HOME Research Insight Google Inc. (California, U.S.) and International Business Machines (IBM) Corporation (New York, U.S.) are the leading players in the Affective Computing Market

Google Inc. (California, U.S.) and International Business Machines (IBM) Corporation (New York, U.S.) are the leading players in the Affective Computing Market

Affective computing is one of the prime components in the Artificial Intelligence (AI) domain. MarketsandMarkets forecasts the market size to grow from USD 12.20 Billion in 2016 to USD 53.98 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 34.7%. The advancements in the field of cognitive computing have paved the way for affective computing system to solve challenging industry problems, including understanding the consumer behavior.

The prominent players in the affective computing market are Google Inc. (California, U.S.), International Business Machines (IBM) Corporation (New York, U.S.), Microsoft Corporation (Washington DC, U.S.), Saffron Technology (North Carolina, U.S.), Softkinetic System S.A. (Brussels, Belgium), Affectiva (Waltham, U.S.), Elliptic Labs (Oslo, Norway), eyeSight Technologies Ltd. (Herzliya Pituah, Israel), Pyreos Limited. (Edinburgh, U.K.), Cognitec Systems GmbH (Dresden, Germany), Beyond Verbal Communication Ltd. (Tel Aviv, Israel), Numenta (California, U.S.), GestureTek (Toronto, Canada), and Sightcorp (Amsterdam, Netherlands).

Players in this market have adopted numerous approaches to achieve growth. Many players adopted the strategies of business expansions, product launches, mergers & acquisitions, and partnerships to expand their product offerings and bring about innovative technological aspects in the affective computing domain.

IBM Corporation is an established player and a globally renowned vendor for providing dedicated software, hardware, and related services. The company’s major business segments include global services, which comprise Global Financing, Global Technology Services (GTS), Global Business Services (GBS), and Systems & Technology Software. IBM caters to the diverse industries of communications, BFSI, energy & utilities, hospitality, healthcare, retail, travel & transportation, metals & mining, government sector, media & entertainment, and education. The company has a significant presence in over 175 countries, and mainly serves the regions of the Americas, Europe, Asia-Pacific (APAC), and Middle East & Africa (MEA).

It has developed IBM Watson, a business unit for cognitive computing technology. AI-based technology falls under the purview of cognitive computing. IBM has come up with several AI-driven technologies, enabling the company to from partnerships with major players in various industry domains. For instance, it partnered with BMW and Pfizer for its AI-driven technology, thus widening the company’s footprint in the affective computing ecosystem.

Pyreos Limited was founded in 2007 and is headquartered in Edinburgh, U.K. It is in the business of making infrared sensors. The company designs these sensors on the basis of pre-requirements, boosting innovation in hand-held spectroscopic analysis to industrial monitoring, and gas & flame detection. Pyreos is currently fulfilling the need of infrared sensors in the sectors of oil analysis & condition monitoring, petrochemical analysis, process control, water quality monitoring, emission monitoring, and spectroscopy.

Related Reports:

Affective Computing Market by Technology (Touch-Based and Touchless), Software (Speech Recognition, Gesture Recognition, Facial Feature Extraction, Analytics Software, & Enterprise Software), Hardware, Vertical, and Region - Forecast to 2021

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