Affective Computing Market Size, Share, And Growth Report 2032

Affective Computing Market: Size

The global Affective Computing market size was worth around USD 3.25 billion in 2023 and is predicted to grow to around USD 7.77 billion by 2032 with a compound annual growth rate (CAGR) of roughly 10.15% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the Affective Computing market on a global and regional level.

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Affective Computing Market: Overview

Affective computing is also referred to as artificial emotional intelligence/emotion AI. It is the development and study of devices that can interpret, recognize, simulate, and process effects created by humans. Affective computing is a mixture of computer science, psychology, and cognitive science.

The affective computing market is gaining popularity across numerous industries, such as healthcare, automotive, and banking, due to the wide affective computing adoption to identify the emotional state of consumers in real-time and analyze how consumers’ mind actually affects the buying/selling of products. Affective computing will help in identifying human emotions and decision-making by studying their one’s expressions, heart rate, voice, and other parameters. Moreover, the accelerating adoption of connected smart devices and increasing penetration of smart wearables and smart devices are expected to further fuel the affective computing market growth. The new innovations initiated by small enterprises are also accelerating the demand for affective computing. Furthermore, low-cost smartphones in the developing economies of China and India are also flourishing this global market. However, security issues, such as information theft, data theft, and susceptibility to malware infections, may curtail the affective computing market development over the forecast time period.

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Affective Computing Market: Segmentation

The study provides a crucial view of the affective computing market by segmenting it based on technology, software, hardware, vertical, and region. All the segments of affective computing market have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

By software, the affective computing market includes gesture recognition, analytics software, facial feature extraction, enterprise software, and speech recognition. Facial feature extraction will hold a significant market share over the predicted time period, as it can process specific regions, landmarks, points, or curves in 2-D or 3-D images. This is useful in various industries, such as media and entertainment, academia and research, government and defense, IT and telecom, healthcare and life sciences, automotive retail and e-commerce, and BFSI.

Affective Computing Market: Report Scope

Affective Computing Market: Regional Analysis

The regional segment comprises the current and forecast demand for the Middle East and Africa, North America, Asia Pacific, Latin America, and Europe.

North America is predicted to hold a notable share in the global affective computing market, owing to the use of affective computing in the healthcare sector to monitor patients. The emotions of patients are communicated through three channels: body gestures, face, and audio, which will help in tracking the current situation/condition of patients. The medical devices are also equipped with empathic and voice assistant that can uplift or alter negative emotions. It is a known fact that emotions have a connection with human health. Frustration, unpleasant stressful situations, depression, and irritation have an intense negative impact on human health. Thus, the use of affective computing in the region’s healthcare sector is anticipated to fuel the affective computing market.

Affective Computing Market: Competitive Players

Some noticeable players of the affective computing market are:

• IBM
• Google
• Saffron Technology
• Microsoft Corporation
• Affectiva
• Softkinteic System
• Eyesight Technologies
• Cognitec Systems
• Elliptic Labs
• Pyreos

The Global Affective Computing Market is segmented as follows:

Global Affective Computing Market: Technology Analysis

• Touch-Based
• Touchless

Global Affective Computing Market: Software Analysis

• Speech Recognition
• Gesture Recognition
• Facial Feature Extraction
• Analytics Software
• Enterprise Software

Global Affective Computing Market: Hardware Analysis

• Sensors
• Cameras
• Storage Devices and Processors
• Others

Global Affective Computing Market: Vertical Analysis

• BFSI
• Media and Entertainment
• Government
• Defense
• Healthcare
• IT and Telecom
• Retail
• Automotive

Global Affective Computing Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa