Affective Computing Market by Technology (Touch-based & Touchless), Software (Speech, Gesture, & Facial Expression Recognition, and others), Hardware (Sensor, Camera, Storage Device & Processor), Vertical, & Region - Forecast to 2020
The continuous advancements in the field of cognitive science and computer science are shaping the way for a new technology named as affective computing. The core function of affective computing system is to capture, store, process, and interpret the human emotions or affects, such as – amusement, contempt, contentment, embarrassment, excitement, guilt, pride of achievement, relief, satisfaction, sensory pleasure, and shame. These rudiments generate enormous amount of valuable data that is present in the dark form (videos, human language, body gesture, and emotions) and generally, traditional data analytics software are not capable enough to process all these data, and to process these kind dark data the concept of affective computing evolved.
An affective computing system is equipped with technology such as natural language processing (NLP), machine learning, and automated reasoning, and emotion analytics that are capable of processing the complex data sets and human emotions. The continuous advancement in the field of gesture recognition, facial expression recognition, and speech analytics can take the affective computing systems market to new heights. Affective computing can immensely contribute in the area of consumer behavior and assist industry verticals like e-commerce & retail and telecom & IT to understand the customer satisfaction level.
The major restraint of this market is the exuberant cost involved in making the affective computing systems while power consumption of wearable computing devices is the biggest challenge this market is facing.
There are various assumptions that we have taken into consideration for market sizing and forecasting exercise. Few of global assumptions include political, economic, social, technological and economic factors. For instance, exchange rates, one of the economic factors, are expected to have a moderate rating of impact on this market. Therefore, dollar fluctuations are expected to not seriously affect the forecasts in the emerging APAC regions.
The report will help the market leaders/new entrants in this market in the following ways –
1. This report segments the market into solutions, covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across the different verticals and regions.
2. This report will help them better understand the competitor and gain more insights to better position their business. There is a separate section on competitive landscape, including competitor ecosystem, mergers and acquisition and venture capital funding. Besides, there are company profiles of 10 players in this market. In this section, market internals are provided that can put them ahead of the competitors.
3. The report helps them understand the pulse of the market. The report provides information on key market drivers, restraints, challenges, and opportunities.
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