IMARC Group, a leading market research company, has released a report titled “Affective Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global affective computing market size reached US$ 51.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 298.7 Billion by 2028, exhibiting a growth rate (CAGR) of 34.5% during 2023-2028.
Affective computing, also known as emotional AI, allows computers to replicate, recognize, and process human emotions and sentiments. It makes use of concepts from psychology, computer science, and cognitive science. Affective computing examines emotions through the use of large data, various sensors, machine intelligence, and an analytics engine. Businesses use the system's data to improve decision-making in consumer-centric operations including marketing, sales, and customer support. As a result, affective computing is widely used in e-learning and autonomous systems.
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Affective Computing Market Trends and Drivers:
The growing internet penetration and rising demand for wearable devices are the key drivers of the worldwide affective computing market. It is also bolstered by enterprises all around the world's growing desire to understand consumer behavior. Aside from that, rapid technological advancement has increased demand for innovative electronic gadgets, such as voice-activated biometrics, boosting market expansion. Furthermore, the growing use of software tools in educational institutions and support mechanisms in medical services is boosting the market's prospects.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Technology:
- Touch-based
- Touchless
Breakup by Components:
- Hardware
- Sensors
- Cameras
- Storage Devices and Processors
- Others
- Software
- Analytics Software
- Enterprise Software
- Facial Recognition
- Gesture Recognition
- Speech Recognition
Breakup by End Use:
- Automotive
- BFSI
- Government
- Healthcare
- IT and Telecom
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Affectiva Inc.
- Cipia Vision Ltd.
- Cognitec Systems GmbH
- Elliptic Laboratories A/S
- Google LLC (Alphabet Inc.)
- Intel Corporation
- International Business Machines Corporation
- Kairos AR Inc.
- Microsoft Corporation
- Nuance Communications Inc.
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