According to a research report "Affective Computing Market by Technology (Touch-based and Touchless), Component (Software (Speech Recognition and Gesture Recognition) and Hardware (Sensors, Cameras, and Storage Devices and Processors)), Vertical, and Region - Global Forecast to 2025" published by MarketsandMarkets, the global affective computing market size in the post-COVID-19 scenario is projected to grow from USD 28.6 billion in 2020 to USD 140.0 billion by 2025, at a CAGR of 37.4% during the forecast period. The major factors driving the market include the growing demand for voice-enabled virtual assistants, soaring need to counter fraudulent activities, and enhanced security in the automotive and banking sectors.
Browse 361 market data Tables and 37 Figures spread through 305 Pages and in-depth TOC on "Affective Computing Market by Technology (Touch-based and Touchless), Component (Software (Speech Recognition and Gesture Recognition) and Hardware (Sensors, Cameras, and Storage Devices and Processors)), Vertical, and Region - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/affective-computing-market-130730395.html
Based on technology, the touch-based segment is estimated to lead the market in 2020.
Touch-based technologies play a crucial role in the deployment of affective computing solutions. Most of the affective computing technologies need hardware, such as cameras, sensors, and storage devices, to provide a full-fledged computing solution, which can analyze various facial expressions. It enables users to make certain gestures by either touching the device or through the controller connected to the device.
With most of the developments taking place in the affective computing market, the market for touch-based technologies is expected to increase at a healthy CAGR. Some of the most popular touch- or gesture-based technologies deployed to monitor or detect human gestures include accelerometers, gyroscopes, or a combination of both.
Based on the vertical, healthcare & life sciences sector is estimated to grow at the fastest rate during the forecasted period.
Affective computing technology plays a vital role in the field of medical emergency and healthcare. Companies operating in this market integrate affective computing-related technologies applicable in the healthcare sector by evaluating not only the emotional state of mind but also pain & medical conditions that exhibit themselves through facial cues, such as autism and depression. The technology is a boon to the area of health science, which is now available for detecting the pain felt by people who are unable to express. It is ubiquitously understood that emotions and health have interrelation.
North America is expected to hold the largest affective computing market share during the forecast period.
North America is the largest revenue contributor to the affective computing industry, as the growth in the region is being driven by the rising internet penetration and increasing adoption of cloud-based and IoT applications across verticals. Countries in North America are well-established economies, which enable investments in advanced technologies.
US and Canada have heavily invested in R&D activities, contributing to the growth of new technologies. In addition, massive government funding and a strong technical base help this region for the growth of the affective computing market. The demand for affective computing technologies, such as facial feature extraction, analytics software, and gesture recognition, is increasing across verticals, such as healthcare and life sciences, automotive, government, and defense.
The major vendors covered in the affective computing market include Google (US), Microsoft (US), IBM (US), Apple (US), Qualcomm (US), Affectiva (US), Elliptic Labs (Norway), Eyesight Technologies (Israel), Sony Depthsensing Solutions (Belgium), Intel (US), Pyreos (UK), Cognitec Systems (Germany), Beyond Verbal (Israel), GestureTek (Canada), SightCorp (Noord-Holland), CrowdEmotion (UK), Kairos (US), nViso (Switzerland), PointGrab (US), Eyeris (US), Numenta (US).
Don’t miss out on business opportunities in Affective Computing Market. Speak to our analyst and gain crucial industry insights that will help your business grow.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441