Hospitality Sector to Set High Growth Opportunities for Gesture Recognition Technologies in Motion

Rising popularity of consumer electronic devices with gesture recognition capabilities and newfound and rising applications in the fields of industrial automation, smart homes, and automobiles are expected grant momentous growth to the global gesture recognition market in the future.

The market is characterized by intensive research and development activities and an extensive influx of investment owing to the presence of some of the globe’s largest and most popular technology brands. The market has witnessed the continuous introduction of innovative and cutting-edge gesture recognition applications and features, which promise to empower the communication between humans and machines. TMR finds that the market was valued at US$11.60 bn in 2015. With growth prospects as excellent as 16.2% CAGR between 2015 and 2024, the market is projected to rise to US$48.56 bn by 2024.

The highly dynamic marketplace for gesture recognition technologies is booming with technological advancements and sweeping investments from technology giants such as Apple Inc., Google Inc., Intel Corporation, and Microsoft Corporation. Rising sales of consumer electronic devices with gesture recognition capabilities are will persuade optoelectronic components companies in undertaking extensive research and strengthening their market presence through new research centers and sales offices, states a recent report by Transparency Market Research. The high influx of new vendors in the already fragmented market will intensify competition, prompting companies to differentiate their offering through innovative gesture recognition technologies and solutions in the future years.

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There has been a sizeable rise in the global sales of camera-enabled consumer electronic devices, such as smartphones, tablet computers, and wearable devices with gesture recognition capabilities based on 2D images captures by the device’s camera. Gesture recognition technologies enabling touchless interaction in camera-enabled consumer electronic products, such as face recognition in smartphone cameras, have also witnessed vast appreciation on the consumer front.

The market for gesture recognition is also expected to witness major traction from the rising adoption of gesture recognition applications as an alternative to touch-based controls in industrial settings. The increasingly complex machineries and operations in the present day technologically advanced industrial setups present many challenges to manual operations and call for innovative ways of managing machines from a distance. This factor is driving the increased adoption of gesture recognition technologies in factory automation systems and is expected to have a major impact on the short and long term development of the market.

The automobile industry is also expected to have a major impact on the gesture recognition market as automobile companies are increasingly adopting gesture recognition technologies in their vehicles. Following on from the touch and voice controls already available in existing multimedia systems used in vehicles, companies are experimenting with controls that are activated by simply moving a hand over the central console. Serving the dual purpose of ensuring onboard safety and upping the technology quotient of automobiles, gesture recognition technologies will soon be a common element of a major proportion of new-generation vehicles in the near future.

Report Link: http://www.transparencymarketresearch.com/gesture-recognition-market.html

Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.