Automotive Gesture Recognition System Market: Current Analysis and Forecast (2021-2027)

Automotive Gesture Recognition System Market: Current Analysis and Forecast (2021-2027)

Global Automotive Gesture Recognition System Market is anticipated display a CAGR of around ~16% over the forecast period (2021-2027). The automotive gesture recognition system market is predicted to develop due to factors such as the acceptance of smart technology features in automobiles and the involvement of novel technologies for enhanced user interface (UI). However, market development is constrained by technological troubleshooting, upgrading, and maintenance, as well as a drop in vehicle production and sales. On the contrary, market participants are expected to benefit from engaging into agreements and contracts with car OEMs for long-term commercial possibilities and expansion in emerging countries. Automotive manufacturers are concentrating their R&D efforts on equipping vehicles with more digital and modern technology in order to improve consumer safety and satisfaction. Tesla is the R&D investment leader, spending about $2,984 each car. In recent years, the car industry has made significant progress in advanced driver assistance systems (ADAS) to increase driver and passenger safety and operational efficiency. Furthermore, the growing demand for sophisticated ADAS features such as automated emergency braking and adaptive cruise control, as well as higher government restrictions aimed at reducing road accidents, has prompted major automobile OEMs to include ADAS technologies in their next-generation vehicles.

Insights Presented in the Report

“Amongst Component Type, Touchless Systems segment dominated the market in 2020”

Based on Component Type, the market is segmented into Touch Based Systems and Touchless Systems. The Touchless Systems segment is expected to grow at a higher CAGR during the forecasted period. By component type, the touchless system sector is expected to develop at the quickest rate throughout the projection period. This is due to factors such as improved user experience in touchless gesture recognition systems' different applications and driving comfort

“Amongst Authentication Type, Hand/Fingerprint/Leg segment dominated the market in 2020.”

Based on Authentication Type, the market is segmented into Hand/Fingerprint/Leg, Face, Vision/IRIS and Others. The Hand/Fingerprint/Leg segment is expected to grow at a higher CAGR during the forecasted period. By authentication type, the Hand/ Fingerprint/ Leg authentication type is expected to have the greatest market size. The expansion of the visual interface market is being fueled by factors such as technical advancements and enhanced safety standards

“Amongst Application, Multimedia/Infotainment/Navigation segment dominated the market in 2020.”

Based on Application, the market is segmented into Multimedia/Infotainment/Navigation, Lighting Systems and Others. The Multimedia/Infotainment/Navigation segment is expected to grow at a higher CAGR during the forecasted period. During the projected period, the multimedia/infotainment/navigation category is expected to increase at the quickest rate. With the growing focus on lowering driver distraction concerns, most gesture recognition system makers and OEMs are concentrating on improving the user experience when operating these infotainment or navigation systems, as well as delivering convenience and comfort to the driver

“Europe represents as the largest market.”

Based on the estimation, during the projection period of 2021-2027, Europe is expected to grow at a higher CAGR. By value and volume, the European area is anticipated to be the largest market with the highest proportion of the market. Because of the high penetration of Gesture Recognition System as well as significant car production and sales due to high discretionary income in countries like Germany and the United Kingdom, the European market is expected to be the largest. Because of the existence of the world's most well-known automotive manufacturers, the market in Europe is expected to increase significantly, owing to the high demand for gesture recognition systems. Many passenger automobiles and buses in Europe, for example, are outfitted with this technology, which greatly improves driver and vehicle safety. Some of the major players operating in the market includes Synaptics Incorporated, Continental AG, Visteon Corp, NXP Semiconductors, Qualcomm Inc., Cognitec Systems GmbH, Cipia Vision Ltd, Samsung Electronics Co., Ltd., Sony Corporation, Neonode Inc etc.

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