According to the latest report from the IMARC group “Affective Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, offers a comprehensive analysis of the industry, which includes information on the analysis of the global affective computing market. The global affective computing market reached a value of US$37.0 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$227.6 billion by 2027, posting a CAGR of 35.7% over the period 2022-2027.
What is Affective Computing?
Affective computing, or emotional AI, allows computers to interpret, simulate, recognize and process human emotions and feelings. It applies knowledge from psychology, computer science and cognitive science. Affective computing analyzes emotions using big data, different sensors, artificial intelligence and an analysis engine. Companies are using the insights gained from this system to improve decision-making in consumer-centric processes, such as marketing, sales, and customer service. Therefore, affective computing finds many applications in e-learning and autonomous systems.
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We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
Affective Computing Market Trends:
Rising internet penetration and rising demand for portable devices are the major factors propelling the global affective computing market. It is further supported by the growing need to understand consumer behavior by businesses around the world. Apart from this, the rapid technological development has inflated the demand for advanced electronic devices, such as voice-activated biometrics, which propels the growth of the market. Additionally, the growing deployment of software tools in educational institutions and support mechanisms in medical services is creating a positive outlook for the market.
Affective Computing Market Report Scope:
|Market size value in 2021||US$37.0 billion|
|Market forecast in 2027||US$227.6 billion|
|Rate of growth||CAGR of 35.7% from 2022 to 2027|
|Base year for the estimate||2021|
Breakdown by technology:
Breakdown by components:
- Storage devices and processors
- Analysis software
- Enterprise software
- facial recognition
- Gesture recognition
- Speech recognition
Breakdown by end use:
- Health care
- IT and Telecom
Market Breakdown by Region:
- North America (USA, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, others)
- Middle East and Africa
Competitive landscape with a key player:
- Affectiva Inc.
- Cipia Vision Ltd.
- Cognitec Systems GmbH
- Elliptical Laboratories A/S
- Google LLC (Alphabet Inc.)
- intel company
- International Commercial Machinery Society
- Kairos AR Inc.
- Microsoft Corporation
- Nuance Communications Inc.
Main highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market trends
- Market drivers and success factors
- Impact of COVID-19
- Value chain analysis
- Complete mapping of the competitive landscape
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As the novel coronavirus (COVID-19) crisis engulfs the world, we continuously monitor changes in markets, as well as industry consumer behaviors around the world and our estimates on the latest market trends and forecasts are made. after considering the impact of this pandemic.
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