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Automotive Gesture Recognition Market – Growth Opportunities and Challenges 2017-2024

More Information @ Automotive Gesture Recognition Market size was worth over USD 800 million in 2016 and the demand is estimated to exhibit at over 43

Touch based systems

Touch based systems accounted for maximum automotive gesture recognition market share, crossing USD 550 million in 2016 and will continue its dominance over the next eight years. This can be credited to high preference owing to their strong prevalence over the past years. Automotive gesture recognition touchless systems will exhibit substantial growth, exhibiting around 44% CAGR till 2024 owing to provision of advanced features and enhanced user experience delivered by these systems. U.S. Automotive Gesture Recognition Market, By Application, 2016 & 2024, (Units) Automotive Gesture Recognition Industry By Vehicle Passenger cars will dominate the automotive gesture recognition market, generating a demand for over 32 million units over the forecast timeframe. Rising demand from infotainment, navigation and multimedia features in the vehicles will stimulate the industry penetration. Surging demand for medium and high-end passenger vehicle across the globe along with shifting customer preference towards highly advanced variants in given vehicle range will further boost the automotive gesture recognition market from passenger cars. Heavy commercial vehicle manufacturers are less likely to adopt these systems owing to less proximity of vehicles in public utilities. Automotive Gesture Recognition Industry By Application Multimedia/navigation/infotainment application in the automotive gesture recognition market is anticipated to acquire the maximum share of more than 60% by the end of 2024. Automobile OEMs are focusing on improving customer experience with infotainment and navigation systems, primarily driving the demand. Driver distraction can be reduced with easy operability of multimedia in the car with gesture control, supporting the growth of the segment. 2 | P a g e

Growth of door/window opening segment is attributed to vehicle manufacturers focusing on delivering improved functional features in the vehicles. Moreover, increasing driver control over the vehicle to ensure safety will stimulate the demand for the segment. Automotive Gesture Recognition Industry By Authentication Hand/fingerprint authentication is estimated to be the fastest growing segment in the automotive gesture recognition market, exhibiting over 43% CAGR from 2017 to 2024. Its growth is credited to technological advancements in touch sensing along with increasing usage of time of flight (TOF) sensors. Safety regulations focusing on driver safety will boost the product demand. Vision/iris is likely to grow significantly, witnessing more than 41% CAGR owing to rising interest of manufacturers and customers towards installation of these systems. Automotive Gesture Recognition Industry By Region Europe is anticipated to dominate the automotive gesture recognition market, crossing USD 6 billion over the next eight years. High penetration of the premium cars such as BMW 5 and 7 series across the region is expected to primarily support the regional dominance. Established automotive industry with substantial vehicle production is likely to further propel the revenue generation. North America automotive gesture recognition market will exhibit more than 40% CAGR from 2017 to 2024 owing to rising demand for these systems across the region. This high demand is credited to rising R&D investments by OEMs and shifting consumer preference towards advanced vehicle features. Competitive Automotive Gesture Recognition Industry Share Qualcomm Technologies Inc., Continental AG, Visteon Corporation, Harman International, and Cognitec System GmbH are among major companies in automotive gesture recognition market. Other prominent vendors include Gestigon Gmbh, Synaptics Incorporated, Softkinetic International SA, Eyesight Technologies, NXP Semiconductors, and Neonode, Melexis and Jabil. The industry is dominated by few established players, competing to acquire maximum share. High growth potential of automotive gesture recognition market invites new participants, thereby intensifying the competition. Large players are focusing on acquiring or investing in small companies to gain access to latest technologies and increase their foothold. Chapter 9. Company Profiles 9.1. Apple 9.1.1. Business Overview 9.1.2. Financial Data 3 | P a g e

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