SAN
FRANCISCO, April 18, 2022 /PRNewswire/ -- A new
market study published by Global Industry Analysts Inc., (GIA) the
premier market research company, today released its report
titled "Affective Computing - Global Market Trajectory &
Analytics". The report presents fresh perspectives on opportunities
and challenges in a significantly transformed post COVID-19
marketplace.
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What's New for 2022?
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shares
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Edition: 9; Released: February
2022
Executive Pool: 24488
Companies: 57 - Players covered include Affectiva
Inc.;Apple Inc.;Cognitec Systems GmbH; Cogito Corporation; Elliptic
Laboratories AS; Eyesight Technologies Ltd.; gestigon GmbH; IBM;
Intel Corporation; Microsoft Corporation; NVISO SA and Others.
Coverage: All major geographies and key segments
Segments: Component (Software, Hardware); End-Use
(Market Research, Media & Advertising, Healthcare &
Lifesciences, Automotive, Other End-Uses)
Geographies: World; United
States; Canada;
Japan; China; Europe
(France; Germany; Italy; United
Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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ABSTRACT-
Global Affective Computing Market to Reach $181.8 Billion by 2026
Affective computing
paves way for devices programmed to quantify and capture emotions
as specific data. Affective computing, also termed as artificial
emotional intelligence or emotion AI, represents an exciting field
encompassing efforts to develop devices and systems programmed for
recognizing, simulating, interpreting and processing human affects.
The interdisciplinary area integrates emerging technologies and
multiple disciplines such as cognitive, psychology, physiology and
computer sciences for enabling devices to recognize emotional cues
via vital signs like facial expression, gesture and posture. The
primary aim of affective computing technology is to simulate
empathy, enabling systems to understand emotional states of users
and accordingly adapt their behavior for giving a suitable response
for such emotions. In contrast to sentimental analysis, affective
analysis identifies various emotions rather than focusing only on
the phrase polarity. Amid the COVID-19 crisis, the global market
for Affective Computing estimated at US$69
Billion in the year 2022, is projected to reach a revised
size of US$181.8 Billion by 2026,
registering a compounded annual growth rate (CAGR) of 28.2% over
the analysis period. The United
States represents the largest regional market for Affective
Computing, and is projected to reach US$46.3
Billion by the close of the analysis period. China is expected to spearhead growth and
emerge as the fastest growing regional market with a CAGR of 37.3%
over the analysis period.
The market is nascent, but is heading for major gains led by
technology advancements and penetration in industries such as
automotive, healthcare, and customer service. The market is
anticipated to receive a significant contribution from impressive
developments and gains for touchless AI models. Factors such as
increasing penetration of connected devices in various end-user
industries along with continuous improvements in enabling affective
computing are expected to propel the market growth. In the coming
years, affective computing is anticipated to find extensive
adoption in a comprehensive array of sectors including healthcare,
market research, automotive, media & advertising, gaming and
e-learning, fueling the market growth. The market is expected to
receive a notable impetus from rising prevalence of smart wearable
devices coupled with growing number of startups and increasing use
of affective computing tools by leading organizations to study and
analyze target consumers. The technology is anticipated to be
extensively used by organizations to study consumers' behavior and
predict their needs by understanding, mapping and analyzing the
behavior and understanding their feelings regarding the service or
product. In addition, growing acceptance of social robots built on
affective computing in industries such as healthcare is expected to
bolster the demand for affective computing solutions. The
increasing applications of the technology in diverse industries are
likely to create immense growth opportunities for the global
affective computing market.
The market also stands to benefit from increasing use of
computing technologies across various sectors, strong focus on
R&D and numerous end-use applications. The affective computing
market receives significant boost from increasing R&D focus on
software technologies coupled with the strong need for
organizations to understand customer behavior. Various businesses
are partnering with providers of affective computing solutions to
support R&D projects intended to develop software technologies
capable of recognizing customer expressions and gestures for
avoiding misinterpretations. Leading companies such as Intel,
CogniTech and Sony Depth-sensing Solutions are investing heavily in
research projects related to facial expression and body gesture.
The market is expected to gain from rapid adoption of the
technology owing to its processing speed to capture and analyze
human responses in real-time. Global adoption of affective
computing is anticipated to be impelled by increasing use of
sophisticated computing processers, sensors and neural networks. In
addition, various companies are expected to leverage affective
computing for developing intelligent systems to enhance
interactions between machines and humans. More
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Phone: 1-408-528-9966
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Email: ZA@StrategyR.com
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SOURCE Global Industry Analysts, Inc.