I've been using Hidden Markov Models (HMM) for some time. Now I would like to know about any other statistical model that can prove to be as useful as HMM. For example I was exploiting HMM for gesture recognition. Can other statistical concepts work like HMM, i.e. statistical inference for finding the different parameters such as transition probabilities?
I have heard of Neural Networks and Bayesian statistical inference. Are these concept similar to HMM?