Gesture Recognition Market Size, Share, Growth, Trends, Industry Analysis Report
by Susan Hill Business ConsultantThe 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.
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).
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.
Access
full research report on global gesture recognition market:
www.grandviewresearch.com/industry-analysis/gesture-recognition-market
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Created on Jan 13th 2020 08:46. Viewed 425 times.