Affective Computing Market - Global Forecast to 2024: Increasing Government Initiatives to Leverage the Benefits of Emotion AI/Affective Computing Technology

DUBLIN, Dec. 3, 2019 /PRNewswire/ -- The "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 2024" report has been added to ResearchAndMarkets.com's offering.

The global affective computing market size is estimated to grow from USD 22,195 million in 2019 to USD 89,977 million by 2024, at a Compound Annual Growth Rate (CAGR) of 32.3% from 2019 to 2024.

Such growth in the market can be attributed to a revolution among organizations attempting to understand human behavior across industry verticals globally.

Affect is a phenomenon of psychology used to describe the interaction of an organism with stimuli, illustrating various experiences of emotions or feelings. Affective computing is the area of study where AI and cognitive computing are used to gather data related to human emotions, such as joy, sadness, anger, and disgust, and measure them.

A strong inclination toward this segment is driven by promising applications in areas such as Virtual Reality (VR), perceptual interface, affective agents, or recommender systems. Originally, the concept of affective computing was designed to recognize the user's expressions upon interaction with cognitive systems, but the concept has gradually widened further in many new areas, such as speech recognition and gesture recognition. These new application areas have imbued computers with human-like capabilities of interpretation, observation, and generation of interactive features.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Affective Computing Market
4.2 Market, Market Share of Top 3 Verticals and Regions, 2019
4.3 Market, By Technology, 2019-2024
4.4 Market, By Software, 2019-2024
4.5 Market, By Hardware, 2019-2024

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Need for Telehealth-Related Affective Computing Solutions
5.2.1.2 Rising Need for Socially Intelligent Artificial Agents
5.2.1.3 Increasing Adoption of Wearable Devices and Growing Internet Penetration Across Industry Verticals
5.2.1.4 Technological Advancements Across the Globe
5.2.1.5 Growing Need for High Operational Excellence, Increased Resource Utilization, and Enhanced Productivity
5.2.2 Restraints
5.2.2.1 High Production Cost of Affective Computing Systems
5.2.2.2 Gap Between Academic Research and Real-Life Applications
5.2.3 Opportunities
5.2.3.1 Growing Inclination Toward Industry-Specific Solutions
5.2.3.2 Increasing Government Initiatives to Leverage the Benefits of Emotion AI/Affective Computing Technology
5.2.3.3 Growing Adoption of Cloud-Based Applications and Services
5.2.3.4 Growing Number of Partnerships and Widening Ecosystems
5.2.4 Challenges
5.2.4.1 Complex Systems for Emotion Recognition
5.2.4.2 Lack of Knowledge and Awareness and Technical Challenges
5.2.4.3 High Power Consumption of Wearable Computing Devices
5.3 Ethics of Measuring Emotions
5.4 Key Guardrails for Adoption of Affective Computing
5.5 Innovation Spotlight
5.5.1 Neurodata Lab
5.5.2 Emteq
5.5.3 Sensum
5.6 Use Cases
5.6.1 Use Cases: Gaming
5.6.2 Use Cases: Government and Defense
5.6.3 Use Cases: Automotive
5.6.4 Use Cases: High-Tech

6 Affective Computing Market, By Technology
6.1 Introduction
6.2 Touch-Based
6.2.1 Growing Need to Adopt Touch-Based Affective Computing for People Engagement
6.3 Touchless
6.3.1 Rising Demand for High-Security Measures and User Authentication to Drive the Growth of Touchless Technologies

7 Market, By Component
7.1 Introduction
7.2 Software
7.2.1 Rising Implementation of Software-Based Affective Computing for Improved Time and Resource Efficiency
7.3 Hardware
7.3.1 Growing use of Miniaturized Hardware By End Users

8 Market, By Software
8.1 Introduction
8.2 Speech Recognition
8.2.1 Growing use of Speech Recognition Software in the Healthcare and Government Sectors for Implementing Affective Computing Applications
8.3 Gesture Recognition
8.3.1 Increasing Need to Determine Emotional Behavior Through Gesture Recognition Across Verticals
8.4 Facial Feature Extraction
8.4.1 Growing Demand for Fast and Secure User Identification to Fuel the Demand for Facial Feature Extraction
8.5 Analytics Software
8.5.1 Growing Need to Optimize Operations and Increase Productivity to Drive the Demand for Analytics Software
8.6 Enterprise Software
8.6.1 Growing Preference for Standardization of Processes to Drive the Market Growth of Enterprise Software

9 Affective Computing Market, By Hardware
9.1 Introduction
9.2 Sensors
9.2.1 Growing Adoption of Home Healthcare Services to Drive the Affective Computing-Enabled Sensors Industry
9.3 Cameras
9.3.1 Increasing use of Smart Cameras for Security and Surveillance Purposes
9.4 Storage Devices and Processors
9.4.1 Growing Adoption of Solid-State Devices to Drive the Demand for Storage Devices and Processors
9.5 Others

10 Market, By Vertical
10.1 Introduction
10.2 Academia and Research
10.2.1 Enhanced Class Monitoring and Student Engagement to Drive the Adoption of Affective Computing in the Academia and Research Vertical
10.3 Media and Entertainment
10.3.1 Growing Demand for Digital Media Content to Drive the Market Growth in the Media and Entertainment Vertical
10.4 Government and Defense
10.4.1 Increasing Need to Protect Sensitive Data and Ensure the Safety of Citizens to Drive the Adoption of Affective Computing Solutions in the Government and Public Sector
10.5 Healthcare and Life Sciences
10.5.1 Need to Analyze Patient Information to Drive the Market Growth in the Healthcare and Life Sciences Vertical
10.6 IT and Telecom
10.6.1 Growing Demand for Enhanced Customer Experience to Drive the Market Growth in the IT and Telecom Vertical
10.7 Retail and Ecommerce
10.7.1 Increasing Popularity of Wearable Biosensors to Monitor Emotional and Physiological Changes to Drive the Market Growth in the Retail and Ecommerce Vertical
10.8 Automotive
10.8.1 Growing Adoption of Affective Computing to Provide Ease of Access for Drivers in the Automotive Vertical
10.9 Banking, Financial Services, and Insurance
10.9.1 Rising Need for Virtual Assistants and Customer Behavioral Analytics to Drive the Adoption of Affective Computing in the Banking, Financial Services, and Insurance Vertical
10.1 Others

11 Affective Computing Market, By Region

12 Competitive Landscape
12.1 Introduction
12.2 Competitive Leadership Mapping
12.2.1 Visionary Leaders
12.2.2 Dynamic Differentiators
12.2.3 Innovators
12.2.4 Emerging Companies
12.3 Competitive Scenario
12.3.1 New Product Launches and Product Enhancements
12.3.2 Partnerships and Collaborations
12.3.3 Mergers and Acquisitions

13 Company Profiles

• Affectiva
• Apple
• Beyond Verbal
• Cognitec Systems
• CrowdEmotion
• Elliptic Labs
• Eyeris
• Eyesight Technologies
• GestureTek
• Google
• IBM
• Intel
• Kairos
• Microsoft
• Numenta
• nViso
• PointGrab
• Pyreos
• Qualcomm
• Right to Win
• SightCorp
• Sony Depthsensing Solutions

For more information about this report visit https://www.researchandmarkets.com/r/iqejv

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