Affective Computing Market Estimated to Grow at a CAGR of 43.0% During The Forecast Period from 2018 to 2023 - IBM, Microsoft, Eyesight Technologies, Affectiva, gestigon GmbH, Beyond Verbal, nViso SA, and Cogito Corporation and Kairos

Global Affective Computing Market Research Report has been analyzed in detail to assist clients with all the vital data to frame tactical business judgments and propose strategic growth plans.

Affective computing (also known as artificial emotional intelligence, or emotion AI) is the study and development of systems and devices that can recognize, interpret, process, and simulate human affects. It is an interdisciplinary field spanning computer science, psychology, and cognitive science. While the origins of the field may be traced as far back as to early philosophical inquiries into emotion (“affect” is, basically, a synonym for “emotion.”), the more modern branch of computer science originated with Rosalind Picard’s 1995 paper on affective computing. A motivation for the research is the ability to simulate empathy. The machine should interpret the emotional state of humans and adapt its behavior to them, giving an appropriate response for those emotions.

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IBM, Microsoft, Eyesight Technologies, Affectiva, gestigon GmbH, Beyond Verbal, nViso SA, and Cogito Corporation, Kairos are some of the major market players in this market. Other prominent vendors include Crowd Emotion, NuraLogix, iMotions, Drive.ai, the Affective Computing Company and etc. Increasing investments in affective computing market and rise in the number of acquisitions of start-ups by leading players such as Affectiva, Eyeris Technologies, IBM, etc., are anticipated to thrive the global market of affective computing over the next few years.

Two major categories describing emotions in machines are Emotional speech and Facial affect detection. In the forecast perio, Touchless AI models is seeing to is expected to grow at a high rate and hold the largest share of the affective computing market between 2017 and 2025.

Potential applications for affective computing seems limitless. The market for affective computing systems has already started to evolve, with enabling technologies already being adopted across in many areas like market research, healthcare, media & advertisement, automotive, retail, education, communication and so on. In 2017, the healthcare sector recorded the largest market share in terms of affective computing technology implementation, owing to the large number of application areas which include facial expression recognition for the specially abled children (autism, dyslexia, and others) and detection of psychological disorders in this area.

North America is estimated to hold the largest market share (about 33.85%) in 2017 due to the presence of a large number of enterprises deploying affective computing technologies, along with technological advanced scenarios. However, APAC offers the potential growth opportunities for the market to emerge over the coming years and surpass the North American affective computing market in terms of technology adoption. The key factors driving the growth rate in the APAC region include increasing technological implementations and rising smart city investments.

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Slow digitization rate across emerging economies, exuberant cost of making affective computing systems, and other operational challenges are the major restraining factors for the growth of the global affective computing market. Over the next five years, Affective Computing will register a 43.0% CAGR in terms of revenue, reach US$ 1710 million by 2023, from US$ 200 million in 2017.

This report presents a comprehensive overview, market shares and growth opportunities of Affective Computing market by product type, application, key companies and key regions.

Market Segments:

Segmentation by product type:
· Touch-Based
· Touchless

Segmentation by application:
· Market Research
· Healthcare
· Media & Advertisement
· Automotive
· Others

This report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

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