Affective Computing Market
With the increasing global penetration of the internet, innovations that have eased the operations of companies and the usage of their services for consumers, have also appeared on the market. Technological advancements within the computing market have made possible the real-time interaction between computers and humans, through affective computing platforms. Latest technologies are able to preliminary detect and recognize the non-verbal cues of humans, after which communicate with them in real-time by using video, physiology, gestures, and other behaviors through the interface.
The Affective Computing Market is projected to grow with a CAGR of 40.01% during the forecast period of 2022 to 2031.
Affective Computing Market Growth and Trend
Many factors in recent years have positive affected the growth of the Affective Computing Market. Initially, the large penetration of the internet and the trending wearable devices allowed for the creation of new technologies, which amongst others, included affective computing platforms. As those technologies gradually developed, an even larger number of companies aimed at impeccable operational performance and improved productivity. This required the adoption of the latest technological advancements within the field and therefore stimulated the growth of the Affective Computing Market. The increased preference for industry-specific solutions, in addition to new government initiatives that encouraged the adoption of Artificial Intelligence and Affective Computing technologies, and the wide acceptance of cloud-based applications, further expanded the market. Furthermore, the affective computing platforms have wide application within the telehealth sector, as it has been increasingly adopting socially intelligent agents to improve its operations. Firms within the industry are receiving a number of offers for partnerships and that trend is projected to sustain the future.
However, the sophisticated technologies adopted in the affective computing platforms are very complex, which may be a factor that hampers the growth of the sector, due to the potential gap between academic research and actual effectiveness. In addition, the complicated technologies are related to very high costs for producers.
Affective Computing Market Segmentation
The Affective Computing Market is segmented on the basis of technology, components, software, hardware, and verticals. According to the type of technology, the market is divided into touch-based and touchless. Based on the components, the affective computing market differentiates by software and hardware. Additionally, on the basis of software, the market is divided into speech recognition, gesture recognition, facial feature extraction, analytics software, enterprise software, and others. On the other hand, based on hardware, affective computing is segmented into sensors, cameras, storage devices and processors, and others. Finally, based on the vertical, the different segments can be 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 Regional Analysis
The effective adoption of leading next generation and Artificial Intelligence technologies and increased focus and investment in the further development of advanced computing services are both crucial factors to the growth of the industry. Based on these factors, North America, as the region that dominates in active research and hence, technological advancements, is the holds the leading position within the Affective Computing Market. Although the North American region is expected to sustain, and even expand further its market, the Asia Pacific region is projected to experience a surge in growth with the gradual penetration of the latest technologies. Furthermore, the increasing popularity of smart wearable devices, and mostly watches, is forecasted to have a positive impact on the Affective Computing industry growth in the future.
Affective Computing Market Share and Competition
The major players operating in the Affective Computing Market are the 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 Ltd., Nemesysco Ltd, and Kairos AR, Inc. and others.
• Historical Revenue and Unit Sales Volume Data (2010 - 2020)
• Forecast Revenue and Unit Sales Volume Data (2022 - 2031)
• Price trend and analysis
• Segment based revenue and unit sales data (2010 - 2031)
• Import/Export Analysis
• Competitive Analysis and Company Profiles
• Product analysis and Strategic framework
Industry segmentation and Revenue Breakdown
Technology Type Analysis (Revenue, USD Million, 2022 - 2031)
Component Type Analysis (Revenue, USD Million, 2022 - 2031)
Software Type Analysis (Revenue, USD Million, 2022 - 2031)
• Speech Recognition
• Gesture Recognition
• Facial Feature Extraction
• Analytics Software
• Enterprise Software
Hardware Type Analysis (Revenue, USD Million, 2022 - 2031)
• Storage Devices and Processors
Vertical Type Analysis (Revenue, USD Million, 2022 - 2031)
• Academia and Research
• Media and Entertainment
• Government and Defense
• Healthcare and Life Sciences
• IT and Telecom
• Retail and E-Commerce
• Financial Services
Country Analysis (Revenue, USD Million, 2022 - 2031)
• Rest of South America
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Saudi Arabia
• South Africa
• Rest of the Middle East and Africa
Affective Computing Market Companies
• 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
• Sensum Co.,
• Realeyes Data Services Ltd
• Nemesysco Ltd
• Kairos AR Inc.
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