Evaluating the Gesture Recognition and Touchless Sensing Market’s Growth Prospects from 2024 to 2033
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How is the Growth Rate of the Gesture Recognition and Touchless Sensing Market Estimated for 2024-2033?
In recent times, there has been a tremendous expansion in the market size of gesture recognition and touchless sensing. The market is forecasted to elevate from $16.84 billion in 2023 to a whopping $20.36 billion in 2024, with a compound annual growth rate (CAGR) of 21.0%. Numerous factors such as pioneering human-machine interactions, the introduction of gesture controls in the automotive industry, applications in healthcare and medicine, integration in commercial and retail, and the proliferation of smart home automation have spurred the growth during the previous period.
An increase in the size of the gesture recognition and touchless sensing market is projected in the upcoming years, with an estimation of reaching $41.94 billion in 2028. This growth equates to a compound annual growth rate (CAGR) of 19.8%. The advancement during this period can be accredited to various factors such as their usage in entertainment and gaming, a focus on hygienic and sanitary solutions, integration into Internet of Things (IoT) devices, uplift in contactless payment and retail applications, and extending use in the automobile industry. The forecast period also trends towards their applications in medical and healthcare settings, innovations in sensing technologies, the rise of augmented reality (AR) and virtual reality (VR), and the expansion in consumer electronics.
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What Key Drivers Are Propelling the gesture recognition and touchless sensing Market’s Growth?
The expansion of the touchless sensing and gesture recognition market is being driven by its increasing application in the automotive industry. The sector is involved in the creation and production of motorcycles, among other things. These systems help to mitigate distractions for drivers that can result from awkwardly located controls or the need to interact with touchscreens. For example, the US government organization, the Board of Governors of the Federal Reserve System, reported in August 2023 that total vehicle production nationwide increased to 11.77 million units in July, a rise from 10.91 million units in June. This growing utilization in the automotive sector is propelling the touchless sensing and gesture recognition market.
What Are the Distinct Segments of the Gesture Recognition and Touchless Sensing Market?
1) By Product: Biometric equipment, Sanitary Equipment
2) By Technology: Touch-based, Touchless
3) By Industry: Automotive, Consumer Electronics, Healthcare, Advertisement And Communication, Defense, Finance and Banking, Government, Other Industries
Which New Trends Are Making Waves in the Gesture Recognition and Touchless Sensing Market?
The surge in technological advancements is a significant trend growing increasingly popular within the gesture recognition and touchless sensing market. Many leading businesses in this sector are releasing novel products to maintain their market standing. For example, in May 2021, Boréas Technologies, a Canadian tech firm functioning in the gesture recognition and touchless sensing sector, unveiled an innovative piezo sensor which is a unique finger-sensing technology designed for smartphones. This groundbreaking technology merges high-definition haptic feedback with gesture detection and can identify an assortment of actions, including taps, swipes, clicks, and multiple-level force clicks on a smartphone, thereby providing a highly personalized haptic experience.
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North America was the largest region in the gesture recognition and touchless sensing market share in 2023. The regions covered in the gesture recognition and touchless sensing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Gesture Recognition and Touchless Sensing Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the gesture recognition and touchless sensing market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Gesture Recognition and Touchless Sensing Market Include
1. Gesture Recognition and Touchless Sensing Market Executive Summary
2. Gesture Recognition and Touchless Sensing Market Segments
3. Gesture Recognition and Touchless Sensing Market Size And Template Market Growth Rate
4. Key Gesture Recognition and Touchless Sensing Market Trends
5. Major Gesture Recognition and Touchless Sensing Market Drivers
……
25. Key Mergers And Acquisitions In The Gesture Recognition and Touchless Sensing Market
26. Top Gesture Recognition and Touchless Sensing Companies
27. Gesture Recognition and Touchless Sensing Market Opportunities And Strategies
28. Gesture Recognition and Touchless Sensing Market, Conclusions And Recommendations
29. Appendix
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