PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1533193
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1533193
The gesture recognition and touchless sensing market is projected to grow from USD 24.6 billion in 2024 to USD 62.2 billion by 2029; it is expected to grow at a CAGR of 20.4% during the forecast period. Some major factors driving the growth of the gesture recognition and touchless sensing market include the demand for connectivity in the automotive industry, growth in awareness regarding contactless equipment, and tracking and controlling functionality upgrades in touchless biometric solutions. However, high replacement expenses and user resistance to new products are a challenge for the market in the near future. The major growth opportunities for the market players are higher use of gesture recognition in VR and video games.
Scope of the Report | |
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Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion) |
Segments | By Technology, Touchless Sensing Product, Gesture Recognition Type, Industry and Region |
Regions covered | North America, Europe, APAC, RoW |
"The market for consumer electronics in the gesture recognition market is expected to have the highest share during the forecast period."
Over the course of the forecast period, the gesture recognition market segment with the largest share is anticipated to be consumer electronics. With the growing demand for bezel-less and notch-less designs, gesture recognition technologies find greater adoption. 3D sensing technology in virtual reality games helps players control the game through mere gestures without physical contact with the gaming console. Many consumer electronic device manufacturers, like ASUS from Taiwan, Dell from the US, Lenovo from Hong Kong, and HP from the US, have already started integrating 3D cameras into their devices. 3D cameras can assess the depth of an image and help to differentiate light reflected from the human body from that of the surroundings. Hence, this growing deployment of 3D cameras will likely boost the consumer electronics segment in the gesture recognition and touchless sensing market during the forecast period.
"Automotive segment in touchless sensing market is expected to register the highest CAGR during the forecast period."
The automotive segment of the touchless sensing market is anticipated to witness the highest growth during the forecast period. The integration of touchless sensing technology in automobiles enhances the experience and provides an easy and safe operating interface to users. Touchless biometric technology is used in cars for access control and in-car infotainment. Automobile giants such as BMW (Germany) and Volkswagen (Germany) are leaping into the touchless sensing market by integrating touchless biometric technology in high-end cars.
"North America is expected to have the largest share among other regions in the forecast period."
North America is expected to have the largest share of gesture recognition and touchless sensing in the forecast period.
In recent years, the gesture recognition and touchless sensing market in North America have witnessed significant advancements. North America is always at the forefront of adopting advanced technology and associated services. The deployment of augmented reality (AR) and virtual reality (VR) technologies in the gaming and entertainment industries has accelerated the adoption of gesture recognition products and solutions in the region.
The government takes favorable initiatives in North America to strengthen regulatory activities, and security operations have encouraged the growth of the touchless sensing market. Moreover, the demand for finger-scan biometric technologies for user authorization is expected to increase the demand for PC/network security applications.
The market size for segments and subsegments was gathered through extensive secondary research, and primary interviews were conducted with key industry experts in the gesture recognition and touchless sensing market.
The report profiles key players in the gesture recognition and touchless sensing market with their respective market ranking analyses. Apple Inc. (US), (US), Google LLC (US), Infineon Technologies (Germany), Sony Depthsensing Solutions (Belgium), Cognitec Systems GmbH (Germany), GestureTek (Canada), OmniVision Technologies (US), and IrisGuard (UK), among others.
Research Coverage
This research report categorizes the gesture recognition and touchless sensing market based on technology, end-user industry, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the gesture recognition and touchless sensing market and forecasts the same till 2029. The report also consists of leadership mapping and analysis of companies in the gesture recognition and touchless sensing ecosystem.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall gesture recognition and touchless sensing market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.