Gesture Recognition Market Detailed Study on Business Strategies, Development Factors, Future Trends, Opportunities, and Demand Outlook till 2031

Kenneth Research, in its repository of market research reports, have recently added a report on Gesture Recognition Marketwhich emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Gesture Recognition Marketis anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Gesture Recognition Market products.

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The Gesture Recognition Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.

Market Snapshot

The Global Gesture Recognition Market is expected to expand at a 27.58% CAGR during the forecast period 2017–2023.Gesture recognition is a technology that recognizes human gesture to communicate and control electronic devices. Gesture refers to movements of hands, fingers, body, and other physiological controls. This technology uses various sensors, namely, infrared sensors and image sensors to recognize and interact with the devices. Processes manufacturers incorporating gesture recognition, the emergence of gesture as a new way of communicating with machines, development of motion control gaming, and growing consumer electronics market are the factors contributing to the growth of gesture recognition market. However, technical challenges in 3D gesture interaction and limited hardware capabilities are the factors hampering market growth.

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Motion-control in the gaming industry has gained traction in the global gaming console market. The use of motion controllers in gaming helps the gamer use natural hand gestures to control games. The usage of this technology helps increase the awareness about gesture recognition-based gaming consoles. It is also considered as the first step towards gesture recognition for gaming. Major console manufacturers such as Microsoft, Sony, and Nintendo have developed numerous motion controllers that are widely used in the industry. For instance, Sony’s PlayStation Move can be used with its PlayStation Eye camera, and up to four such motion controllers can be connected at once to enable multiplayer gaming. Nintendo’s Wii Remote is a motion controller that can be used with Wii U game consoles.

Based on application, the global market for gesture recognition is dominated by the consumer electronics segment and also expected to grow with the fastest CAGR of 30.37% during the forecast period. Gesture recognition has a wide application area across the consumer electronics segment. Growing penetration of smartphones and other smart devices is a major driver for the global gesture recognition market due to the growing use of gesture recognition technology in smartphones. The ever increasing per capita disposable income of consumers around the world has driven the global demand for smartphones and other smart devices with gesture recognition capabilities.

Based on technology, the global market for gesture recognition is dominated by sensor technology, whereas the 3D technology segment is expected to grow with the fastest CAGR of 30.65% during the forecast period. 3D gesture technology is majorly used for Computer Generated Images (CGI) and animation, which requires substantial computing power.

Based on product, the global market for gesture recognition is dominated by the touch-based product type, whereas the touchless product is expected to grow with the fastest CAGR of 32.42% during the forecast period. Touchless hand gesture enables communication using simple hand movements such as right swipe, left swipe, swipe up, swipe down, push in, and push out, without touching the screen of the device, which enhances the overall user experience.

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Regional Analysis

Global Gesture Recognition Market Share, by Region, 2017 (%)

Source: – MRFR Analysis

The global gesture recognition market, by region, has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.North America accounted for the largest market share of 38.55% in 2016, with a market value of USD 1.85 billion; the market is expected to register 26.76% CAGR during the forecast period. Europe was the second-largest market in 2017, valued at USD 1.86 billion. Asia-Pacific is projected to grow at the highest CAGR of 30.28% during the forecast period. The growth of the market in the region is driven by the technological advancements and early adoption of gesture recognition technology in the region.

Companies Covered

The key players of the global gesture recognition market are Microsoft Corporation (US), Intel Corporation (US), Apple Inc. (US), Iris guard (UK), Qualcomm Incorporated (US), Omron Corporation (Japan), SoftKinetic Inc. (Belgium), Texas Instruments (US), and Infineon Technologies AG (Germany).

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Market Segmentation

By Technology – Sensor, 2D Gesture Technology, and 3D Gesture Technology

By Application – Automotive, Healthcare, Consumer Electronics, Transportation, Commercial, IT/Telecom and Others

By Product – Touchless and Touch-Based

Key questions addressed by the report

What was the historic market size (2016)?

Which segmentation (Technology/ Application/ Product) is driving the market?

What will be the growth rate by 2023?

Who are the key players in this market?

What are the strategies adopted by key players?

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