Business news

Gesture Recognition Market to Exhibit a Remarkable CAGR Growth by 2030

As per the report published by The Brainy Insights, the global gesture recognition market is expected to grow from USD 8.32 billion in 2021 to USD 43.25 billion by 2030, at a CAGR of 20.10% during the forecast period 2022-2030. Asia Pacific region emerged as the largest market for the global gesture recognition market, with a 34.5% share of the market revenue in 2021. The Asia Pacific currently dominates the gesture recognition market due to the rising awareness regarding hygiene and cutting-edge safety standards in arising countries, such as China and India, which drives the development of the gesture recognition market. Similarly, governments prioritize security in countries like Japan, South Korea, and China. Regardless the increasing need for gesture-enabled products, such as laptops, smartphones, tablets, smart wearables, and smart TVs, is anticipated to push the development of the gesture recognition market in the Asia Pacific region. The biometrics market in the APAC region is set to rise due to technical advances in biometric technology and the lower cost of the biometric device. The rising security problems in the region’s major countries have pushed the demand for precise and dependable biometric systems.

Gesture Recognition Market Size by Type, End-User, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Leading companies in the industry include Synaptics Incorporated, SOFTKINETIC, QUALCOMM Incorporated, Microsoft Corporation, Microchip Technology Incorporated, Intel Corporation, Infineon Technologies AG, Eyesight Technologies Ltd, Apple Inc., Alphabet Inc, among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The type segment of gesture recognition market is divided into touchless system & touched system. The touchless segment dominated the market, with a market share of around 55% in 2021. The end-user segment of of gesture recognition market is divided into consumer electronics, healthcare, automotive, retail, transportation, aerospace & defense, gaming, and others. The consumer electronics segment dominated the market, with a market share of around 15% in 2021.

The explosion of the COVID-19 pandemic led to the closure or temporary shutdown of plants, storage, companies, and universities worldwide. It was executed by enforcing other lockdowns, including restricted travel, limited entry to public spaces, theme parks, restaurants, cinema halls, and malls, and stringent social distancing rules. Worldwide, most industries noticed disruptions in supply chain functions and logistics-related assistance. Less customer and corporate spending, lockdown measures, and supply chain troubles have affected the development of the gesture recognition market. The market is dropping owing to the shutdown of numerous small-medium enterprises, lockdowns, logistic disruptions, and other concerns due to the Covid-19 pandemic. The pandemic has forced governments worldwide to deviate their priority and spending to the healthcare Industry. The need from end-users also decreased significantly during covid.

To get leading market solutions, Visit the Link

To Top

Pin It on Pinterest

Share This