The global affective computing market is foreseen to develop from $ 28.6 billion in 2019 to $ 140.0 billion by 2025, at an annual rate of 37.4% during the outlook period of 2020 to 2025.
Affective computing is the study and development of systems and devices capable of recognizing, interpreting, processing and simulating human effects. It is an interdisciplinary field that encompasses computer science, psychology and cognitive science.
Affective computing combines cognitive science, psychology and computing to predict the emotional state of human beings and provides an adequate response to achieve a favorable outcome. This can help businesses and the e-commerce industry improve the customer shopping experience and effectively sell products. It can also be used in online and kiosk advertising to provide favorable advertising based on the emotional state of the end-user. IT includes the use of the emotion analysis engine, artificial intelligence, big data and sensors such as a camera, a front screen to collect and analyze customer emotions. It also includes software for voice and facial recognition, gesture recognition and neural analysis.
For people with speech disorders and people with emotional disorders, Gestele, a prototype, has been developed to increase the emotions, gestures or any other form of communication of the people concerned. Affective computing is the main option for personalization, for instance adjusting light or room temperature based on moods, etc.
The increasing use of robots provides an additional incentive for the implementation of this technology. Recent advances in robotics are driving a huge increase in demand for robots that are artificially intelligent to behave politely and socially intelligent.
Recent Developments:
Market Growth and Trends:
Healthcare must be one of the main beneficiaries of affective computing technology with various advanced and commercialized applications. Some of the early developments in the area of affective computing aim to help healthcare professionals, primarily with technology that should help them understand patients with mental disabilities. Artificial intelligence (AI) in medicine has increased and significant efforts are being made to increase contribution to the field. Companies like DeepMind, Babylon Health, etc., have accelerated their efforts to achieve these goals.
Additionally, several companies are working on advanced patient monitoring devices, which use facial coding techniques to continuously monitor patients. However, compared to other end users, post-approval procedures in the healthcare industry, products take time to reach the retail market. In the current market scenario, Empatica is one of the few companies offering efficient portable computing devices for healthcare applications. The company's devices are approved by the United States Food and Drug Administration (FDA). The company has geographically limited operations to serve clients in the United States and Europe.
In the midst of the COVID-19 pandemic crisis, various governments and regulatory authorities are forcing public and private organizations to adopt new practices for working remotely and maintaining social distance. Since then, digital ways of doing business have become the new business continuity plan (BCP) for various organizations. With the widespread use of mobile devices and the penetration of the Internet in corners of the world, people are more and more inclined to use digital technologies such as facial recognition, voice recognition and gesture recognition to stay connected virtually.
On the other hand, organizations are also implementing various concepts, like bringing your own device (BYOD) and working from home (WFH) to modernize their work cultures. Affective IT solutions allow organizations to use technologies such as facial recognition and camera sensors to detect temperature to contain the spread of the virus. Many industries are investing heavily in R&D to develop analysis software to study the spread of COVID-19.
Market Drivers and Restraints:
The increase in the implementation of gesture-activated IoT devices in smart homes, the surge in the need for voice-activated workstations and navigations, and the adoption of on-board infotainment systems are supposed to support the global affective computing market growth in near future.
With the advent of Industry 4.0, technological advancements such as seamless computing, improved human-machine interfaces, and advanced network technologies are expected to improve the performance of the affective computing system. Affective computing should have important implications for the future of any business, with a widespread impact on its ergonomics, human factors, project management, and organizational change. This factor has driven the adoption of emotional affective computing solutions in various vertical areas of the world.
The cost of manufacturing affective computer systems is higher and the tangible return on investment is low. This factor is a major obstacle to the growth of the affective computing market, as most enabling technologies such as laptop computing and gesture recognition carry significant development costs. Therefore, companies that lack financial means do not opt for the platform, even if they are interested in affective computing to increase their productivity.
Market segmentation:
Based on technology:
Based on the component:
Based on Software:
Based on the Hardware:
Based on verticals:
Regional Analysis:
North America has the presence of several leading market players that provide advanced solutions to all vertical industrial sectors in the area. In addition, the increasing investments, partnerships and significant R&D activities by leading companies in the USA are contributing to the extensive adoption of affective computing in North America.
Key players in the market:
Major Providers covered by the Global Affective Computing Market Report include Google (United States), Microsoft (United States), IBM (United States), Apple (United States), Affective (United States), Qualcomm (United States), Elliptic Labs (Norway), Eyesight Technologies (Israel), Sony Depthsensing Solutions (Belgium), Intel (United States), Pyreos (United Kingdom), Cognitec Systems (Germany), Beyond Verbal (Israel), GestureTek (Canada), SightCorp (Noord -Holland), CrowdEmotion (United Kingdom), Kairos (United States), nViso (Switzerland), PointGrab (United States), Eyeris (United States), Numenta (United States). These players have embraced various growth strategies including partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to increase their presence.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Affective Computing Market, By Technology
6.1.1 Touch-based
6.1.2 Touchless
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Affective Computing Market, By Component
6.2.1 Hardware
6.2.2 Software
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Affective Computing Market, By Hardware
6.3.1 Sensors
6.3.2 Cameras
6.3.3 Storage Devices and Processors
6.3.4 Market Size Estimations & Forecasts (2019-2024)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index
6.4 Affective Computing Market, By Software
6.4.1 Speech Recognition
6.4.2 Gesture Recognition
6.4.3 Extraction of Facial Features.
6.4.4 Analysis Software
6.4.5 Business Software
6.4.6 Market Size Estimations & Forecasts (2019-2024)
6.4.7 Y-o-Y Growth Rate Analysis
6.4.8 Market Attractiveness Index
6.5 Affective Computing Market, By Vertical
6.5.1 Universities and Research
6.5.2 Media and Entertainment
6.5.3 Government and Defense
6.5.4 Health and Life sciences
6.5.5 IT and Telecommunications
6.5.6 Retail and E-commerce
6.5.7 Automotive
6.5.8 BFSI
6.5.9 Market Size Estimations & Forecasts (2019-2024)
6.5.10 Y-o-Y Growth Rate Analysis
6.5.11 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Technology
7.2.3 By Component
7.2.4 By Hardware
7.2.5 By Software
7.2.6 By Vertical
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Technology
7.3.3 By Component
7.3.4 By Hardware
7.3.5 By Software
7.3.6 By Vertical
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Technology
7.4.3 By Component
7.4.4 By Hardware
7.4.5 By Software
7.4.6 By Vertical
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Technology
7.5.3 By Component
7.5.4 By Hardware
7.5.5 By Software
7.5.6 By Vertical
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Technology
7.6.3 By Component
7.6.4 By Hardware
7.6.5 By Software
7.6.6 By Vertical
8. Key Player Analysis
8.1 Google
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Microsoft
8.3 IBM
8.4 Apple
8.5 Qualcomm
8.6 Elliptic Labs
8.7 Intel
8.8 GestureTek
8.9 SightCorp
8.10 Kairos
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
