Affective Computing Market To Reach USD 180.7 Billion By 2027

Global Affective Computing Market: Key Highlights

According to the new market research report “Affective Computing Market by Component (Hardware, Software), by Technology (Touch-Based, Touchless), by Software (Analytics Software, Enterprise Software, Facial Recognition, Gesture Recognition and Speech Recognition), by Hardware (Cameras, Sensors and Others), by End-User (Automotive, BFSI, Government, Healthcare, IT & Telecom, Media & Entertainment, Retail & E-commerce, and others), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2020 to 2027)”, the global Affective Computing Market is estimated to reach USD 180.7 Billion by 2027 at a CAGR of around 37.2% during the review period.
The computing device with the emotion AI programming is collecting information about the consumer emotional condition from the various sources such as posture, speech pattern, facial expressions, heart rate, as well as by body temperature.
Moreover, the technology such as cameras, big data, deep learning, camera, and sensors which lead to support the emotion measurement and analysis. These will lead to boost the growth of the affective computing market in the forecast period.

Affective Computing Market Global Affective Computing Market: Key Market Dynamics

With the increasing demand for advanced electronic devices is witness to boost the growth of the market in the forecast period. Whereas, the affective computing is being rising growth in the technologies as well as for the process with intelligent interaction in between devices and human.
One of the major key concern of the market is the lack of awareness which may hamper the market growth. Whereas, it create a major challenge in the market as there is still lack of understanding and knowledge about how the affective computing will affect the business processes.
Growing adaption of smart wearable devices, growing adoption of Artificial Intelligence (AI) as well as the rising growth of connected devices and smartphones is a key role for the growth of the affective computing market in the forecast period.
Privacy and security concern is act as a major restraining factor for the growth of the market in the forecast period.

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Global Affective Computing Market: Regional Overview

North America:

The North America regional is anticipate to have a significant growth with the rising developed technological. Whereas, the various market player in the region GestureTek, Kairos, Eyeris, as well as the start-ups in the region, are improving the affective computing solutions and services for the customer needs. However, the region affective computing market in terms of technology adoption, owing to rising investment in security infrastructure and rising demand for wearable devices. Hence, these trend will lead to enhance the growth of the market in the forecast period.

Asia-Pacific:

The Asia-Pacific is projected of play a leading role for the growth and developments of the market in the forecast period. Whereas, growing in adoption in new emerging technologies such as AI, machine learning and IoT and initiative taken by the government may lead to create a major impact for the growth of the market. However, various countries in the region are pursuing initiatives for electronic ID generation of the citizens. The rising demand of the smartwatches as well as the smart wearable devices in the countries such as China will create significant growth for the market adoption.

Hence, the rapid growing information and communications technology platform in the countries such as China and India, lead to fuel the growth of the market in the forecast period.

Global Affective Computing Market: Key Players Overview

Microsoft:

Microsoft Corporation is an American multinational technology company, which develops, manufactures, and sells computer software, consumer electronics, and personal computers. Whereas, in 2019, the company had launched four free “Eyes First” games for people with speech and mobility disabilities. As well as, in 2018 the company had signed an agreement to acquire XOXCO, a company with conversational AI and bot development capabilities.

Affectiva:

Affectiva is a MIT Media Lab spin-off, is the pioneer in Emotion AI, the next frontier of artificial intelligence. Whereas, in 2019, the company partnered with Aptiv PLC to improve the next-generation vehicle experience. Hence, these will helps to deliver innovative and scalable software, from deep learning platform to advance the perception capabilities in advanced safety solutions. Moreover in 2018, the company unveiled Mobile Lab with automotive AI technology.

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