Affective Computing Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Affective Computing Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : August, 2020 | Technology & Media | PPT format

Report Digest


Global Affective Computing Market: Snapshot

The global affective computing market is envisioned to create high growth prospects on the back of the rising deployment of machine and human interaction technologies. With enabling technologies already making a mark with their adoption in a range of industry verticals, it could be said that the market has started to evolve. Facial feature extraction software collecting a handsome demand in the recent years is expected to augur well for the growth of the deployment of cameras in affective computing systems. Detection of psychological disorders, facial expression recognition for dyslexia, autism, and other disorders in specially-abled children, and various other applications could increase the use of affective computing technology.

Life sciences and healthcare are prognosticated to showcase a promising rise in the demand for affective computing. With surging consumption of authenticating devices and smartphones, the requirement of facial feature extraction software could grow at a higher rate in the coming years. However, operational challenges, extortionate cost of developing affective computing systems, and sluggish rate of digitalization across developing countries are prophesied to act as threats looming over the global affective computing market. Nonetheless, swelling adoption of internet and wearable devices and growing need of business owners to understand customer behavior could produce lucrative opportunities in the near future.

Affective computing is envisaged to witness an increase in the employment of sensors, neural networks, and advanced computing processors due to the faster adoption of the technology. Its quick adoption could be attributed to its incredible processing speed to register and analyze human responses in real-time.

Global Affective Computing Market: Overview 

Affective computing technology involves human-computer interaction wherein a device is capable of detecting and appropriately responding to its users’ emotions. The computing device gathers cues such as posture, speech, gestures, facial expressions, temperature changes, and the rhythm or force of key strokes to detect emotional changes and states of the users. 

By software, facial extraction, speech recognition, enterprise software, gesture recognition, and analytics software can be the key segments of the global affective computing market. On the basis on end-use industries, healthcare, IT, banking, financial services, and insurance (BFSI), defense, academia, government, media and entertainment, retail and e-commerce, automotive, and telecommunication can be the major segments of the market. 

Global Affective Computing Market: Key Trends 

Affective computing can find application across innumerable domains. For instance, Internet-based therapy, though common, cannot give a therapist as many insights into a client’s emotional state as a face-to-face session can. Affective computing, on the other hand, offers much more accuracy in the evaluation of a client’s psychological condition by interpreting his/her facial expressions, posture, and gestures. 

As the focus on user experience has been escalating substantially across every product, service, and even applications such as social computing, art, games, and tools, the demand for affective computing might shoot up. The growing level of digitization and continual advancement of computer science and cognitive science are paving the way for the advent of affective computing.  

Global Affective Computing Market: Market Potential 

The development of innovative technologies and advanced robots featuring affective computing technology has been spurring the growth of the market. For instance, Nao, the robot, is an autism solution for children. The special needs of autistic children are addressed by this novel humanoid, who can play soccer, perform comedy routines, and generate responses from them. Studies have shown that such initiatives resulted in an over 30 % increase in verbal communication and social interactions of these children. The robot was under development since 2004 by France-based Aldebaran Robotics. 

Global Affective Computing Market: Regional Outlook 

By geography, the global market for affective computing can be segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. North America is likely to emerge as the global leader, owing to extensive infrastructural growth and greater adoption of advanced technologies. The U.S., being one of the most technologically advanced countries, might surface as the major contributor. The presence of numerous flourishing industries such as healthcare, e-commerce, and BFSI in countries such as Germany, France, and Italy has ensured the growth of the European market for affective computing. 

Asia Pacific offers maximum growth opportunities for expansion. The robust industrialization in countries such as India and China, the rapid adoption of technology, and the emergence of innovative technologies are some of the key growth drivers of the market.  

Global Affective Computing Market: Competitive Analysis 

Saffron Technology, Microsoft Corporation, IBM Corporation, Cognitec Systems GmbH, Elliptic Labs, Numenta, SightCorp, Google Inc., Eyesight Technologies Ltd., Softkinteic System S.A., Affectiva, Beyond Verbal Communication Ltd., and Pyreos Ltd. are some of the key companies operating in the global market for affective computing. 

Several market players are inclined to adopt business strategies such as product portfolios, mergers, partnerships, collaborations, and acquisitions to strengthen their foothold on a global scale. For instance, in Jan 2016, Apple, Inc. acquired San Diego-based Emotient, which has developed a technology that can detect a user’s emotion from his/her expressions.  

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.