The affective computing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Affective Computing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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.
The affective computing market size is expected to see exponential growth in the next few years. It will grow to $218.25 billion in 2028 at a compound annual growth rate (CAGR) of 28.3%. The growth in the forecast period can be attributed to rising internet penetration, adaption of smart wearable device, adoption of gesture-enabled iot devices for smart home automation, increasing use of wearable technology, huge adoption of the cloud based services. Major trends in the forecast period include introduction of new products and technologies, innovation to fulfill consumer demand, need for affective computing research, address communication and emotion regulation challenges.
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Scope Of Affective Computing Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Affective Computing Market Overview
Market Drivers –
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.
Market Trends –
Major companies operating in the affective computing market are innovating solutions, such as new AI facial recognition and emotion detection solutions, to sustain their position in the market. An AI facial recognition and emotion detection solution is a technology that combines artificial intelligence (AI) and computer vision to analyze facial expressions and identify emotions displayed by individuals. For instance, in August 2022, Intetics Inc., a US-based software development company, introduced a new AI facial recognition and emotion detection solution. This solution utilizes machine learning and artificial intelligence to evaluate sentiment and emotions automatically by analyzing facial expressions, body language, and other non-verbal cues. This field encompasses the detection of facial emotions and the automated evaluation of sentiment derived from non-verbal cues, including body language, voice patterns, gestures, facial expressions, and other non-verbal signals. Emotion detection solutions extend beyond facial recognition, encompassing the analysis of body language, voice patterns, and additional non-verbal signals to offer a more comprehensive insight into an individual’s emotional state.
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
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Regional Insights –
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.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Affective Computing Market Characteristics
3. Affective Computing Market Trends And Strategies
4. Affective Computing Market – Macro Economic Scenario
5. Global Affective Computing Market Size and Growth
32. Global Affective Computing Market Competitive Benchmarking
33. Global Affective Computing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Affective Computing Market
35. Affective Computing Market Future Outlook and Potential Analysis
36. Appendix
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