Touchless Sensing Market Size, Share & Trends Analysis Report By Product, By Technology, By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025

The global touchless sensing market is estimated to experience considerable growth over the forecast period owing to increasing demand from end-use industries such as banking and finance. The market ecosystem is being altered by factors such as growing adoption of OEMs and evolving technology. Owing to accuracy of the next generation systems, the demand for touchless sensing equipment is expected to have a high growth rate over the next six years. In comparison to the touch-based sensing equipment, touchless sensing equipment has better hygiene and more reliability.

The touchless sensing market provides a number of opportunities for new entrants as well as existing players in the form of high quality. The escalating demand for touchless sensing technologies in smartphones is expected to attract the customers. Growing demand for contact-free sensing as well as hygiene issues is expected to drive the market. Growing demand towards smart education, and healthcare applications along with low cost deployable devices are the factors that would propel market growth over the next six years.

2D camera-based technology is estimated to have better adoption chances in comparison to 3D time of flight-based technology over the forecast period. Substantial number of shipments is expected to be witnessed in the 3D time-of-flight cameras over the next six years. Owing to various factors such as ease of integration, flexible design, high efficiency, and low prices, the touchless sensing market is anticipated to have a high growth rate over the forecast period.

Market growth is expected to be inhibited owing to plunging consumer electronics industry. The touchless sensing market faces challenges such as replacement costs, user resistance, and high initial cost of the product which are expected to hamper market growth over the next six years. The market may witness certain restraints such as higher switch over price coupled with lack of awareness.

Major application areas of the touchless sensing market include consumer electronics, government, transportation, automotive, finance & banking, and healthcare. The generated energy in the touchless sensing industry has wide scope in various sectors such as commercial, residential, and industrial sectors. Decentralization from grid network is expected to be a key driver for the market over the forecast period.

The touchless sensing market can be categorized on the basis of technology, application, and product. On the basis of technology, the market is divided into infrared sensors and captive sensors, which further includes thin film, C-Si as well as DSC technology. On the basis of application, the market can be categorized into touchless biometric and sanitary equipment. The touchless sensing sanitary equipment further includes faucets, touchless dispensers, trashcans, flushes, and hand dryers. Iris recognition, voice recognition, touch-less fingerprint recognition, and face recognition system are included under touchless biometrics. Touchless sanitary equipment is estimated to find application in residential sector over the next six years.

The touchless sensing market can be segmented on the basis of product into curtain wall, rooftop, and windows. Rooftop products are expected to account for a major market share owing to first generation technology. Curtain wall products are estimated to cater to a large market segment due to enhanced barrier and low maintenance characteristics. The demand for both rooftop products as well as curtain wall products is expected to escalate the demand for touchless sensing market.

North America is expected to be the dominant regional market for both sanitary equipment and touchless biometric products; followed by Europe. The touchless sensing market is estimated to be dominated by the U.S. for both touch-less equipment and sanitary equipment. Key vendors in the market include Intel Corporation, Qualcomm, NVidia, Microchip Technologies and Texas Instruments, Microchip Technology Inc., Movea SA, Pebbles Limited, Omek Interactive, Morphotrak, and Microsoft Corporation.