December 17, 2020
As cited by the research report titled ‘Global Automotive Gesture Recognition Market Size study, by Component (Touch Based Systems, Touchless Systems), Authentication Type (Hand/Finger Print/Leg Recognition, Facial Recognition, Vision/IRIS Recognition, Others), by Application (Multimedia/Infotainment/Navigation, Lighting Systems, Others) and Regional Forecasts 2020-2027’ available with Market Study Report LLC, global automotive gesture recognition market was valued at USD 1845 million in the year 2019 and is slated to expand with a robust CAGR of 30.5% during 2020-2027.
Industry experts cite that rising adoption of the technology in next generation cars for enhancing driving experience coupled with growing consumer awareness towards the advantages of the product such as lesser possibility of distraction-related accident and comparatively less complicated operation of built-in systems are augmenting the global automotive gesture recognition market.
For the record, gesture recognition is a technology, primarily employed in the automotive sector, that determines and recognizes commands made by the user through hand gestures within an allocated space, without physically contacting the touchscreen.
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The report states that increasing deployment of dedicated electronic hardware to support the technology, mounting sales & production of commercial vehicles as well as passenger cars, and evolution of the trend of autonomous driving are positively swaying the global automotive gesture recognition market dynamics. However, technical challenges and high costs associated with the technology are hampering the industry expansion.
The sudden outbreak of the Covid-19 pandemic has drastically affected the global economy, curbing automotive companies from making capital investment, thereby arresting the surge of the overall market.
Based on component type, global automotive gesture recognition industry is split into touchless systems, and touch-based systems. With regards to authentication type, the market is divided into vision/iris recognition, facial recognition, hand/fingerprint/leg recognition, and others. The application spectrum of the overall market is bifurcated into lighting systems, multimedia/infotainment/navigation, and others.
From a regional frame of reference, Asia-Pacific accounts for a majority of the global automotive gesture recognition market share and is estimated to register the highest CAGR over 2020-2027. Increasing production volume of next generation vehicles, high concentration of leading manufacturers, rising disposable income, and surging demand for advanced safety as well as comfort systems in vehicles are fostering the expansion of the regional market.
Players that boast of a commanding status in worldwide automotive gesture recognition industry sphere are Cognitec Systems GmbH, Omek Interactive Ltd., Softkinetic Inc., Eyesight Technologies Ltd., NXP Semiconductors N.V., Qualcomm Inc., Harman International Industries Inc., Visteon Corporation, Synaptics Incorporated, and Continental AG among others.