Automotive Gesture Recognition System (AGRS) Market Forecast | Demand, Key participants, Region, Share, Scope Analysis

Posted on 16 August, 2023 by imona

The report also discusses in detail the recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government deals, and partnerships, among others. The report also sheds light on the recent technological developments and product advancements in the Automotive Gesture Recognition System market. The competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans.

The Automotive Gesture Recognition System Market is a rapidly growing segment in the automotive industry, driven by advancements in technology and the desire for safer, more convenient driving experiences. The system uses sensors and cameras to detect and interpret hand and finger movements, allowing drivers to control various functions of the car without taking their hands off the steering wheel.

One of the key drivers of the market is the increasing demand for safer and more efficient driving experiences. With the rise of distracted driving and the need to reduce the number of accidents caused by it, automakers are increasingly turning to gesture recognition technology as a solution. By enabling drivers to control various functions without taking their eyes off the road, gesture recognition systems can greatly improve safety and reduce the risk of accidents.

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Some Key Highlights in the Report:

• Europe was the leading regional market for automotive gesture recognition system (AGRS) in 2020, with the fastest revenue growth. Factors contributing to the revenue growth of this regional market are high per capita income, increasing sales of luxury and autonomous cars, rapid integration of automotive gesture recognition systems in vehicles, and stringent government regulations for automotive safety. Another major factor driving the Europe market growth is the presence of some of the leading industry players including Continental AG, SoftKinetic, NXP Semiconductors N.V., and Cognitec Systems in the region. 
• The Asia Pacific automotive gesture recognition system (AGRS) market is expected to register a robust CAGR during the forecast period, owing to factors such as rising number of car accidents and road mishaps, increasing road safety concerns, and rapid adoption of the gesture recognition technology in the automotive industry. 
• Some of the top companies operating in the global automotive gesture recognition system (AGRS) market include Continental AG, Harman International Industries, SoftKinetic, Synaptics, uSens Inc., Visteon Corporation, NXP Semiconductors N.V., Samsung Electronics Co. Ltd., Sony Corporation, Omek Interactive Ltd., Qualcomm Technologies Inc., Cipia Vision Ltd. (formerly Eyesight Technologies), Cognitec Systems, and Neonode Inc.
• In March 2020, renowned German company Elmos Semiconductor AG signed a cooperation agreement with consumer electronics giant Samsung Electronics for the manufacture of automotive integrated circuits (ICs) in Samsung’s state-of-the-art production facilities. With this deal, Elmos looked to strengthen its Fablite manufacturing strategy and develop cutting-edge automotive technologies. Elmos specializes in semiconductors and sensors for automotive safety controls.

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Additionally, the report gives two distinct market forecasts, one from the perspective of the producer and another from that of the consumer. It also offers valuable recommendations for new as well as established players of the global Automotive Gesture Recognition System market. It also provides beneficial insights for both new as well as established players of the global Automotive Gesture Recognition System market.

Segmentation:

Authentication Type Outlook (Revenue, USD Million; 2018–2028)

• Face Recognition
• Hand/Finger Print/Leg Recognition
• Vision/Iris Recognition
• Others

Component Type Outlook (Revenue, USD Million; 2018–2028)

• Touch-based Systems
• Touchless Systems
• Application Outlook (Revenue, USD Million; 2018–2028)
• Multimedia/Infotainment/Navigation
• Lighting Systems
• Others (gear shifting, door and window opening/closing, etc.)

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Regional Overview:

The global Automotive Gesture Recognition System Market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Automotive Gesture Recognition System Market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.

Benefits of Purchasing Global Automotive Gesture Recognition System Market Report:

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Finally, all aspects of the Automotive Gesture Recognition System market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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