Automotive GRS Market

The Automotive GRS Market is projected to grow at a CAGR of 30.5%, to reach USD 3144.8 million by 2021. The fastest growing trend in the automotive GRS market is the touchless systems market. The demand for automotive GRS has increased because of enhanced user experience and greater comfort. In addition, automotive manufacturers are adopting the GRS system in their vehicle to reduce driver workload and distraction to make their vehicle accident free. However, high price of GRS, and low consumer awareness may hamper the growth of the GRS market to some extent.

Target Audience of Automotive Gesture Recognition Systems Market

  • Automotive component manufacturers
  • Raw material suppliers
  • Automotive manufacturers
  • Distributors and suppliers of automotive components/parts
  • Industry associations and experts

Download PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=7994636

Scope of the Automotive Gesture Recognition Systems Market Report

Automotive Gesture Recognition Systems Market, By Region

  • North America
  • Europe
  • Asia-Pacific
  • RoW

Automotive Gesture Recognition Systems Market, By Authentication Type

  • Hand/finger print/leg recognition
  • Face recognition
  • Vision/iris recognition
  • Others

Automotive Gesture Recognition Systems Market, By Component Type

  • Touch Based System
  • Touchless System

The automotive gesture recognition systems (GRS) market is projected to grow at a CAGR of 30.5%, from USD 829.5 Million in 2016 to USD 3144.8 Million by 2021. The rise in consumer preference for application based technologies and increasing awareness about driver safety and regulations in automobile industry have fueled the growth of the automotive gesture recognition systems market. The increase in demand for autonomous and electric vehicles is also a major factor that will contribute to the growth of the automotive GRS market.

The Hand/ Fingerprint authentication type is estimated to record the largest market size in automotive gesture recognition systems market, by authentication type. Factors such as innovations in technological advancement, and increased safety regulations are prompting the growth of the visual interface market.

The hand/ fingerprint authentication type is the largest market segment, in terms of value, in the automotive GRS market

The hand/ fingerprint segment is the largest market among authentication type segments in the automotive GRS market. This segment is expected to continue its dominance during the forecast period while growing at a high CAGR owing to factors such as increasing trend in ease of communication between the vehicle and the user through gestures. For example, access to navigation and entertainment features using hand and fingerprint gesture controls.

Europe is the largest region in the automotive GRS market

In 2016, the largest regional market for the automotive GRS is the European market. The disposable income is high in developed countries like Germany and UK and the demand for premium as well as comfort features in a vehicle is increasing. The Asia-Pacific market is the fastest growing in terms of value, and is dominated by China, a key market for the automotive GRS in the region. Increasing passenger car production in developing countries in Asia-Pacific such as China and India on the backdrop of positive economy outlook and favouring demographics is one of the major factors contributing to the growth of the Asia-Pacific market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact: 

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441

sales@marketsandmarkets.com

Source:Automotive Gesture Recognition Systems Market Analysis Report