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Human-Computer Interaction Global Market Analysis, Trends, Growth, Research And Forecast 2033
Human-Computer Interaction Global Market Analysis
According to The Business Research Company's, The human-computer interaction market size has grown rapidly in recent years. It will grow from $668.36 billion in 2023 to $789.00 billion in 2024 at a compound annual growth rate (CAGR) of 18.0%. The growth in the historic period can be attributed to rise of mobile computing, growth of usability testing and evaluation, expansion of augmented reality, rise of social media platforms, and rise of graphical user interfaces.
The human-computer interaction market size is expected to see rapid growth in the next few years. It will grow to $1,555.50 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The growth in the forecast period can be attributed to rising demand for wearable devices, growing voice user interfaces, expansion of internet of things, demand for context-aware computing, and demand for personalized user experiences. Major trends in the forecast period include biometric authentication, blockchain integration, IoT integration, integration of AI, and gamification.
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Market Drivers and Trends:
The increasing adoption of internet of things (IoT) solutions is expected to propel the growth of the human-computer interaction market going forward. The internet of things is an interconnected network of physical devices equipped with sensors, software, and networking capabilities to gather, exchange, and act upon data. The demand for internet of things (IoT) solutions is rising due increasing connectivity, data analytics, artificial intelligence (AI), and consumer demand for smart devices. Human-computer interaction (HCI) focuses on designing intuitive interfaces and interaction methods that allow users to effortlessly communicate with and control IoT devices, access data, and manage settings. For instance, in September 2023, according to a report published by Ericsson, a Sweden-based telecommunications service provider, there were 15.7 billion IoT connections in 2023, which is expected to increase by 16% to reach 38.9 billion connections by 2029. Therefore, the increasing adoption of IoT solutions is driving the growth of the human-computer interaction market.
Major companies operating in the human-computer interaction market are focused on developing advanced technology, such as D-ID Agents, to enhance user experiences, optimize task efficiency, and personalize interactions in various domains. D-ID Agents is an interactive natural user interface (NUI) product using large language models for multiple applications such as sales, assistance, and education. For instance, in December 2023, D-ID AI, a US-based video startup specializing in patented video reenactment technology, launched D-ID Agents, a breakthrough in human-computer interaction for creating interactive digital humans. This will enable users to communicate with technology through face-to-face conversations, representing a significant shift from traditional textual and graphical user interfaces. Businesses can offer customized interactions globally by creating diverse Agents with varied characteristics and multilingual capabilities, while advanced development options through D-ID's API enable scalability and customization for enterprise users, and SMBs and creators benefit from features in the creative reality studio.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Amazon.com Inc., Apple Inc., Google LLC, Microsoft Corporation, Meta Platforms Inc., Dell Technologies Inc., Tencent Holdings Ltd., Sony Corporation, LG Electronics Inc., Intel Corporation, Panasonic Corporation, International Business Machines Corporation, NVIDIA Corporation, Texas Instruments Incorporated, Infineon Technologies AG, Microchip Technology Inc., HaptX Inc., GestureTek, Ommo Technologies Pvt. Ltd., Cogniac Corporation, TANGI0 LTD
Human-Computer Interaction Market 2024 Key Insights:
• The human-computer interaction market size is expected to see rapid growth in the next few years. It will grow to $1,555.50 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%.
• IoT's Role In Fueling The Human-Computer Interaction Market Growth
• Revolutionizing Human-Computer Interaction With Interactive Digital Agents
• Asia-Pacific was the largest region in the human-computer interaction market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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