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Affective Computing Market Size – USD 28.72 Billion in 2020, Market Growth – at a CAGR of 32.5%, Market Trends – Advancements in technology

VANCOUVER, BC, CANADA, April 18, 2022 /EINPresswire.com/ -- The Global Affective Computing Market Research Report published by Emergen Research is furnished with the latest information about product specifications and portfolio, technological advancement, product type, and manufacturing.

The Global Affective Computing Market size is expected to reach USD 284.73 Billion at a steady CAGR of 32.5% in 2028, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to growing demand for telemedicine and increasing need to remotely assess patient’s health. Remote monitoring of patients is a primary application of telemedicine. Use of affective competing through smart devices such as smart wearables in telemedicine enables a more cost-effective and rapid means of assessing current state and need for medication for a patient at a distance.

In addition, telemedicine providers focusing on specialized areas, including telepsychiatry, can particularly gain from affective computing, which enables psychiatrists/psychologists to comprehend feelings and emotional states of their patients even though the patient is physically not present or are unable to describe their emotions to a psychologist.

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The study churns out some real-time data and offers enough information on the estimated market size, growth, and share to the stakeholders, field marketing personnel and product owners planning to multiply profitability and reduce costs. Importantly, the market intelligence research dives deep into customer preferences, spending capacity and production volume with the aim to ensure unmatched customer delight. A thorough assessment of trends from the yesteryears and future discussed in the report can help business owners identify tweaks that might be needed to the existing business strategy.

The report covers the following companies- Microsoft Corporation, Affectiva, Google LLC, Elliptic Laboratories A/S, Apple Inc., Cognitec Systems GmbH, Sony Depthsensing Solutions, International Business Machine Corporation, Qualcomm Technologies Inc., and Cipia Vision Ltd.

The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Affective Computing market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.

Some Key Highlights from the Report

Speech recognition software helps in analyzing speech features like intonation, vocal pitch, and tone, along with the words that denote a particular sentiment or emotional state. Speech recognition software is particularly beneficial in call centers to detect a caller’s angry voice tone, and transfer such calls to a human operator instead of making the caller interact with an automated system, which might increase their frustration level.

Contactless affective computing technology deploys radio waves to identify a person’s feelings and recognize one emotional states, including sadness, pleasure, anger, and joy. Contactless affective computing technology uses rebounding radio waves to measure an individuals’ heart rate and breathing pattern without even establishing any contact with their body.

Affective computing market in North America accounted for the largest revenue share in 2020, attributed to high adoption of advanced technologies, high implementation of Artificial Intelligence in end-use industries such as BFSI, e-commerce, healthcare, and information technology. In addition, presence of leading providers of affective computing solution providers in countries in the region are causative of the steady market growth.

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Emergen Research has segmented the global affective computing market on the basis of offering, technology, industry vertical, and region:

Offering Outlook (Revenue, USD Billion; 2018–2028)

Hardware

Cameras

Sensors

Storage Devices

Others

Software

Speech Recognition

Facial Feature Extraction

Gesture Recognition

Others

Technology Outlook (Revenue, USD Billion; 2018–2028)

Contactless

Contact-based

Industry Vertical Outlook (Revenue, USD Billion; 2018–2028)

Healthcare

Retail

Automotive

Media & Entertainment

BFSI

IT & Telecommunication

Government

Others

The study segments the Affective Computing industry in light of major classification such as product type, potential markets, application, and end-user. This industry assessment for the forecast period, 2021 – 2028 incorporates projections pertaining to the investment feasibility, gross margin, profits, consumption volume, production capability and major market vendors. Likewise, statistics associated with the competitive landscape, shifting consumer behaviour and spending power is showcased and well-explained with the help of treasured resources such as charts, graphs and graphic images, which can be easily incorporated in the business or corporate presentations.

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Key point summary of the report:

The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.

It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.

The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.

It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.

The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.

The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.

Regional Outlook of Affective Computing Market:

Market segment by region / country:

North America (US, Canada, Mexico, etc.)

Europe (Germany, UK, France, Italy, Russia, Spain, etc.)

Asia Pacific (China, Japan, South Korea, India, Australia, Southeast Asia, etc.)

South America (Brazil, Argentina, Colombia, Chile, etc.)

Middle East and Africa (South Africa, Egypt, Nigeria, Saudi Arabia, etc.)

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