Affective Computing Market Scope
Due to the increasing use of smartphones and connected devices, consumer-centric businesses are identifying new ways to remain in competition by using computing technology. The emotional state of a consumer can trigger his/her engagement with the brand or product and affect the decision making to buy the product. Affective computing (sometimes called artificial emotional intelligence or emotion Artificial Intelligence) is a technology which helps in recognizing human decision by analyzing facial expressions, heart rate, voice and other body parameters. It is an interdisciplinary field spanning computer science, psychology, and cognitive science. Further, With the increasing adoption of wearable devices and internet there is a demand for Affective Computing and these factors are in turn driving the market.
According to AMA, the Global Affective Computing market is expected to see growth rate of 28.46%
The market is fragmented with top players who are involved in launching new products for technologies like Affective Computing. Moreover, Computer scientists and major players in the market are also inclined towards putting more efforts on affective computing to develop a highly intelligent computing system, which enriches the proactive and intelligent human machine interaction. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Affective Computing market throughout the predicted period.
Google Inc. (United States), Microsoft Corporation (United States), IBM Corporation (United States), Saffron Technology (United States), Eyesight Technologies Ltd. (Israel), GestureTek (Canada), SightCorp (Netherlands), Beyond Verbal Communication Ltd. (Israel), Numenta (United States) and Pyreos Ltd. (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Affectiva (United States), Cognitec Systems GmbH (Germany), Softkinteic System S.A. (Belgium), Elliptic Labs (Norway) and Empactica (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Affective Computing market by Type (Software and Hardware), by Application (Hands-Free Computing, Social Interfaces, Virtual Sales Assistant, Distance Education, Internet Banking and Other) and Region with country level break-up.
On the basis of geography, the market of Affective Computing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
May 2018, Empatica began deployed a smart device which can be used to manage stress. The device has been modeled similar to a watch and has received Food And Drug approval. and The device analyzes physiological signals to detect an increase in the stress inside the body and prevent seizures due to diseases such as epilepsy etc.
Market Trend
- The Advent of Affective Computing
- Growing Artificial intelligence in Autonomous cars, Logistics and Parking aid Software, surgical robots etc.
Market Drivers
- The Increasing Need for Data Archiving Tools to Organize the Data Generated From Varied End-Use Sectors
- Rising Demand for Expression Recognition Technique and Wearable Devices
- Growing Number of Connected Devices and Technologies
Opportunities
- Growing Focus on R&D for Developing Software Technologies
Restraints
- High Production Costs May Hamper the Market Growth
Challenges
- Lack of Standardization of Affective Computing System
Key Target Audience
Market Research Firms, E-Learning, E-Therapy, Gaming, Acting Industries, Animation and CGI Firms, Car Manufacturers, Healthcare Sector, Product R&D Departments and E-Commerce Players