Global gesture recognition market was valued at USD 7.5 billion in 2014 and anticipated to reach USD 29.1 billion by 2021 at a CAGR 20.3% from 2015 to 2021.
Albany, NY -- (SBWIRE) -- 11/08/2016 -- User-friendliness of gesture recognition enabled devices along with growing application of gesture control solutions in healthcare, retail sector, and industrial settings are some of the major factors contributing to the growing popularity of gesture recognition technology at the global level. Increasing consumer preference for gesture control devices which includes tablets, PCs, laptops are contributing in the growing popularity of gesture recognition technology globally.
The importance of gesture recognition technology lies in developing efficient interaction between humans and machines. Increasing application of gesture recognition technology in consumer electronics is among the key factors boosting the gesture recognition market at the global level. 3D vision and gesture tracking solutions in gaming consoles along with 2D gesture recognition technology in smart TVs, PCs, and tablets is fueling the demand for touch less gesture recognition technology. Limited numbers of recognizable gestures along with inaccurate and inefficient systems are certain factors hindering the growth of the gesture recognition market globally. However, technological advancements in the gesture recognition market coupled with rising demand for this technology in smartphones are offering great opportunities for the major players in the gesture recognition market.
Development of 3D Vision and gesture tracking technology along with growing prominence of 2D gesture recognition technology in the consumer electronics is expected to have a huge impact on this market in the short, medium, and long term. Furthermore, rising number of strategic partnerships between various automobile and gesture recognition technology companies is having a positive impact on the growth of the gesture recognition market. Increasing adoption of gesture recognition solutions in the automotive industry is one of the prime reasons behind the growth of global gesture recognition market. In addition, 1growing gesture-based interaction in factory automation and increasing application of gesture recognition solutions in the industrial sector is fueling the demand for gesture control technology at the global level.
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Geographically, the global gesture recognition market is categorized into North America, Europe, Asia Pacific and Rest of the World (RoW). The scope of the report offers an insight into gesture recognition market in these regions based on revenue (USD million). In addition, current and future trends in the gesture recognition market are covered in the report. North America led the market for gesture recognition in 2014, followed by Europe. Rising demand for gesture control solutions in consumer electronics such as smartphones, tablets, and other devices is major reason propelling the growth of this market. The U.S. is leading the gesture recognition market in North America. Growing popularity of gesture control solutions in automotive and gaming consoles is boosting demand for gesture recognition technology at the global level. Germany and U.K dominated the market for gesture recognition in 2014. Increasing application of gesture recognition technology in touch less sanitary equipment and biometric systems are factors influencing the growth of this market in Asia Pacific. In Asia Pacific, major contributors to the gesture recognition market are China, Japan, India, and South Korea among others. Moreover, emergence of 3D camera based technology along with ultrasonic technology is stimulating the demand for gesture control solutions across Rest of the World.
Based on application, the market is segmented into Automotive, hospitality, consumer electronics, gaming, aerospace and defense, commercial centers, educational hubs, medical centers among others. Application of gesture recognition technology in consumer electronics such as smartphones, smart TVs, tablets, laptops is one of the major driving factors behind the growth of gesture recognition market globally in 2014, followed by automotive and gaming segments. Reliability along with user-friendliness is some of the major factors fueling the application of gesture recognition technology in consumer electronics.
Furthermore, by technology the market is segmented into touch-based gesture recognition and touch less gesture recognition. Moreover, gyroscope, accelerometer, combo sensor comes under touch-based gesture recognition and ultrasonic, infrared 2D array comes under touch less gesture recognition. The touch based gesture recognition segment held the largest share of the gesture recognition market in 2014, followed by touch less gesture recognition.
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Product innovation and development is one of the key strategies adopted by most leading market players. New product innovation is required to deal with the existing competition in the market. For instance, in March 2015, Cognitec Systems GmbH introduced a specialized camera with in-built features such as facial detection and tracking technology. The product offers optimal image quality for real-time face recognition, while requiring low bandwidth resources and relatively little computing hardware. Companies are involved in research and development activities to create new innovative products. In addition, mergers and acquisitions are among the major strategies that are widely used by leading market players in the gesture recognition industry globally. Some major players in the gesture recognition market in North America, Europe, Asia Pacific, and RoW include GestureTek, Inc. (U.S.), Intel Corporation (U.S.), Apple Inc. (U.S.), Microsoft Corporation (U.S.), Google Inc. (U.S.), Cognitec Systems GmbH (Germany), OMRON Corporation (Japan), Infineon Technologies AG (Germany), SoftKinetic SA (Belgium) and Elliptic Laboratories AS (Norway).
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