Artificial Intelligence
Gesture Controlled Robots Demand Rising at a CAGR of 14.3%, Will Reach USD 5.8 Billion Due to Increasing Digitalization: Fact.MR Study
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Rockville, Feb. 28, 2023 (GLOBE NEWSWIRE) — The market for gesture controlled robot is anticipated to reach US$ 1.5 billion in 2023 and grow at a healthy 14.3% CAGR between 2023 and 2033. In the upcoming years, it is anticipated that the market will grow more rapidly due to important factors like innovative human and machine interaction research and advanced field research.
The most intelligent method of interacting between people and computers is considered to be gesture controlled robots. The gesture controlled robotic system is used in consumer electronics and medical therapies. The gesture controlled robot industry is experiencing significant growth due to rising personal disposable income, numerous technological advances, and the growing popularity of artificial intelligence (AI).
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Gesture controlled technology is heavily influenced by recent advances in computer science and language technology. Moreover, recent advancements in computer algorithms have helped simplify the process of human-machine interaction, boosting the growth of the industry during the forecast period. Moreover, increasing interest in implementing digitalization in various industry segments such as transportation, consumer electronics, and healthcare is projected to drive the growth of the overall market.
Key Takeaways from Market Study
- The global gesture controlled robot market is projected to reach US$ 5.8 billion by 2033.
- The market witnessed 8.1% CAGR between 2018 and 2022.
- Touchless gesture controlled robot in technology segment dominates the market with 71.9% market share in 2023.
- Under end use industry, healthcare holds a strong position in the market and is valued at US$ 439.4 million in 2023.
- Based on region, demand for gesture controlled robot expected to increase at CAGR of 14.9% in East Asia during the forecast period.
Market Development
Increased competition in the market has led to numerous mergers and acquisitions, which have contributed to the growth of the market in recent years. The increasing adoption of gesture recognition systems in electronic devices and Internet of Things (IoT) systems is due to their easy access and convenience during operation, resulting from the expanding market.
The growth of the market is ought to provide ample opportunities for market players to invest in market research and development. The market for gesture controlled robot will grow positively over the time period as gesture controlled robot are turning out to be more advanced in the coming years.
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Competitive Landscape
These leading players of gesture-controlled robots are always coming up with new, innovative technologies to meet the current challenges of component placement in the intricate environments. In the market for gesture controlled robots, some well-known players have implemented inorganic strategies such as competitive pricing, and others. Technologically advanced robots and their accessories are in high demand, which enables market participants to broaden their product lines.
Key Companies Profiled
- ADROITZZ
- Hammacher Schlemmer & Company, Inc.
- HID Global Corporation
- Infineon Technologies AG
- Microchip Technology Inc.
- Microsoft
- Seeed Studio
- Sparkfun
Segmentation of Gesture Controlled Robot Industry Research
- By Type:
- Stationary Arm
- Mobile
- Wheeled
- Tracked
- By Technology:
- Touch Based
- Touchless
- By Application:
- Packaging
- Palletizing
- Material handling
- Painting
- Welding
- Assembly
- Inspection
- Cutting
- Dispensing
- By End Use Industry:
- Aerospace and Defense
- Automotive
- Chemicals & Materials
- Electrical & Electronics
- Food and Beverage
- Healthcare
- Mining & Oil & Gas
- Retail & e-Commerce
- Logistics & Warehousing
- Packaging
- Others
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East and Africa
Key Questions Covered in the Gesture Controlled Robot Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will sales in the global Gesture Controlled Robot Market grow until 2033?
- Which are the factors hampering the Gesture Controlled Robot market?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Gesture Controlled Robot Market during the forecast period?
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global gesture controlled robot market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of type, (stationary arm, mobile (wheeled, tracked)), technology, (touch based, touchless) application, (packaging, palletizing, material handling, painting, welding, assembly, inspection, cutting, dispensing), end use industry, (aerospace and defense, automotive, chemicals & materials, electrical & electronics, food and beverage, healthcare, mining & oil & gas, retail & e-commerce, logistics & warehousing, packaging, others) and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East Africa).
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