Automotive Gesture Recognition Market Projected to Experience Major Revenue
Posted by Arslan on January 4th, 2019
Automotive gesture recognition is comprised of electronic system installed in automobiles as a part of the human-machine interface (HMI). The automotive gesture recognition systems work on and the motion sensors of the gesture recognition system perceive physical movements of the driver without the need of physical contact or manual data insertion. Eye tracking, facial recognition, voice recognition, and lip movement analysis are known as perceptual user interfaces that collectively form gesture recognition system in automobiles.
Rampant digitization across the automotive industry is contemplated to be one of the predominant factors driving automotive gesture recognition market. A user-friendly interface with minimal technical complexities makes it easy to access, thereby enabling automotive gesture recognition market to procure strong gains. Moreover, the automotive gesture recognition market is likely to benefit from rising number of customers seeking for application-based vehicle technologies. Governmental implications across several regions for ensuring road safety is also anticipated to invigorate growth of automotive gesture recognition market. As per the meticulous research study on ‘Automotive Gesture Recognition Market’ compiled by Fact.MR for a forecast timespan of 2017 to 2022, the market valued at US$ 1,119.6 Mn and is projected to value approximately US$ 4,239.4 Mn by 2022 end.
Notable demand from infotainment systems, navigation applications, and multimedia functionalities are envisaged to stimulate further penetration of automotive gesture recognition market. Escalating demand for medium and high-end passenger vehicles across various regions coupled with shifting customer inclination towards technically abreast variants is further poised to spur revenues of automotive gesture recognition market. On the other hand, heavy commercial vehicle manufacturers are less likely to embrace technologies of automotive gesture recognition market in the wake of minimal proximity of vehicles in public utilities.
While cutting down of physical contact in car operations is being focused by manufacturers of automotive gesture recognition market, the report distinctly sheds light on surging demand for touch-based products. Considering the aforementioned contradiction, the report will also emphasize on determinants inclined towards touch-based products in automotive gesture recognition market. Between the forecast timeline, the automotive gesture recognition market revenues obtained from sales of touch-based products are poised to showcase an incremental leap. As a result, the adoption rate of touch-based products is expected to overpower by touchless ones in automotive gesture recognition market.
Going forward, manufacturers operating in the automotive gesture recognition market are foreseen to be highly focused on revitalization of the existing key recognition technologies by integrating advanced sensors. However, the pricing of products in automotive gesture recognition market with such advancements will eventually rev up. Contrarily, the automakers will be looking for affordable options which will, in turn, limit the growth of automotive gesture recognition market.
Investment in Disruptive Technology Innovations Aimed at Reducing Driver Distraction Gaining Ground
Automotive manufacturers, particularly carmakers, are offering a plethora of infotainment and other electronic features that can be manipulated by driver and passengers. However, increasing number of functionality features inside the vehicle holds the potential risk of driver distraction. Studies have observed that among the causes of driver distraction, visual and manual distractions are at the helm. As manufacturers and product development engineers are engaged in developing functionality features with least driver distraction, the gesture detection systems based on different sensors and 3D tracking technology continue to fail in achieving the highest efficiency. Disruptive innovations are being introduced in the automotive gesture recognition market that focus on reducing driver distraction and enhancing comfort and control of the driver at an affordable cost. Innovations as such are likely to influence the growth trajectory of the automotive gesture recognition market in the coming years.
Shift towards Touchless Systems Gaining Momentum; Touch-based Gesture Recognition Dominates
The dominance of the touch-based gesture recognition systems in the automotive gesture recognition market against the backdrop of a prominent end-user sentiment for touch-based technologies. While over 80% of the global market shares in 2017 were captured by touch-based gesture recognition segment, touchless systems have entered the market witnessing a considerably rising consumer confidence and are expected to witness an optimistic market outlook during the forecast period and beyond. However, adoption of touchless automotive gesture recognition system in the simple operations increases complexity and is likely to face the challenge of restricted adoption as compared to touch-based systems.
Increasing Implementation of the Functional Safety Technology in Automobiles Drives Adoption of Gesture Recognition Technology
To align with the rising awareness regarding driver safety and growing consumer demand for safety features, automakers are actively engaged in ways to install multiple safety features in the automobiles that ensure safety without affecting the interior design of automobiles. Owing to technological advancements, implementation of sensor-based electronic devices in automobiles has amplified in the past decade. On the same lines, the human-machine interface (HMI) in the form of gesture recognition is being installed in automobiles at a higher rate. Further, with the increasing government regulations for driver safety, the trend of installation of the functional safety features has been propelled, in turn, expected to drive the automotive gesture recognition market at an exponential rate in the coming years.
Vehicle Electrification and Autonomous Driving Trends to Present Lucrative Opportunity for Gesture Recognition Market
Electrification of the automotive industry has introduced autonomous and electric vehicles that are the highest consumer of electronic devices. Autonomous vehicles, in particular, present the epitome of electronic device operations where the vehicle is guided by sensors and assisting systems providing minimum human intervention. Sensor-based automotive gesture recognition technology is likely to be installed in the increasing numbers of electric and autonomous vehicles. Growing importance of driver safety and ongoing electrification of the automotive industry is set to present new opportunities for the automotive gesture recognition market.
The competitive landscape discusses the market position of key companies operating in the automotive gesture recognition market on the global stage. With the ongoing electrification of the automotive industry, automakers are expected to introduce electric automobiles with the functional safety features including driver assistance such as gesture recognition systems. The recent past has witnessed significant merger, acquisition and other expansion strategies adopted by the automotive gesture recognition manufacturers. Such developments are likely to bode well for the progress of the automotive gesture recognition market during the forecast period.
The report has identified key market players of the automotive gesture recognition market, few of them are Continental AG, Harman International, NXP Semiconductors, Cognitec Systems GmbH, Gestigon GmbH, Eyesight Technologies, Synaptics Incorporated, Softkinetic, Visteon Corporation, and Qualcomm Technologies Inc. among others.
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About the AuthorArslan
Joined: December 18th, 2017
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