Affective computing aspires to reduce the distance between human emotions and machines by developing computational systems that recognize, response, and express emotions. Computer scientists and major players in the market are inclined toward putting more efforts on affective computing to develop a highly intelligent computing system, which enriches the proactive and intelligent humanmachine interaction.
Increase in adoption of connected devices across various end-user verticals and continuous advancement in enabling technologies are anticipated to drive the market growth during the forecast period. However, lack of standardization and high production cost are estimated to hamper the market growth.
The affective computing market is segmented on the basis of type, vertical, and region. Based on type, it is categorized into hardware and software segments. The software segment is divided into analytics software, enterprise software, facial feature extraction, gesture recognition, and speech recognition. Based on vertical, it is classified into retail sector, transportation & logistics, IT & telecom, healthcare sector, public sector, banking, financial, services and insurance (BFSI), and others (manufacturing, energy, and utility). The market is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
Key market players (offering affective computing technologies and services) adopted product launch, partnership, geographical expansion, and acquisition as their key strategies to facilitate their business growth and expansion globally. The key players profiled in the market are Apple, Inc., Beyond Verbal Communication Ltd., Cognitec Systems GmbH, Elliptic Labs, Eyesight Technologies, Ltd., Gesturetek, Google Inc., IBM Corporation, Microsoft Corporation, and Qualcomm Inc.
- The study provides an in-depth analysis of the affective computing market and current and future trends to elucidate the imminent investment pockets.
- Information regarding key drivers, restraints, and opportunities and their impact analysis on the market size is provided.
- Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global market from 2016 to 2023 is provided to determine the market potential.
Affective Computing Market Key Segments:
The affective computing market is segmented based on type, vertical, and region.
- Analytics Software
- Enterprise Software
- Facial Feature Extraction
- Gesture Recognition
- Speech Recognition
- Retail Sector
- Transportation & Logistics
- IT & Telecom
- Healthcare Sector
- Public Sector
- Others (Manufacturing, Energy, and Utility)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players Profiled in the Report
- Apple, Inc.
- Beyond Verbal Communication Ltd.
- Cognitec Systems GmbH
- Elliptic Labs
- Eyesight Technologies, Ltd.
- Google Inc.
- IBM Corporation
- Microsoft Corporation
- Qualcomm Inc.