The global Affective Computing Market size is expected to reach USD 192.45 billion by 2027, registering a CAGR of 33.0% from 2020 to 2027, according to a new report by Grand View Research, Inc. Affective computing is being used across a myriad of end-use industries to gauge the emotional states of customers and analyze how these emotional states can influence the buying and selling decisions. The increasing rate of crime and terrorism has particularly increased the adoption of affective computing for security and surveillance purposes. The growing popularity of smart devices and wearables among individuals also bodes well for the growth of the market.
Affective computing helps in detecting human
emotions and analyzing the human decision-making process through various human
parameters, such as voice, heart rate, and expressions. Film making companies
have already been employing algorithms, such as Factorized Variational
Autoencoders (FVAEs) to gauge audience responses to different characters in
movies. Video games are being developed to offer gamers an improved gaming experience
by understanding the gamers’ emotions while playing games. Such diversified
usage of the technology is expected to open new growth opportunities for the
market over the forecast period.
The potential to use affective computing to develop
emotions for treating autism-based diseases is another factor expected to drive
the growth of the market. The growing demand for consumer electronics and
IoT-based devices coupled with the evolving needs for convenience and comfort
in product usage is also expected to boost the growth of the market. The
growing awareness toward proper hygiene in the wake of the COVID 19 pandemic
outbreak is equally expected to discourage physical contact and instead
encourage the usage of facial
recognition, and gesture
recognition, among other techniques,
thereby driving the market growth.
List of Key Players of Affective Computing Market
- Affectiva
- Elliptic Laboratories A/S
- Cognitec Systems GmbH
- Eyesight Technologies Ltd.
- Intel Corporation
- IBM
- Microsoft Corporation
- Kairos AR, Inc.
- Qualcomm Technologies, Inc.
- Google
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Affective Computing Market Report Highlights
- The touchless segment is anticipated to register a CAGR of over 35%
over the forecast period as the growing awareness toward proper hygiene in
the wake of the outbreak of the COVID-19 pandemic triggers the demand for
touchless technology
- The facial recognition segment is anticipated to gain traction over
the forecast period in line with the growing adoption of affective
computing by government agencies for safety and security purposes
- The cameras segment is anticipated to grow at a faster pace over the
forecast period as advanced digital cameras are being developed to provide
better video surveillance for improved safety and security
- The automotive segment is expected to witness phenomenal growth from
2020 to 2027 owing to the ongoing development of autonomous and
semi-autonomous vehicles
- The Asia Pacific regional market is anticipated to witness
significant growth. The smart city projects being pursued aggressively by
the emerging economies in the Asia Pacific is expected to drive the demand
for affective computing solutions in the region
Affective Computing Market Report
Scope
|
Report Attribute |
Details |
|
Market
size value in 2024 |
USD 78.36
billion |
|
Revenue
Forecast in 2030 |
USD
388.28 billion |
|
Growth
Rate |
CAGR of
30.6% from 2024 to 2030 |
|
Base year
for estimation |
2023 |
|
Historical data |
2017 - 2022 |
|
Forecast period |
2024 - 2030 |
Related Press Release@ Affective Computing Market Analysis
Affective Computing Market Segmentation
Grand View Research has segmented the global
affective computing market based on technology, software, hardware, end-use,
and region:
Affective Computing Technology Outlook (Revenue, USD
Million, 2016 - 2027)
- Touch-based
- Touchless
Affective Computing Software Outlook (Revenue, USD
Million, 2016 - 2027)
- Analytics Software
- Enterprise Software
- Facial Recognition
- Gesture Recognition
- Speech Recognition
Affective Computing Hardware Outlook (Revenue, USD
Million, 2016 - 2027)
- Cameras
- Sensors
- Storage Devices & Processors
- Others
Affective Computing End-use Outlook (Revenue, USD
Million, 2016 - 2027)
- Automotive
- BFSI
- Government
- Healthcare
- IT & Telecom
- Media & Entertainment
- Retail & E-commerce
- Others
Affective Computing Regional Outlook (Revenue, USD
Million, 2016 - 2027)
- North America
- The U.S.
- Canada
- Europe
- Germany
- The U.K.
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- The Middle East & Africa
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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