Affective Computing Market

Key players 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

The global affective computing market size is projected to grow from USD 22.2 billion in 2019 to USD 90.0 billion by 2024, at a CAGR of 32.3% 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), 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 2019 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.

  • In June 2019, EyeSight technologies partnered with AI System-on-Chip (SoC) supplier Ambarella to deliver a market-ready driver state, action, and recognition system for incorporation with vehicles by OEM and Tier-1 automotive manufacturers.
  • In January 2019, Affectiva partnered with Aptiv PLC to enable next-generation vehicle experience. The partnership will deliver innovative and scalable software - derived from deep learning architectures - to enhance perception capabilities in advanced safety solutions and reimagine the future of the in-cabin experience.

Related Reports:

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 2024

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Report Code
TC 3707
RI Published ON
11/1/2019
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