Global Affective Computing Market Growth (Status and Outlook) 2019-2024

Affective computing (also known as artificial emotional intelligence, or emotion AI) is the study and development of systems and devices that can recognize, interpret, process, and simulate human affects. It is an interdisciplinary field spanning computer science, psychology, and cognitive science. While the origins of the field may be traced as far back as to early philosophical inquiries into emotion (“affect” is, basically, a synonym for “emotion.”), the more modern branch of computer science originated with Rosalind Picard’s 1995 paper on affective computing. A motivation for the research is the ability to simulate empathy. The machine should interpret the emotional state of humans and adapt its behavior to them, giving an appropriate response for those emotions.
Two major categories describing emotions in machines are Emotional speech and Facial affect detection. In the forecast perio, Touchless AI models is seeing to is expected to grow at a high rate and hold the largest share of the affective computing market between 2017 and 2025.

Potential applications for affective computing seems limitless. The market for affective computing systems has already started to evolve, with enabling technologies already being adopted across in many areas like market research, healthcare, media & advertisement, automotive, retail, education, communication and so on. In 2017, the healthcare sector recorded the largest market share in terms of affective computing technology implementation, owing to the large number of application areas which include facial expression recognition for the specially abled children (autism, dyslexia, and others) and detection of psychological disorders in this area.

North America is estimated to hold the largest market share (about 33.85%) in 2017 due to the presence of a large number of enterprises deploying affective computing technologies, along with technological advanced scenarios. However, APAC offers the potential growth opportunities for the market to emerge over the coming years and surpass the North American affective computing market in terms of technology adoption. The key factors driving the growth rate in the APAC region include increasing technological implementations and rising smart city investments.

IBM, Microsoft, Eyesight Technologies, Affectiva, gestigon GmbH, Beyond Verbal, nViso SA, and Cogito Corporation, Kairos are some of the major market players in this market. Other prominent vendors include Crowd Emotion, NuraLogix, iMotions, Drive.ai, the Affective Computing Company and etc. Increasing investments in affective computing market and rise in the number of acquisitions of start-ups by leading players such as Affectiva, Eyeris Technologies, IBM, etc., are anticipated to thrive the global market of affective computing over the next few years.

Slow digitization rate across emerging economies, exuberant cost of making affective computing systems, and other operational challenges are the major restraining factors for the growth of the global affective computing market.

According to this study, over the next five years the Affective Computing market will register a 43.0% CAGR in terms of revenue, the global market size will reach US$ 1710 million by 2024, from US$ 200 million in 2019. In particular, this report presents the global revenue market share of key companies in Affective Computing business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Affective Computing market by product type, application, key manufacturers and key regions and countries.

This study considers the Affective Computing value generated from the sales of the following segments:

Segmentation by product type:
Touch-Based
Touchless
Segmentation by application:
Market Research
Healthcare
Media & Advertisement
Automotive
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
IBM
Microsoft
Eyesight Technologies
Affectiva
NuraLogix
gestigon GmbH
Crowd Emotion
Beyond Verbal
nViso
Cogito Corporation
Kairos

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives
To study and analyze the global Affective Computing market size by key regions/countries, product type and application.
To understand the structure of Affective Computing market by identifying its various subsegments.
Focuses on the key global Affective Computing players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Affective Computing with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Affective Computing submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.