Automotive Gesture Recognition System Market : Touch-Based Systems and Touchless Systems Industry Forecast, 2021-2030

According to a recent report published by Allied Market Research, titled, "automotive gesture recognition system market by component, authentication type, and application: global opportunity analysis and industry forecast, 2021-2030"

The global automotive gesture recognition system market was valued at $0.99 billion in 2020, and is projected to reach $4.35 billion by 2030, registering a CAGR of 18.4% from 2021 to 2030.

Prime determinants of growth

Adoption of smart technology features in vehicles and intervention of innovative technologies for advanced user interface drive the growth of the global automotive gesture recognition systems market. However, decrease in production and sale of automotive due to troubleshooting, updating and maintenance of technology hinders the market growth. On the other hand, growth in developing nations and entering into agreements & contracts with automotive OEM present new opportunities in the coming years.

Download Sample Report at https://www.alliedmarketresearch.com/request-sample/2439

Covid-19 Scenario :

The outbreak of the Covid-19 pandemic led to global lockdown which witnessed high financial losses and significant uncertainties in business operations of the overall automotive industry.
The majority of governments restricted international commute to control spread of the virus, due to which, both the demand and supply of the automotive industry were impacted negatively.
Market participants of automotive gesture recognition systems are following certain approaches to managing operations by slashed budgets, extended equipment lifecycles, decreased staff sizes, and reduced salaries in short term to overcome financial downturn.

Request for Customization at https://www.alliedmarketresearch.com/request-for-customization/2439

The touchless systems segment to maintain its leadership status throughout the forecast period

Based on component, the touchless systems segment held the highest market share in 2020, accounting for more than half of the global automotive gesture recognition systems market, and is estimated to maintain its leadership status throughout the forecast period. This is due to rise in demand from automotive manufacturers to develop high-end safety for vehicle drivers. Moreover, this segment is projected to manifest the highest CAGR of 19.9% from 2021 to 2030.

The hand/fingerprint/leg recognition segment to maintain its lead position during the forecast period

Based on authentication type, the hand/fingerprint/leg recognition segment accounted for the largest share in 2020, contributing to more than one-third of the global automotive gesture recognition systems market, and is projected to maintain its lead position during the forecast period. This is due to high range of technology availability based on hand/finger print/leg recognition and awareness within consumers of the system operations. However, the facial recognition segment is expected to portray the largest CAGR of 21.5% from 2021 to 2030, owing to use for avoidance of vehicle access by an unauthorized person and minimize the risk of the vehicle stolen.

Interested to Procure the Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/2439

Europe, followed by North America, to maintain its dominance by 2030

Based on region, Europe, followed by North America, held the highest market share in terms of revenue 2020, accounting for more than one-third of the global automotive gesture recognition systems market. This is due to rise in adoption of autonomous and electric vehicles have led toward the growth of the automotive gesture recognition systems market in Europe. Moreover, this region is expected to witness the fastest CAGR of 19.8% during the forecast period.

Leading Market Players:-

Cipia Vision Ltd.
Cognitec Systems GmbH
Continental AG
NXP Semiconductors
Qualcomm Technologies, Inc.
Samsung Electronics Co., Ltd
Sony Corporation
Synaptics Incorporated
Usens Inc
Visteon Corporation

Schedule a FREE Consultation Call with Our Analysts to Find Solution for Your Business at https://www.alliedmarketresearch.com/connect-to-analyst/2439

Contact -

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.