PUBLISHER: The Business Research Company | PRODUCT CODE: 1251794
PUBLISHER: The Business Research Company | PRODUCT CODE: 1251794
“Gesture Recognition Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on gesture recognition market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for gesture recognition? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The gesture recognition market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the gesture recognition market are: Apple, Cognitec Systems, Intel Corporation, Microchip Technology, Qualcomm, Synaptics, Google, GestureTek, IrisGuard UK Ltd., PointGrab Ltd., Cipia, HID Global, Ultraleap, iProov Limited, and Oblong Industries.
The global gesture recognition market grew from $16.44 billion in 2022 to $20.14 billion in 2023 at a compound annual growth rate (CAGR) of 22.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The gesture recognition market is expected to grow to $46.27 billion in 2027 at a CAGR of 23.1%.
The gesture recognition market includes revenues earned by entities by workout tracking to in-store monitoring, gesture recognition services, voice recognition, image recognition. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The gesture recognition refer to a type of perceptual computing user interface that enables computers to recognize and understand human gestures as orders. Gesture recognition entails tracking a human position, orientation, or movement and then interpreting it to distinguish semantically significant gestures. It is utilized for Human-Computer Connection (HCI), a type of human-machine interaction that uses just physical actions rather than voice.
North America was the largest region in the gesture recognition market in 2022. The regions covered in the gesture recognition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of gesture recognition are online gestures and offline gestures. Online gestures are real-time gestures that use technology where the hand surface is extracted from the background by the subtraction method. The various authentication types include finger-print recognition, face recognition, vision and iris recognition, and hand and leg recognition based on touch-based and touchless technology. It is used across several industries such as automotive, consumer electronics, healthcare, finance and banking, advertisement and communication, defense, government, and other industries.
The growing digitalization is propelling the growth of the gesture recognition market. Many companies and organizations are adopting biometrics solutions that help in the digitalization of large processes. Biometrics s a scientific method of identifying a person's gestures by measuring their physical and/or behavioral features that are used for different applications like mobiles, laptops, and screenings. The rise of biometrics is increasing due to businesses realizing the benefits of biometric technologies in terms of security and ease of their operations. According to Imageware, a US-based biometric identification and authentication solutions company, global biometric technology is expected to reach $55.42 billion by 2027. Therefore, the growing digitalization is driving the growth of the gesture recognition market.
Technological advancement is a key trend gaining popularity in the gesture recognition market. Major companies operating in the gesture recognition market are focused on developing new technological solutions to meet consumer demand and strengthen their position. In December 2020, LamasaTech, an England-based interactive touch screen technology has launched VisiPoint, a gesture recognition platform designed for visitor and employee sign-in with temperature screening. An organization can utilize the compliance creator to build an agreement, such as an NDA or site terms and conditions, or a questionnaire, such as a CDC/health screening questionnaire, that will be displayed to users on-screen during the sign-in process. Users can deliver a yes or no answer just by raising a thumbs up or thumbs down in front of the camera, keeping the transaction fully contactless. Every time a user enters, compliance checks might be displayed. Organizations will be able to remotely monitor entry logs, analyze temperature data, and modify device settings due to VisiPoint Cloud.
In January 2021, Qualcomm, a US-based company acquired Clay AIR for an undisclosed amount. The acquisition is expected to strengthen Qualcomm's XR technology stack with the inclusion of Clay AIR's highly accurate and power-efficient hardware-agnostic technology and industry-leading team of computer vision, interaction design, and machine learning professionals. Clay AIR is a US-based AI-powered hand tracking and gesture recognition technology company.
The countries covered in the gesture recognition market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The gesture recognition market research report is one of a series of new reports from The Business Research Company that provides gesture recognition market statistics, including gesture recognition industry global market size, regional shares, competitors with a gesture recognition market share, detailed gesture recognition market segments, market trends and opportunities, and any further data you may need to thrive in the gesture recognition industry. This gesture recognition market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.