User-friendliness of gesture recognition enabled devices along with growing application of gesture control solutions in healthcare, retail sector, and industrial settings are some of the major factors contributing to the growing popularity of gesture recognition technology at the global level. Increasing consumer preference for gesture control devices which includes tablets, PCs, laptops are contributing in the growing popularity of gesture recognition technology globally.

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Importance of gesture recognition technology lies in developing efficient interaction between humans and machines. 3D vision and gesture tracking solutions in gaming consoles along with 2D gesture recognition technology in smart TVs, PCs, and tablets is fueling the demand for touch less gesture recognition technology. Technological advancements in the gesture recognition market coupled with rising demand for this technology in smartphones are offering great opportunities for the major players in the gesture recognition market.

In future, popularity of consumer electronic devices with gesture recognition capabilities and newfound and rising applications in the fields of industrial automation, smart homes, and automobiles are expected grant momentous growth to the global gesture recognition market. In terms of Values, the market of gesture recognition was valued at US$11.60 bn in 2015. With growth prospects as excellent as 16.2% CAGR(Compound Annual Growth Rate) between 2015 and 2024. The momentous scale of sales achieved by mobile devices such as smartphones and tablets in the previous decade have made this segment a major contender in the consumer electronics industry, and an important determinant of development of innovative technologies such as gesture recognition. In the near future, the rising demand for mobile devices enabled with innovative gesture recognition features will have a major impact on the overall development of the global gesture recognition market. Increased integration of gesture recognition features in consumer electronics products such as cameras, smart TVs, and multimedia consoles used in automobiles will make consumer electronics one of the most attractive application areas, exhibiting over 14.6% CAGR from 2016 through 2024. The sector is also presently the leading application segment, accounting for a 35.5% share in the global market in 2015.

North America features the presence of some of the largest and dominant technology and optoelectronic companies of the world. Gesture Recognition Market in North America has witnessed a huge influx of investments aimed at the development of 3D and touchless gesture recognition technologies in the past few years and also contributed to the largest revenue share, nearly 35%, to the global market in 2015. Owing to the rising applications of innovative gesture recognition technologies across application areas such as consumer electronics, aerospace and defense, automotive, medical centers, and industrial automation, the North America market is projected to remain a major contributor to the global market. The regional market is expected to expand at a 15.1% CAGR over the said period but witness a slight decline in its share in the global market by 2024. North America, being a mature market in terms of usage and awareness, will lose to a certain extent to Asia Pacific by 2024. A vast consumer base of consumer electronic devices and potential growth opportunities for technologically advanced automobiles, will pave way for gesture recognition technologies in the region.

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