Implementation of smart technology features in vehicles and surge in usage of innovative technologies for advanced user interface propel the growth of the global automotive gesture recognition systems market.
The global automotive gesture recognition system market was valued at $990.4 million in 2020, and is projected to reach $4,350.7 million by 2030, registering a CAGR of 18.4%. Europe was the highest revenue contributor, accounting for $361.49 million in 2020, and is estimated to reach $1,731.57 million by 2030, with a CAGR of 19.8%. Adoption of smart technology features in vehicles and intervention of innovative technologies for advanced user interface drive the growth of the global automotive gesture recognition systems market. However, decrease in production and sale of automotive due to troubleshooting, updating and maintenance of technology hinders the market growth.
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In recent years, adoption of automotive gesture recognition systems for multimedia solution, infotainment solution, and navigation solution is high amongst other applications and is expected to maintain its dominance, owing to changing consumer perspective toward in vehicle systems. Moreover, the touchless systems segment is anticipated to create lucrative growth opportunities for the automotive gesture recognition system market, owing to integration of high-end technologies in vehicles to attain operational efficiency.
Segment Review:
Based on component, the touchless systems segment held the highest market share in 2020, accounting for more than half of the global automotive gesture recognition systems market, and is estimated to maintain its leadership status throughout the forecast period. This is due to rise in demand from automotive manufacturers to develop high-end safety for vehicle drivers. Moreover, this segment is projected to manifest the highest CAGR of 19.9% from 2021 to 2030.
Based on authentication type, the hand/fingerprint/leg recognition segment accounted for the largest share in 2020, contributing to more than one-third of the global automotive gesture recognition systems market, and is projected to maintain its lead position during the forecast period. This is due to high range of technology availability based on hand/finger print/leg recognition and awareness within consumers of the system operations. However, the facial recognition segment is expected to portray the largest CAGR of 21.5% from 2021 to 2030, owing to use for avoidance of vehicle access by an unauthorized person and minimize the risk of the vehicle stolen.
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Regional Insights:
Based on region, Europe, followed by North America, held the highest market share in terms of revenue 2020, accounting for more than one-third of the global automotive gesture recognition systems market. This is due to rise in adoption of autonomous and electric vehicles have led toward the growth of the automotive gesture recognition systems market in Europe. Moreover, this region is expected to witness the fastest CAGR of 19.8% during the forecast period.
Key Industry Players:
The key players profiled in the automotive gesture recognition system market report are Cipia Vision Ltd., Cognitec Systems GmbH, Continental AG, NXP Semiconductors, Qualcomm Technologies, Inc., Samsung Electronics Co., Ltd, Sony Corporation, Synaptics Incorporated, Usens Inc, and Visteon Corporation.
