The global affective computing market is forecast to reach USD 255.43 Billion by 2026, according to a new report by Reports and Data. Affective computing is the study and development of frameworks and devices that can perceive, interpret, process, and simulate human effect. The study is an interdisciplinary field crossing computer science, cognitive science, and psychology. The affective computing market is getting popular across various ventures, for instance, healthcare, banking, and automotive, due to the wide affective computing adoption to recognize the emotional state of the shoppers in real-time and examine how consumers’ mind really influences the buying or selling of products. Affective computing will help in recognizing human emotion and decision making by studying one’s heart rate, voice, expressions, and other parameters. The market for affective computing is influenced by the rising demand and increasing adoption of wearable devices.
The above-mentioned factors collectively create opportunities for market growth, while factors such as exuberant production cost of affective computing systems pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the affective computing market owing to innovative efforts have enhanced the efficiency of the technology.
The North America region is the largest market for affective computing and is likely to witness a consistent growth during the forecast period. The presence of established and active research organizations in the region that are working toward the development of innovative affective computing technologies are affecting the market positively.
To download a PDF sample copy of the report, visit @ https://www.reportsanddata.com/sample-enquiry-form/2216
The increasing application of affective computing in the healthcare sector has indeed been a driving factor for the growth of the global affective computing market. Affective computing involves the development of technologies that can recognize, interpret, and respond to human emotions. In the healthcare industry, these technologies are being utilized to help doctors better understand mentally disabled patients, thereby improving the quality of care and treatment provided.
The healthcare industry is experiencing rapid growth globally and is one of the most exported products in the world. Developing regions, in particular, are investing significantly in the international healthcare market, which includes the adoption of affective computing solutions. The integration of affective computing technology in healthcare settings offers immense potential for enhancing patient care, treatment outcomes, and overall patient experience.
Asia Pacific stands out as a key region for the affective computing market, and it is expected to witness significant growth in the forecast period. The region’s large and growing population provides a substantial market for healthcare services and technologies. Additionally, there is a rising adoption of wearable devices in the region, which can further facilitate the implementation of affective computing solutions.
Moreover, advancements in technologies are being developed across the Asia Pacific region, which further drives the growth of the affective computing market. Key players in the region are focusing on new technological developments to support the market’s expansion. These advancements contribute to the development of more sophisticated and accurate affective computing systems, enabling better analysis and interpretation of human emotions.
Top Companies Operating in the Global Affective Computing Market:
Google Inc., Microsoft Corporation, IBM Corporation, Apple, Inc., Qualcomm Inc., Eyesight Technologies, Ltd., Elliptic Labs, Affectiva, Pyreos Limited, and Cognitec Systems GmbH among others.
In summary, the increasing application of affective computing in the healthcare sector, along with the rapid growth of the healthcare industry, particularly in developing regions, has propelled the growth of the global affective computing market. The Asia Pacific region, in particular, is witnessing significant growth due to its growing population, adoption of wearable devices, and technological advancements.
Inquiry before buying @ https://www.reportsanddata.com/inquiry-before-buying/2216
The global market is further segmented into type and application:
Technology Outlook ( Revenue, USD Billion; 2016-2026)
Software Outlook ( Revenue, USD Billion; 2016-2026)
- Speech Recognition
- Gesture Recognition
- Facial Feature Extraction
- Analytics Software
- Enterprise Software
Hardware Outlook ( Revenue, USD Billion; 2016-2026)
- Storage Devices and Processors
End-use Industries Outlook ( Revenue, USD Billion; 2016-2026)
- Healthcare & Life Sciences
- Government & Defense
- IT & Telecom
- Media and Entertainment
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further key findings from the report suggest
- The touch-based segment held a market share of 54.1% in the year 2018. Affective touch, particularly human affective touch, brings a very extraordinary measure of information about distinct emotions in the affective computing field.
- The facial feature extraction software segment is forecasted to grow with a CAGR of 36.6% during the forecast period. The growth is attributed to the growing demand for smartphones and other authenticating devices.
- Deployment of cameras for affective computing is forecasted to grow with a CAGR of 36.9% during the forecast period, owing to the rising demand in facial feature extraction software.
- The healthcare and life sciences segment held the largest market share of 28.9% in the year 2018 and is forecasted to grow with the highest CAGR of 37.3% during the forecast period. In the healthcare industry, affective computing find various application which includes facial expression recognition for the specially-abled children (dyslexia, autism, and others) and detection of mental disorder.
- The North America region held the largest market share of 36.3% in the year 2018. Research organizations, for example, MIT have been concentrated in the locale leading different research ventures which incorporate affective response to haptic signals, automatic stress recognition in real-life scenario and so forth which in turn expands the interests in the region and attract increasing investments for the growth of affective computing.
Request a customized copy of the report @ https://www.reportsanddata.com/request-customization-form/2216
Thank you for reading our report. We also offer customized report as per client requirement. Kindly connect with us to know more about customization plan and our team will offer you the altered report.
Explore More Industry Research by Reports and Data:
Managed Wi-Fi Market – https://www.reportsanddata.com/report-detail/managed-wi-fi-market
Software-Defined Wide Area Network (SD WAN) Market – https://www.reportsanddata.com/report-detail/software-defined-wide-area-network-sd-wan-market
Aerospace Fastener Market – https://www.reportsanddata.com/report-detail/aerospace-fastener-market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370