As per Global Market Insights, the Automotive Gesture Recognition Market is set to grow from its current market value of more than $1 billion to over $13.6 billion by 2024. Increasing preference for cars with advanced safety features along with rising gesture-based infotainment systems in vehicles are driving the automotive gesture recognition market. Increasing electronics and sensors in vehicles for assisting in driving operations and enhancing the overall driving experience also strengthens growth.
Automotive Gesture Recognition Market Takeaways
- Higher development and maintenance cost associated with the system may hamper the automotive gesture recognition market growth till 2024.
- Problems related to the recognizing of temporal start and end points from continuous meaningful gestures pose additional challenges.
- Touch based systems accounted for approximately 2,095.1 thousand units in 2017 and is predicted to continue its dominance over the projected time span owing to higher customer preference.
- Hand or fingerprint authentication showcased significant growth rate of more than 44% CAGR over the forecast timeframe.
- Multimedia, navigation and infotainment applications will witness robust growth of around 44% CAGR from 2018 to 2024.
- Europe accounted for the maximum revenue share of more than 43% in 2017.
- Key automotive gesture recognition market players are Delphi Automotive PLC, Harman International, Melexis, Continental AG, eyeSight Technologies Ltd., and Sony Depthsensing Solutions. Other notable participants include Intel, Synaptics Incorporated, Visteon Corporation and Texas Instruments.
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