Automotive Gesture Recognition Systems Market to Expand with Growing Technological Advancements by CAGR of 32% During 2019-2027
The report titled “Automotive Gesture Recognition Systems Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global automotive gesture recognition market in terms of market segmentation by product, by application, by vehicle type and by region.
The growing technological advancements are driving large number of vehicle manufacturers to integrate Advanced Driver Assistance Systems (ADAS) to detect external inputs and direct the vehicle safely and accurately. Additionally, advancements in the system ensuring prompt functioning, lag minimization and reducing touch latency to diminish driver distraction along with growing awareness and regulations for driver safety are estimated to significantly support the growth of the market in upcoming years. Furthermore, the responsiveness of these systems in conveying quick warnings along with executing fast actions in real time coupled with superior probability and lower error rate is increasing the demand for these systems. On the back of these factors, the global automotive gesture recognition systems market is anticipated to record a CAGR of 32% during the forecast period i.e. 2019-2027.
On the basis of regional analysis, the automotive gesture recognition market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, North America is anticipated to be the global leader in terms of demand for these systems owing to the existence of several established vehicle manufacturers offering high-end vehicle models with enhanced automotive gesture recognition systems. The market in the region has incorporated some of the most advanced technologies in vehicle automation, and offers wide-scale technological adoption rate. The market in Europe region is anticipated to witness robust growth owing to the presence of most prominent global car manufacturers that additionally cater to the huge demand for gesture recognition systems, whereas the market in Asia Pacific is estimated to grow significantly on the back of growing demand for cars in the region.
Government Initiatives and Recent Product Developments to Promote Industry Growth
Growing government initiatives with an aim to promote the utilization of electric vehicles coupled with latest product developments to enhance the safety of drivers as well as the vehicles are some of the notable factors that are anticipated to support the growth of the market in upcoming years.
However, the high cost associated with these systems is anticipated to hinder the growth of the market over the forecast period.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the automotive gesture recognition systems market which includes company profiling of Cognitec Systems GmbH, Continental AG, HARMAN International (SAMSUNG), NXP Semiconductors, Sony Depthsensing Solutions, Visteon, Gestigon GmbH, Synaptics Inc., Visteon Corporation and Qualcomm Technologies Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the automotive gesture recognition systems market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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