Global Affective Computing Market Forecast 2018-2026
The Global Affective Computing market is anticipated to rise at a CAGR of 28.46% for the forecast period of 2018-2026. Factors such as a growing mandate of affective computing applications in various sectors, rising focus on R&D for developing software technologies, and increasing applications for the tech-savvy customers are primarily responsible for driving this market.
The global affective computing market is segmented into four major parts, which includes software and hardware, applications, industrial sectors, and technologies. The software segment includes gesture recognition, speech recognition, facial expression recognition, enterprise software and neural analytics, whereas the hardware segment includes cameras, sensors, and storage. The application for this market includes hands-free computing, social interfaces, virtual sales assistant, distance education and internet banking. The industrial sector segment comprises of psychiatry, security, robotics, neurology, medical, dialog/automatic call centers, etc. The technologies segment for the global market is further segmented into body volume pulse, emotional speech, visual aesthetics, facial affect detection, galvanic skin response, facial electromyography and body gestures.
Geographically, the affective computing market encompasses regions like Asia-Pacific, Europe, North America, and the rest of the world. The Asia-Pacific market is predicted to hold the lion’s share of the market by 2026, owing to the high demand for connected devices and smartphones in the region. Also, the European market is anticipated to exhibit the fastest CAGR on account of the rising trend for recognizing the customer behaviour in order to reap greater business insights, especially post the Euro-Zone crisis.
Microsoft Corporation, a multinational company, mainly develops and manufactures computer software such as XBOX, Microsoft Windows, Microsoft Office, Microsoft Surface, DirectX, etc. for the market. International Business Machines Corporation (IBM) is another well-established company in the market that provides infrastructure, consulting, and hosting services for various market areas. The other prominent market companies include Apple Inc, Affectiva, Cognitec Systems, Congnivue Corporation, Elliptic Labs, Eyesight Technologies, Gestsure Technologies Inc, Intel Corporation, Numenta, Palantir, Pointgrab Ltd, Pyreos Limited, Qualcomm, Sony Depth Sensing solutions, Texas Advanced Computing Centre (Tacc) and Vicon.
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