Touchless Sensing Market 2019 – 2023: Business Trends, Emerging Technologies, Regional Study, Global Segments, Top Key Vendors and Industry Profit Growth

Touchless Sensing Market 2019 – 2023: Business Trends, Emerging Technologies, Regional Study, Global Segments, Top Key Vendors and Industry Profit Growth

“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 and Touchless Sensing Market Research Report, By Technology (RFID, Camera-Based Technology, Sensors), Product (Touchless Sanitary Equipment, Touchless Biometric)

Touchless Sensing Market Scenario:

Market Research Future (MRFR) in its latest published research report on the global touchless sensing market states that the market is likely to expand at CAGR of 17.3% between 2018 and 2023 and value at USD 18 billion.

Human dependency on technology is increasing. And the rise in the level of their comfort threshold is surging. Hence, touchless sensing, which is an advanced human-machine interaction is gaining popularity across various verticals such as food and agribusiness, healthcare, IT, and others. These factors are identified to surge the global touch sensing market growth.

Benefits of touch sensing such as zero maintenance, low cost, ease of development, reliability, and integration are noted to work in favor of its global market expansion.  In the food and agribusiness industry, the technology is enabling the reduction of cross-contamination in food during their manufacturing plants Touchless Sensing Markettechnology is contributing significantly to the packaging industry by reducing direct human handling activities. The global market of touchless sensing is expected to gain ground owing to these elements.

Gesture recognition and speech or voice recognition are commonly used touchless sensing technologies. Enhance user experience, better digitalization across industries, surge in hygiene concerns are factors that are likely to gain traction for the market. However, the high power consumption can hinder the market exposure.

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Major Key Players:

Major market contender of the global touchless sensing market are Microsoft Corporation (U.S.), Eyesight Technologies Ltd. (Israel), Microchip Technology Inc. (U.S.), Qualcomm Inc. (U.S.), Intel (U.S.), CogniVue Corporation, (Canada), Elliptic Labs Inc., (Norway), Crossmatch (U.S.), NXP Semiconductors (Netherland), InvenSense (U.S.), and others.

Market Trends:

Soli, the latest sensing technology introduced by Google, to detect touchless gesture interactions uses miniature radar over conventional visible. Radar detects and tracks human hand motion with high accuracy and at high speeds. This technology is eyed as a new opportunity for the touchless sensing market.

Segmental Outline:

The global touchless sensing market has been segmented by product, industry, and technology.

  • The By industry, the market has been segmented into banking, automotive, consumer electronics, financial services and insurance (BFSI), healthcare, government, and others.
  • By product, the market has been segmented into touchless sanitary equipment, touchless biometric, and others.
  • The touchless sanitary equipment segment has been sub-segmented into touchless faucets, hand dryers, touchless towel dispensers, touchless soap dispensers, and touchless trashcans. By technology, the market has been segmented into camera-based technology, radio-frequency identification (RFID) technology, sensors, voice assistance, and others.
  • The sensors segment have been classified into image sensors, proximity sensors, infrared sensors, and others. The touchless biometric segment has been classified into face recognition system, iris recognition, voice recognition, and touchless fingerprint recognition.

Regional Outlook:

By region, the market has been studied across North America, Europe Asia Pacific and the Rest of the World (RoW). Europe projected to hold the largest share of the global market due to favorable initiatives availed by the government. The increase in hygiene standards in the region is another factor that can fuel the regional market growth.

North America to be the second largest market in the coming years. Organizations in the North America are adopting upgraded and new technologies with the increase in the prevalence of digital business strategies. The existence of major solution providers in the region is expected to boost the regional market.

The Asia Pacific is likely to gain global foothold. The high growth potential of developing economies to provide a favorable environment for product manufacturers can boost the APAC market.  The market in India, China, and Japan can witness profound growth in the near future.

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

Table 4 Asia Pacific Touchless Sensing Market: By Country, 2018-2023

Table 5 The Middle East & Africa 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

Figure 4 Value Chain of Global Touchless Sensing Market

Figure 5 Share of Touchless Sensing Market In 2018, By Country (In %)

Continued…

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