Rampant digitization across the automotive industry is contemplated to be one of the predominant factors driving automotive gesture recognition market. A user-friendly interface with minimal technical complexities makes it easy to access, thereby enabling automotive gesture recognition market to procure strong gains. Moreover, the automotive gesture recognition market is likely to benefit from rising number of customers seeking for application-based vehicle technologies. Governmental implications across several regions for ensuring road safety is also anticipated to invigorate growth of automotive gesture recognition market. As per the meticulous research study on ‘Automotive Gesture Recognition Market’ compiled by Fact.MR for a forecast timespan of 2017 to 2022, the market valued at US$ 1,119.6 Mn and is projected to value approximately US$ 4,239.4 Mn by 2022 end.
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Notable demand from infotainment systems, navigation applications, and multimedia functionalities are envisaged to stimulate further penetration of automotive gesture recognition market. Escalating demand for medium and high-end passenger vehicles across various regions coupled with shifting customer inclination towards technically abreast variants is further poised to spur revenues of automotive gesture recognition market. On the other hand, heavy commercial vehicle manufacturers are less likely to embrace technologies of automotive gesture recognition market in the wake of minimal proximity of vehicles in public utilities.
While cutting down of physical contact in car operations is being focused by manufacturers of automotive gesture recognition market, the report distinctly sheds light on surging demand for touch-based products. Considering the aforementioned contradiction, the report will also emphasize on determinants inclined towards touch-based products in automotive gesture recognition market. Between the forecast timeline, the automotive gesture recognition market revenues obtained from sales of touch-based products are poised to showcase an incremental leap. As a result, the adoption rate of touch-based products is expected to overpower by touchless ones in automotive gesture recognition market.
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Going forward, manufacturers operating in the automotive gesture recognition market are foreseen to be highly focused on revitalization of the existing key recognition technologies by integrating advanced sensors. However, the pricing of products in automotive gesture recognition market with such advancements will eventually rev up. Contrarily, the automakers will be looking for affordable options which will, in turn, limit the growth of automotive gesture recognition market.
Giant auto brands such as BMW, Audi, and many others are slated as prominent adopters of automotive gesture recognition systems. For instance- BMW’s 7-series cars, which is one of the top-selling models across the globe, integrates gesture recognition systems. This sort of realization by the leading automobile brands is anticipated to bolster the revenues of automotive gesture recognition market.
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From a geographical standpoint, the automotive gesture recognition market have flourished across regions such as North America and Europe, thanks to a flourishing automotive ecosystem coupled with seamless accessibility. However, APEJ is anticipated to take over being the supreme one in automotive gesture recognition market. This region is perceived to a highly lucrative one in automotive gesture recognition market, primarily in the light of premier automobile manufacturing hubs such as China, India and South Korea.
The competitive dynamics of automotive gesture recognition market depicts an intensified situation between discrete businesses and product manufacturers. A surging rage for incorporating gesture recognition systems has persuaded multiple companies of to inject high investments in the automotive gesture recognition market. Presently, several multinational companies are vying to make it big in the automotive gesture recognition market.
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In a bid to stay ahead of the curve, manufacturers in automotive gesture recognition market are likely to depict excellent performances owing to rapid revamps in the domain of gesture recognitions. Some of the major companies in the automotive gesture recognition market include Cognitec Systems GmbH, SoftKinetic, Harman International Industries, Visteon Corp., NXP Semiconductors, Synaptics Incorporated, Continental AG, eyeSight Technologies, and Oemk Interactive Ltd.
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