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Gesture Recognition Market on Track for Strong Growth, Estimated to Grow at 25.6% CAGR Through 2029
Gesture Recognition
What Is the Expected CAGR for the Gesture Recognition Market Through 2025?
The market size of gesture recognition has seen a significant increase in the past few years. It is anticipated to escalate from $23.37 billion in 2024 to $28.23 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 20.8%. The surge in the past can be traced back to factors such as the adoption of touchless interfaces for improving hygiene, the rise in demand from the gaming industry, healthcare use cases, accessibility features, and applications in both industrial and enterprise realms.
What's the Projected Size of the Global Gesture Recognition Market by 2029?
In the coming years, the size of the gesture recognition market is predicted to experience swift growth, reaching a volume of $70.28 billion in 2029 with a compound annual growth rate (CAGR) of 25.6%. This surge during the forecasted period is due to the increased usage in retail spaces, public areas, and kiosks, burgeoning automotive applications, and the booming entertainment sector, along with its implementation in healthcare monitoring. Key trends going forward will include its incorporation into consumer electronics, gaming, and virtual reality (VR), as well as applications in industrial and manufacturing sectors, educational and training solutions, security and authentication, and the creation of gesture recognition software development kits.
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Top Growth Drivers in the Gesture Recognition Industry: What's Accelerating the Market?
The surge in digitalization is fueling the expansion of the gesture recognition market. Various firms and institutions are implementing biometric solutions that aid in digitizing large scale operations. Biometrics is a scientific technique that identifies an individual's gestures by assessing their physical or behavioral characteristics, applicable in devices like mobile phones, laptops, and screening procedures. Corporations are becoming more aware of the advantages of biometric technology in terms of bolstering security and simplifying operations, thus driving its uptake. As per Imageware, a biometric identification and authentication solutions company based in the U.S., the global biometric technology market is anticipated to hit $55.42 billion by 2027. Consequently, the continued digitalization is driving the growth of the gesture recognition market.
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What Trends Will Shape the Gesture Recognition Market Through 2029 and Beyond?
Prominent technology enhancement forms a primary trend escalating the prominence in gesture recognition market. Major corporations functioning in this field of gesture recognition are aspiring to innovate novel technological solutions in order to cater to the consumers' demands, thereby fortifying their market hold. In the month of July 2022, STMicroelectronics - a semiconductor firm grounded in Switzerland - initiated a touchless control system supported by gestures for candid, budget-friendly applications for consumers and commercial use. This system is named STGesture and acts as a complementary software to the firm's sourced VL53L5CX Time-of-Flight (ToF) ranging sensor. This software, with the presence of the VL53L5CX proximity ToF sensor, facilitates elementary gesture recognition and has the capability to detect tap and swipe actions.
What Are the Main Segments in the Gesture Recognition Market?
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
Subsegments:
1) By Online Gesture: Real-Time Gesture Recognition, Gesture Tracking And Analysis
2) By Offline Gesture: Pre-Recorded Gesture Recognition, Gesture Database And Pattern Recognition
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Which Top Companies are Driving Growth in the Gesture Recognition Market?
Major companies operating in the gesture recognition market include Apple Inc., Intel Corporation,Microchip Technology Inc.,Qualcomm Technologies Inc., Synaptics Inc., Google LLC, GestureTek, PointGrab Ltd., Ultraleap Ltd., Oblong Inc.,Sony Corporation,EyeSight Technologies,Omron Corporation,Elliptic Labs,GestureTek, Crunchfish AB,XYZ Interactive Technologies Inc., Pebbles Interfaces, Vayyar Imaging Ltd., Intel RealSense Technology, Gestoos,Gestigon GmbH, pmdtechnologies ag
Which Regions Will Dominate the Gesture Recognition Market Through 2029?
North America was the largest region in the gesture recognition market in 2024. The regions covered in the gesture recognition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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