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.
GET A FREE SAMPLE
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
ESOMAR certified & member
Leading SME award by D&B
We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.
"The quality of research they have done for us has been excellent."
The exponential spread of COVID-19 worldwide has had an adverse impact on the semiconductor industry with manufacturing facilities temporarily shut, leading to a significant slowdown in the production. The outbreak could result in disruption across the ecosystem with several supply chain participants shifting their production facilities outside China, thereby reducing their over-reliance on China. Lockdowns imposed by the governments in the wake of the Covid-19 outbreak has not only affected manufacturing but also hauled consumer demand for semiconductor devices. Our analysts predict a decline in semiconductor revenue by over 1% in 2020 as compared to that in 2019. The report will account for Covid19 as a key market contributor.
We value your investment and offer free customization with every report to fulfil your exact research needs.