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Touch Sensor Market: Outlook 2027
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Touchless sensing is able to sense the presence of humans within a certain area with the help of sensors. It enables scanning of biometric images for allowing authorized entry of personnel. It has applications in airports, railways, shopping malls, and toilets. The global touchless sensing market report by Market Research Future (MRFR) addresses the outbreak of the COVID-19 virus and forecast of size and growth by assessing drivers, restraints, and opportunities for the period of 2018 to 2023 (forecast period).
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Market Scope
The global touchless sensing market is expected to reach approximately USD 18 billion by 2023 growing at 17.3% CAGR over the forecast period, according to MRFR. Increased digitalization across industries and enhanced user experience are major drivers of the market. Developments in human machine interface and integration of the technology in latest consumer electronic devices can propel the market demand.
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https://www.marketresearchfuture.com/reports/touch-sensor-market-897Concerns over hygiene and demand for contact-free sensing can influence the market demand significantly. Inclination towards smart healthcare and education is an indicator of the large scope of gesture recognition devices. The use of 2D images for recognizing gestureless interactions can be used in tracking the motion of the hand. Infrared sensors can sense thermal radiation emitted by humans. The COVID-19 pandemic has highlighted the need for contactless panels for providing authorization to employees or essential workers to floors without fear of spreading the virus.
Lack of awareness, high product cost, and replacement costs are factors that can impede market growth.
Segmentation
On the basis of technology, the market is segmented into voice assistance, RFID technology, camera-based technology, sensors, and others. Sensors are sub-segmented into proximity & infrared sensors, image sensors among others.
By product, the market is segmented into touchless biometric, touchless sanitary equipment, and others. Touchless biometric is sub-segmented into face recognition system, touchless fingerprint recognition, iris recognition, and voice recognition. On the other hand, touchless sanitary equipment is sub-segmented into touchless towel dispensers, touchless faucets, touchless soap dispensers, touchless trashcans, and hand dryers. Among the products, the touchless biometric devices may witness renewed demand owing to the shortcomings of fingerprint technology.
By industry, the market is segmented into automotive, consumer electronics, government, BFSI, healthcare, and others. The automotive industry can contribute to the global touchless sensing market owing to its use in lowering distractions and the alarming rate of accidents. Gesture recognition can improve vehicle safety and allow the driver to focus on the road.
Regional Analysis
Europe is anticipated to capture the largest share in the touchless sensing market owing to favorable initiatives taken by the government towards hygiene standards. People of countries such as the U.K., Spain, and France and their belief in high hygiene can drive the adoption of the technology.
North America is the second largest market. The organizations in North America are shifting towards new and upgraded technologies with the increasing adoption of digital business strategies. The presence of major solution providers of touchless sensing in North America is driving the market growth.
Asia Pacific is expected to grow with the highest CAGR during the forecast period. Countries such as China, Japan, and India have a huge growth potential and provide a favorable environment for product manufacturers. Demand for gesture-driven products such as TVs and smartphones can drive the market demand in the region.
Competitive Outlook
Elliptic Labs Inc., NXP Semiconductors, Intel, Qualcomm Inc., InvenSense, Microsoft Corporation, Crossmatch, CogniVue Corporation, Microchip Technology Inc., and Eyesight Technologies Ltd. are prominent players of the global touchless sensing market. Recently, Xiaomi has collaborated with Elliptic Labs for improving its gesture recognition technology for its smartphone users.
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