REPORT HIGHLIGHT
Affective Computing Market size was valued at USD 54,002.12 Million in 2022, expanding at a CAGR of 33.56% from 2023 to 2030.
Affective computing is an interdisciplinary topic concerned with the creation of systems and technologies capable of identifying, understanding, and responding to human reactions and emotional signals. It integrates psychology, computer science, and cognitive science ideas to enable robots to comprehend and respond correctly to human emotional states. These technologies measure emotional states using data sources such as physiological signals, voice tone, facial expressions, and natural language processing and have applications in fields such as virtual agents, human-computer interaction, and healthcare.
Affective Computing Market- Market Dynamics:
- Rising technology adoptions in various industries propel market demand.
- The Affective Computing market is expanding as a result of increased technology use in a variety of industries, notably the automotive industry. As automobiles become more powerful and linked, there is a growing desire for emotional AI systems that can understand and respond to operator and passenger emotions, hence improving safety and the entire driving experience. Furthermore, emotional computing has applications in virtual assistants, customer service, and healthcare, boosting its market rise. The major effective computer applications in the automobile sector help to reduce accidents by informing and warning drivers. According to the WHO, 20-50 million people are killed in car wrecks each year, killing about 1.3 million people. Pedestrians, motorcycle riders, and cyclists are the most vulnerable road users, contributing to more than half of all deaths.
Affective Computing Market- Key Insights:
- As per the analysis shared by our research analyst, the global Affective Computing market is estimated to grow annually at a CAGR of around 33.56% over the forecast period (2023-2030)
- The Affective Computing industry is projected to grow at a significant rate due to the rising technology adoptions in various industries
- Based on material technology, touch-based was predicted to show maximum market share in the year 2022
- Based on component segmentation, software was the leading type in 2022
- Based on end-use segmentation, healthcare was the leading type in 2022
- On the basis of region, North America was the leading revenue generator in 2022
Affective Computing Market- Segmentation Analysis:
- The Global Affective Computing Market is segmented on the basis of Technology, Component, Technology, and Region.
- The market is divided into categories based on Technology: touch-based and touchless. The market is dominated by the Touch-based sector. In the application of effective computing solutions, touch-based technologies are critical. To record facial expressions and physical motions, a full-fledged system often involves hardware components such as storage devices, sensors, and cameras. It can also need users to do particular movements by touching the device or using the controller attached to the device.
- The market is divided into two categories based on components: hardware and software. The software segment of the Affective Computing market is expanding due to increased demand for emotional AI applications and technologies. As organizations and industries appreciate the value of understanding and reacting to human emotions, there is a growing demand for sophisticated software which can analyze emotional data, effectively interpret it, and provide suitable reactions, fueling the rise of this category.
Affective Computing Market- Geographical Insights:
- Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. Some of the most active research groups involved in the development of technically sophisticated computer devices are based in North America. The region is also among the early adopters of next-generation and artificial intelligence-based technologies on a large scale, and it has been consistently developing infrastructure with AI to provide a mature infrastructure suitable for effective computing deployment.
Affective Computing Market- Competitive Landscape:
Companies sell their products through a variety of channels, including corporate websites, e-commerce websites, retailers, distributors, and end consumers. Products makers compete on a variety of aspects, including product costs, performance, product making, technology, reputation, and availability. Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new product launches, End-use network development, R&D spending, and mergers and acquisitions. For instance, in September 2022, Liberty Global has increased its usage of Nuance Dragon TV for Virgin Media O2 clients in the UK, according to Nuance Communications, Inc. The enhancement provides additional features that improve help for visually challenged clients, such as reading program information aloud.
Recent Developments:
In June 2022, Aural Analytics, Inc., a leading player in clinical-grade speech data analytics, announced a collaboration with Koneksa, a pioneer in digital biomarker development, to expand its platform and research abilities utilizing Aural Analytics' Speech Vitals technology.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL AFFECTIVE COMPUTING MARKET KEY PLAYERS
- Realeyes Data Services Ltd
- Nuance Communications Inc. (Microsoft Corporation)
- Nemesysco Ltd
- Kairos AR Inc.
- IBM Corporation
- Gesturetek Inc.
- Eyesight Technologies Ltd
- Emotibot Technologies Limited
- Element Human Ltd
- audEERING GmbH
- Amazon Web Services Inc.
- Affectiva Inc.
GLOBAL AFFECTIVE COMPUTING MARKET, BY TECHNOLOGY
GLOBAL AFFECTIVE COMPUTING MARKET, BY COMPONENT
GLOBAL AFFECTIVE COMPUTING MARKET, BY END-USE
- Automotive
- BFSI
- Government
- Healthcare
- IT & Telecom
- Media & Entertainment
- Retail & E-commerce
- Others
GLOBAL AFFECTIVE COMPUTING MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA