PORTLAND, Ore., September 28, 2021 / PRNewswire / – Allied Market Research published a report titled “Automotive Gesture Recognition Systems Market by component (touch systems and contactless systems), type of authentication (recognition of hands / fingerprints / legs, facial recognition, vision recognition / IRIS and others), application (multimedia / infotainment / navigation, lighting systems et al): Global Opportunity Analysis and Industry Forecast, 2021-2030 “. According to the report, the global automotive gesture recognition systems industry has generated $ 990.4 million in 2020, and should generate $ 4.3 billion by 2030, with a CAGR of 18.4% from 2021 to 2030.
Main determinants of growth
The adoption of intelligent technological features in vehicles and the intervention of innovative technologies for advanced user interface are driving the growth of the global automotive gesture recognition systems market. However, the decline in the production and sale of automobiles due to troubleshooting, updating and maintaining the technology is hampering the growth of the market. On the other hand, growth in developing countries and the conclusion of agreements and contracts with automotive suppliers present new opportunities in the years to come.
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- The outbreak of the Covid-19 pandemic has resulted in a global foreclosure that has resulted in high financial losses and significant uncertainties in the business operations of the entire auto industry.
- The majority of governments have restricted international travel to control the spread of the virus, which has negatively impacted the demand and supply of the auto industry.
- Automotive Gesture Recognition System market players are following certain operations management approaches by reducing budgets, lengthening equipment lifecycles, reducing staff size, and reducing wages in the short term to overcome the downturn. financial.
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Contactless systems segment to maintain its leadership status throughout the forecast period
On the basis of components, the contactless systems segment held the highest market share in 2020, accounting for more than half of the global automotive gesture recognition systems market, and is expected to maintain its leading status throughout. the forecast period. This is due to the growing demand from car manufacturers to develop premium safety for vehicle drivers. Additionally, this segment is expected to have the highest CAGR of 19.9% from 2021 to 2030.
The hand / fingerprint / leg recognition segment to maintain its leading position during the forecast period
Based on the type of authentication, the hand / fingerprint / leg recognition segment accounted for the largest share in 2020, contributing over a third of the automotive gesture recognition systems market, and is expected to maintain its leadership position during the forecast period. This is due to the wide availability of technology based on hand / fingerprint / leg recognition and consumer awareness of system operations. However, the facial recognition segment is expected to account for the largest CAGR of 21.5% from 2021 to 2030, due to its use to prevent unauthorized access to the vehicle and minimize the risk of vehicle theft.
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Europe, followed by North America, to maintain its dominance by 2030
Depending on the region, Europe, followed by North America, held the highest market share in terms of 2020 revenue, accounting for over a third of the global automotive gesture recognition systems market. This is due to the increased adoption of autonomous and electric vehicles which has led to the growth of the Automotive Gesture Recognition Systems market in Europe. Additionally, this region is expected to experience the fastest CAGR of 19.8% during the forecast period.
Main market players: –
- Cipia Vision Ltd.
- Cognitec Systems GmbH
- Continental SA
- NXP semiconductors
- Qualcomm Technologies, Inc.
- Samsung Electronics Co., Ltd
- Sony Corporation
- Synaptics Incorporated
- Usens Inc
- Visteon Company
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