Press release
Automotive Gesture Recognition Market Expected to Account for US$ 4.2 Bn by 2022
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Fact.MR’s report on the global automotive gesture recognition market offers key insights on how adoption of automotive gesture recognition will gain vigorous momentum during the forecast period, 2017-2022. In 2017, the global automotive gesture recognition market is pegged to reach a value of US$ 1.19 Bn. With rising inclination towards touchless operability solutions, the global automotive gesture recognition market is anticipated to bring in revenues worth over US$ 4.2 Bn, reflecting a soaring CAGR by the end of 2022.
Following insights from the report offer an analytical forecast on the growth of automotive gesture recognition across multiple regions and segments.
Owing to its outright dominance in the global automobile production, the Asia-Pacific excluding Japan (APEJ) region is slated to dominate the global automotive gesture recognition market in 2017, and beyond. The region will be observed as most attractive, owing to presence of automobile manufacturing hubs such as China, India and South Korea. By the end of 2022, revenues amassed from sales of automotive gesture recognition systems in the APEJ region are anticipated to soar at a stellar CAGR.
Between 2017 and 2022, Europe’s automotive gesture recognition market is likely to witness an incremental opportunity of more than US$ 850 Mn.
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By 2022-end, North America will witness a rampant growth in its automotive gesture recognition market, reflecting a robust value CAGR, and bringing in revenues worth nearly US$ 1 Bn.
In 2017, more than 80% of the global automotive gesture recognition market will be dominated by sales of touch-based products. Touchless products available in the global automotive gesture recognition market are likely to witness a relatively sluggish growth, exhibiting a vigorous CAGR over the forecast period.
Hand or finger print recognition systems will gain traction towards the latter half of the forecast period. On the other hand, facial recognition systems will contribute to less than 5% of global automotive gesture recognition market value, through 2022.
Towards the end of 2022, the report projects that sales of automotive gesture recognition in multimedia, navigation and infotainment applications will be considerably high, accounting for more than three-fourth of global market revenues.
Close to three-fourth of global automotive gesture recognition market will be attributed by revenues accounted by sales of automotive gesture recognition systems in passenger cars. The demand for automotive gesture recognition in commercial systems, however, is less likely to grow, owing to high installation costs of recognition systems.
The report has profiled leading players in the global automotive gesture recognition market, which include companies such as Continental AG, Harman International, NXP Semiconductors, Cognitec Systems GmbH, Gestigon GmbH, Eyesight Technologies, Synaptics Incorporated, Softkinetic, Visteon Corporation, and Qualcomm Technologies Inc.
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