According to a newly minted report by the Markets and Markets catalog, the total market worth for gesture recognition and touch-less sensing is slated to surpass the $22 billion mark by 2020 thanks to a startlingly explosive compound annual growth rate of 30.91%. This is a steep incline from the 2012 estimated valuation which rested at a paltry $2.2 billion.
Gesture Recognition & Touchless Sensing Market Outlook
The report is long-windedly titled “Gesture Recognition & Touch-Less Sensing Market by Technology (2D, 3D, Ultrasonic, IR, Capacitive), Product (Biometric, Sanitary Equipment), Application (Healthcare, Consumer Electronics, Automotive), Geography (Americas, EMEA & APAC) – Global Forecasts and Analysis to 2013 – 2020” (yes, it really is that long).
Besides predicting the market valuation of the gesture-based sub-industry as a whole, the report also suggests that the Asia-Pacific (APAC) region, with countries including China, Japan, India and South Korea, is most attracted to the technology and most ready and willing to ramp up its use. Behind APAC comes the Europe, Middle East and Africa (EMEA) region, with nations like the UK, Germany, France, Israel and the UAE leading the technological charge.
From the report, it also appears that different agencies are also drawn to different biometric intake avenues. Governments dominate the application of facial recognition software, and 2D camera technology has found firm footing among the smartphone sector, where it’s expected to stay for years to come. Mainstream automobiles are expected to adapt gesture recognition security options by 2015.
The report also examines the antecedents, restraints, and opportunities that have started to become apparent in the touch-less market. The software technology services are ready — it’s just up to companies, marketers and other agencies to drive the demand.