Automotive Gesture Recognition System Market is growing at a CAGR of 18.4% and is projected to reach $4,350.7 million by 2030

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. The global automotive gesture recognition system market was valued at $990.4 million in 2020, and is projected to reach $4,350.7 million by 2030, registering a CAGR of 18.4%. Europe was the highest revenue contributor, accounting for $361.49 million in 2020, and is estimated to reach $1,731.57 million by 2030, with a CAGR of 19.8%.

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Growth in concerns toward driver safety and comfort propel growth for high-end technology enabled systems such as automotive gesture recognition systems as it minimizes full engagement of drivers to operate other electronic devices. Moreover, it helps to maintain focus of drivers toward the driving operations and minimizing risk of accidental threat, which occurs due to insignificant focus of drivers on driving while operating in-vehicle devices.

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.

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In recent years, adoption of automotive gesture recognition systems for multimedia solution, infotainment solution, and navigation solution is high amongst other applications and is expected to maintain its dominance, owing to changing consumer perspective toward in vehicle systems. Moreover, the touchless systems segment is anticipated to create lucrative growth opportunities for the automotive gesture recognition system market, owing to integration of high-end technologies in vehicles to attain operational efficiency.

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.

The key players profiled in this report include

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

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Europe is dominant in the global automotive gesture recognition system market and the U.S. is expected to be a leading consumer in the market during the forecast period. In the upcoming years, Germany, the U.S., and India are expected to witness emerging growth in the global market, owing to changing automotive outlook and growth in adoption of high-end technology such as automotive gesture recognition at the time of automotive production from these countries. The global automotive gesture recognition system market is a fairly consolidated market with limited number of players holding majority of the market share in the global market. Majority of the market participants are strategically involved in partnership, product launch, expansion, and product development activities.

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.

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For the automotive gesture recognition system market, 2020 was witnessed as a negative performing year, owing to negative demand and supply outlook from the COVID-19 crisis restrictions and supply chain disruptions. Market participants of automotive gesture recognition systems are following certain approaches to manage operations by slashed budgets, extended equipment lifecycles, decreased staff sizes, and reduced salaries in short term to overcome financial downturn. In February 2021, the second wave of COVID-19 hit majority of countries across the globe. This second wave had a severe impact on the overall economic activities as this strain spreads rapidly than the first wave of COVID-19, thereby creating a health crisis. This second wave limits demand from consumers due to lower consumer confidence. The global impact of COVID-19 has significantly affected the automotive gesture recognition system market in 2020.

Regional Analysis:

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.

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