Global Affective Computing Market is valued approximately USD 20.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 37.4 % over the forecast period 2020-2027. Affective computing develops computational systems that recognize, response, and express emotions, which reduces the distance between human emotions and machines. The global Affective Computing is being highly demanded due to the coronavirus pandemic as employees are asked to work from home and organizations are temporary shutdown. The governments and regulatory authorities mandate both public and private organizations to embrace new practices for working remotely and maintaining social distancing. So The computer scientists and major players are focusing and putting more efforts on affective computing in order to develop a highly intelligent computing system, which enriches the proactive and intelligent human machine interaction.
The growing need for telehealth-related affective computing solutions, rising need for socially intelligent artificial agents, increasing adoption of wearable devices and growing internet penetration across industry verticals, technological advancements across the globe and growing need for high operational excellence, increased resource utilization, and enhanced productivity encourages the growth of Affective Computing Market. Furthermore, the rising advancements and other strategic alliance by market key players will create a lucrative demand for this market.
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For instance: on 18th June 2019, Microsoft launched four free “Eyes First” games for people with speech and mobility disabilities. These game has Windows 10 eye tracking APIs and can be used with or without Windows 10 Eye Control and can play games, such as tile slide, match two, double up, and maze using the eye gaze input. However, high production cost of affective computing systems and gap between academic research and real-life applications the growth of global Affective Computing market during the forecast period.
The regional analysis of global Affective Computing Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing adoption advanced technologies has lead the growth of the market. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Google
Microsoft
IBM
Apple
Qualcomm
Affectiva
Elliptic Labs
Eyesight Technologies
Sony Depthsensing Solutions
Intel
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Software
Hardware
Technology:
Touch-based
Touchless
By Software:
Speech Recognition
Gesture Recognition
Facial Feature Extraction
Analytics Software
Enterprise Software
By Hardware:
Sensors
Cameras
Storage Devices and Processors
Others
By Vertical:
Academia and Research
Media and Entertainment
Government and Defense
Healthcare and Life Sciences
IT and Telecom
Retail and eCommerce
Automotive
BFSI
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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