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Touchless Sensing Market 2019 Business Profit Overview, Top Key Players, Growth Analysis and Industry Segments by Forecast to 2023

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Touchless Sensing Market 2019 Business Profit Overview, Top Key Players, Growth Analysis and Industry Segments by Forecast to 2023

August 28
12:54 2019
Touchless Sensing Market 2019 Business Profit Overview, Top Key Players, Growth Analysis and Industry Segments by Forecast to 2023

Touchless Sensing Market
Global Touchless Sensing Market is expected to reach approximately USD 18 Billion by 2023 growing at a ~17.3% CAGR over the forecast period 2018–2023

Touchless Sensing Market Scenario:

Touchless sensing technology has its application in various industries like healthcare, food and agribusiness, IT and others due to the benefits it offers such as low cost and zero maintenance, reliability, ease of development and integration. In food and agribusiness industry, touchless sensing helps in reducing cross-contamination in the food processing plant. The product overhead can be reduced by eradicating direct human handling during the packaging process. Additionally, as the name suggests, the implementation of touchless sensing technology remedies the hygiene concerns to a considerable extent.

Touchless sensing is a software-dependent and advanced form of human-machine interaction, where the user can control and monitor devices through contactless modes. This technology is incorporated into mobile phones, tablets, PDAs and other computer-enabled devices.

Most commonly used Touchless Sensing Market technologies are gesture recognition and speech/voice recognition. In gesture recognition, finger and hand gesture movements allow user interaction with machines, with no physical contact with digital devices. The market for touchless sensing is expected to grow in order to enhance user experience and ease of use, increasing digitalization across industries. Also, the increasing hygiene concerns are contributing substantially to the growth of touchless sensing market. However, the absence of haptic sensation and high power consumption may hamper the growth of touchless sensing market.

Soli is a new sensing technology by Google that uses miniature radar to detect touchless gesture interactions. It does not use conventional visible or even infra-red 2D images, instead, it uses radar for motion tracking of the human hand. These sensors track sub-millimeter motion at high speeds with high accuracy. This allows people to control devices with a simple, universal set of gestures. This technology can be a new opportunity for touchless sensing market.

The global touchless sensing market is expected to reach approximately USD 18 Billion by 2023 growing at a ~17.3% CAGR over the forecast period 2018–2023.

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Major Key Players:

The key players in the global touchless sensing market include CogniVue Corporation (Canada), Crossmatch (USA), Elliptic Labs Inc. (Norway), Eyesight Technologies Ltd. (Israel), Microchip Technology Inc. (USA), Microsoft Corporation (USA), Intel (USA), InvenSense (USA), NXP Semiconductors (Netherlands), and Qualcomm Inc. (USA). 

Regional Study:

The regional segmentation of the global touchless sensing market segments the market into continent-based regional markets known as North America, Europe Asia Pacific and the rest of the world (RoW). According to the report, Europe is expected to hold the largest share during the forecast period due to the favorable initiatives were taken by the governments of various European countries towards hygiene standards. The most important country-specific markets in Europe are France, Germany, Italy, Spain, and the United Kingdom (UK).

North America is the second largest market. The organizations in this region are shifting towards new and upgraded technologies with the increasing adoption of digital business strategies. The presence of a major solution provider of touchless sensing (key market players) in North America is also boosting the market growth in this region. The significant country-specific markets in this region are the United States of America (USA), Canada, and Mexico.

The Asia Pacific is expected to emerge as the fastest growing market during the forecast period because the growth potential of developing countries can provide a favorable environment for product manufacturers. The major country-specific markets in this region are China, India, and Japan, followed by the rest of the Asia Pacific region.

The RoW segment covers the Middle East & Africa (MEA) and Latin America. In Latin America, Argentina and Brazil have strong economies, and they might emerge as big markets in the future. The MEA region shows limited market slow and steady growth. The reasons for the slow market growth in this region are lack of awareness, lack of education, lack of technological development, political instability.

 

Latest Industry News:

  • Twenty Billion Neurons GmbH, a leading provider of real-time, artificial intelligence (AI) solutions and interactive computer vision, has announced a $10 mn Series A funding round, led by M12, Microsoft’s venture fund, with participation from Coparion, Creative Edge, and MFV Partners. 26 SEP 2018
  • Microsoft has won a patent for a future surface tablet called Surface Go that could support touchless input & recognize hand gestures. 11 JUL 2018      

Target Audience:

  • Component and equipment suppliers
  • Original equipment manufacturers (OEMs)
  • Original design manufacturers (ODMs)
  • Installers and maintenance service providers
  • Research organizations
  • Component integrators
  • Technology providers

Table of Contents

1 Executive Summary

2 Scope of The Report

2.1 Market Definition

2.2 Scope of The Study

2.2.1 Research objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

Continued…

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List of Tables

Table 1 Touchless Sensing Market: By Region, 2018-2023

Table 2 North America Touchless Sensing Market: By Country, 2018-2023

Table 3 Europe Touchless Sensing Market: By Country, 2018-2023

Continued…

List of Figures

Figure 1 Global Touchless Sensing Market Segmentation

Figure 2 Forecast Methodology

Figure 3 Porter’s Five Forces Analysis of Global Touchless Sensing Market

Continued…

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