The global gesture recognition market is anticipated to reach USD 33.05 billion by 2025, growing at a CAGR of 21.3%
Increasing digitization across various industries is driving the gesture recognition market. Ease of adoption due to low technical complexity for end users has made consumer electronics industry to gain highest market share. Many other industries also started using this technology.
Rising use of consumer electronics, Internet of Things, increasing need for comfort & convenience in product usage is driving the gesture recognition market. The technological advancement and ease of use have gained gesture recognition technology global acceptance. The increase in awareness about regulations and driver safety has increased the demand for gesture recognition systems in the automobile industry. Similarly, increasing customer fondness for application based technologies helping this market to grow.
Gestures are the visible body actions through which human express information to others without saying it. In our daily life, we can see several hand gestures which are frequently used for communication purposes. Hand gesture recognition is one of the advanced research fields which provides a way for human-machine interaction. Hand gesture recognition provides an intelligent method for human-computer interaction (HCI).
The market is very volatile and is experiencing a fierce competition, therefore, marked by an extensive presence of mergers and acquisitions. For instance, Intel Corp. acquired Omek Interactive Ltd.
The key players in the market include Apple, Intel, Microsoft, and Google. Along with global giants, the homegrown players are also showing tremendous growth and attracting big investors. This scenario has taken the competition to a whole different level.