Overview and Scope
Affective computing refers to the study and development of systems and devices that can recognize, interpret, and respond to human emotions. The goal of affective computing is to create machines with the ability to understand and appropriately respond to the emotional states of individuals.
Sizing and Forecast
The affective computing market size has grown exponentially in recent years. It will grow from $62.48 billion in 2023 to $80.4 billion in 2024 at a compound annual growth rate (CAGR) of 28.7%. The growth in the historic period can be attributed to growing adoption of electronic devices, proliferation of gesture-enabled iot devices in smart home automation, growing demand for voice-driven workstations and navigation systems, integration of in-car infotainment systems, rising adoption of advanced electronic devices.
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The affective computing market covered in this report is segmented –
1) By Technology: Touch-Based, Touchless
2) By Component: Hardware, Analytics Software, Cameras, Other Components,
3) By Vertical: Media And Entertainment, Healthcare And Life Sciences, Government And Defense, Banking, Financial Services And Insurance (BFSI), Other Verticals
North America was the largest region in the affective computing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the affective computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing adoption of Internet of Things (IoT) devices is expected to propel the growth of the affective computing market going forward. IoT devices are nonstandard computing hardware that connect wirelessly to a network and can transmit data. IoT devices are used in affective computing to understand and process human emotions through technology. For instance, in May 2023, according to DataProt, a Republic of Serbia-based cybersecurity information company, it was revealed that by 2030, it is anticipated there will be more than 25.4 billion IoT devices in use and IoT devices are expected to connect to the internet at a rate of 152,200 per minute by 2025. Therefore, the growing adoption of Internet of Things (IoT) devices is driving the growth of the affective computing market.
Key Industry Players
Major companies operating in the affective computing market report are Amazon.com Inc., Apple Inc., Alphabet Inc., Microsoft Corporation, Sony Group Corporation, Panasonic Corporation, Intel Corporation , International Business Machines Corporation, Qualcomm Technologies Inc., NEC Corporation, Tobii Technology AB, Gorilla Technology Group, Noldus Information Technology, Entropic Technologies, Affectiva Inc., Beyond Verbal Communication Ltd., iMotions A/S, Sentiance NV, audEERING GmbH, Gesturetek Inc., NuraLogix Corporation, NVISO Inc., Numenta Inc., Kairos AR Inc., Cipia Vision Ltd.
The affective computing market report table of contents includes:
1. Executive Summary
2. Affective Computing Characteristics
3. Affective Computing Trends And Strategies
4. Affective Computing – Macro Economic Scenario
5. Global Affective Computing Size and Growth
…..
32. Global Affective Computing Competitive Benchmarking
33. Global Affective Computing Competitive Dashboard
34. Key Mergers And Acquisitions In The Affective Computing
35. Affective Computing Future Outlook and Potential Analysis
36. Appendix
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