Iris

Unveiling automotive gesture recognition market in terms of the competitive hierarchy: technologically advanced product launches to expedite the industry growth

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Ultrahaptics’ latest launch of a new gesture technology platform, STRATOS, is creating waves of anticipation in automotive gesture recognition market. Incidentally, this platform has the ability to create haptic sensations in mid-air. In the automotive infotainment system, mid-air haptic feedback and gesture recognition technology is collectively used for making the controls more intuitive and safer. In this regard, STRATOS is likely to gain traction in automotive gesture recognition market. The increasing use of high-quality HMI (human machine interface) for reducing easier integration and faster processing modules in automobiles will also majorly boost automotive gesture recognition industry share.

U.S. Automotive Gesture Recognition Market, By Product, 2017 & 2024, (Thousand Units)
U.S. Automotive Gesture Recognition Market, By Product, 2017 & 2024, (Thousand Units)

Considering the functionality benefits of infotainment systems, leading carmakers have been attempting to deploy new and advanced versions of gesture technologies. Some of the accomplishments of leading automakers that have contributed significantly toward product development have been enlisted below:

BMW

In 2015, the well-known luxury carmaker, BMW incorporated a gesture recognition and touchscreen to its next-generation human-machine interface. This highly advanced iDrive up-gradation could also help rear passengers to command infotainment system and control ventilation and positioning through a tablet. In addition, this enhanced technology provides ease of user-friendliness for drivers and passengers to operate infotainment & navigation systems as well as smartphones. In fact, for controlling the entire gesture system, BMW used a camera mounted on the roof, which permits users to control all the features just by rotating their hand in clockwise or anticlockwise directions. In this regard, it is prudent to mention that hand authentication systems will cover over 60% share of automotive gesture recognition industry share by the end of 2024.

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Jaguar Land Rover

The subsidiary of the reputed Indian automotive company, Tata Motors, Jaguar Land Rover, in 2015, collaborated with the start-up firm Ultrahaptics to develop ultrasonic free-space haptic technology. This ultrasonic gesture recognition can be used for the functioning of in-car infotainment systems. The technology creates 3D objects in mid-air so that the driver can track any action very quickly without taking his eyes off the road. The growing acceptance of such haptic control systems by various luxury car manufacturers is poised to push automotive gesture recognition market size.

Continental

The leading German automobile manufacturing company, Continental, had planned to incorporate gesture control in steering wheels in 2016. Currently, in order to operate infotainment systems, drivers are required to take their hands off the wheel. However, with Continental’s new gesture facility, the driver can minimize the distraction and improve passenger safety in a much better manner. Through the deployment of innovative human-machine interface in vehicles, automakers are looking forward to strengthening the intuitive communication between the vehicle and the driver. This new approach of Continental is likely to remove all touch-sensitive surfaces and buttons on the steering wheel. In fact, this design will help vehicle manufacturers to optimize the cost of the steering system. Continuous design innovations and system developments comprising gesture recognition system are thus slated to have a positive influence on automotive gesture recognition industry outlook.

As of now, gesture recognition is one of the upcoming research areas for automotive giants. The leading players in automotive gesture recognition market are continuously working on inventing advanced applications for making interactions convenient, natural, and easy. Automakers have also been prominently involving themselves in automotive gesture recognition industry, which is likely to augment product demand over the years ahead.

Author Name :Sunil Hebbalkar

Rising security concerns to spur biometrics market growth over 2017-2024, IoT, E-commerce, & smartphones to be the major driving trends

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Increasing adoption of technology in the security vertical and the confluence of organizations to meet authentication standards has added a renewed dynamism to biometrics market. With the biometrics technology having marked its presence across the security landscape, it is now rapidly penetrating its way into consumer, government, and industrial systems. Based on the concept of statistical analysis of biological data, the biometrics technology is proclaimed to be less prone to cybercrimes and hacking. Recently, Mexico’s National Banking and Security Commission has announced a new regulation in the country that would require all the banks to deploy fingerprint scanners for the clients by 2018. Another instance is of FacePhi Biometria, where the company is seen signing deals to bring its selfie-based authentication system especially in the financial sector. Similar moves are likely to materialize in the coming years, in turn, propelling biometrics industry size.

U.S. Biometrics Market Size, By Product, 2013 – 2024 (USD Billion)
U.S. Biometrics Market Size, By Product, 2013 – 2024 (USD Billion)

 

Global Market Insights, Inc., claims that biometrics market will exceed USD 50 billion by 2024, having been pegged at USD 12 billion in 2016. High acceptance of biometrics in various verticals such as mobile banking and other financial services has further favored the growth of biometrics market. As the cybercrimes and identification errors are captivating the industry verticals, there has been a significant upsurge in the adoption of biometrics to ensure data security and privacy. Lately, there has been a plethora of fraudulent cases and data breaches in the financial sector. JP Morgan Chase for instance was one of the major victim, where the hackers accessed the critical data of approximately 83 million customers. Such potential threats of data breach have led to greater demand for biometrics technologies in the banking & finance sectors. As per the report, biometrics industry share is set to gain lucrative avenues from banking and finance sector, projected to register a healthy growth rate of 22% from 2017-2024. Apart from this, biometrics industry is also likely to demonstrate noticeable growth in healthcare, transportation, consumer electronics, and defense services. In fact, the transportation application within biometrics market is estimated to be the highest revenue contributor in the coming seven years.

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With the significant expansion of its vast application arena, it is quite evident that biometrics technology is gaining lot of popularity as it works on identification of individuals’ biological information. This technology uses physiological and/or behavioral characteristics of people to authenticate their identity. As every individual is unique, this technology uses separate identifiers such as face recognition, fingerprint, palm veins, hand geometry, DNA, iris recognition, voice and retina. Many companies have adopted these techniques to improve the security features. For instance, Samsung and LG have incorporated iris scanners into their smartphones on a wider scale. The voice recognition technology is also seen gaining considerable traction in the mobile banking and commercial sector. The voice recognition segment of biometrics market is expected to register a CAGR of 22% over 2017-2024, claim estimates.

Over the coming years, biometrics industry is expected to witness several technological advancements that will make authentication more secure and convenient. Below mentioned are the three trends that will strongly influence the industry growth.

Smartphones

Mobile payment is touted as the future of financial transaction and is thus getting incorporated with biometrics to provide a strong security interface. Governments and businesses are vigorously looking for reliable authentication devices such as mobile biometrics to speed up human identification processing, in turn, providing a commendable impetus to biometrics market demand. Such technologies running on personal smartphones are sure to offer biometrics market the opportunity of clocking excellent growth rates in the ensuing years.

E-commerce

With the rapid growth of online shopping, online payment methods are slated to be subject to a lot of threats. The biometrics technology is expected to do wonders in this segment as accessing of user accounts through iris, facial recognition and fingerprints could go long way in ensuring a secure login than regular pins and credentials, validating the contribution of e-commerce in the growth of biometrics industry.

Internet of Things

One of the biggest biometrics market trends to watch for will be the adoption of this technology parallel to the massive expansion of IoT. IoT being the biggest emerging concept for both businesses and consumers undeniably requires a robust security spectrum to protect critical data. In response to this, in the coming years, the global biometrics market will witness a remarkable upsurge with the technology being integrated in a wide variety of IoT applications ranging from smart homes, banking, healthcare, and automotive.

With the advancements and evolution in the tech space, identity management and security are certain to be the top-notch priorities of the businesses. Taking into account this trend, it is unarguable that biometrics industry is set to witness a profound profitability quotient in the ensuing years.

Author Name :Ojaswita Kutepatil