Stratview Research has published a new report titled “Automotive Gesture Recognition Market” which is segmented by Product Type (Touch-based Systems and Touchless Systems), by Authentication Type (Hand Recognition/Fingerprint Recognition/Palm Recognition/Leg Recognition, Facial Recognition, Vision/Iris Recognition, and Others), by Application Type (Navigation/Multimedia/Infotainment Systems, Lighting Systems, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the market estimates a high growth rate of 17.38% CAGR during the forecast period (2022-2028) and reaches USD 2876.65 million in 2028 from USD 931.92 million in 2021.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis –
By 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 touchless systems, as a large number of companies are engaged in the development and installation of such touch technologies in modern-day vehicles.
Of late, due to the increased adoption of automation technologies in automobiles, vehicle manufacturers are focusing on the integration of touchless systems in vehicles. With the rising preference for electric vehicles among consumers lately, it is expected that touchless gesture recognition technologies would gain traction in the market and exhibit rapid growth, during the forecast period.
By Authentication Type
The market is segmented into hand recognition/fingerprint recognition/palm recognition/leg recognition, facial recognition, vision/iris recognition, and others.
As a result of many 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.
Over the years, with the rapidly changing consumer demands, there have been several advancements in passenger vehicles. One such feature is the biometric security system of the vehicles for enhanced car security.
By Application Type
The market is segmented into navigation/multimedia/infotainment systems, lighting systems, and others.
Among these applications, Navigation/Multimedia/Infotainment Systems held a market share of >57.7% of the market in 2021 and are estimated to lead the market during the forecast period. As a large percentage of automotive gesture recognition systems are used for infotainment purposes, 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.
Which Region is expected to remain the largest market?
The market is segmented into North America, Europe, Asia-Pacific, and the Rest of the world.
Among these regions, North America is expected to be dominant in the market throughout the forecast period. The region leads the global market in terms of 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 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 the rapid growth of the Asia-Pacific region, during the forecast period.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players active in the Automotive Gesture Recognition Market:
- Bosch Sensortec GmbH
- Volkswagen
- Texas Instruments Incorporated
- Aptiv
- Continental AG
- Gestion GmbH
- Melexis
- Sony Depth sensing Solutions SA/NV
- Synaptics Incorporated
- Visteon Corporation
Key questions answered by the report.
- What is the projected CAGR for revenue from the Automotive Gesture Recognition Market during the forecast period?
- What would the market be valued at by 2028?
- What is a major driving factor for the growth of the market?
- Which region accounted for the largest revenue share in the Automotive Gesture Recognition Market?
- Which are the major market players?
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