Report on Automotive Gesture Recognition Market 2017: Price, Revenue, Share, Growth and Forecast Until 2022

Posted on 2018-04-25 by Mark Hub in Automotive // 0 Comments

Rockville, US, 2018-Apr-25 — /EPR Network/ — A freshly compiled business intelligent report, titled “Automotive Gesture Recognition Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022” has been publicized to the vast archive of Fact.MR online repository. This _ page study delivers all the vital details and information required to know about “Automotive Gesture Recognition” market current as well as future prospects. The analysts of the study have gone through extensive research methodologies in order to generate data and information that reflects the latest market undercurrents and industry trends. For a deeper understanding of the market, a sub-category level analysis has been elaborated, by which readers and investors of the report will able to know that where the market stands to gain.

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The automotive industry has witnessed emergence of a plethora of products that were developed to meet the stringent driver safety regulations. Gesture recognition systems are among such products that have enhanced the operability of automobile drivers. Automotive gesture recognition systems are gaining lucrative application in futuristic automobile offerings which include – autonomous/self-driving cars and EVs. However, developers of automotive gesture recognition systems are working towards lowering the costs of integrating these systems in existing electronic circuits of vehicles. The universal penchant for “touchless” engagement with the electronic features of a vehicle is making gesture recognition a key purchasing criteria among car buyers.

Automotive gesture recognition systems are computing devices integrated in a vehicles electronic features that use algorithms to interpret motion of the driver. These systems allow the driver to use electronic amenities without direct physical contact. Eye tracking, facial recognition, voice recognition, and lip movement analysis are known as perceptual user interfaces that collectively form gesture recognition system in automobiles.

The Fact.MR report projects that towards the end of 2022, the global market for automotive gesture recognition will have surpassed US$ 4.2 Bn value, reflecting an exponential CAGR during 2017-2022.

Demand for Touch-based Gesture Recognition Systems to Gain Traction

While developers of automotive gesture recognition systems are aiming to reduce the need of physical contact in in-car operations, the report distinctly highlights the demand for touch-based products. Considering this contradiction, the report emphasizes that drivers will be more inclined towards touch-based automotive gesture recognition systems as adopting touchless sensing technologies in simple operations will be more complex for the entire driving community. Between 2017 and 2022, the global revenues amassed from sales of touch-based automotive gesture recognition products are likely to showcase an increment of US$ 2.7 Bn. In 2017, touchless products are likely to account for a little over 18% of the market. Adoption of touchless products is, thus, expected to be lower than that of touch-based automotive gesture recognition systems.

Multimedia, Infotainment & Navigation – Key Application of Automotive Gesture Recognition

Infotainment is likely to be the best-suited application for automotive gesture recognition systems. Through voice recognition, drivers can effortlessly change songs, videos, radio channels and other media, and boost their in-car entertainment quotient. Navigation is also observed as a lucrative application for automotive gesture recognition systems as a simple hand gesture will help car turn on the side indicators.

The report highlights that over three-fourth of global automotive gesture recognition system sales by the end of 2017 will be accounted by their application in multimedia, infotainment or navigation. Collectively, these application segments will gain 181 BPS by 2022 over 2017, registering US$ 2.5 Bn incremental opportunity over the forecast period.

Manufacturers are focusing towards improvement of key recognition technologies

The report explores the growth of global automotive gesture recognition market across recognition technologies. Developers of automotive gesture recognition systems are expected to focus on upgrading the existing gesture recognition technologies by adopting advanced sensors. However, with such advancements, automotive gesture recognition systems will come with high initial costs. Manufacturers of automobiles will be opting for affordable options, limiting the deployment of technological advancements in automotive gesture recognition systems.

In 2017, more than 85% of the global automotive gesture recognition market will be accounted by sales of hand or finger print recognition systems. This technology is slated to dominate, surpassing the adoption of facial, voice or iris recognition systems. Lack of proper facial recognition sensors are expected to hamper the segment’s growth, which will attribute to lowest contribution to global market value throughout the forecast period.

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Almost Every Passenger Car in the Future will be equipped with Automotive Gesture Recognition Systems

Manufacturers of commercial vehicles are less likely to promote the use of automotive gesture recognition systems, primarily due to higher proximity of these vehicles in public utilities. With passenger cars, automotive gesture recognition systems can profile the driver’s identity, and are not stressed with multiple gesture recognitions. Moreover, consumers interested in passenger cars will opt for highly-advanced variants to uplift their driving experience, and automotive gesture recognition systems are expected to befit such needs. The report estimates that through 2022, revenues amassed from sales of automotive gesture recognition systems in passenger cars will soar at a robust pace, reflecting an exponential value CAGR. The segment will also showcase highest gain of 364 BPS by 2022 over 2017, indicating that automotive gesture recognition systems are meant to facilitate the operability needs of passenger car drivers.

Competition Tracking

The report has also profiled leading manufacturers of automotive gesture recognition systems, observing their active participation in the expansion of global market. These companies include Cognitec Systems GmbH, Eyesight Technologies, Harman International, NXP Semiconductors, Gestigon GmbH, Qualcomm technologies Inc., Synaptics Incorporated, Continental AG, Softkinetic, and Visteon Corporation.

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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Automotive Market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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