Global Affective Computing Market, By Technology (Touch-Based, Touchless), Components (Software and Hardware), Software (Speech Recognition, Gesture Recognition, Facial Feature Extraction, Analytics Software, Enterprise Software, Others), Hardware (Sensors, Cameras, Storage Devices and Processors, Others), Vertical (Academia and Research, Media and Entertainment, Government and Defense, Healthcare and Life Sciences, IT and Telecom, Retail and E-Commerce, Automotive, Banking, Financial Services, and Insurance, Other Verticals), and Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa) Industry Trends and Forecast to 2028
The affective computing market is expected to witness market growth at a rate of 40.01% in the forecast period of 2021 to 2028. Data Bridge Market Research report on affective computing market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The rise in the adoption of advanced electronic devices bodes well is escalating the growth of the affective computing market.
The affective computing platform allows a computational device to sense and replies in real-time through artificial emotion AI or emotional intelligence, a customer's non-verbal emotional cues, utilizing video, physiology, gesture and moment and other behaviors communicate to the interface.
Major factors that are expected to boost the growth of the affective computing market in the forecast period are the rise in the demand for telehealth-related affective computing solutions and the increase in the need for socially intelligent artificial agents. Furthermore, the rise in the acceptance of wearable devices and the increase in the internet penetration around the industry verticals, and the growth of the technological advancements around the world is further anticipated to propel the growth of the affective computing market. Moreover, the increasing demand for high operational excellence augmented resource utilization, and improved productivity is further estimated to cushion the growth of the affective computing market. On the other hand, the rise in the production cost of affective computing systems and the gap between academic research and real-life applications is further projected to impede the growth of the affective computing market in the timeline period.
In addition, the increase in the preference towards the industry-specific solutions and the growth of the initiatives taken by the government to leverage the advantages of emotion AI/affective computing technology, the rise in the acceptance of cloud-based applications and services, and the accelerating number of partnerships and widening ecosystems will further provide potential opportunities for the growth of the affective computing market in the coming years. However, the complicated systems for emotion recognition might further challenge the growth of the affective computing market in the near future.
This affective computing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the affective computing market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Affective Computing Market Scope and Market Size
The affective computing market is segmented on the basis of technology, components, software, hardware, and verticals. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of technology, the affective computing market has been segmented into touch-based and touchless.
- On the basis of components, the affective computing market has been segmented into software and hardware.
- On the basis of software, the affective computing market has been segmented into speech recognition, gesture recognition, facial feature extraction, analytics software, enterprise software, and others.
- On the basis of hardware, the affective computing market has been segmented into sensors, cameras, storage devices and processors, and others.
- On the basis of vertical, the affective computing market has been segmented into academia and research, media and entertainment, government and defense, healthcare and life sciences, IT and telecom, retail and e-commerce, automotive, banking, financial services, and insurance and other verticals.
Affective Computing Market Country Level Analysis
The affective computing market is analyzed, and market size, volume information is provided by country, technology, components, software, hardware, and verticals as referenced above.
The countries covered in the affective computing market report are the U.S., Canada, and Mexico in North America, Brazil, Argentina, and rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of the Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
North America dominates the affective computing market due to the active research organizations involved in developing technically advanced computing devices. Furthermore, the increase in the occurrence of leading adopters of next-gen and AI-based technologies on an extensive scale will further boost the growth of the affective computing market in the region during the forecast period. Asia-Pacific is projected to observe a significant amount of growth in the affective computing market due to the rise in the acceptance of the latest technologies. Moreover, the increase in the trend of smartwatches and smart wearable devices is further anticipated to propel the growth of the affective computing market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Affective Computing Market Share Analysis
The affective computing market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the affective computing market.
The major players covered in the affective computing market report are Microsoft Corporation, IBM, Alphabet Inc., Apple Inc., Qualcomm Technologies, Inc., Saffron Tech Pvt Ltd, Sony Depthsensing Solutions SA/NV., Affectiva, Elliptic Laboratories A/S, Eyesight Technologies Ltd., Pyreos Limited, Cognitec Systems GmbH, Beyond Verbal, Numenta, GestureTek, Sightcorp, Sensum Co., audEERING, REALEYES DATA SERVICES LIMITED, Nemesysco Ltd, and Kairos AR, Inc. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.