Affective Computing Market Analysis, Size, Latest Development in Manufacturing Technology, Cost Structure and Forecasts to 2027

The Global Affective Computing Market is forecast to reach USD 255.43 Billion by 2027, according to a new report by Reports and Data. Affective computing is the study and development of frameworks and devices that can perceive, interpret, process, and simulate human effect. The study is an interdisciplinary field crossing computer science, cognitive science, and psychology.

Affective Computing Market Size – USD 21.38 Billion in 2020, Market Growth - CAGR of 36.3%, Market Trends – Application in wearable networks and systems.

The affective computing market is getting popular across various ventures, for instance, healthcare, banking, and automotive, due to the wide affective computing adoption to recognize the emotional state of the shoppers in real-time and examine how consumers’ mind really influences the buying or selling of products.

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Affective computing will help in recognizing human emotion and decision making by studying one’s heart rate, voice, expressions, and other parameters. The market for affective computing is influenced by the rising demand and increasing adoption of wearable devices.

Some leading players profiled in the report are:
Google Inc., Microsoft Corporation, IBM Corporation, Apple, Inc., Qualcomm Inc., Eyesight Technologies, Ltd., Elliptic Labs, Affectiva, Pyreos Limited, and Cognitec Systems GmbH among others.

The above-mentioned factors collectively create opportunities for market growth, while factors such as exuberant production cost of affective computing systems pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the affective computing market owing to innovative efforts have enhanced the efficiency of the technology.

The North America region is the largest market for affective computing and is likely to witness a consistent growth during the forecast period. The presence of established and active research organizations in the region that are working toward the development of innovative affective computing technologies are affecting the market positively.

For the purpose of this report, Reports and Data have segmented into the global Affective Computing market on the basis of technology, software, hardware, end-use industries and region:

Technology Outlook (Revenue, USD Billion; 2020–2027)
Touch-based
Touchless

Software Outlook (Revenue, USD Billion; 2020–2027)
Speech Recognition
Gesture Recognition
Facial Feature Extraction
Analytics Software
Enterprise Software

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Hardware Outlook (Revenue, USD Billion; 2020–2027)
Sensors
Cameras
Storage Devices and Processors
Others

End-use Industries Outlook (Revenue, USD Billion; 2020–2027)
Healthcare & Life Sciences
Government & Defense
IT & Telecom
Automotive
Media and Entertainment
Others

Regional Outlook (Revenue, USD Billion; 2020–2027)
North America
Europe
Asia Pacific
MEA
Latin America

Further key findings from the report suggest:
The touch-based segment held a market share of 54.1% in the year 2018. Affective touch, particularly human affective touch, brings a very extraordinary measure of information about distinct emotions in the affective computing field.

The facial feature extraction software segment is forecasted to grow with a CAGR of 36.6% during the forecast period. The growth is attributed to the growing demand for smartphones and other authenticating devices.

Deployment of cameras for affective computing is forecasted to grow with a CAGR of 36.9% during the forecast period, owing to the rising demand in facial feature extraction software.

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The healthcare and life sciences segment held the largest market share of 28.9% in the year 2018 and is forecasted to grow with the highest CAGR of 37.3% during the forecast period. In the healthcare industry, affective computing find various application which includes facial expression recognition for the specially-abled children (dyslexia, autism, and others) and detection of mental disorder.

The North America region held the largest market share of 36.3% in the year 2018. Research organizations, for example, MIT have been concentrated in the locale leading different research ventures which incorporate affective response to haptic signals, automatic stress recognition in real-life scenario and so forth which in turn expands the interests in the region and attract increasing investments for the growth of affective computing.

Table of contents:
Chapter 1 analyzes the Affective Computing Introduction, product offerings, and scope, complete market overview, growth opportunities, market risks, driving forces, and others.

Chapter 2 presents a detailed study of the key manufacturers of Affective Computing, along with sales, revenue, and the price of Affective Computing.

Chapter 3 includes the competitive scenario among the major manufacturers and vendors.

Chapter 4 studies the global Affective Computing market by regions, clubbed with sales, revenue, and market share of Affective Computing, for each region from 2016 to 2026.

Chapters 5, 6, 7, 8 and 9, study the market by region, by type, by application, and by manufacturers, with the sales, revenue, and market share included based on key countries in these regions.

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The Affective Computing Market report is updated with the latest economic scenario with the value, drivers, constraints, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to assess the leading companies.

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This release was published on openPR.