In the last few decades, in automotive design, the adoption of gesture recognition technology is a key trend extending ample opportunities to the gesture recognition and touchless sensing market. Meanwhile, the automotive industry has undergone significant change due to the steady development of the automotive electronics sector. The automotive electronics sector has embraced new technologies due to which gesture recognition and touchless sensing is a feature of several types of automobiles.
Besides this, rising popularity of autonomous car technology and rising demand for smart car is expanding the growth horizon of gesture recognition and touchless sensing market.
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Across a host of industries, the growing demand for digital resources is another key driver for the gesture recognition and touchless sensing market. Gesture recognition technology is used in a number of industrial operations in the pursuit of digitization of the industrial sector. For example, for manufacturing and packaging processes, the convenience of gesture recognition is likely to open new avenues of growth for the gesture recognition and touchless sensing market.
Furthermore, the steady adoption of gesture recognition and touchless sensing technology by OEMs has also greatly benefitted to the growth of gesture recognition and touchless sensing market.
On the downside, high cost of gesture recognition and touchless sensing technology is a major challenge slowing the growth of gesture recognition and touchless sensing technology market.
Governed by Regulatory Frameworks challenge for players
Currently, the gesture recognition and touchless sensing market features a fragmented vendor landscape. However, consolidation is expected in the coming years as conventions of the industry get concretized. Nonetheless, development and implementation of gesture recognition and touchless sensing technology governed by complex regulatory frameworks is likely to remain a challenge for the gesture recognition and touchless sensing market.
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Key companies having a significant presence in the gesture recognition and touchless sensing market include Qualcomm Technologies Inc., Infineon Technologies AG, Sony Corporation, Microsoft Corporation, Cognitec Systems GmbH, Apple Inc., Google Inc., and Crossmatch.