Business Description
Global Affective Computing Market is expected to reach US$ 53.95 Bn by 2026 at a CAGR of 34.5% during the forecast period. Affective computing is a technology which helps in recognizing human decision making through analyzing heart rate, voice, facial expressions, and other body parameters. Due to an increasing use of connected devices and smartphones, consumer-centric businesses are finding new ways to stay ahead in competition by using computing technology. The application of survey and focus group does not provide accurate emotional state of an end-user related to a specific product. Further, their responses may be prejudiced depending upon the surrounding conditions. The emotional state of a consumer can trigger his/her engagement with the brand and this affects the decision making to buy the product. Thus, knowing the real-time emotional state can help the businesses to sell their product and thereby increase revenue.
Exuberant cost of making effective computing systems, slow digitization rate across emerging economies, and other operational challenges are some of the major factors that may affect the growth of the market. Major factors contributing to the growth of the market are the machine interaction technologies and increasing adoption of the human.
Affective Computing Market
Global Affective computing market is segmented by technology, software, hardware, vertical, and region. Among software segment, facial feature extraction software is expected to reach at the highest CAGR during the forecast period, owing to increasing demand to expression recognition techniques which are used by healthcare & life sciences, media and entertainment and by end-users, growing demand for authenticating devices and smartphones.
In the case of vertical, the healthcare and life sciences sector is likely to hold the largest market share during the forecast period. The healthcare and life sciences sector holds large-scale application areas for affective computing technology, which include detection of psychological disorders, facial expression recognition for the children (autism & dyslexia) and, thereby holding the largest market share among other end-use verticals studied for the market analysis.
While using regions, North America is estimated to hold the largest market share during the forecast period due to the presence of a large number of enterprises and infrastructure, along with technologically advanced scenarios. However, APAC is expected to reach at the highest CAGR during the forecast period. APAC offers the potential growth opportunities for the market to emerge over the coming years and surpass the North American affective computing market in terms of technology adoption, owing to rising investment in security infrastructure and growing demand for wearable devices.
Some of the key players are IBM Corporation, Microsoft Corporation, Saffron Technology, Softkinetic System S.A., Affectiva, Elliptic Labs etc.
Scope of the Global Affective Computing Market report:
Global Affective computing market by Technology:
• Touch-based
• Touchless
Global Affective computing market by Software:
• Speech Recognition
• Gesture Recognition
• Facial Expression Extraction
• Analytics Software
• Enterprise Software
Global Affective computing market by Hardware:
• Sensor
• Camera
• Device Storage and Processor
• Others (Power Management Systems, Touchpoints/Displays, Radios/Antennas, Microphones, and Speakers)
Global Affective computing market by Vertical:
• Academia and Research
• Media and Entertainment
• Government and Defense
• Healthcare and Life sciences
• Information Technology (IT) and Telecom
• Retail and e-Commerce
• Automotive
• Banking, Financial Services, and Insurance (BFSI)
• Others (Travel, Security & Energy, and Power)
Affective computing market by Region:
• North America
• Europe
• Asia-Pacific (APAC)
• Rest of World (RoW)
Key Players of Global Affective Computing Market:
• Google Inc.
• IBM Corporation
• Microsoft Corporation
• Saffron Technology
• Softkinetic System S.A.
• Affectiva
• Elliptic Labs
• eyeSight Technologies Ltd.
• Pyreos Ltd.
• Cognitec Systems GmbH
• Beyond Verbal Communication Ltd
• Numenta
• GestureTek
• Sightcorp
About Company Information-
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
