Affective Computing Market, By Technology Outlook (Touch-based and Touchless), By Component (By Software (Speech Recognition and Gesture Recognition), By Hardware (Sensors, Cameras, and Storage Devices and Processors)), By Region – Global Analysis Forecast Till 2030

The Worldwide Affective Computing Market was valued at US$ 38.51 Bn in 2021 and is forecast to reach a value of US$ 428.66 Bn by 2030 at a CAGR of 34.6% between 2022 and 2030.

The term "emotional artificial intelligence" also applies to affective computing. It imagines a user interacting with a computer and the computer sensing the user's sensations and responding appropriately. An emotional artificial intelligence-enabled computer system, for instance, would be able to recognize when a student is having trouble understanding a particular subject based on their facial expressions and deliver the necessary information to help them. You can direct students to useful websites.

Several assistive technologies, including sensors and cameras, assist in gathering data in the form of various physical and facial gestures, which are then given to various algorithms for analysis to gauge a user's emotional state. It is also possible to address a user's subliminal or subtle cues utilising the right tools and IT systems to promote productive interactions. As a result, emotional computing is used in various businesses to gauge and examine consumers' subliminal responses.

Emotional computing, also known as affective computing, has gained significant attention in recent years. It involves the development of intelligent systems that can understand and respond to human emotions. Applied affective computing focuses on practical applications of emotional computing, aiming to create technologies that can enhance user experiences by recognizing and adapting to emotions. Multimodal affective computing takes a holistic approach, integrating multiple modalities such as facial expressions, voice, and physiological signals to accurately capture and interpret emotions. The ultimate goal of intelligent and emotional computing is to create systems that not only possess advanced intelligence but also demonstrate emotional intelligence, enabling them to empathize and interact with users on a deeper emotional level. With the advancement of affective computing, we are witnessing a revolution in human-computer interaction, where machines are becoming more sensitive and responsive to human emotions, leading to more personalized and emotionally engaging experiences.

Market Dynamics

Drivers:

The rise in demand for telehealth-related affective computing solutions and the rise in demand for socially intelligent artificial agents are the main factors that are estimated to propel the growth of the affective computing market during the forecast period. Additionally, it is predicted that the affective computing market would grow due to the growing popularity of wearable technology, increased internet penetration across industry verticals, and global technological advancements. Further predicted to moderate the growth of the affective computing market is the rising desire for high operational excellence, enhanced resource utilisation, and increased productivity.

Restraints:

However, the increase in the cost of manufacturing affective computing systems and the disconnect between academic research and practical applications are further anticipated to restrain the Affective Computing market's expansion over the timeline.

However, the development of the emotional computing sector may soon face additional difficulties due to the complex systems for emotion recognition.

Opportunity:

Further potential opportunities for the growth of the affective computing market in the upcoming years will be provided by the rise in preference for industry-specific solutions, the expansion of government initiatives to take advantage of the benefits of emotion AI/affective computing technology, the increase in acceptance of cloud-based applications and services, and the accelerating number of partnerships and expanding ecosystems.

Key Players:

• Affectiva

• Elliptic Laboratories A/S

• Cognitec Systems GmbH

• Eyesight Technologies Ltd.

• Intel Corporation

• IBM

• Microsoft Corporation

• Kairos AR, Inc.

• Qualcomm Technologies, Inc.

• Google

• And Others

Market Segmentation:

• Affective Computing Market, Technology Outlook

  • Touch-based

  • Touchless

• Affective Computing Market, Software Outlook

  • Analytics Software

  • Enterprise Software

  • Facial Recognition

  • Gesture Recognition

  • Speech Recognition

• Affective Computing Market, Hardware Outlook

  • Cameras

  • Sensors

  • Storage Devices & Processors

  • Others

• Affective Computing Market, End-use Outlook

  • Automotive

  • BFSI

  • Government

  • Healthcare

  • IT & Telecom

  • Media & Entertainment

  • Retail & E-commerce

  • Others

• Affective Computing Market, Regional Outlook

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

  • The Middle East & Africa

Regional Analysis:

As a result of active research groups engaged in creating technologically cutting-edge computing equipment, North America now holds a monopoly on the affective computing business. Affective computing market expansion in the area will also be aided throughout the projected period by the rise in the number of leading large-scale adopters of next-generation and AI-based technologies.

Due to the increasing acceptance of cutting-edge technology, Asia-Pacific is projected to experience considerable growth in the affective computing industry. In addition, the rise in popularity of smartwatches and other smart wearables is also projected to fuel the expansion of the affective computing market in the area by 2030.

Scope of the Report:

User

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