Press release
What's driving the Gesture Recognition Market Growth? Prominent Players: Apple, Intel Corporation, Microchip Technology Inc., Microsoft, Sony, Elliptic Labs, Eyesight Technologies, FIBARO, GestureTek, Jabil, Leap Motion, Pyreos Ltd
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/gesture-recognition-market-100235
Top Players
• Elliptic Laboratories A/S
• Eyesight Technologies Ltd
• Fibaro Group SA
• GestureTek Inc.
• Intel Corporation
• Jabil Inc.
• Leap Motion Incorporation
• Microchip Technology Incorporated
• Apple Inc.
• Microsoft Corporation
• Pyreos Limited
• Sony Corporation
• Thalmic Labs Inc.
Recent Technological Advancements to Have An Enormous Impact On The Global Market
Rising use in industrial automation, self-driven automobiles, and smart home automation is likely to drive the global gesture recognition market. Identification of physical movements, motion or gestures of humans is recognized by gesture recognition. Gestures such as waving hands, feet, head, blinking eyes, and others in a particular way, that will launch/unlock and assist in operating specific application without even touching them.
The basic aim of gesture recognition is a combination of computer analytics and language technology. Gesture recognition focuses on identifying human gestures via scientific and mathematical algorithms. Gestures help to manage mixed reality environments, complex robotics systems, smart home appliances, and medical equipment in operating rooms.
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Key Market Driver – Growing market of accelerometer and gyroscope sensors, innovations in the field of bioelectronics and nanotechnology, rising of the gaming industry, growing market of 3D sensors
Key Market Restraint - Difficulty in maintaining stable measurement conditions for sensors
Investments In R&D Of AI Technology To Boost Growth For The Gesture Recognition Market
Integration of Artificial Intelligence in various applications is expected to be an important factor to boost the market for gesture recognition. Investment in Al technology is anticipated to exceed US$ 125 Bn by 2024, according to a report by International Data Corporation. A program named Gesturepod, which is equipped with AI features for augmented reality assistive devices was introduced by Microsoft Corporation. The program’s sole purpose is to manage a smartphone without even touching or removing it from the pocket or others. Gesturepod is achievable of more than 92%of accuracy rate in gesture recognition. Henceforth it reduces the overall time consumption for the user, completing the task on the smartphone more quickly.
Presence Of Prime Companies In North America To Contribute Towards Gesture Recognition Market Growth in the Region
North America is likely to be leading the gesture recognition market due to the existence of important key players such as Intel Corporation, Microsoft Corporation, Microchip Corporation, Apple Incorporation. These companies are increasingly innovating novel technologies for gesture recognition, therefore, giving enabling global market growth. For instance, Apple Inc. in 2018 introduced 3D camera in a smartphone with Human-machine Interaction for depth mapping used in advanced gesture control. The US to also receive investments for the development of 3D gesture and touchless technology.
Asia Pacific is predicted to be the fastest growing in regards to gesture recognition market during the forecast period. Countries in Asia, such as China, India and Japan to focus on the OEMs, and implementation of the gesture recognition technology in their products such as smartphones, cameras, and laptops, which results in the growth of gesture recognition market.
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Segmentation
1. By Technology
• Touch-based
o Multi-Touch System
o Motion Gesture
• Touchless
o Capacitive/Electric Field
o Infrared Array
o Ultrasonic Technology
o 2D Camera-Based Technology
o 3D Vision Technologies
2. By Industry Vertical
• Agriculture
• Healthcare
• Manufacturing
• Food and Beverages
• Energy and Utilities
• Research
• Others
3. By Geography
• North America (the USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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