MarketsandMarkets is anticipating major growth in the Gesture Recognition and Touchless Sensing Market. The firm believes that the market will nearly triple in the next few years, jumping from $13.6 billion in 2021 to $37.6 billion in 2026. Those numbers correspond to a CAGR of 22.6 percent.
According to MarketsandMarkets, the demand for touchless technologies will outpace the demand for touch-based gesture recognition solutions. That trend reflects the impact of COVID-19, which has made people more aware of the health risks associated with devices that require physical contact. Touchless user interfaces are expected to be particularly popular in the next generation of smart vehicles, where they can help people navigate menus more quickly, and without taking their eyes off the road.
Touch-based gesture recognition technologies will still turn up in consumer electronic devices such as gaming systems, due in large part to their low cost and ease of integration. North America will be the biggest market for gesture recognition tech, though the Asia Pacific region will display a higher CAGR. Countries like China, India, South Korea, and Japan are using gesture recognition in government-backed smart city projects, while consumers have expressed interest in devices (such as TVs and smartphones) with gesture recognition capabilities.
The growing demand for touchless technologies in the APAC region will coincide with a growing demand for biometric technologies more generally. Biometric tech can improve security, while touchless tech will help meet the demand for more hygienic solutions.
MarketsandMarkets listed HID Global, Infineon, Cognitec, and iProov as some of the biggets players in the gesture recognition space, placing them alongside perennial tech titans like Microsoft, Qualcomm, Apple, and Google. The numbers are in keeping with the firm’s 2020 report on the gesture recognition market, which predicted a $32.3 billion market for 2025. Valuates similarly expects the market to reach $34.3 billion in the same time frame.
October 22, 2021 – by Eric Weiss