Advancements in computer science have blessed human lives in numerous ways. Along with saving time in accomplishing different tasks, it has brought comfort in different day-to-day activities. Gesture recognition is one of such advanced technologies that deal with language technology and computer science to interpret human gestures through specific mathematical algorithms. Adoption of advanced technologies is driving the Europe gesture recognition market. Rise in security threats and increasing governmental concerns for safety and security of various countries are pushing the global market for these systems to make remarkable progress. According to the reports, the market will maintain steady growth in European countries for the next four to five years.
Key Takeaways in Gesture Recognition Market of Europe
Europe’s gesture recognition and touchless sensing market is driven by increasing demand for automated security solutions and technological advancements. Another strong driver for the regional growth in the industry is the e-passport program run across different European countries. This program has triggered demand for touchless biometrics in the European Nations. Europe gesture recognition and touchless sensing market is segmented into two basic segments – touchless biometrics and touchless sanitary equipment. The market is further segmented based on the types of products, systems, their deployment, demand in industrial verticals and different countries within Europe.
Apart from the governmental programs and innovative technologies in the industry, growth of the European IT sector is also influencing the current scenario of the industry. Increasing demand for smartphones and tablets is also turning out to be a strong driver for the industry in this region. Rising product launches in OEMs in Asia Pacific have also increasing demand and production in various regions of Europe, especially, Germany, France, UK and Italy. Growth in construction industry of Middle East is also a crucial factor responsible for increasing demand for gesture recognition technology in the industry.
As far as market trends and forecasting reports are concerned, Europe gesture recognition market is estimated to grow at a CAGR of over 62% from 2013 to 2018. During the forecasting period, the market is expected to reach worth more than $1.64 billion by the end of 2018. In 2012, the market was worth $70.28million. As far as the overall European market for gesture recognition and touchless sensing is concerned, it is expected to grow at a CAGR of over 33% during the forecasting period. The overall market will become worth $4.82 billion by 2018. These figures are expected to be a vital opportunity for new investments in the region.