April 3, 2013 -
According to a new market research report, Gesture Recognition & Touchless Sensing Market, the total market is expected to reach $15.02 billion by 2018, growing at a CAGR of 34.94% from 2013 to 2018.
The report, published by MarketsandMarkets, focuses on the in-depth segmentation of these markets by the different technologies, products and applications. For instance, says the research group, the touchless biometric market has been segmented by the different types like face, iris, voice and touchless fingerprint biometrics.
Some key take-aways from the report include: America is the fastest growing region for the touchless biometric market, followed by the EMEA region; For face recognition, government applications will dominate the market for the next five years; Currently, consumer electronics application contributes to more than 99% of the global gesture recognition market; and factors such as evolving technology and increasing adoption by OEMs are rapidly changing the market ecosystem.
One of the objectives of the research study was to analyze the market trends for each of the gesture recognition technologies and touch-less sensing products. The growth rates of the various technologies and the gesture recognition enabled consumer electronic devices.
According to MarketsandMarkets, earlier buyers will receive 10% customization on reports.
In a recent Biometric Research Note, the Biometrics Research Group shares the belief that the market is set for significant growth, estimating that “U.S. consumers will use smartphones and tablet computers to make retail purchases of approximately US$35 billion this year, compared with US$20 billion in 2012.”
The Biometrics Research Group also projects that the global biometrics market will grow to $15 billion by 2015 from its 2012 estimated value of $7 billion.