Increased demand for cost-effective gesture recognition solutions has resulted in the moderate growth of the Global Gesture Recognition Market in Automotive Sector, which is expected to post a CAGR of 12.8 percent from 2014-2018, says research firm TechNavio.
The input devices used in gesture recognition solutions include cameras and software, which are available at a very low cost. With a number of technological advancements, the costs of such devices are decreasing significantly, which reduces the overall cost of ownership of gesture recognition solutions. This has led to an increased adoption of these devices among end-users.
“Original equipment manufacturers are incorporating gesture recognition solutions into their devices, which is expected to drive the growth of the market in the coming years,” says Faisal Ghaus, Vice President of TechNavio.
The new TechNavio report emphasizes the increasing number of partnerships in the market. Many companies are solely involved in the development of gesture recognition technology and devices. Automobile vendors are currently focusing on building partnerships with such vendors to implement gesture recognition capabilities in their products.
“Toyota has been in a partnership with Microsoft for three years and they are focusing on developing gesture recognition capabilities for Toyota vehicles using Microsoft's patent technology,” says Ghaus.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
- • Global 2D Gesture Recognition Market 2015-2019
- • Global Gesture Recognition Market 2014-2018
TechNavio is a leading global technology research and advisory company.
Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
Source : businesswire.com