London, 17 March 2015 – Increased demand for cost-effective gesture recognition solutions has resulted in the moderate growth of the Global Gesture Recognition Market in Automotive Sector, which is expected to post a CAGR of 12.8 percent from 2014-2018, says research firm TechNavio.
The input devices used in gesture recognition solutions include cameras and software, which are available at a very low cost. With a number of technological advancements, the costs of such devices are decreasing significantly, which reduces the overall cost of ownership of gesture recognition solutions. This has led to an increased adoption of these devices among end-users.
“Original equipment manufacturers are incorporating gesture recognition solutions into their devices, which is expected to drive the growth of the market in the coming years,” says Faisal Ghaus, Vice President of TechNavio.
The new TechNavio report emphasizes the increasing number of partnerships in the market. Many companies are solely involved in the development of gesture recognition technology and devices. Automobile vendors are currently focusing on building partnerships with such vendors to implement gesture recognition capabilities in their products.
“Toyota has been in a partnership with Microsoft for three years and they are focusing on developing gesture recognition capabilities for Toyota vehicles using Microsoft’s patent technology,” says Ghaus.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
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