Affective Computing Market Share Set for Broad Growth by 2024

Affective Computing Market
Affective Computing Market

Global Affective Computing Market: Overview

The computing technology is being used by the smartphones and the connected devices to find new ways to stay ahead in the market. The surveys do not provide the accurate response of an end-user regarding a specific product. These responses may be biased depending on the varying conditions. These responses trigger the consumer interest to purchase the product. Thus, identifying the real-time emotional state of the consumer is very important in selling the product. This is solved with the help of affective computing which helps in recognizing human emotions and decision-making with the help of reading the facial expressions, voice, heart rate, and the other body parameters. This is achieved in affective computing by combining psychology, cognitive science and the computer science to study the emotional state of the humans.

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Global Affective Computing Market: Segmentation

The global affective computing market is segmented into its technology, software, hardware, applications, and regions. On the basis of the technology, the global market is categorized into two types, namely, touch-based and touch-less. Based on the software, the global affective computing market is segregated into speech recognition, neural analysis, facial expression recognition, gesture recognition, enterprise software, and so on. The hardware components are categorized into cameras, comprise sensors, processors and storage devices and others. Based on the wide applications, the global market is segmented into academia and research, government and defense, IT and telecom, hospitality, travel, energy and power, entertainment, healthcare and life science, retail and e-commerce, banking, security and consumer electronics. The global affective computing market is regionally diversified into Europe, North America, Asia-Pacific and Rest of the World.

Global Affective Computing Market: Growth Factors

The demand for affective computing in the market is growing tremendously owing to the advancements made by the smaller players. The factors that are contributing to the market growth are the increase in concerns for security and rise in demand to map the human emotions by the advertising and marketing sector. In the coming years, the demand for the affective computing is going to increase owing to the demand of the internet and the wearable devices. It has become very necessary for the businesses to understand the need of their customer, thus driving the affective computing market growth. Many business organizations are collaborating with the affective computing providers in order to boost the development and research activities in the concerned area.

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Global Affective Computing Market: Regional Analysis

The region that is dominating the affective computing market is the Asia Pacific. Japan is the fastest growing market and is the largest contributor. Regions including North America, Europe, Latin America and the Middle East and Africa are also contributing their share to the global market growth. The increase in the advancements and technology and the huge investments are the factors that are driving the global affective computing market growth.

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Global Affective Computing Market: Competitive Players

The major market players in the global affective computing market are Affectiva, Cognitec Systems GmbH, Omek Interactive, Microsoft Corp., Elliptic Labs, Eyesight Technologies, Ltd., IBM Corp., PrimeSense, Apple Inc., Saffron Technology, Inc., PMD Technologies, PointGrab, Intel Corporation, SoftKinetic, Emotient, Inc., and ESPROS.

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