At a ~25.5% CAGR, Gesture Recognition Systems Market Size to Witness Impressive Expansion of USD 83.69 billion by 2029

Exactitude Consultancy Market Research analyses that the Gesture Recognition Systems Market will witness a CAGR of 25.5% for the forecast period of 2023-2029 and is likely USD 10.5 billion in 2022 to reach at USD 83.69 billion by 2029.

A gesture recognition system is a piece of technology that analyses and recognizes human gestures, postures, and actions using sensors, cameras, and software algorithms. To comprehend the user's goals and actions, the system can monitor and analyze body movements like hand gestures, facial expressions, and body motions.

Virtual reality, gaming, human-computer interaction, medical rehabilitation, and robotics are just a few of the many uses for gesture detection Systems. To manipulate objects in a virtual world, for instance, the Systems in virtual reality can monitor the user's hand and finger movements. In video games, the Systems can pick up on body movements and direct the game character's activities. The Systems can measure a patient's movements during medical rehabilitation to track their development and give the therapist feedback.

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Market Dynamics:

✦ Drivers:

Increasing digitalization and growing technological advances across industry verticals

The use of gesture recognition technology in consumer electronics, healthcare, gaming, and automotive is increasing. Recently, wearable sensor-based gesture recognition has evolved in the healthcare sector. Gesture recognition is beneficial for medical devices; it helps in MRI (magnetic resonance imaging), contact-free navigation of X-ray displays, and improves the daily living abilities of patients. Similarly, a gesture is a command in the gaming industry rather than pressing buttons on a keyboard or moving a mouse. The system supports unintended movements and constant gestures in these interfaces to deliver the user a realistic interface.

✦ Restraints:

Trade constraints between China and US

In the last few years, the US-China two-sided trade has led to a drop in the global need for business, investments, and goods. The production decrease in China has affected businesses globally. The country plays a vital role in the worldwide supply chain of intermediate goods, especially electronics & computers, transport equipment, pharmaceuticals, and gesture recognition devices. China made a trade agreement in January 2020 to end the trade war; it is anticipated to serve as a short-term truce. Similarly, China accounts for around 45-50% of the global electronics supply; the trade war is predicted to affect global gesture recognition equipment severely. The trade limitations on gesture recognition equipment manufacturers in China are expected to affect the revenue model of wearables, smartphones, and TV manufacturers, thereby hindering the market's growth.

✦ Opportunities:

Growing patents to protect the invention

The invention is the key to remaining competitive and gaining an edge over opponents in any business. The innovation must be done by filing patent applications. These patent applications allow companies to protect their ideas and innovations from their opponents. Therefore, the filing of patents has been growing in the gesture recognition market. In 2020, 10,334 patents were published for gesture recognition. The rising number of startups business has raised the competition in the gesture recognition market. The growing patent applications result in various innovations in the gesture recognition market, extending its presence in multiple segments. Hence, the ever-increasing patent portfolio delivers ample opportunities for participants to acquire or expand the market share in the future.

Prominent Key players of the Gesture Recognition Systems Market survey report:

Historical data available in the report elaborates on the development of the Gesture Recognition Systems on national, regional and international levels. Market Research Report presents a detailed analysis based on the thorough research of the overall market, particularly on questions that border on the market size, growth scenario, potential opportunities, operation landscape, trend analysis, and competitive analysis. Some Key Competitors of the Market are - Apple Inc., Google LLC (Alphabet), Hitachi Ltd., IBM Corporation, Qualcomm Technologies, Inc. , Orbbec, Intel Corporation, GestureTek Technologies, Microchip Technology Incorporated, Infineon Technologies AG, Microsoft Corporation, LTU technologies, Amazon.

In December 2021: Xi Yu of Sun Yat-sen University in China developed a new hand gesture recognition algorithm that is accurate, complex, and applicable. The researcher revealed that hand gestures are increasingly being adopted for human-computer interaction. Advancements in camera systems, machine learning, and image analysis have enhanced optical-based gesture recognition.

In August 2020: Scientists at Nanyang Technological University, Singapore, developed an AI system that identifies hand gestures by merging skin-like electronics with computer vision. The introduction of human hand gestures by AI systems has been a valuable development and has been adopted in high-precision surgical robots, health monitoring equipment, and gaming systems, thereby accelerates the gesture recognition market growth.

Gesture Recognition Systems Market Segmentation:

Gesture Recognition Systems Market By Technology, 2023-2029, (USD Billion)

» Touchless

» Touch-Based

Gesture Recognition Systems Market By End User, 2023-2029, (USD Billion)

» Automotive

» Consumer Electronics

» Healthcare

» Gaming

» Aerospace And Defense

The regional outlook by revenue covers the countries namely:

✦ North America (United States, Canada and Mexico)

✦ Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

✦ Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

✦ South America (Brazil, Argentina, Colombia, and Rest of South America)

✦ Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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Key Features of the Gesture Recognition Systems Market Report: -

⇨  Analyse competitive developments such as expansions, deployments, new product launches, and market acquisitions.

⇨  Examine the market opportunities for stakeholders by identifying higher growth sections.

⇨  To study and analyse the global Gesture Recognition Systems industry status and forecast including key regions.

⇨  An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.

⇨  It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.

⇨  It helps you make strategic business decisions and investment plans.

Competitive Landscape

Competition has been growing for the Gesture Recognition Systems industry as the supply and demand has been on an increasing trend sine past decade. This report gives a detailed analysis of the presence of various small, medium and micro enterprises in the industry of numerous scales, their relative sizes, product offerings, and market positions in the pre and post pandemic situations. Additionally, the report provides an overview of the competitor strategy with regards to business and corporate office and functions have been provided. The report also mentions about the operations, technology infrastructure, marketing strategies and financial capabilities. Thus, the report gives a very good understanding of the market to the shareholders and stakeholders from an overall perspective.

Highlight the Following Key Factors:

► Business Description: a particular description of agency operations and enterprise departments.

► Company Strategy: The analyst's precis of the company's commercial enterprise strategy.

► SWOT Analysis: Detailed evaluation of the company's strengths, weaknesses, opportunities, and threats.

► Company History: The development of predominant occasions associated to the company.

► Main merchandise and services: A listing of the company's fundamental products, services, and brands.

► Main Competitors: A listing of the company's fundamental competitors.

► Important places and subsidiaries: The company's major places and subsidiaries' listing and contact information.

► Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.

Table of Contents

Global Gesture Recognition Systems Market Research Report 2023-2029

1 Gesture Recognition Systems Market Overview

1.1 Product Overview and Scope of Gesture Recognition Systems

1.2 Gesture Recognition Systems Segment by Type (Product Category)

1.3 Global Gesture Recognition Systems market Segment by Application

1.4 Global Gesture Recognition Systems Market by Region (2023-2029)

1.4.1 Global Gesture Recognition Systems Market Size (Value) and CAGR (%) Comparison by Region (2023-2029)

1.4.2 North America Status and Prospect (2023-2029

1.4.3 Europe Status and Prospect (2023-2029)

1.4.4 China Status and Prospect (2023-2029)

1.4.5 Japan Status and Prospect (2023-2029)

1.4.6 Southeast Asia Status and Prospect (2023-2029)

1.4.7 India Status and Prospect (2023-2029)

1.5 Global Market Size (Value) of Gesture Recognition Systems (2023-2029)

1.5.1 Global Gesture Recognition Systems Revenue Status and Outlook (2023-2029)

1.5.2 Global Gesture Recognition Systems Capacity, Production Status and Outlook (2023-2029)

…

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