The Global Affective Computing Market to Elevate at 28.46% CAGR by 2026
“According to a new market research report published by Inkwood Research, the global affective computing market is growing at a CAGR of 28.46% throughout the forecasting years of 2018-2026.”
“Browse 46 market Data Tables and 64 Figures spread over 260 Pages, along with an in-depth TOC on global affective computing market forecast 2018-2026.”
Affective Computing (AC) or emotion AI, is a technology that helps in recognizing human decision-making process and measure human emotions through analyzing their body parameters like facial expressions, heart rate, speech patterns, and others. Sensors, cameras, big data, machine learning engine are the technologies that support emotion measurement and examination. In the age of smartphones and connected devices to stay ahead in the competition, the AC technology provides new dimensions to consumer-centric businesses. AC helps in humanizing digital interactions and offers numerous benefits across multiple applications, and so industries are widely using the technology and computing devices with AI programming.
Surging Usages of Computing Technologies Develops the Affective Computing Market Globally
The sectors such as healthcare, education, government, eCommerce industry, and others widely use the computing technologies like hands-free computing, distance education, internet banking, virtual sales assistant, and social interfaces to enhance business capabilities. The internet banking application used by government enables customers to access accounts, transfer funds, etc. Also, the healthcare sectors utilize the clinical applications to diagnose, detect, track and treat the diseases. Thus, due to various benefits, these applications of affective computing market are highly adopted, thereby fueling the market growth.
To learn more about this report, request a free sample copy
Rising Demand for Sensors Influence the Global Affective Computing Market
Sensors as a hardware device play a crucial role in affective computing market by providing information about the user’s physical state and behaviour. A sensor is an object that detects changes in the environment and provides corresponding outputs. The broad integration of sensors in wearable devices like Microsoft band & Apple watch along with other devices surges its demand and impact the affective computing market. Also, the growing investments in sensors technologies and the Internet of Things (IoT) are further elevating the market growth.
Asia-Pacific: The Leading Region of the Global Affective Computing Market
In terms of revenue, the Asia-Pacific region dominates the affective computing market owing to increasing demand for wearable devices, growing consumer-centric businesses and rising penetration of internet. Many companies in the area are collaborating with emotional computing providers to boost R&D activities. Also, the high adoption of the technology in the region owes to use of advanced computing processors, neural networks and sensors.
The prominent players in the global market are namely, Affectiva, Congnivue Corporation, Gestsure Tek, Intel Corporation, Palantir, Qualcomm, Vicon, Cognitec Systems, Eyesight Technologies, IBM, Numenta, Pyreos Ltd., Texas Advanced Computing Centre (TACC), Apple Inc., Elliptic Labs, Google Inc., Microsoft, Pointgrab Ltd., and Sony Depthsensing Solution.
The dominant players focus on various strategies like partnerships, collaborations, acquisitions, innovations, and business expansions. The renowned companies have a stronghold in the market as they update their products and maintain a strong relationship with customers, thereby challenging the new entrants in the market.
About Inkwood Research
Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy; with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.