What is Gesture Recognition and Touchless Sensing Market?
Gesture recognition and/or Touchless sensing technology uses gesture sensors to recognize a person’s gestures, facial features or voice to complete a task. The gesture technology uses voice assistants, computer vision algorithms to interpret the sign language for the action to be completed. The global touchless sensing market is highly fragmented and dominated by small and medium-sized gesture recognition applications manufacturers. The supplier landscape covers commercial gesture manufacturers who offer a wide range of solutions. The global touchless sensing market is segmented into technology, product, end-use, and region. By end use, it is classified into defense, consumer electronics, finance and banking, automotive, healthcare, and others (retail & hospitality). By product, the market is segmented into touchless sanitary equipment, touchless biometric, and others (contactless cards and RFID tags) and others. By technology, the market is segmented into is sensors, RFID technology, voice assistance, camera-based technology, and camera-based technology.
Which industry is expected to dominate the gesture recognition market?
1. Automotive: The leading Automotive OEMs are focusing on the touchless sensor based gesture recognition solution for vehicle infotainment systems in order to alleviate the distraction instances of adjusting Mp3 player and CD settings, changing the radio station
2. Finance and Banking: Changing customer behavior to maximize contactless interactions and minimize physical proximity is anticipated to drive rapid adoption of contactless payments and other Touchless User Interface
3. Healthcare: Touchless sensing technology is expected to play important role in strengthening healthcare system: leap motion devices for touchless interaction in surgery, gesture-based interaction with medical images, surgery using gesture-based technology, and others applications
4. Consumer Electronics: The touchless sensing gaining popularity due to various innovative features in connected entertainment, smart lighting, touchless sanitary equipment, identity & access management, virtual assistants, and others
What is the projected market size & growth rate of Gesture Recognition and Touchless Sensing Market?
The global touchless sensing market is analyzed to grow a steady rate from $6.8 billion in 2020 to $16.4 billion in 2025 at a CAGR of 19.10%. Rising prominence of touchless sensing and its allied products is due to increased demand for safety measures and adoption of digitization across the various end-use industries. Touchless sensing systems play an important role in healthcare and fitness, ability to detect and track vibrations and perform contactless breathing and heart rate monitoring. Moreover, the companies are focusing on integration of touchless sensing technologies with scene processing, edge hardware sensor management, and artificial intelligence to provide efficient operations. Further, anticipated to contribute to the growth of the global touchless sensing car market.
North America holds the largest share in the global touchless sensing market owing to the presence of the major manufacturers in the region. The growth for the touchless sensing market in the North America can be attributed to the technological advances and the integration of intelligent features in touchless sensing to encourage security. Moreover, the growing demand for safety measures will boost the demand of the touchless sensing products during the forecast period.
The major players in the global touchless sensing market are Oblong Industries, Eyesight Technologies Ltd., Apple Inc. XYZ Interactive, Cognitec Systems GmbH, IrisGuard, OmniVision Technologies, Inc., Infineon Technologies AG, Sony, Google Inc., Microsoft Corporation, and among others.