsoft Corporation (U.S.), Intel Corporation (U.S), Apple Inc. (U.S), Iris guard (Jordan), Qualcomm Inc.(U.S), Prime Sense Limited (Isreal), Omron Corporation (Japan), SoftKinetic (Belgium), Texas Instruments (U.S.), Infineon Technologies (Germany) and others.

Market Segmentation

The worldwide market for gesture recognition has been segmented into three equal parts. All of the three and their respective sub-segments are as below:

- Products – Touch less and touch based systems.
- Technology – 3D gesture technology, sensors and 2D gesture technology. In the technology segment, sensors dominate the market and secure the highest number of shares. In the previous year, this sub-segment generated USD 2.08 million. Over the forecast period, the market is expected to grow at the rate of 24.92%.
- Applications – IT, commercial, automotive, consumer electronics, telecom, transportation and healthcare. Out of these the consumer electronics sub-segment is expected to lead the market. It accounted for the largest share of the market in the previous years and earned around 1.06 billion. During the forecast period it is anticipated to tread forward at the CAGR of around 30.37%.

Comprehensive Regional Analysis

The gesture recognition market is not constrained in terms of region, its presence is felt all across the globe. Some of the major reasons where it is observed majorly are North America, Europe, Asia Pacific and Rest of the World.

After an in-depth study of the regional trends the research report by MRFR (Market Research Future) concluded that North America is at the forefront for this market region-wise. It has a total market share of 38.55% back in 2016 and it registered a turnover of around USD 1.85 billion in that same year. The chief reason for its success are the large scale funding programs being carried out in this area like the Visa Waiver Program (VWP). After it Asia Pacific seems to be the fastest growing region, it is projected to expand at the CAGR of 30.28% during the forecast period.

Industry News

Google recently acquired a small gesture recognition startup called Flutter. This company is renowned for letting the webcam detect motion instead of a completely new device. Flutter can enable recipients to control their computers using gestures that are identified through webcams. This acquisition will prove to be beneficial for the market in the upcoming years.

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Intended Audience:

- Component and equipment suppliers
- Original equipment manufacturers (OEMs)
- Original design manufacturers (ODMs)
- Installers and maintenance service providers
- Research organizations
- Component integrators
- Technology providers

About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.