Gesture Recognition Market Research 2024 - Industry Analysis, Size, Share, Future Trends, Growth Opportunities And Forecast 2033

The gesture recognition market size has grown exponentially in recent years. It will grow from $19.56 billion in 2023 to $23.86 billion in 2024 at a compound annual growth rate (CAGR) of 21.9%. The growth in the historic period can be attributed to touchless interfaces for hygiene, gaming industry demand, healthcare applications, accessibility features, industrial and enterprise applications..

The gesture recognition market size is expected to see exponential growth in the next few years. It will grow to $55.33 billion in 2028 at a compound annual growth rate (CAGR) of 23.4%. The growth in the forecast period can be attributed to expanded use in retail environments, public spaces and kiosks, expanded automotive use cases, growth in entertainment industry, gesture-based healthcare monitoring.. Major trends in the forecast period include integration in consumer electronics, gaming and virtual reality (vr), industrial and manufacturing applications, education and training solutions, security and authentication, gesture recognition software development kits ..

Market Overview -
The gesture recognition refer to a type of perceptual computing user interface that enables computers to recognize and understand human gestures as orders. Gesture recognition entails tracking a human position, orientation, or movement and then interpreting it to distinguish semantically significant gestures. It is utilized for Human-Computer Connection (HCI), a type of human-machine interaction that uses just physical actions rather than voice.

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Rapid Digitalization Fuels Growth In The Gesture Recognition Market
The growing digitalization is propelling the growth of the gesture recognition market. Many companies and organizations are adopting biometrics solutions that help in the digitalization of large processes. Biometrics s a scientific method of identifying a person's gestures by measuring their physical and/or behavioral features that are used for different applications like mobiles, laptops, and screenings. The rise of biometrics is increasing due to businesses realizing the benefits of biometric technologies in terms of security and ease of their operations. According to Imageware, a US-based biometric identification and authentication solutions company, global biometric technology is expected to reach $55.42 billion by 2027. Therefore, the growing digitalization is driving the gesture recognition market growth.

Competitive Landscape -
Major companies operating in the gesture recognition market report are Apple Inc.,SALTO Systems S. L., Intel Corporation,Microchip Technology Inc.,Qualcomm Technologies Inc., Synaptics Inc., Google LLC, GestureTek, IrisGuard UK Ltd., PointGrab Ltd.,Cipla Limited, HID Global, Ultraleap Ltd., iProov Limited,Oblong Inc.,Sony Corporation,EyeSight Technologies,Omron Corporation,Elliptic Labs,GestureTek, Crunchfish AB,XYZ Interactive Technologies Inc.,GestureTek Health,Ultraleap,Pebbles Interfaces, PointGrab Ltd.,Vayyar Imaging Ltd.,Cognitec Systems GmbH,Intel RealSense Technology,Synaptics Incorporated,Gestoos,Gestigon GmbH,OMRON Electronics,pmdtechnologies ag

Technological Advancements Enhance Gesture Recognition Market Presence
Technological advancement is a key trend gaining popularity in the gesture recognition market. Major companies operating in the gesture recognition market are focused on developing new technological solutions to meet consumer demand and strengthen their position. In July 2022, STMicroelectronics, a Switzerland-based semiconductor company has launched a touchless gesture-based control system for straightforward, budget-conscious consumer and commercial applications. The system is called STGesture and is a companion software for the company's VL53L5CX Time-of-Flight (ToF) ranging sensor. The software enables basic gesture recognition with the VL53L5CX proximity ToF sensor and can detect tap and swipe movements.

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Key Segments -
The gesture recognition market covered in this report is segmented -
1) By Type: Online Gesture, Offline Gesture
2) By Technology: Touch-Based, Touchless
3) By Authentication Type: Finger Print Recognition, Face Recognition, Vision And IRIS Recognition, Hand And Leg Recognition
4) By Industry: Automotive, Consumer Electronics, Sports, Healthcare, Advertisement And Communication, Aerospace And Defense, Government, Other Industries

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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