Affective Computing Market worth $140.0 billion by 2025

According to a research
report “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″ published by MarketsandMarkets, the global affective
computing market size in the post-COVID-19 scenario is projected to grow from
USD 28.6 billion in 2020 to USD 140.0 billion by 2025, at a CAGR of 37.4%
during the forecast period. The major factors driving the market include the growing
demand for voice-enabled virtual assistants, soaring need to counter fraudulent
activities, and enhanced security in the automotive and banking sectors.

Browse and
in-depth TOC on “Affective
Computing Market”

361 – Tables

37 – Figures

305 – Pages

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Based on
technology, the touch-based segment is estimated to lead the market in 2020.

Touch-based
technologies play a crucial role in the deployment of affective computing
solutions. Most of the affective computing technologies need hardware, such as
cameras, sensors, and storage devices, to provide a full-fledged computing
solution, which can analyze various facial expressions. It enables users to
make certain gestures by either touching the device or through the controller
connected to the device.

With most of
the developments taking place in the affective computing market, the market for
touch-based technologies is expected to increase at a healthy CAGR. Some of the
most popular touch- or gesture-based technologies deployed to monitor or detect
human gestures include accelerometers, gyroscopes, or a combination of both.

Based on the
vertical, healthcare & life sciences sector is estimated to grow at the
fastest rate during the forecasted period.

Affective
computing technology plays a vital role in the field of medical emergency and
healthcare. Companies operating in this market integrate affective
computing-related technologies applicable in the healthcare sector by
evaluating not only the emotional state of mind but also pain & medical
conditions that exhibit themselves through facial cues, such as autism and
depression. The technology is a boon to the area of health science, which is
now available for detecting the pain felt by people who are unable to express.
It is ubiquitously understood that emotions and health have interrelation.

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North
America is expected to hold the largest affective computing market share during
the forecast period.

North America is the largest
revenue contributor to the affective computing industry, as the growth in the
region is being driven by the rising internet penetration and increasing
adoption of cloud-based and IoT applications across verticals. Countries in
North America are well-established economies, which enable investments in
advanced technologies.

US and Canada have heavily
invested in R&D activities, contributing to the growth of new technologies.
In addition, massive government funding and a strong technical base help this
region for the growth of the affective computing market. The demand for
affective computing technologies, such as facial feature extraction, analytics
software, and gesture recognition, is increasing across verticals, such as
healthcare and life sciences, automotive, government, and defense.

Market Players

The major vendors covered in the
affective computing market 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).

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Report: https://www.marketsandmarkets.com/Market-Reports/affective-computing-market-130730395.html