The global market for affective computing is estimated to be at a value of US$ 54 Billion in 2022 and is predicted to reach a value of US$ 938 Billion by 2032. The market is expected to grow at a CAGR of 33% during the forecast period from 2022 to 2032.
Customer interaction solutions that utilize emotional AI-related technologies in retail and healthcare verticals are helping to propel the market growth for affective computing. The development of virtual assistants for entertainment and healthcare applications is also contributing to the market growth of affective computing in general.
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The growing number of psychological disorders and the growing demand for smart wearable devices have led to an increase in demand for affective computing. Voice-activated biometrics are becoming increasingly popular as a security solution, allowing authorized users to perform transactions, promoting the use of affective computing technologies worldwide.
Key Takeaways:
- The market for affective computing is expected to grow at a 33% CAGR from 2022 to 2032.
- The global hardware components market is forecast to grow at a CAGR of 31.5% over the forecast period.
- Touch-based affective computing technologies are projected to grow at a CAGR of 30.1% during the forecast period.
- U.S. market is predicted to reach US$ 303.2 Billion while growing at a CAGR of 32.3% during the forecast period.
- China is expected to reach a CAGR of 32.1% in 2032 during the forecast period.
- Market size in Japan is expected to reach US$ 52.1 Billion by 2032.
Competitive Landscape
Key Players that have been profiled in the report are Google, Microsoft, IBM, Apple, Qualcomm, Intel, Sony Depthsensing solutions, Affectiva, Elliptic Lans, and Numenta. As a strategy to achieve a recognized and profitable business position, companies are engaging in a variety of activities, including new product launches, research and development, patents, approvals, conferences, collaborations, mergers, and acquisitions.
- In March 2021, Nemesysco, and Spire Solutions, a leading value-added distributor in the Middle East and Africa, have signed a partnership agreement that allows Spire Solutions to distribute Nemesysco’s voice analytics in the Gulf Region. In the United Arab Emirates, Spire Solutions will initially promote Nemesysco’s Layered Voice Analysis (LVA) technology for human resources.
- In February 2021, IBM announced that Safexpress, IIndia’sleading supply chain & logistics company, has deployed ‘’PROPEL-i,’’ a cloud-native end-to-end logistics platform jointly developed by IBM and Safexpress. The digital platform enables the company to manage demand more agilely, to gain more flexibility and advanced modeling capabilities, and to provide improved visibility and transparency to customers.
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Key Segments
By Components
- Software
- Speech Recognition
- Gesture Recognition
- Facial Feature Extraction
- Analytics Software
- Enterprise Software
- Hardware
- Sensors
- Cameras
- Storage Devices and Processors
- Others
By Technologies
- Touch-based
- Touchless
By Verticals
- Academia and Research
- Media and Entertainment
- Government and Defense
- Healthcare and Life Sciences
- IT and Telecom
- Retail and E-Commerce
- Automotive
- BFSI
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
More Valuable Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the global affective computing market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
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https://bipolarjungle.mn.co/posts/23940965
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