According to a recent market study published by Transparency Market Research, the global gesture recognition market is expected to reach a valuation of US$29.1 bn by 2021, increasing from US$7.5 bn in 2014. This will translate into a whopping compounded annual growth rate of 20.3% therein. Complete analysis of the development of this market is given in the report, titled “Gesture Recognition Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015 - 2021.”
Browse full Gesture Recognition Market by Application (Automotive, Hospitality, Consumer electronics, Gaming, Aerospace and defense, Commercial centers, Educational hubs, Medical centers), by Technology (Touch based gesture recognition, Touchless gesture recognition) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015 - 2021 report at https://www.transparencymarketresearch.com/gesture-recognition-market.html?
Gesture recognition involves the mathematical analysis of human motion by means of a computing tool. Gesture recognition, combined with voice recognition, facial recognition, eye tracking, and lip movement, is one of the major elements of perceptual user interface (PUI).
According to the report’s findings, technological developments, combined with the rising popularity of devices incorporating gesture recognition, are the major factor driving the global gesture recognition market. Moreover, developments in 3D vision and gesture tracking technology, which are increasingly being used in consumer electronics and automobiles, will stimulate growth of this market until the end of the forecast period. With rising application of gesture recognition technology in the industrial arena, this market will receive a further boost. In industrial settings, gesture control technology is used as a substitute for physical controls to avoid hazardous situations.
However, technical insufficiencies and lack of standardization in the development and implementation of gesture recognition technologies are restraining the market’s growth. The high development and installation costs of gesture recognition technology are hindering this market’s growth. Nevertheless, cost constraints will have a moderate impact on the growth of the market in the long term.
Automotive, consumer electronics, aerospace and defense, educational hubs, hospitality, gaming, commercial centers, medical centers, and others are the application segments of this market. New-age consumer electronics such as smart TVs, tablets, smartphones, and laptops are increasingly being incorporated with gesture recognition modules for improved interaction with the user. Apart from this, the application of touch-free gesture recognition technology in automobiles, hand gesture recognition in video game consoles, etc. are positively influencing the growth of this market. Gesture control technologies are increasingly being used in modern medical centers to provide assistance to surgeons. Furthermore, hi-tech devices such as smart projectors and other gesture-based learning devices are contributing to the popularity of gesture recognition technologies.
Still in the nascent stage, companies involved in gesture recognition are focusing on product innovation through R&D and mergers and acquisitions for a stronger presence in this market. For instance, Apple Inc. is focused on R&D activities in the bid to offer better services and improved products. In 2014, Apple Inc. invested US$6.04 bn on R&D for recognition technologies, a considerable increase over its investment of US$4.50 bn in 2013. This is expected to become increasingly common as the market progresses.
The Global gesture recognition market has been segmented as follows:
Global Gesture Recognition Market by Application
Global Gesture Recognition Market by Technology
Global Gesture Recognition Market by Region
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