Gesture Recognition Market Worth $30.6 Billion By 2025 | CAGR: 22.2%



The global gesture recognition market size is likely to reach USD 30.6 billion by 2025. It is poised to post a CAGR of 22.2% from 2018 to 2025, according to a new report by Grand View Research, Inc. Increasing digitization across various industries is benefiting the growth of the market. Ease of adoption due to low technical complexity for end users is escalating its implementation across the consumer electronics industry. Several other industries have also started using this technology. Similarly, the touchless gesture recognition market is primarily driven by factors such as rising hygiene consciousness, government measures for water conservation, low maintenance cost, and booming hospitality and tourism industry.
Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.
Surging use of consumer electronics and Internet of Things, along with increasing need for comfort and convenience in product usage, is boosting the growth of the gesture recognition market. Technological advancements and ease of use are helping the market gain momentum over the coming years. Increasing awareness regarding regulations and driver safety are bolstering the demand for gesture recognition systems in the automobile industry. Similarly, spiraling customer demand for application-based technologies is stimulating market growth.
Gestures are visible body actions through which human express information to others without saying it. In our daily lives, we see several hand gestures that are frequently used for communication purposes. Hand gesture recognition is one of the advanced research fields, which provides a way for human-machine interaction. Hand gesture recognition provides an intelligent method for human-computer interaction (HCI).
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/gesture-recognition-market/request/rs1
The market is volatile and is experiencing a fierce competition, therefore, witnessing high number of mergers and acquisitions. For instance, Intel Corp. acquired Omek Interactive Ltd. Some of the key players in the market are Apple, Intel, Microsoft, and Google. Along with global giants, local and regional players are also showing tremendous growth and attracting big investors. This scenario has taken the competition to a whole different level.
Further key findings from the report suggest:
·         Increasing digitization across various industries and ease of adoption due to low technical complexity for end users are poised to propel the market
·         The healthcare segment is projected to experience substantial CAGR of 27.0% over the forecast period
·         Asia Pacific was the highest revenue contributor in 2017. It is expected to witness significant growth over the forecast period
·         The key players of the market include Apple Inc.; eyeSight Technologies Ltd; and Infineon Technologies AG.
The global gesture recognition market size was valued at USD 6.22 billion in 2017. It is projected to expand at a CAGR of 22.2% from 2018 to 2025, owing to increasing per capita income, rising technological advancements, and burgeoning digitization across various industries such as automotive, consumer electronics, and healthcare. Surging use of consumer electronics, growing implementation of Internet of Things (IoT), and soaring need for comfort and convenience in product usage are also providing an upthrust to the market.
Gesture recognition is conversion of a hominid movement or signal to a command using a mathematical algorithm. It enables any person to interrelate with the machine in absence of any physical devices, as an input mechanism to perform desired actions in a system. The technology interprets human gestures and movements, such as movement of hands, fingers, arms, head, or the entire body. It allows users to operate and control devices merely with their gestures.
For instance, users can move cursor by simply pointing a finger at the screen. This makes input devices such as touchscreens, keyboards, and mouse redundant. Gesture recognition technology has improved usability of several devices and has occasioned progression of several innovative applications in various industries.
Gestures are visible body actions through which human express information to others without saying it. In our daily lives, we can see several hand gestures, which are frequently used for communication purposes. Hand gesture recognition is one of the most advanced research fields that provide a means for human-machine interaction (HMI) and human-computer interaction (HCI). Its applications range from medical rehabilitation to consumer electronics control.
Different types of sensing techniques are used to identify various hand gestures. Sensing techniques are used to obtain multiple signals for pattern recognition. Different kinds of prototypes developed are easy to use and understand and they are more cost-effective than traditional interface devices such as keyboard and mouse. Hand gestures are highly expressive in terms of interacting with the environment or communicating any information.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-gesture-recognition-market
Similarly, touchless sensing offers evolutionary technology in human-machine interface (HMI). Touchless technology detects motion or presence within vicinity of a sensor and enables scanning of biometric images without any need to touch sensors physically. It combines advantages of both optical sensing as well as biometric sensing systems. As soon as an object comes near touchless sensors, optical source illuminates the object and cameras scan that image. These optical sources are highly sophisticated and guarantee high image quality.
Grand View Research has segmented the global gesture recognition market based on technology, industry:
Gesture Recognition Technology Outlook (Revenue, USD Million, 2014 - 2025)
·         Touch-based
o    Multi-Touch System
o    Motion Gesture
·         Touchless
o    Capacitive/Electric Field
o    Infrared Array
o    Ultrasonic Technology
o    2D Camera-Based Technology
o    3D Vision Technologies
Gesture Recognition End-use Outlook (Revenue, USD Million, 2014 - 2025)
·         Automotive
o    Lighting System
o    HUD
o    Biometric Access
o    Others
·         Consumer Electronics
o    Smartphone
o    Laptops & Tablets
o    Gaming Console
o    Smart TV
o    Set-Top Box
o    Head-Mount Display (HMD)
o    Others
·         Healthcare
o    Sign Language
o    Lab & Operating Rooms
o    Diagnosis
·         Others
o    Advertisement & Communication
o    Hospitality
o    Educational Hubs
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


Comments

Post a Comment

Popular posts from this blog

Foot Orthotic Insoles Market 2026: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.

Image
The global foot orthotic insoles market size is expected to reach USD 5.5 billion by 2026 , according to a new report by Grand View Research, Inc., exhibiting a 6.3% CAGR during the forecast period. Growing incidence of diabetes and plantar fasciitis are expected to drive the market over the forecast period. Moreover, rapid urbanization and increasing disposable income are anticipated to propel growth in future. Technological advancements, spurred by ongoing investments in R&D, are expected to increase growth potential in the coming years. Moreover, rise in geriatric population, which is susceptible to orthopedic disorders, is impelling product demand globally. For instance, in 2017 as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015. In addition, increasing incidence of sports injuries and rising prevalence of osteosarcoma in the region has led to the need for various orthotics devices, which is expected to drive ...
Read more

A Look into Smokehouse Industry……Deep Analysis…..

Image
The global smokehouse market size is anticipated to reach USD 157.2 million by 2025 , according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth. The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution ...
Read more

A Look into Shapewear Industry……Deep Analysis…..

Image
The global shapewear market size is expected to reach USD 3.80 billion by 2025 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The introduction of various products according to the type of garments is expected to support the market growth in the years to come. Growing target population across the globe is also augmenting the market growth. Changing lifestyle incurs increased investment in fitness and related accessories, which has positively impacted the market growth. The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe,...
Read more