Press release
Affective Computing Market Size, Share Estimation, Business Strategies, Top Trends, Opportunities And Forecast To 2033
Affective Computing Market
The Business Research Company presents an extensive market research report on the Affective Computing Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The affective computing market size has grown exponentially in recent years. It will grow from $62.48 billion in 2023 to $80.4 billion in 2024 at a compound annual growth rate (CAGR) of 28.7%. The growth in the historic period can be attributed to growing adoption of electronic devices, proliferation of gesture-enabled iot devices in smart home automation, growing demand for voice-driven workstations and navigation systems, integration of in-car infotainment systems, rising adoption of advanced electronic devices.
The affective computing market size is expected to see exponential growth in the next few years. It will grow to $218.25 billion in 2028 at a compound annual growth rate (CAGR) of 28.3%. The growth in the forecast period can be attributed to rising internet penetration, adaption of smart wearable device, adoption of gesture-enabled iot devices for smart home automation, increasing use of wearable technology, huge adoption of the cloud based services. Major trends in the forecast period include introduction of new products and technologies, innovation to fulfill consumer demand, need for affective computing research, address communication and emotion regulation challenges.
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Key Market Players:
Major companies operating in the affective computing market report are Amazon.com Inc., Apple Inc., Alphabet Inc., Microsoft Corporation, Sony Group Corporation, Panasonic Corporation, Intel Corporation , International Business Machines Corporation, Qualcomm Technologies Inc., NEC Corporation, Tobii Technology AB, Gorilla Technology Group, Noldus Information Technology, Entropic Technologies, Affectiva Inc., Beyond Verbal Communication Ltd., iMotions A/S, Sentiance NV, audEERING GmbH, Gesturetek Inc., NuraLogix Corporation, NVISO Inc., Numenta Inc., Kairos AR Inc., Cipia Vision Ltd.
Market Drivers:
The growing adoption of Internet of Things (IoT) devices is expected to propel the growth of the affective computing market going forward. IoT devices are nonstandard computing hardware that connect wirelessly to a network and can transmit data. IoT devices are used in affective computing to understand and process human emotions through technology. For instance, in May 2023, according to DataProt, a Republic of Serbia-based cybersecurity information company, it was revealed that by 2030, it is anticipated there will be more than 25.4 billion IoT devices in use and IoT devices are expected to connect to the internet at a rate of 152,200 per minute by 2025. Therefore, the growing adoption of Internet of Things (IoT) devices is driving the growth of the affective computing market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/affective-computing-global-market-report
The affective computing market covered in this report is segmented -
1) By Technology: Touch-Based, Touchless
2) By Component: Hardware, Analytics Software, Cameras, Other Components,
3) By Vertical: Media And Entertainment, Healthcare And Life Sciences, Government And Defense, Banking, Financial Services And Insurance (BFSI), Other Verticals
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