Automotive Gesture Recognition System (AGRS) Market Revenue Growth, Forecast Till 2028

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Increasing sales of electric and autonomous/self-driving vehicles and rising disposable incomes of the population are among the key market growth drivers

The Automotive Gesture Recognition System Market intelligence report further offers hard to find data derived from attractiveness analysis that narrates a lot about the products, regions and applications expected to generate more revenue. The research study sheds light on the key growth opportunities and market trends along with other vital market dynamics, including the drivers and restraints on the industry growth. With this report, the prospective buyers can be sure to become capable of adapting to the changes in the Automotive Gesture Recognition System industry.

The automotive gesture recognition system (AGRS) is a built-in automotive device that interprets human commands in the form of hand movements or gestures. These systems are available in both touch-based and touchless user interfaces, and they use inputs to operate other automotive electronic devices to reduce the driver’s distraction while driving and thus increase their safety and comfort. These systems are generally used for in-car multimedia, infotainment, and navigation-based devices.

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Some Key Highlights in the Report:

  • Among component type segments, the touchless systems segment acquired the largest revenue share in the global automotive gesture recognition system (AGRS) market in 2020. Growing demand for touchless AGRS for the next-level driving experience and significant technological advancements in touchless displays such as ToF (time-of-flight) imagers and high-performance sensors are among the key factors contributing to the growth of this segment.
  • Based on application, the multimedia/infotainment/navigation segment is expected to register the fastest revenue growth rate over the forecast period, owing to some favorable factors. Rising demand for luxury cars with high-end built-in infotainment and multimedia systems, increasing purchasing power of consumers – mainly in developing countries of the world – and rising need for a safer and more comfortable driving experience are the key factors driving this segment’s growth.
  • Europe was the leading regional market for automotive gesture recognition system (AGRS) in 2020, with the fastest revenue growth. Factors contributing to the revenue growth of this regional market are high per capita income, increasing sales of luxury and autonomous cars, rapid integration of automotive gesture recognition systems in vehicles, and stringent government regulations for automotive safety. Another major factor driving the Europe market growth is the presence of some of the leading industry players including Continental AG, SoftKinetic, NXP Semiconductors N.V., and Cognitec Systems in the region.
  • The Asia Pacific automotive gesture recognition system (AGRS) market is expected to register a robust CAGR during the forecast period, owing to factors such as rising number of car accidents and road mishaps, increasing road safety concerns, and rapid adoption of the gesture recognition technology in the automotive industry.
  • Some of the top companies operating in the global automotive gesture recognition system (AGRS) market include Continental AG, Harman International Industries, SoftKinetic, Synaptics, uSens Inc., Visteon Corporation, NXP Semiconductors N.V., Samsung Electronics Co. Ltd., Sony Corporation, Omek Interactive Ltd., Qualcomm Technologies Inc., Cipia Vision Ltd. (formerly Eyesight Technologies), Cognitec Systems, and Neonode Inc.
  • In March 2020, renowned German company Elmos Semiconductor AG signed a cooperation agreement with consumer electronics giant Samsung Electronics for the manufacture of automotive integrated circuits (ICs) in Samsung’s state-of-the-art production facilities. With this deal, Elmos looked to strengthen its Fablite manufacturing strategy and develop cutting-edge automotive technologies. Elmos specializes in semiconductors and sensors for automotive safety controls.

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 Additionally, the report gives two distinct market forecasts, one from the perspective of the producer and another from that of the consumer. It also offers valuable recommendations for new as well as established players of the global Automotive Gesture Recognition System market. It also provides beneficial insights for both new as well as established players of the global Automotive Gesture Recognition System market.

Segmentation:

Authentication Type Outlook (Revenue, USD Million; 2018–2028)

  • Face Recognition
  • Hand/Finger Print/Leg Recognition
  • Vision/Iris Recognition
  • Others

Component Type Outlook (Revenue, USD Million; 2018–2028)

  • Touch-based Systems
  • Touchless Systems

Application Outlook (Revenue, USD Million; 2018–2028)

  • Multimedia/Infotainment/Navigation
  • Lighting Systems
  • Others (gear shifting, door and window opening/closing, etc.)

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Regional Overview:

The global Automotive Gesture Recognition System Market   has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East Africa. It evaluates the presence of the global Automotive Gesture Recognition System Market  in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.

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Finally, all aspects of the Automotive Gesture Recognition System market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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