Affective Computing Market is estimated to reach $90.9 billion by 2026, and is expected to grow at a CAGR of 22.8% during the forecast period from 2021 to 2026.

HYDERABAD, TELANGANA, INDIA, September 21, 2022 /EINPresswire.com/ -- Affective Computing Market is estimated to reach $90.9 billion by 2026, and is expected to grow at a CAGR of 22.8% during the forecast period from 2021 to 2026. The affective computing platform enables a computational device to sense and responds in real-time through artificial emotional intelligence or emotion AI, a user’s non-verbal emotional cues, using video, gesture and moment, physiology and other behavior communicate to the interface. Day-by-day increase demand for virtual assistants, advancement to detect the counter fraudulent activities, and enhanced security in the automotive and banking sectors have contributed ample amount of growth to the overall active computing market. The camera is one of the critical components in the overall affective computing using the application, is estimated to be the fastest-growing segment during the forecast period, and helps to support the affective computing making commercial facilities, public place, and government agencies.

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Key takeaways:

This IndustryARC report on the Affective Computing market highlights the following areas -

1. North America held a major market share of more than 32% in 2020 for the affective computing market, majorly dominated by the U.S. North America is one of the promising regions for some of the most active research machine intelligence and Natural language understanding organizations, engaged in developing technologically advanced computing devices.

2. The speech recognitions software solution is one of the promising sub-segment under the software segment. These analytics software are used to provide different results per the requirement of users. This analytical software majorly compromises of neural analytics and predictive analytics software includes different programming languages such as R and Python that helps to make the netter prediction for the affective computing system.

3. Artificial Intelligence in healthcare has been growing and to have a significant effect to drive the particular application. Babylon-Health is one of the major companies that focuses on healthcare application to offer better services to their customers.

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Segmental Analysis:

1. Healthcare and life science segment are expected to grow at the highest CAGR of 25.3% during the forecast period. The healthcare segment has the potential and having more advanced applications for affective computing.

2. North America region dominated the global Affective Computing market with a share of more than 32.8%, followed by Europe and APAC in 2020. North America is one of the prominent regions to adopt technological advancement include artificial emotional intelligence or emotion AI on an extensive scale.

3. The affective computing market is classified into hardware and software segments. Speech recognition sub-segment is currently dominating the software segment for the affective computing market with a share of 54% of the software market in 2020.

Competitive landscape:

The top 5 players in the Affective Computing industry are:

1. Apple Inc
2. Google Inc
3. Qualcomm Inc
4. Microsoft Corporation
5. Elliptic Labs

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