Market Overview

Market Research Future (MRFR), in its recently published research report, asserts that the Gesture Recognition Market 2020 is expected to grow exponentially over the review period, recording a substantial market valuation of USD 26.94 billion and a healthy 27.58% CAGR in the forecast period.

Drivers and Restraints

Gesture recognition is the conversion, using a mathematical algorithm, of a hominid gesture or signal to order. In the absence of any physical devices, it enables any individual to interrelate with the computer as an input mechanism for performing desired actions within a program. The technology interprets human expressions and motions, such as hands, fingers, back, head or whole body movement. It helps users to only use their gestures to operate and monitor devices. It is projected to expand due to increased per capita income, increased technological advances and burgeoning digitization across numerous industries such as automotive, consumer electronics, and healthcare. The increasing usage of consumer electronics, the increasing introduction of the Internet of Things (IoT), and the rising need for comfort and convenience in product usage also provide an upthrust to the industry. Lower installation costs and improved user experience in different applications drive the Gesture Recognition industry primarily. The development is fueled by the introduction of gesture recognition technology in smart phones and automotive equipment.

Nonetheless, lack of knowledge among end users and complex manufacturing environment hinder market growth across all major regions.

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Global Gesture Recognition Market   - Segmentations

The report is segmented into four dynamics;

By Screen Type             : Green, white, and amber screen.

By Display Type           : CRT, LCD, and LED Display.

By End-User    : Consumer Electronics, Gaming, Automotive, Medical, Manufacturing, and others.

By Regions            : Asia Pacific, Americas, Europe, and the Rest-of-the-World.

Gesture Recognition Market   - Geographical Analysis

North America dominates the global Gesture Recognition market. The largest market share attributes to the high adoption of advanced technologies and LCD and graphic monitors in various sectors. Besides, the presence of several notable players and display controllers market substantiate the growth of the Gesture Recognition industry in North America.

Moreover, increasing investments transpired into the development of technology, and products influence the Gesture Recognition market growth.  Additionally, the ability to develop cutting-edge display technologies and the growing uptake of these displays in the healthcare sector drives regional market growth. The North American Gesture Recognition market is projected to retain its dominance throughout the estimated period.

Europe stands second in the global Gesture Recognition market. The market is driven by the augmenting demand for Gesture Recognitions from the burgeoning industries such as consumer electronics, gaming, healthcare, and automotive. Moreover, the penetration of smart connected devices, alongside the resurging economy in the region boosts the growth of the market. The European Gesture Recognition market is expected to create a substantial revenue pocket during the assessment period.

The Asia Pacific Gesture Recognition market is emerging as a rapidly growing market globally. Factors such as the rising sales of smartphones and the rapid economic growth drive the growth of the market. Moreover, the government's increase in healthcare expenditure, various healthcare initiatives, and the presence of leading Gesture Recognition manufacturers in the region foster market growth.

Additionally, the rapid urbanization and expanding the manufacturing sector in the region propel the growth of the market. Furthermore, the extensive uptake of Gesture Recognitions in the healthcare and automotive industries in the region pushes the market growth.

 Global Gesture Recognition Market   - Competitive Landscape

Fiercely competitive, the Gesture Recognition market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers acquisitions, collaborations, expansion, and product launch. They make substantial investments to drive R D activities to develop a new product, technology, and upgrade their existing portfolio.

They acquire small yet promising companies in rapidly growing markets to improve their market performance and expand their global footprints. Immense revenue generation opportunities demonstrated by this market attract many new entrants. However, they find it further challenging to compete with well-established players in terms of technology.

Major Players:

Players leading the global Gesture Recognition market include Richardson Electronics Ltd. (US), Eizo Corporation (Japan), Blaze display technology Co. Ltd. (China), Tianma Microelectronics Co. Ltd. (China), Microtips Technology LLC (US), Ampronix Inc. (US), Shelly Inc (US), and JVC Kenwood Corporation (Japan), among others.

Industry/ Innovation/ Related News

June 20, 2020 --- GoPro, Inc. (the US), the world's leading technology company and the most versatile action camera brand announced the launching date of GoPro Hero 9. The GoPro model features a much larger front display with a basic Gesture Recognition that saves battery life in shooting mode.

June 11, 2020 --- Toshiba Electronic Devices Storage Corporation (Japan) launched two lens reduction type 1,500-pixel monochrome CCD linear image sensors for industrial equipment - TCD1105GFG with a built-in electronic shutter function, and TCD1106GFG. These new sensors support two key industry requirements - faster operation of equipment that incorporates sensors, including inspection equipment with monochrome CCD linear image sensors and lower power consumption.

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