New York, Oct. 31, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Gesture Recognition Market - Growth, Trends and Forecast (2019 - 2024)" - https://www.reportlinker.com/p05778415/?utm_source=GNW
Average funding raised by the companies, particularly, in the field of gesture control is USD 7.8 million.
Canada-based Thalmic Labs manufactured a gesture recognition device that can be worn on the forearm, called Myo. This armband can be integrated with various applications, such as presentations and gaming, or as a controller for drones. In terms of demand, the United States is helping in setting the stage for record sales of the latest consumer electronics. Disposable personal income increased by 1.8% in 2017, and it is likely to increase by more than 2.0%, in 2018. As a result, revenue in the consumer electronics industry is expected to amount to USD 72,443 million in 2018, in the United States.
Competitive Landscape
The Gesture Recognition Market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability.
The companies operating in the market are also acquiring start-ups working on Autonomous Delivery Robots technologies to strengthen their product capabilities. In July 2018, In Beijing, Intel shared a series of collaborations with Baidu on artificial intelligence (AI), including powering Baidu’s Xeye, a new artificial intelligence retail camera with Intel Movidius vision processing units (VPUs).
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Read the full report: https://www.reportlinker.com/p05778415/?utm_source=GNW
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Deep-learning forms a base for gesture recognition. In 2017, the deep learning software market in the region was estimated at USD 80 million and may reach USD 130 million by 2019
Also, in terms of artificial intelligence (taxonomy includes gesture recognition-based products and services providers), the United States occupies the leading position with 415 companies, followed by the United Kingdom with 67 companies, and Canada with 29 companies.
| Source: ReportLinker FR