Feb 01, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Automotive Gesture Recognition Market.
It was estimated prior to this unanticipated outbreak that the Automotive Gesture Recognition Market is likely to witness an impressive CAGR of 18.0% during the forecast period. The major factor primarily driving the market for Automotive Gesture Recognition is the growing concern regarding animal health and surge in demand for the nutrient uptake of feed.
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Automotive gesture recognition system helps in enhancing safety and control of vehicles. This system gets initiated and performs the desired actions, after sensing/receiving a human touch or gesture.
The increasing integration & adoption of digital systems in the modern-day vehicles in order to enhance passenger comfort and control, is one of the major factors fueling the growth of the automotive gesture recognition market. Of late, there has been a surge in the demand for electric vehicles, which is expected to present a festoon of opportunities in the market. With the increasing demand for passenger and driver safety in vehicles, automobile manufacturers are actively engaged in developing new technology and automation features for vehicles. In addition, there has been a significant rise in the disposable income of consumers, which is immensely boosting the market growth. These are some of the major factors likely to bolster the growth of the automotive gesture recognition market during the forecast period.
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Based on the product type, the market is segmented into touch-based systems and touchless systems. The touch-based gesture recognition systems have a higher demand currently as compared to the touchless systems, as a large number of companies are engaged in the development and installation of such touch technologies in the modern-day vehicles. Of late, due to the increased adoption of automation technologies in the automobiles, vehicle manufacturers are focusing on the integration of touchless systems in vehicles. With the rising preference for electric vehicles among the consumers lately, it is expected that the touchless gesture recognition technologies would gain traction in the market and exhibit a rapid growth, during the forecast period.
Based on the authentication type, the market is segmented into hand recognition/fingerprint recognition/palm recognition/leg recognition, facial recognition, vision/iris recognition, and others. Over the years, with the rapidly changing consumer demands, there has been several advancements in passenger vehicles. One such feature is the biometric security system of the vehicles for enhanced car security. As a result of the large number of technological advancements in the market, it is estimated that the hand recognition/fingerprint recognition/palm recognition/leg recognition market sub-segment would gain the maximum traction and grow steadily, during the forecast period.
Based on the application type, the market is segmented into navigation/multimedia/infotainment systems, lighting systems, and others. Among these applications, the navigation/multimedia/infotainment systems are estimated to lead the market during the forecast period. As a large percentage of the automotive gesture recognition systems is used for infotainment purpose, such as scanning radio channels and playing music, they account for a larger share of the market as compared to other applications. Similarly, navigation is another feature that is very much sought after by consumers, which increases their demand respectively.
In terms of regions, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the world. Among these regions, North America is expected to be dominant for the automotive gesture recognition market throughout the forecast period. The region leads the global market in terms of the technological advancements and thus, generates a very demand w.r.t vehicular automation. In addition, with the ongoing R&D in electric and driverless vehicles, the overall demand for the automotive gesture recognition systems is anticipated to increase, during the forecast period. Furthermore, several companies in countries such as China, India, Japan, and South Korea have invested significantly in the market, lately, which results in a rapid growth of the Asia-Pacific region, during the forecast period.
Key players operating in the global Automotive Gesture Recognition market are-
- Bosch Sensortec GmbH
- Continental AG
- gestigon GmbH
- Sony Depthsensing Solutions SA/NV
- Synaptics Incorporated
- Texas Instruments Incorporated
- Visteon Corporation
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Automotive Gesture Recognition analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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