Affective Computing Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028

Published Date : Dec 2020 | No. of Pages : 250 Pages | Category : ICT

The global Affective Computing market size is expected to be worth around US$ 192.44 billion by 2028, according to a new report by Vision Research Reports.

The global Affective Computing market size was valued at US$ 20.21 billion in 2020 and is anticipated to grow at a CAGR of 33.01% during forecast period 2021 to 2028.

Growth Factors

Affective computing is being used across a myriad of end-use industries to gauge the emotional states of customers and analyze how these emotional states can influence the buying and selling decisions. The increasing rate of crime and terrorism has particularly increased the adoption of affective computing for security and surveillance purposes. The growing popularity of smart devices and wearables among individuals also bodes well for the growth of the market.

Affective computing helps in detecting human emotions and analyzing the human decision-making process through various human parameters, such as voice, heart rate, and expressions. Film making companies have already been employing algorithms, such as Factorized Variational Autoencoders (FVAEs) to gauge audience responses to different characters in movies. Video games are being developed to offer gamers an improved gaming experience by understanding the gamers’ emotions while playing games. Such diversified usage of the technology is expected to open new growth opportunities for the market over the forecast period.

Report Highlights

The touchless segment is expected to witness the fastest growth over the forecast period as growing awareness toward proper hygiene drives the demand for contact-free sensing. The increasing demand for touchless sensing-based biometric solutions and the continued rollout of smartphones with the latest controlling and tracking functionalities are expected to open new growth opportunities for the touchless segment. Although the growth of the touchless segment is restrained at present owing to the high switchover costs combined with user resistance, the outbreak of the COVID-19 pandemic is gradually paving the way for the adoption of touchless affective computing solutions.

The facial recognition segment is expected to witness the fastest growth over the forecast period. Facial recognition guarantees a high level of safety and has hence been gaining wide acceptance over the past few years. Facial recognition leverages a connected camera or a digital camera to identify the faces in the captured images and compare the features of those faces against the images stored in the database. Authorities are particularly using facial recognition to authenticate the traveler’s identity, particularly in airports. Law enforcement agencies are using facial recognition to scan faces caught in the surveillance cameras to locate the targeted person. The growing need for a high level of safety and security and the capability of facial recognition technology to provide the same is expected to drive the growth of the market over the forecast period.

The camera segment is expected to witness significant growth over the forecast period. Cameras are installed at commercial facilities, government buildings, and other public places and can play a crucial role in affective computing solutions. The rising stakeholder and policy support for pursuing smart city initiatives and the subsequent demand for urban surveillance technologies and advanced technologies for video surveillance systems are expected to open lucrative opportunities for the growth of the cameras segment. The growing concerns over public safety and security, increasing adoption of IP cameras, and the growing adoption of spy cameras by law enforcement agencies also bode well for the growth of the cameras segment. Continued adoption of the latest technologies, such as IoT, big data, AI, and deep learning in video surveillance systems are also expected to open new opportunities for the vendors operating in the market.

The healthcare segment dominated the market in 2019 and accounted for a revenue share of nearly 18%. Healthcare companies are focusing on innovations majorly focusing on advanced patient monitoring tools typically based on facial recognition techniques to monitor the patients. For instance, Empatica, one of the prominent companies in the healthcare industry, offers wearable affective computing devices for healthcare applications. The emotions of patients are interpreted through facial, speech, and body gestures to track their condition in real-time. Medical systems may also be equipped with voice and empathic assistants to annul negative emotions that can have adverse effects on human health and uplift the mood of the patients. The growing adoption of affective computing solutions in healthcare applications is anticipated to fuel the growth of the market.

North America dominated the market in 2019 and accounted for a revenue share of over 30%. North America is home to some of the highly active research organizations involved in developing technically advanced computing devices. The region is also among the leading adopters of next-gen and AI-based technologies on an extensive scale and has been continuously improving the infrastructure with AI to ensure a mature infrastructure ideal for the deployment of affective computing. The increasing adoption of robotics in the region is another factor playing a decisive role in driving the growth of the regional market. The region is also home to technologically advanced and established organizations as well as startups, such as GestureTek, Kairos, Affectiva, and Eyeris, which are offering affective computing solutions in line with the evolving needs of the customers.

Key Players

  • Affectiva

  • Elliptic Laboratories A/S

  • Cognitec Systems GmbH

  • Eyesight Technologies Ltd.

  • Intel Corporation

  • IBM

  • Microsoft Corporation

  • Kairos AR, Inc.

  • Qualcomm Technologies, Inc.

  • Google

Market Segmentation

  • Technology Outlook

    • Touch-based

    • Touchless

  • Software Outlook 

    • Analytics Software

    • Enterprise Software

    • Facial Recognition

    • Gesture Recognition

    • Speech Recognition

  • Hardware Outlook 

    • Cameras

    • Sensors

    • Storage Devices & Processors

    • Others

  • End-use Outlook 

    • Automotive

    • BFSI

    • Government

    • Healthcare

    • IT & Telecom

    • Media & Entertainment

    • Retail & E-commerce

    • Others

  • Regional Outlook 

    • North America

      • The U.S.

      • Canada

    • Europe

      • Germany

      • The U.K.

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

    • The Middle East & Africa

The Affective Computing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Affective Computing market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Affective Computing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Affective Computing market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Affective Computing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Affective Computing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Affective Computing by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Affective Computing market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Affective Computing market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Affective Computing market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Affective Computing industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Affective Computing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Affective Computing market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Affective Computing market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Affective Computing market. These factors have benefited the growth of the global market for Affective Computing. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Affective Computing. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Affective Computing are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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