#Global #Touchless #Sensing #Market #Reach #Billion
Portland, OR, Oct. 06, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global touchless sensing market generated $9.4 billion in 2021, and is estimated to reach $46.5 billion by 2031, manifesting a CAGR of 17.5% from 2022 to 2031. The report provides a detailed analysis of changing market dynamics, value chain, top segments, and competitive landscape. This report offers extensive information to assist market players, investors, stakeholders, and startups in devising strategies to maintain sustainable growth and avail competitive advantage in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $9.4 billion |
| Market Size in 2031 | $46.5 billion |
| CAGR | 17.5% |
| No. of Pages in Report | 260 |
| Segments covered | Product, Technology, End-Use Industry, and Region. |
| Drivers | Surge in demand for contact-free sensing |
| Rise in demand for touchless sensing technologies in smartphones | |
| Opportunities | Rise in digitalization across different industries |
| Surge in the use of IoT-enabled biometric products for security purposes | |
| Restrains | High cost of maintenance, power consumption, and initial cost associated with touchless sensing equipment |
Covid-19 Scenario:
- Increase in investments in internet of things (IoT)-enabled devices such as touchless doors and digital kiosks in public transport and retail stores led to the growth of the touchless sensing market during the Covid-19 pandemic.
- On the other hand, the market was severely impacted by different obstacles such as a lack of availability of skilled workforce, supply chain disruptions, and delay or cancelation of projects with the implementation of partial or complete lockdown in different countries globally.
- The demand for touchless sensing technologies rose…
Read on GNW: Global Touchless Sensing Market to Reach $46.5 Billion by
