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 growth include the growing demand for voice-enabled virtual assistants, soaring need to counter fraudulent activities, and enhanced security in the automotive and banking sectors.
The vendors covered in the affective computing market report 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), and Numenta (US). These players have adopted various growth strategies, such as partnerships, agreements & collaborations, new product launches & product enhancements, and acquisitions to expand their presence in the affective computing market. Partnerships, agreements & collaborations and new product launches have been the most adopted strategies by the major players from 2017 to 2020 to innovate their offerings and broaden their customer base.
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Pureplay vendors such as Kairos (US), Eyesight Technologies (Israel), Affectiva (US), GestureTek (Canada), and Beyond Verbal (Israel) have been acknowledged as some of the innovators in affective computing solutions market space. These companies are integrating facial expression sensing, gesture sensing components coupled with analytics features into mobile apps, games, and electronic consumer devices to enhance the digital experiences of their customers. These prominent key players are therefore known to offer affective computing solutions to SMEs and large enterprises across verticals, such as education, healthcare, gaming, robotics, media, and advertising, market research, automotive, and retail, among others.
Most of the companies in the affective computing market are adopting inorganic growth strategies, such as new partnerships and acquisitions, for strengthening their innovative product portfolio. Affective computing market players are focused on the integration of artificial intelligence with various recognition software to build superior products that will increase their user customer base.
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
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