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Future Growth of Automotive Gesture Recognition Market Global Analysis by Key Players - Harman International, Delphi Automotive PLC, Sony Depthsensing Solutions, Melexis, Continental AG, and eyeSight Technologies Ltd
The ‘automotive gesture recognition Market’ research report assembled by Market Study Report, LLC, provides a succinct analysis on the recent market trends. In addition, the report offers a thorough abstract on the statistics, market estimates and revenue forecasts, which further highlights its position in the industry, in tandem with the growth strategies adopted by leading industry players.Increasing vehicles demand with technologically advanced features including enhanced navigation and gesture-based infotainment systems are expanding the automotive gesture recognition market over the forecast timeframe. Incorporation of advanced sensors and electronics into the vehicles for improving the overall driving experience will further expand the business penetration till 2024.
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Few of the players in the automotive gesture recognition market place include Harman International, Delphi Automotive PLC, Sony Depthsensing Solutions, Melexis, Continental AG, and eyeSight Technologies Ltd. Other notable players include Texas Instruments, Intel, Visteon Corporation, and Synaptics Incorporated. Industry participant are continuously innovating their product portfolio and introducing innovative technologies for gaining edge over the competition. For instance, in 2017, Continental AG launched an advanced HMI system that enable superior haptip feedback, multi-finegr gestures, and handwriting capabilities, positively influencing their industry share till 2024.
Increasing adoption of electronic components in vehicles for complying to stringent government norms associated with vehicle safety and emission are supporting the industry expansion. Usage of gestures for controlling various operations within vehicles including changing music, answering phone calls, and control the navigation are further strengthening the industry growth.
Industry participants are continuously investing in R&D to improve the gestures and improve the overall efficiency of the system for enhancing the overall driving experience. For instance, Hyundai is working on an eye-tracking based gesture control system for its HCD-14 vehicle. Further, the system allows for easier control of multiple operations including smartphone connectivity, audio control, infotainment and HVAC operations, positively influencing the automotive gesture recognition market share.
Higher costs associated with the acquisition and maintenance of these systems may hamper the automotive gesture recognition market growth over the projected timeframe. Further, the requirement for high precision sensors and components for detecting gestures under diversified lighting conditions may limit its adoption till 2024. However, industry participants are introducing low cost solutions for budget vehicles for increasing the system demand, lowering the overall cost and meeting the economies of scale.
Automotive gesture recognition market share form touch-based systems accounted for the highest volume share at around 69% in 2017. This dominance is attributed to the increasing usage of such systems in multiple models across various price range. Proliferating usage of capacitive touch screens for controlling multiple car features including music control, phone connectivity, and HVAC controls further strengthens the business expansion.
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Hand or fingerprint authentication was valued at over USD 1,400 Million in 2017. This dominance is credited to the proliferating usage of these systems owing to easier operation and incorporation of IR sensors and cameras supporting the segment share. For instance, in 2015, BMW launched the 7-Series model line-up with improved hand and fingerprint sensing technologies for controlling multiple car operations, thereby contributing to the overall automotive gesture recognition market expansion.
Multimedia, navigation, and infotainment systems showcased a significant growth rate at around 44% over the study timeframe. Increasing trend towards providing customer comfort along with the requirement for advanced navigation facilities supports the industry expansion. Further, the proliferation of advanced connectivity applications including Android Auto and Apple CarPlay offering higher quality multimedia and navigation content within the vehicle, further accelerates the segment penetration till 2024.
PCVs accounted for more than 2,500 units in 2017 and is expected to continue its dominance over the projected timeframe. This can be credited to the increasing automotive sales across the globe. Improving living standards along with proliferating disposable income further supports the industry share over the projected timeframe. Increasing sales of luxury and premium vehicles with advanced electronic systems along with the availability of multiple models at varied price range further supports the business expansion over the forecast timeframe.
Europe accounted for over 43% revenue share in 2017 owing to the presence of major automobile companies focusing on introducing advanced infotainment systems in their products for improving the driving experience. Further, supporting government regulations for introducing multiple safety standards for vehicles as standard is further supporting the industry expansion till 2024. For instance, the European Commission announced the mandatory fitment of technologies including e-call technology and automated emergency services in automobiles, thereby providing a positive outlook for the industry growth.
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