Global Automotive Gesture Recognition Market will grow at 43% CAGR to 2024 by Key Companies - Texas Instruments, Qualcomm, NXP Semiconductors, Jabil, Intel Corporation, Harman International, Apple, Visteon Corporation

Automotive Gesture Recognition Market size is estimated to surpass USD 13 billion by 2024; according to a new research report by Global Market Insights, Inc. High consumer preference towards application-based vehicle technologies coupled with rising awareness regarding driver safety will stimulate the revenue generation over the forecast timeframe. Increasing electronic components and sensors in vehicles will further support the adoption of these systems. In addition, drivers will access multiple vehicle features without losing control on the steering wheels.

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Multimedia/navigation/infotainment application in the automotive gesture recognition market is anticipated to acquire the maximum share of more than 60% by the end of 2024. Automobile OEMs are focusing on improving customer experience with infotainment and navigation systems, primarily driving the demand. Driver distraction can be reduced with easy operability of multimedia in the car with gesture control, supporting the growth of the segment. Growth of door/window opening segment is attributed to vehicle manufacturers focusing on delivering improved functional features in the vehicles. Moreover, increasing driver control over the vehicle to ensure safety will stimulate the demand for the segment.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Apple
2. Cognitec Systems
3. Continental AG
4. eyeSight Technologies Ltd.
5. Delphi Automotive PLC
6. Gestigon Gmbh
7. Harman International
8. Intel
9. Jabil
10. Melexis
11. Navtek Solutions
12. Neonode
13. NXP Semiconductors
14. Qualcomm Inc.
15. Renesas
16. Sony Dephthsensing solutions (SoftKinetic)
17. Synaptics Incorporated
18. Texas Instruments
19. Visteon Corporation

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Passenger cars will dominate the automotive gesture recognition market, generating a demand for over 32 million units over the forecast timeframe. Rising demand from infotainment, navigation and multimedia features in the vehicles will stimulate the industry penetration. Surging demand for medium and high-end passenger vehicle across the globe along with shifting customer preference towards highly advanced variants in given vehicle range will further boost the automotive gesture recognition market from passenger cars. Heavy commercial vehicle manufacturers are less likely to adopt these systems owing to less proximity of vehicles in public utilities.

Hand/fingerprint authentication segment of the automotive gesture recognition industry is predicted to be the fastest growing with over 43% CAGR between 2017 and 2024. This can be attributed to technological improvements coupled with rising usage of TOF sensors. Safety regulations is further boosting the product demand. Vision/iris will exhibit over 41% CAGR due to increasing customers and manufacturers interest in deployment of such systems. With technical improvements automotive gesture recognition business is estimated to witness sturdy growth over the projected time span.

Touch based systems accounted for maximum automotive gesture recognition market share, crossing USD 550 million in 2016 and will continue its dominance over the next eight years. This can be credited to high preference owing to their strong prevalence over the past years. Automotive gesture recognition touchless systems will exhibit substantial growth, exhibiting around 44% CAGR till 2024 owing to provision of advanced features and enhanced user experience delivered by these systems.

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Europe is anticipated to dominate the automotive gesture recognition market, crossing USD 6 billion over the next eight years. High penetration of the premium cars such as BMW 5 and 7 series across the region is expected to primarily support the regional dominance. Established automotive industry with substantial vehicle production is likely to further propel the revenue generation. North America automotive gesture recognition market will exhibit more than 40% CAGR from 2017 to 2024 owing to rising demand for these systems across the region. This high demand is credited to rising R&D investments by OEMs and shifting consumer preference towards advanced vehicle features.

Major automotive gesture recognition market players are Continental AG, Harman International, Visteon Corporation, Cognitec System GmbH, and Qualcomm Technologies Inc. Other notable players are Softkinetic International SA, NXP Semiconductors, Synaptics Incorporated, Gestigon Gmbh, and Eyesight Technologies.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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