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Affective Computing Market Explores New Growth Opportunities By 2023

12-27-2017 08:42 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Due to increasing use of smart phones and connected devices, consumer centric businesses are finding new ways to stay ahead in competition by using computing technology. The application of focus group and survey do not provide accurate emotional state of an end-user related to a specific product. Further, their responses may be biased depending upon the surrounding conditions. The emotional state of a consumer can trigger his/her engagement with the brand or product and affect the decision making to buy the product. Therefore, knowing the real-time emotional state can help the businesses to sell their product and thereby increase revenue. Affective computing is a technology which helps in recognizing human decision making through analyzing facial expressions, heart rate, voice and other body parameters.

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Affective computing combine’s cognitive science, psychology and computer science to predict the emotional state of human beings and provides appropriate response to get a favorable outcome. This can help businesses and e-commerce sector to enhance the customer shopping experience and thus sell products effectively. It can also be used in online advertising and advertising kiosk to provide favorable advertisement depending upon the end-user’s emotional state. Affecting computing includes use of emotion analytics engine, machine intelligence, big data and sensors such as camera, head up display to collect and analyze the customer emotion. It also includes software for speech and facial recognition, gesture recognition and neural analytics. Apart from these segments, affective computing also includes device or software that exhibit emotional capabilities, according to the requirement of human being. Affective computing can be applied through wearable system, human machine interface, surveillance system and robotic system. This technology finds its application mainly in autonomous or e-learning system where presentation style of an affective computerized tutor can be changed depending upon the learner’s response. Affective computing is expected to find its application mainly in artificial intelligence as it can help in strengthening machine – human relationship. It can be used as an additional tool in counseling or physiological services which help in determining patient’s metal state.

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The demand for affective computing is expected to increase in coming years due to increasein adoption of wearable devices and internet. Further, there is a strong need for businesses to understand the need of their customer behavior which is expected to drive the affective computing market. Many businesses are collaborating with affective computing providers to boost research and development activities in this area. However, business has to analyze the impact of deploying these systems before inducting in the market. This can pose a challenge for affective computing providers as the application of affective computing differs from business to business and also dependson the product or service.The processing speed of affective computing to record and analyze a human being response in real-time can contribute to the faster adoption of this technology in coming years. Hence, the use of advance computing processers, neural networks and sensors is expected to increase in affective computing.

About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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