What Has Been The Historical And Current Growth Of The Gesture Recognition and Touchless Sensing Market?
The gesture recognition and touchless sensing market has seen considerable growth due to a variety of factors.
• In the past few years, the market size of gesture recognition and touchless sensing has experienced a significant increase. The market will escalate from $19.95 billion in 2024 to an estimated $23.89 billion in 2025, with a compound annual growth rate (CAGR) of 19.8%. The remarkable growth observed in the historical period is a result of initial breakthroughs in the field of human-machine interaction, the implementation of gesture controls in the automotive sector, applications in healthcare and medicine, integration in commercial and retail sectors, and the expansion of smart home automation.
What Are The Predictions for The Gesture Recognition and Touchless Sensing Market Size?
The Gesture Recognition and Touchless Sensing market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, exponential growth is projected for the gesture recognition and touchless sensing market, with expectations to reach $50.7 billion by 2029, presenting a compound annual growth rate (CAGR) of 20.7%.
Factors contributing to this growth for the forecasted period include its use in entertainment and gaming, emphasis on hygiene and sanitary solutions, combination with internet of things (IoT) devices, increase in contactless payments and retail applications, and a rise in automotive adoption. Key trends during this forecasted period are application in healthcare and medical environments, technological advancements in sensing, the growth of augmented reality (AR) and virtual reality (VR), and a surge in consumer electronics.
Which Drivers Are Accelerating Growth In The Gesture Recognition and Touchless Sensing Market?
Advancements in the automotive sector are predicted to stimulate the growth of the gesture recognition and touchless sensing market. The automotive sector encompasses both the design and creation of motorcycles. Gesture recognition and touchless sensing help to minimize driver disturbances brought about by meddling with touchscreens and inconvenient control placements. For example, in August 2023, as per the Board of Governors of the Federal Reserve System, a US government agency, there was a rise in total vehicle production in the United States, increasing from 10.91 million units in June to 11.77 million units in July. Hence, the increasing application in the automotive sector is accelerating the growth of the gesture recognition and touchless sensing market.
What Are The Core Segments Of The Global Gesture Recognition and Touchless Sensing Market?
The gesture recognition and touchless sensing market covered in this report is segmented –
1) By Product: Biometric equipment, Sanitary Equipment
2) By Technology: Touch-based, Touchless
3) By Industry: Automotive, Consumer Electronics, Healthcare, Advertisement And Communication, Defense, Finance And Banking, Government, Other Industries
Subsegments:
1) By Biometric Equipment: Fingerprint Scanners, Facial Recognition Systems, Iris Scanners, Voice Recognition Systems
2) By Sanitary Equipment: Touchless Faucets, Automatic Soap Dispensers, Touchless Hand Dryers, Sanitary Control Systems
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Which Emerging Trends Are Reshaping The Gesture Recognition and Touchless Sensing Market Size?
The primary actors in the gesture recognition and touchless sensing market are concentrating their efforts towards the launch of smartphone image sensors that make use of TheiaCel technology. This is aimed at ensuring a more precise gesture recognition and hassle-free interaction across multiple platforms such as mobile gadgets, smart home tech, and augmented reality. TheiaCel technology is a unique image sensor technology innovatively designed to boost the effectiveness of camera sensors, especially in situations with insufficient lighting. With the application of sophisticated pixel design and production methods, this technology is able to enhance sensitivity and increase image quality. In the specific case of OmniVision Technologies Inc., a United States based company, it unveiled a revolutionary smartphone image sensor known as OV50K40, in March 2024. The OV50K40 has an impressive 50-megapixel resolution with pixel dimensions of 1.2 microns, accommodated in a 1/1.3-inch optical format. This structure facilitates a high gain and offers exceptional performance regardless of light conditions. The groundbreaking technology also involves the use of lateral overflow integration capacitors to boost HDR capabilities, providing superior single-exposure HDR and effectively managing challenges caused by bright backdrops and low lighting conditions.
Who Are the Key Players In The Gesture Recognition and Touchless Sensing Market?
Major companies operating in the gesture recognition and touchless sensing market include:
• Microsoft Corporation
• Microchip Technology Inc.
• Apple Inc.
• Google LLC
• Sony Depthsensing Solutions SA
• Infineon Technologies AG
• Cognitec Systems GmbH
• GestureTek Systems Inc.
• OmniVision Technologies Inc.
• Intel Corporation
• Qualcomm Inc.
• Eyesight Technologies Ltd.
• Omron Corporation
• SoftKinetic International SA
• Texas Instruments Inc.
• XYZ Interactive Technologies Inc.
• Elliptic Laboratories ASA
• PMD Technologies AG
• Oblong Industries Inc.
• Ultraleap Limited
• PointGrab Ltd.
• Leap Motion Inc.
• Xilinx Inc.
• MicroVision Inc.
• Melexis NV
• Vayyar Imaging Ltd.
• Cognitivesignals
• Cognivue Corporation
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What Are The Regional Insights Into The Gesture Recognition and Touchless Sensing Market?
North America was the largest region in the gesture recognition and touchless sensing market share in 2024. The regions covered in the gesture recognition and touchless sensing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
