DUBLIN--(BUSINESS WIRE)--The "Affective Computing Market by Technology (Touch-based and Touchless), Component (Software (Speech Recognition and Gesture Recognition) and Hardware (Sensors, Cameras, and Storage Devices and Processors)), Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global affective computing market is projected to grow from USD 28,560 million in 2020 to USD 139,992 million by 2025, at a Compound Annual Growth Rate (CAGR) of 37.4% during the forecast period considering the post-COVID-19 scenario.
Deployment of emotion AI-related technologies in customer interaction solutions across retail and healthcare verticals and growing adoption of virtual assistants for healthcare and entertainment purposes are driving the overall growth of the affective computing market.
Technological advancements, along with the rising adoption of advanced electronic devices, are projected to stimulate the growth of the market during the forecast period. Voice-activated biometrics used for security purposes help in providing access to authenticated users for performing a transaction, therefore, surging the use of affective computing solutions across the globe.
By component, the software segment is estimated to hold a larger market size than the hardware segment in 2025.
The increasing need to capture customer behavior & personality, the demand for software platforms for the provision of efficient learning tools in educational institutes, and the rapidly growing use of supportive tools for medical emergencies are the major drivers that have bolstered the software providers to offer effective computing software platforms.
Growing virtualization across industries and the adoption of cloud computing is promoting the demand for software-based affective computing solutions in various countries. Moreover, software installations are suitable for business entities that are dynamic in nature and usually have a limited budget allocated for deploying new infrastructure.
By software, facial feature extraction is expected to register a higher growth rate than any other software segments during the forecast period in the affective computing market.
Facial recognition is a type of biometric software that is used to scan, store, and recognize human faces by comparing digital images with those stored in databases. One of the major advantages of facial recognition is that it enables the identification of a person by comparing a person's image with that stored in the database, resulting in a higher level of security. Facial recognition has found increasing usage where it is used by defense personnel to identify criminals and by enterprises to identify personnel to prevent any unauthorized use of the enterprise resources.
The Asia Pacific affective computing market is expected to register the highest growth rate during the forecast period.
APAC has witnessed advanced and dynamic adoption of new technologies and expected to record the highest CAGR in the global affective computing market during the forecast period. APAC constitutes major economies, such as China, India, Japan, and Australia, which are expected to register high growth in the affective computing industry.
Verticals, such as healthcare and life sciences, government, and IT and telecom, are expected to adopt affective computing solutions at the highest rate in the region. Companies operating in APAC would benefit from the flexible economic conditions, industrialization-motivated policies of the governments, as well as from the growing digitalization, which is expected to have a significant impact on the business community.
The market study covers the affective computing market size across segments. It aims at estimating the market size and the growth potential of this market across different segments by technology, component, software, hardware, vertical, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Major vendors offering affective computing solutions include Google (US), Microsoft (US), IBM (US), Apple (US), Qualcomm (US), Affectiva (US), Elliptic Labs (Norway), Eyesight Technologies (Israel), Sony Depthsensing Solutions (Belgium), Intel (US), Pyreos (UK), Cognitec Systems (Germany), Beyond Verbal (Israel), GestureTek (Canada), SightCorp (Noord-Holland), CrowdEmotion (UK), Kairos (US), nViso (Switzerland), PointGrab (US), Eyeris (US), Numenta (US). The affective computing market study includes an in-depth competitive analysis of these key market players, along with their profiles, recent developments, and key market strategies.
