Gesture Recognition in Consumer Electronics Market is expected to grow at a CAGR of 34.9% by 2023

Hyderabad India - July 12, 2019 /MarketersMEDIA/ —

According to the new market research report by IndustryARC titled Gesture Recognition in Consumer Electronics Market, the market is driven by the increasing demand for Gesture Recognition in Consumer Electronics across all the regions. This report covers Gesture Recognition in Consumer Electronics Market Size by Product and Technology, Gesture Recognition in Consumer Electronics market share by top 5 companies and also the market share by start-ups during the forecast period

The global gesture recognition in consumer electronics market had a revenue of around $4.3 billion in 2017, and is estimated to grow around $10.7 billion by 2023 at a CAGR of 34.9%. In product segmentation, Gaming Devices segment is leading in the market with a revenue of $1.455 billion in 2017, and is projected to register $8.63 billion by 2023, at a CAGR of 36.3%. Laptops & PC segment is projected to register highest growth rate of 39% CAGR during the forecast period.

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Asia-Pacific continues to lead the market share and growth during 2018-2023

Asia-pacific holds the highest gesture recognition devices market share, and is estimated to grow at a CAGR of 40.6% from $2.411 billion in 2017 to $17.026 billion by 2023. The main reason for the growth of the market in this region is a heavily populated area, and is having major market share for computing devices.
Americas is one of the dominant markets in gesture recognition in the consumer electronics market. The main reason for the growth of this market is due to the use of sensors that are rapidly increasing in computing devices for different types of gestures. Also the key players are coming with new technologies and software applications pertaining to gesture recognition are being developed in order to cope up with the rising competition and to lead the market.

Selected / Sample Analysis done in the full Report:

Gesture recognition technology is based on the sensors, which is used in various electronic devices such as gaming devices, smartphones, tablets, laptops, PCs, smart televisions, set top boxes and wearable devices. Each and every product has its own lifespan. Smartphones and tablets hardware lifespan is about 3-5years, and the software involved in the smart phones should be updated every 3-5 months. Laptops and PCs hardware lifespan is about 5-6 years, and the apps and software applications need to be updated every 5-6 months that depends on the app that is used in the system. The life span of gaming devices with gesture technology is less which is around one year. Gaming gesture related software should be updated every 2-3 months, and usually depends on the app. Televisions generally have the lifespan of around 10 years, but if gesture control technology is introduced, it may decrease half of its life span. Wearable devices such as smart watch and smart glasses are generally based on the lifespan of the sensors.

Gesture recognition technology in these electronic devices’ lifespan is considered individually as their functions, hardware and software differs from each other. The lifespan of this gesture recognition product depends on the type of the product, use of the product, operating systems or software of the product. The product lifecycle also depends on the quality of the raw materials, software used in the product, quality of the sensors and the placement of the sensors in the devices.

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Excerpts on Market Growth Factors Mentioned in the Full Report:

• The ease of using gesture recognition technology has led to the increasing adoption of this technology in various applications including aerospace, building automation, medical applications, and automobile applications. The growing adoption rate is projected to propel the market growth.
• Integration of gesture recognition systems in cars, trucks etc. are found to enhance the levels of safety of drivers and passengers by enabling the user to control various devices by simple gestures. This factor is expected to drive significant growth for the market.
• Various sensing technologies are currently being developed to integrate gesture recognition in any kind of device with cameras, not just specific kind of cameras, but for a wide range without the need for any special hardware. This factor is expected to drive the demand for gesture recognition technology in the coming years.

Key Players of the Gesture Recognition in Consumer Electronics Market:

The key player of gesture recognition market from different regions is Microsoft Corporation, and its gesture recognition market share is around 24% due to the gaming devices in which Kinect sensor plays the crucial role. Microsoft has its own hardware devices related to gesture recognition gaming consoles.

Samsung Electronics is the dominant in the smart-phone market, but in the gesture recognition market, it is holding second place next to the Microsoft Corporation. Samsung Electronics holds major market share in smart-phones and tablets in which gesture recognition technology is used. Hence, gesture recognition market of Samsung Electronics is rapidly growing, and is holding 23% across the globe. Intel Corporation gesture recognition market share is around 16% across the globe as it provides the hardware related to depth sensing.

Related Report:
A. Machine to Machine Communication Market
https://www.industryarc.com/Report/15027/machine-to-machine-communication-market.html

B. Industrial Internet of Things Market
https://www.industryarc.com/Report/7385/industrial-internet-of-things-(IIoT)-market-report.html

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Organization: IndustryARC
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Release ID: 88895374