According to a market report by Lucintel, the future of the global 2D gesture recognition market looks promising with opportunities in the automotive, consumer electronic, banking financial service and insurance (BFSI), and government applications. The global 2D gesture recognition market is expected to reach an estimated $0.66 billion by 2028 with a CAGR of 18.1% from 2023 to 2028. The major drivers for this market are increasing usage of this technology for training and examining in the medical sector, rising demand for this device in the automotive industry to improve driver’s safety and to provide overall control over in-vehicle systems along with growing consumer interest for gesture sets that can be customized to allow for more personalized interactions and gesture recognition systems.
In this market, hardware, camera, touchless system, software, application, service, integration, and support are the major segments of 2D gesture recognition market by product type. Lucintel forecasts that camera is expected to witness highest growth over the forecast period due to the increasing use of video cameras as vision sensor for gesture recognition and growing adoption of camera-based identification technology in automated touch-screen devices for residence.
Within this market, BFSI segment will remain the largest segment due to the increasing usage of 2D gesture recognition technology to reduce the probability of fake transaction attempts with embedded chips or sensors so as to improve mobile payment security.
North America will remain the largest region over the forecast period due to the existence of key technology and solution providing vendors and widespread adoption of 2D gesture recognition technology among various end use industries, like consumer electronics and automotive sectors of the region.
Intel, Cognitec Systems, ArcSoft, Qualcomm Technologies, Thalmic Labs, Microchip Technology, and Advanced Micro Devices are the major suppliers in the global 2D gesture recognition market.
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