Key Topics Covered
1 Introduction to COVID-19
1.1 COVID-19 Health Assessment
1.2 COVID-19 Economic Assessment
1.3 Objectives of the Study
1.4 Market Definition
1.5 Market Scope
1.6 Years Considered for the Study
1.7 Currency Considered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Affective Computing Market
4.2 Affective Computing Market, Market Share of Top 3 Verticals and Regions, 2020
4.3 Affective Computing Market, by Component, 2020-2025
4.4 Affective Computing Market, by Software, 2020-2025
4.5 Affective Computing Market, by Hardware, 2020-2025
5 Market Overview and Industry Trends
5.2 Market Dynamics
126.96.36.199 Growing Need for Telehealth-Related Affective Computing Solutions
188.8.131.52 Rising Need for Socially Intelligent Artificial Agents
184.108.40.206 Increasing Adoption of Wearable Devices and Growing Internet Penetration Across Industry Verticals
220.127.116.11 Technological Advancements Across the Globe
18.104.22.168 Growing Need for High Operational Excellence, Increased Resource Utilization, and Enhanced Productivity
22.214.171.124 High Production Cost of Affective Computing Systems
126.96.36.199 Gap Between Academic Research and Real-Life Applications
188.8.131.52 Growing Inclination Toward Industry-Specific Solutions
184.108.40.206 Increasing Government Initiatives to Leverage the Benefits of Emotion Ai/Affective Computing Technology
220.127.116.11 Growing Adoption of Cloud-Based Applications and Services
18.104.22.168 Growing Number of Partnerships and Widening Ecosystems
22.214.171.124 Complex Systems for Emotion Recognition
126.96.36.199 Lack of Knowledge and Awareness and Technical Challenges
188.8.131.52 High Power Consumption of Wearable Computing Devices
5.3 COVID-19 Pandemic-Driven Market Dynamics and Factor Analysis
5.3.1 Drivers and Opportunities
5.3.2 Restraints and Challenges
5.4 Ethics of Measuring Emotions
5.5 Key Guardrails for Adoption of Affective Computing
5.6 Innovation Spotlight
5.6.1 Neurodata Lab
5.7 Use Cases
5.7.1 Use Cases: Gaming
5.7.2 Use Cases: Government and Defense
5.7.3 Use Cases: Automotive
5.7.4 Use Cases: High-Tech
6 Affective Computing Market, by Technology
7 Affective Computing Market, by Component
8 Affective Computing Market, by Software
8.2 Speech Recognition
8.3 Gesture Recognition
8.4 Facial Feature Extraction
8.5 Analytics Software
8.6 Enterprise Software
9 Affective Computing Market, by Hardware
9.4 Storage Devices and Processors
10 Affective Computing Market, by Vertical
10.2 Academia and Research
10.3 Media and Entertainment
10.4 Government and Defense
10.5 Healthcare and Life Sciences
10.6 IT and Telecom
10.7 Retail and Ecommerce
10.9 Banking, Financial Services, and Insurance
11 Affective Computing Market, by Region
11.2 North America
11.5 Rest of the World
12 Competitive Landscape
12.2 Competitive Leadership Mapping
12.2.1 Visionary Leaders
12.2.2 Dynamic Differentiators
12.2.4 Emerging Companies
12.3 Competitive Scenario
12.3.1 New Product Launches and Product Enhancements
12.3.2 Partnerships and Collaborations
12.3.3 Mergers and Acquisitions
13 Company Profiles
13.2.1 Business Overview
13.2.2 Products Offered
13.2.3 Recent Developments
13.2.4 SWOT Analysis
13.8 Elliptic Labs
13.9 Eyesight Technologies
13.10 Sony Depthsensing Solutions
13.13 Cognitec Systems
13.14 Beyond Verbal
13.23 Other Related Companies
13.24 Right to Win
14 Adjacent Markets
14.1 Introduction to Adjacent Markets
14.3 Affective Computing Ecosystem and Adjacent Markets
14.4 Edge AI Software Market
14.4.1 Edge AI Software Market, by Data Source
14.4.2 Edge AI Software Market, by Vertical
14.5 Facial Recognition Market
14.5.1 Facial Recognition Market, by Software Tool
14.5.2 Facial Recognition Market, by Vertical
14.6 Emotion Detection and Recognition Market
14.6.1 Emotion Detection and Recognition Market, by Software Tool
14.6.2 Emotion Detection and Recognition Market, by Application Area
For more information about this report visit https://www.researchandmarkets.com/r/phkma5