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      Gesture Recognition and Touchless Sensing Market worth $62.2 billion by 2029 - Exclusive Report by MarketsandMarkets™


      News provided by

      MarketsandMarkets

      08 Aug, 2024, 14:01 GMT

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      CHICAGO, Aug. 8, 2024 /PRNewswire/ -- 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 according to a new report by MarketsandMarkets™. The increasing adoption of gesture recognition and touchless sensing in the consumer electronics and automotive industry, along with increasing government initiatives, is driving market growth. Furthermore, the rising demand for touchless biometric equipment and the growing usage of gesture recognition in the gaming industry are expected to create lucrative growth opportunities for the market during the forecast period. 

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      Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=369

      Browse in-depth TOC on "Gesture Recognition and Touchless Sensing Market" 

      195 – Tables
      70 – Figures
      242 – Pages

      Gesture Recognition and Touchless Sensing Market Report Scope:

      Report Coverage

      Details

      Market Revenue in 2024

      $ 24.6 billion

      Estimated Value by 2029

      $ 62.2 billion

      Growth Rate

      Poised to grow at a CAGR of 20.4%

      Market Size Available for

      2020–2029

      Forecast Period

      2024–2029

      Forecast Units

      Value (USD Million/Billion)

      Report Coverage

      Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

      Segments Covered

      By Technology, Touchless Sensing Product, Gesture Recognition Type, Industry and Region

      Geographies Covered

      North America, Europe, Asia Pacific, and Rest of World

      Key Market Challenge

      High costs and complex framework of product technologies

      Key Market Opportunities

      Adoption of gesture recognition and touchless sensing technologies in the smart home market

      Key Market Drivers

      Growth in digitalization and rise in technological advancements across industry verticals

      The online segment is expected to account for the largest gesture recognition market share in 2024.

      Online gesture recognition scales or rotates a tangible object and controls a machine or computer in real-time. Gesture recognition is the process of capturing and analyzing hand or body movement using cameras, sensors, or any other input devices. Online recognition processes gestures while they are happening. Therefore, it gives instant system responses and provides a more intuitive and responsive user experience; on the other hand, offline gesture recognition has applications in scenarios like video analysis or post-processing. Many applications require real-time adjustments and adaptability to user gestures; online recognition is good at handling such dynamic interactions.

      The touchless biometric equipment segment is expected to account for the largest share of the touchless sensing market in 2024.

      In 2024, the touchless biometric equipment segment held the largest share of the touchless sensing market, and a similar trend is projected to be seen during the forecast period. The growing application of biometric equipment in the automobile, consumer electronics, commercial, and industrial sectors will continue to drive the growth of the touchless biometric equipment market. Fingerprint technology depends on skin condition; hence, its effectiveness in diverse populations and environments varies. Contactless biometric sensors solve these challenges and, in doing so, include those who fingerprint-based techniques exclude.

      Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=369

      The Asia Pacific market is expected to witness the highest CAGR in the gesture recognition and touchless sensing market during the forecast period.

      Asia Pacific will continue to have the largest share in the projection period by 2029. China, India, South Korea, and Japan are the main countries contributing towards growth in the Gesture Recognition and Touchless Sensing industry in the Asia Pacific region. The growing security concerns in the big countries of this region have been fueling the demand for accurate and reliable biometric systems. The e-passport program has picked up in several countries, while the citizen ID program initiative has generated a growing demand for touchless biometrics by the Indian government. The demand for touchless biometrics is rising owing to the accuracy of biometric systems. The huge demand for smartphones and tablets is a prominent driver for the gesture recognition market in the Asia Pacific region. This is evidenced by the number of products launched by OEMs in the last two years. The key players in touchless biometric solutions include Fujitsu Limited (Japan), Omron Corporation (Japan), NEC Corporation (Japan), and Gesture Research (India).

      Key players

      Key players in the gesture recognition and touchless sensing companies include Microsoft Corporation (US), Microchip Technology Inc. (US), Google LLC (US), Infineon Technologies (Germany), Apple Inc. (US), Sony Depthsensing Solutions (Belgium), Cognitec Systems GmbH (Germany), OMNIVISION (US), IrisGuard (UK), and GestureTek (Canada), and among others.

      Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=369

      Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

      Related Reports: 

      Head Mounted Display (HMD) Market Size, Share, Statistics and Industry Growth Analysis Report by Type, Technology (AR, VR), Application (Consumer, Commercial, Enterprise & Industry, Aerospace & Defense), Product Type (Head-mounted, eyewear), Component, Connectivity and Region - Global Forecast to 2029

      Iris Recognition Market Size, Share, Statistics, Industry Growth Analysis Report by Component (Hardware, and Software), Product (Smartphones, Scanners), Application (Identity Management and Access Control, Time Monitoring, E-payment), Vertical and Region - Global Forecast to 2027

      Americas Gesture Recognition & Touchless Sensing Market by Technology (2D, 3D, Ultrasonic, IR, Capacitive); Product (Biometric, Sanitary); Application (Healthcare, Electronics, Automotive); Country (U.S., Canada, Mexico, Brazil, Argentina) - (2013 - 2018)

      Europe Gesture Recognition & Touchless Sensing Market by Technology (2D, 3D, Ultrasonic, IR, Capacitive); Product (Biometric, Sanitary); Application (Healthcare, Electronics, Automotive); Region (Germany, U.K., France, Italy, MEA) - (2013 - 2018)

      Motion Sensor Market by Motion Technology (IR, Ultrasonic, Microwave, Dual Technology, & Tomographic), Application (Consumer Electronics, Automotive, Aerospace & Defense, Healthcare, & Industrial), and Geography - Global Forecast to 2025

      About MarketsandMarkets™

      MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

      MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

      Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

      The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

      Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

      To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

      Contact:

      Mr. Rohan Salgarkar
      MarketsandMarkets™ INC.
      630 Dundee Road
      Suite 430
      Northbrook, IL 60062
      USA: +1-888-600-6441
      Email: sales@marketsandmarkets.com
      Visit Our Web Site: https://www.marketsandmarkets.com/
      Research Insight: https://www.marketsandmarkets.com/ResearchInsight/touchless-sensing-gesturing-market.asp
      Content Source: https://www.marketsandmarkets.com/PressReleases/touchless-sensing-gesturing.asp

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