Affective Computing Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024

Description

The Global Affective Computing Market, valued at USD 62 billion in 2023, is projected to grow at a CAGR of 25% from 2024 to 2032. This rapid expansion is largely fueled by the increasing demand for personalized experiences across both consumer and business platforms. As people seek more tailored interactions, affective computing technologies play a critical role in customizing services by utilizing emotional data. These systems enhance user engagement by adapting to individual emotions, making experiences more relevant and meaningful. A significant driver of market growth is the rising interest in emotional AI, which involves the development of systems that can interpret and respond to human emotions.

Emotional AI has become crucial for businesses aiming to improve customer service by offering more empathetic interactions through chatbots and virtual assistants. These technologies are designed to pick up on emotional cues, delivering more personalized and effective responses. The focus on enhancing user experience through emotional AI is expected to contribute significantly to the expansion of the affective computing market. In terms of components, the market is segmented into hardware, software, and services.

The software segment, which accounted for over 45% of the market share in 2023, is evolving rapidly. Driven by advancements in artificial intelligence and machine learning, software plays a pivotal role in analyzing inputs like facial expressions, vocal tones, and physiological signals to interpret emotional states. As businesses seek to create more engaging and empathetic technology, the demand for sophisticated software algorithms continues to rise, making this segment a key growth area. The market is also categorized by deployment models, with options for on-premises and cloud-based solutions.

Market Scope
Start Year	2023
Forecast Year	2024-2032
Start Value	$62 Billion
Forecast Value	$446.6 Billion
CAGR	25%

Cloud deployment is gaining traction due to its ability to offer real-time processing of emotional data while providing scalability and accessibility. Businesses benefit from cloud infrastructure by easily adjusting resources according to demand and integrating updates seamlessly. This flexibility supports the wider adoption of affective computing technologies across industries. North America, holding around 30% of the market share in 2023, dominates the global affective computing market.The region's strong technological infrastructure and substantial investments in AI and machine learning drive the rapid deployment of these solutions. Additionally, the demand for personalized experiences and applications for mental health contributes to the region's market leadership.

Product Code: 11446

Chapter 1 Methodology & Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates & calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market scope & definition

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Hardware providers
- 3.2.2 Software providers
- 3.2.3 Service providers
- 3.2.4 Technology
- 3.2.5 End-user
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Case study
3.6 Patent analysis
3.7 Key news and initiatives
3.8 Regulatory landscape
3.9 Impact forces
- 3.9.1 Growth drivers
  - 3.9.1.1 Increasing demand for personalized experiences
  - 3.9.1.2 Rising interest in emotional AI
  - 3.9.1.3 Increasing adoption of IoT devices
  - 3.9.1.4 Expansion of human-computer interaction
- 3.9.2 Industry pitfalls & challenges
  - 3.9.2.1 Privacy and ethical concerns
  - 3.9.2.2 Technical challenges
3.10 Growth potential analysis
3.11 Porter's analysis
3.12 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Component, 2021-2032 ($Bn)

5.1 Key trends
5.2 Hardware
5.3 Software
- 5.3.1 Analytics software
- 5.3.2 Enterprise software
- 5.3.3 Facial recognition
- 5.3.4 Gesture recognition
- 5.3.5 Speech recognition
5.4 Services

Chapter 6 Market Estimates & Forecast, By Deployment Model, 2021-2032 ($Bn)

6.1 Key trends
6.2 On-premises
6.3 Cloud

Chapter 7 Market Estimates & Forecast, By Technology, 2021-2032 ($Bn)

7.1 Key trends
7.2 Touch-based
7.3 Touchless

Chapter 8 Market Estimates & Forecast, By End-user, 2021-2032 ($Bn)

8.1 Key trends
8.2 Healthcare
8.3 Automotive
8.4 Consumer electronics
8.5 Retail & e-commerce
8.6 Education
8.7 Gaming and entertainment
8.8 Marketing and advertising
8.9 Others

Chapter 9 Market Estimates & Forecast, By Region, 2021-2032 ($Bn)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Russia
- 9.3.7 Netherlands
- 9.3.8 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Southeast Asia
- 9.4.7 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.5.4 Rest of LATAM
9.6 MEA
- 9.6.1 UAE
- 9.6.2 Saudi Arabia
- 9.6.3 South Africa
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles

10.1 Affectiva
10.2 Amazon, Inc
10.3 Cognitec Systems
10.4 Emotibot Technologies Limited
10.5 EmoVu
10.6 EyeTech Digital Systems
10.7 Google LLC
10.8 Hanson Robotics
10.9 IBM Corporation
10.10 Intel Corporation
10.11 Kairos
10.12 Kairos AR Inc.
10.13 Microsoft Corporation
10.14 NeuroSky
10.15 Nviso
10.16 Qualcomm
10.17 Realeyes
10.18 Samsung Electronics
10.19 Sensory Inc.
10.20 Xilinx Inc.

Affective Computing Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032