The Gesture Recognition in Consumer Electronics Market is estimated to hit $25.94 billion by 2023
Asia-pacific holds the highest gesture recognition devices market share, and is estimated to grow at a CAGR of 40.6% from $2.411 billion in 2017 to $17.026 billion by 2023. The main reason for the growth of the market in this region is a heavily populated area, and is having major market share for computing devices. Americas is one of the dominant markets in gesture recognition in the consumer electronics market. The main reason for the growth of this market is due to the use of sensors that are rapidly increasing in computing devices for different types of gestures.
Selected Analysis done in the full Report: Gesture recognition technology is based on the sensors, which is used in various electronic devices such as gaming devices, smartphones, tablets, laptops, PCs, smart televisions, set top boxes and wearable devices. Each and every product has its own lifespan. Laptops and PCs hardware lifespan is about 5-6 years, and the apps and software applications need to be updated every 5-6 months that depends on the app that is used in the system. The life span of gaming devices with gesture technology is less which is around one year. Gaming gesture related software should be updated every 2-3 months, and usually depends on the app.
Excerpts on Market Growth Factors Mentioned in the Full Report:
The ease of using gesture recognition technology has led to the increasing adoption of this technology in various applications including aerospace, building automation, medical applications, and automobile applications. The growing adoption rate is projected to propel the market growth. Integration of gesture recognition systems in cars, trucks etc. are found to enhance the levels of safety of drivers and passengers by enabling the user to control various devices by simple gestures. This factor is expected to drive significant growth for the market.
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