Touchless Sensing Market 2018 Global Key Leaders: Eyesight Technologies Ltd, Microsoft Corporation, Qualcomm Inc, Microchip Technology Inc

Market Scenario:
Touchless sensing is a software-dependent and advanced form of human-machine interaction, where the user can control and monitor devices through contactless modes. This technology is incorporated into mobile phones, tablets, PDAs and other computer-enabled devices. Touchless sensing technology has its application in various industries like healthcare, food and agribusiness, IT and others due to the benefits it offers such as low cost and zero maintenance, reliability, ease of development and integration. In food and agribusiness industry, touchless sensing helps in reducing cross-contamination in the food processing plant. The product overhead can be reduced by eradicating direct human handling during the packaging process. Additionally, as the name suggests, the implementation of touchless sensing technology remedies the hygiene concerns to a considerable extent.

Most commonly used Touchless Sensing Market technologies are gesture recognition and speech/voice recognition. In gesture recognition, finger and hand gesture movements allow user interaction with machines, with no physical contact with digital devices. The market for touchless sensing is expected to grow in order to enhance user experience and ease of use, increasing digitalization across industries. Also, the increasing hygiene concerns are contributing substantially to the growth of touchless sensing market. However, the absence of haptic sensation and high power consumption may hamper the growth of touchless sensing market.

Soli is a new sensing technology by Google that uses miniature radar to detect touchless gesture interactions. It does not use conventional visible or even infra-red 2D images, instead, it uses radar for motion tracking of the human hand. These sensors track sub-millimeter motion at high speeds with high accuracy. This allows people to control devices with a simple, universal set of gestures. This technology can be a new opportunity for touchless sensing market.

The global touchless sensing market is expected to reach approximately USD 18 Billion by 2023 growing at a ~17.3% CAGR over the forecast period 2018–2023.

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Major Key Players:
Some of the key players of Touchless Sensing market include Eyesight Technologies Ltd. (Israel), Microsoft Corporation (U.S.), Qualcomm Inc. (U.S.), Microchip Technology Inc. (U.S.), Intel (U.S.), Elliptic Labs Inc., (Norway), CogniVue Corporation, (Canada), InvenSense (U.S.), Crossmatch (U.S.), NXP Semiconductors (Netherland) among others.

The prominent players keep innovating and investing in research and development to present cost-effective offerings. Merger and Acquisitions among the various players are changing the market structure. For instance, Jabil Inc. and eyeSight Technologies announced a new partnership to develop next-generation in-car sensing technology that delivers the most advanced levels of driver monitoring and gesture control.

Segmentation:
• By Technology, the market is segmented into RFID Technology, Camera-Based Technology, Sensors, Voice Assistance and Others. Sensors are sub-segmented into Proximity & infrared sensors, image sensors among others.
• By Product, the market is segmented into Touchless Sanitary Equipment, Touchless Biometric, and Others. Touchless Sanitary Equipment is sub-segmented into Touchless Faucets, Touchless Soap Dispensers, Touchless Towel Dispensers, Touchless Trashcans, and Hand Dryers.
• Touchless Biometric is sub-segmented into Touchless Fingerprint Recognition, Iris Recognition, Face Recognition System, and Voice Recognition.
• By Industry, the market is further segmented into Consumer Electronics, Government, BFSI, Healthcare, Automotive, and others.

Regional Analysis:
The geographical analysis of Touchless Sensing market is studied for North America, Europe Asia Pacific and the rest of the world. Europe is expected to hold the largest share for touchless sensing market owing to favorable initiatives taken by the government towards hygiene standards. People of countries such as UK, Spain, France believes in higher hygiene standards which is driving the touchless sensing market in Europe. North America is the second largest market.

The organizations in North America are shifting towards new and upgraded technologies with the increasing adoption of digital business strategies. The presence of major solution provider of Touchless Sensing in North America is also a driving factor for Touchless Sensing market to grow. Asia Pacific is expected to grow with the highest CAGR during the forecast period. Countries like China, Japan and, India have a huge growth potential and provide a favorable environment for product manufacturers.

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Target Audience:
• Component and equipment suppliers
• Original equipment manufacturers (OEMs)
• Original design manufacturers (ODMs)
• Installers and maintenance service providers
• Research organizations
• Component integrators
• Technology providers

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