Global Gesture Recognition Market Expected to Reach USD 38 Billion by 2026: Facts & Factors

Gesture Recognition Market

Gesture Recognition Market

Global gesture recognition market is expected to grow at a CAGR of 23% and is anticipated to reach around USD 38 Billion by 2026.

NEW YORK, UNITED STATES, August 10, 2020 / — Findings from Facts and Factors report “Gesture Recognition Market By Component (Touch-based systems, and Touch-less systems), and By Application ( Aerospace & Defense, Gaming, Hospitality, Automotive, Medical centers, and Education): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global gesture recognition market in 2019 was approximately USD 9 Billion. The market is expected to grow at a CAGR of 23% and is anticipated to reach around USD 38 Billion by 2026.

The detection of gestures is a technology that uses a computer to analyze human movement. It includes various ways to identify faces such as IRIS, lip movement, voice, and eye-tracking. It is a substitute user interface that provides real-time data. The technological improvements in remote less works within the enterprises is expected to offer lucrative opportunities for key market player operating in this market.

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Increasing usage of smartphones and consumer preference towards the Internet of Things along with easy usage of the product for consumers is boosting the growth of the gesture recognition market. Moreover, progressive developments in technologies are aiding the market to gain popularity over the forecast period. Further, growing safety awareness of drivers is boosting the demand for gesture recognition systems in the automotive sector. However, the lack of awareness among end-users and the complex framework is limiting the market growth across the nations. In addition, spiraling customer demand for app-based technology solution will fuel the market growth in future years.

Growing digitalization trend across the nation is indirectly contributing to the market. The rise in adoption of gesture recognition technology in the healthcare industry has helped the global market to grow. This technology-assisted users to interact with computer machines and other devices easily and it also helped people with physical disabilities to use devices.

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The global gesture recognition market can be segmented based on the component and application. Based on component, the global gesture recognition market has been classified into touch-based systems and touch-less systems. Based on application, the global gesture recognition market has been further bifurcated into gaming, hospitality, educational institutions, aerospace & defense, automotive, and medical centers among others. Touch-less technology is anticipated to be the highest growing segment over the analysis period. The automotive and educational segment is expected to register to major market share over the coming years as technologies such as 2D and 3D gestures can offer customer experience with a more realistic and interactive view.

On the basis of geography, the global industrial lubricants market has been segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Over the projected years, Asia Pacific will be the most dominating region owing to huge population in China and India. Moreover, increasing digitization in this region will lead to a global gesture recognition market. Further, the majorly considered regions are analyzed into major countries in this research report are the U.S., Mexico, Germany, UK, Canada, France, China, India, South Korea, Japan, Brazil, UAE, Egypt, and South Africa among others.

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Some of the prominent players operating in the global gesture recognition market areEyeSight Technologies Ltd; Microsoft Corporation, Apple Inc.; InfinGestureTek, Inc., Movea SA, Qualcomm Technologies, Inc., eon Technologies AG, Softkinetic, and Omron Corporation among others.

This report segments the Gesture Recognition market as follows:

Global Gesture Recognition Market: By Component Segmentation Analysis

Touch based systems
Touch-less systems

Global Gesture Recognition Market: By Application Segmentation Analysis

Aerospace & Defense
Medical centres

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Source: EIN Presswire