Gesture recognition: Key market research findings
- The Americas dominate the market geographically
- Consumer electronics account for a majority of the market’s revenue
- Key vendors – Microsoft, Sony, eyeSight Technologies, PointGrab, and Samsung
Technavio’s market research analysts predict the global gesture recognition market for emerging applications to surpass $386 million by 2020. The market’s growth is fueled primarily by the increasing focus on the human-machine interface in the automotive sector. Automotive manufacturers are investing heavily in R&D for the development of onboard man/machine interaction based on the gesture, touch, and voice. Since voice and touch features are already available in a majority of vehicles, manufacturers are focusing on bringing new gesture recognition technology in existing multimedia systems inside the vehicles. This will enable a more intuitive experience by allowing the driver to control a number of vehicle functions using hands instead of using the buttons and screens on the central console. During 2015, the Americas led the global gesture recognition market for emerging applications by accounting for about 40% of the overall market. The presence of prominent vendors coupled with a large target audience in the region is expected to propel growth in the global gesture recognition market for emerging applications in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the gesture recognition segments based on the type of application.
“Recently, there has been an increase in the demand for multifunctional gaming consoles. Multifunctional gaming consoles not only support games but also enable gamers to watch videos, listen to music, browse the Internet, and download videos. Essentially, these consoles function as a gaming and entertainment device with its multifunctional features. Nintendo‘s most recent console, Wii U, allows users to operate the device as a handheld console and use the same console to browse the Internet, draw sketches, and post them on social media websites,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
During 2015, the consumer electronics segment accounted for almost 100% of the market’s revenue to become the primary revenue-generating segment of the global gesture recognition market for emerging applications. During the forecast period, this segment of the market is expected to continue its market dominance owing to the huge demand for consumer electronics as opposed to luxury cars. The smart TV segment was the major contributor to the market in terms of unit shipment because smart TVs incorporate 2D gesture recognition technology.
The key vendors in the global gesture recognition market for emerging applications market include Microsoft, Sony, eyeSight Technologies, PointGrab, and Samsung. The market is currently still in its growth stage and is characterized by the presence of a number of gesture recognition companies that have a significant presence in the market, which results in the commercialization of their products. The recent years have witnessed several pure-play companies being acquired by larger corporations for their advanced technologies. Since the large corporations will not want to miss out on the significant growth opportunities presented by this market, there will be a number of M&As throughout the forecast period as well.
A more detailed analysis is available in the Technavio report, Global Gesture Recognition Market for Emerging Applications 2016-2020.
We can customize reports by other regions and specific segments upon request.
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