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Global Touchless Sensing Equipment market 2016- Industry to grow at a CAGR of 10.22% over forecast period 2016-2020

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Published on : Sep 27, 2016

ALBANY, New York, September 27, 2016: ResearchMoz.us has announced the addition of a new report to its market research reports repository. The report is titled, “Global Touchless Sensing Equipment Market 2016-2020.” The report presents a comprehensive analysis of the historical growth trajectory coupled with the present scenario, and future prospects for the growth of the global touchless sensing equipment market. 

Additionally, the report provides information about the revenue and volume growth projected for the different segments and regions. The study also presents an analysis of the competitive landscape in the global touchless sensing market along with the strategies, product description, and shares of the companies operating in the market. The report takes into consideration the revenue generated from unit shipments of touchless sensing equipment. 

According to the report, the growth of the global touchless sensing equipment market can be attributed to the rising deployment of voice recognition technology in portable devices and other electronic devices. The report states that the global touchless sensing equipment market is projected to rise at a 10.22% CAGR from 2016 to 2020. The growing adoption of sanitary ware embedded with touchless sensors is anticipated to push the sales of touchless sensing equipment globally. 

The increasing applications of voice recognition technology in smartphones, automotive voice recognition, voice biometrics, and automatic speech recognition are anticipated to take the global touchless sensing market towards healthy growth over the next couple of years. To prevent accidents, governments of several countries across the world have imposed strict regulations on the use of mobile phones while driving. As a result of this, the deployment of voice recognition technology is increasing significantly in smartphones.

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It is being observed that the implementation of advanced authentication processes in the mobile banking sector are expected to enhance the deployment of touchless sensing equipment across the globe. The increasing demand for voice recognition equipment and other touchless sensing technologies such as iris recognition and facial recognition devices has impelled manufacturers to shift their focus towards the advancement of the technology used in touchelesss sensing equipment. Companies are also focusing on increasing their production capacity to meet the growing demand for touchless sensing equipment. 

Based on technology, the voice recognition segment emerged dominant in 2015 accounting for a share of 77% in the global touchless sensing equipment market. Factors such as the rising demand for touchless authentication systems from government organizations, healthcare enterprises, and financial institutions and rising investments by several countries in the touchless biometric technology segment are likely to contribute to the growth of the global touchless sensing equipment market.

Geographically, the Americas is projected to maintain a lead in the global touchless sensing equipment market with a share of 39% by the end of 2020. The leading players in the global touchless sensing equipment market are Nuance Communications, ValidSoft, Grohe, Jaquar, Kohler, Toto, 3M Cogent, BioEnable, Crossmatch Technologies, and Iris ID among others. 

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