Press release
Automotive Gesture Recognition Market Forecast 2017-2024 | Top Players - Qualcomm Technologies Inc., Continental AG, Visteon Corporation, Harman International, Cognitec System GmbH
Automotive Gesture Recognition
Qualcomm Technologies Inc., Continental AG, Visteon Corporation, Harman International, and Cognitec System GmbH are among major companies in automotive gesture recognition market. Other prominent vendors include Gestigon Gmbh, Synaptics Incorporated, Softkinetic International SA, Eyesight Technologies, NXP Semiconductors, and Neonode, Melexis and Jabil. The industry is dominated by few established players, competing to acquire maximum share. High growth potential of automotive gesture recognition market invites new participants, thereby intensifying the competition. Large players are focusing on acquiring or investing in small companies to gain access to latest technologies and increase their foothold.
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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.
Automotive Gesture Recognition Market is estimated to surpass USD 13 billion by 2024; according to a new research report. Automotive gesture recognition market will exhibit over 42% CAGR from 2017 to 2024. 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.
With technological advancements in sensor technology, automotive gesture recognition market is expected to observe exponential growth rate over the forecast period. In 2016, BMW introduced gesture recognition in its 7- series cars. This model is among the best-selling cars across the globe. Surging demand for electric vehicles will further provide stable growth prospects to the automakers and technology providers.
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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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Related Report:
Global and Chinese Gesture Recognition System Industry, 2018 Market Research Report
The 'Global and Chinese Gesture Recognition System Industry, 2013-2023 Market Research Report' is a professional and in-depth study on the current state of the global Gesture Recognition System industry with a focus on the Chinese market. The report provides key statistics on the market status of the Gesture Recognition System manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
https://www.marketstudyreport.com/reports/global-and-chinese-gesture-recognition-system-industry-2018-market-research-report/?utm_source=RR-PSR
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