Gesture Recognition Market worth US$ 9.45 Billion in 2020 with a CAGR of 28.5%.

Gesture Recognition Market worth US$ 9.45 Billion in 2020 with a CAGR of 28.5%.

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Gesture Recognition is an advanced technology which interprets human gesture with the help of a computing device. It includes various methods such as voice recognition, facial recognition, eye tracking, IRIS, leg movement, and lip movement. It is a user interface that offers real-time data to a computer system. The technological advancement in the gesture recognition market along with the need to deliver remote fewer gesture presentations in the enterprise environment is projected to provide lucrative opportunities for the key players in the gesture recognition market. The global gesture recognition market accounted for US$ 9.45 billion in 2020 and is estimated to be US$ 110.56 billion by 2030 and is anticipated to register a CAGR of 28.4%.

The Report " Global Gesture Recognition Market, By Technology (Touch-based Gesture Recognition and Touchless Gesture Recognition), By Industry (Aerospace and Defense, Automotive, Consumer Electronics, Gaming, Healthcare, and Other Industries), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030.


Key Highlights:

·         In February 2018, Elliptic Labs launched its gesture technology called INNER REFLECTION for smart speakers at Mobile World Congress (MWC).

·         In June 2018, Eyesight Technologies Ltd. collaborated with Soling Industrial Co., to launch next-generation driving motor systems in the Chinese automotive market.

Key Market Insights from the report:          

The Gesture Recognition Market accounted for US$ 9.45 Billion in 2020 and is estimated to be US$ 110.56 Billion by 2030 and is anticipated to register a CAGR of 28.5%. The market report has been segmented based on technology, industry, and region.

·         By technology, the touchless gesture recognition technology segment is projected to register higher CAGR over the forecast period, owing to the growing implementation of touchless technology in automotive and healthcare applications.

·         By industry, the global gesture recognition market is categorized into aerospace and defence, automotive, consumer electronics, gaming, healthcare, and other industries

·         By region, Asia Pacific market is expected to dominate in the global market in terms of revenue over the forecasts period, due to increasing disposable income across various countries and rapidly growing industrial digitization in the region.

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The prominent player operating in the global gesture recognition market includes Fibaro Group SA, Elliptic Laboratories A/S, Eyesight Technologies Ltd., GestureTek Inc., Intel Corporation, Jabil Inc., Leap Motion Incorporation, Microchip Technology Incorporated, Microsoft Corporation, and Pyreos Limited.

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