The global affective computing market size is projected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the ongoing technological advancements along with the rising implementation of modernized electronic devices all around the world.
Affective computing is a branch of computer science connected to cognitive computing and Artificial Intelligence (AI). It helps in measuring human emotions using data gathered from face expressions, voice inputs, and body language. Furthermore, the invention of computer devices with emotional assessment capabilities for replicating human emotions is a major area of progress in the affective computing business.
Furthermore, this technology assists companies in improving client shopping experiences in order to sell products and services effectively. In addition, it can be utilized in internet advertising and advertising kiosks to deliver more favorable advertisements based on the emotional state of the end-user. Emotion analytics engine, machine intelligence, big data, and sensors are used in affecting computing to collect and analyze client emotion.
Moreover, wearable systems, human machine interfaces, surveillance systems, and robotic systems are being used to implement affective computing. Additionally, this technique is commonly used in autonomous or e-learning systems, where an affective computerized tutor's presenting style can be altered according to the learner's response. On the other hand, affective computing is projected to be used primarily in artificial intelligence, as it can strengthen the machine-human interaction.
Due to the COVID-19 pandemic outbreak, numerous organizations have suspended employee biometric attendance. Therefore, many technologies that can potentially eliminate physical encounters have emerged. On the other hand, lockdowns are coming to an end in most parts of the world and businesses are progressively restarting operations from their locations. Furthermore, organizations are leveraging technology such as facial feature recognition and camera sensors for temperature sensing with affective computing solutions to stop the virus from spreading.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing implementation of autonomous cars, artificial intelligence (AI) in logistics, parking aid software, and surgical robots is expected to boost the market growth during the forecast period.
- Rising usage of high speed internet, availability of high-resolution cameras, and the growing adoption of machine learning (ML) are fueling the market expansion in the coming years.
- Ongoing technological advancements in computing processers, neural networks and sensors is expected to boost the market growth.
- Growing concerns related to technological compatibility and high cost involved in technology implementation are some of the key restraining factors challenging the market expansion.
- Increasing stakeholder and policy support for smart city efforts and growing demand for advanced video surveillance systems are anticipated to provide lucrative opportunity for market during the forecast period.
Scope of Affective Computing Market Report
The report on the global affective computing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Affective Computing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Hardware (Storage Devices & Processors, Sensors, Cameras, and Others), Software (Speech Recognition, Analytics Software, Gesture Recognition, Facial Recognition, and Enterprise Software), Technology (Touchless and Touch-based), and End-users (Government, IT & Telecommunication, Retail & E-commerce, Automotive, Media & Entertainment, Healthcare, BFSI, and Others
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Google; Affectiva; Qualcomm Technologies, Inc.; Elliptic Laboratories A/S; Kairos AR, Inc.; Cognitec Systems GmbH; Microsoft; Eyesight Technologies Ltd.; IBM; and Intel Corp.
Affective Computing Market Segment Insights
Sensor segment is expected to grow at a rapid pace
Based on hardware, the global affective computing market is segmented into storage devices & processors, sensors, cameras, and others. The sensor segment is expected to grow at a rapid pace during the forecast period, owing to the increasing advancements in sensing technology and rising adoption of electronics devices along with the increasing inclination towards IoT technology. Furthermore, ongoing development of smart cities and emerging technological advancement in automation all around the world are expected to boost the segment in the coming years.
Moreover, sensors have the ability to detect changes or events in the environment and deliver an appropriate response. Sensors are essential since these are in charge of understanding, recognizing, processing, and recreating human emotions. On the other hand, traffic monitoring & control, flood & water level monitoring, precision agriculture environmental monitoring, and animal tracking are some of the applications for sensors.
However, the camera segment is anticipated to constitute a considerable market share in the coming years due to the rising concerns over public safety and security, growing adoption of IP cameras along with the increasing implementation of spy cameras by law enforcement agencies. Furthermore, affective computing solutions can benefit from the use of cameras, that are commonly found in government buildings, commercial buildings, and other public spaces. In addition, ongoing implementation of technologically advanced video surveillance systems, such as IoT, Artificial Intelligence (AI), big data, and deep learning is propelling the segment growth in the coming years.
Speech recognition segment is projected to expand at a considerable CAGR
On the basis of software, the market is segregated as speech recognition, analytics software, gesture recognition, facial recognition, and enterprise software. The speech recognition segment is projected to expand at a considerable CAGR during the forecast period due to the ongoing development in AI and ML based technology along with the incorporation of connected devices with personal assistants.
Furthermore, the speech recognition aids in the interpretation of emotions from inputs in the form of speech with the help of real-time speech emotion detection. In addition, voice activity detection, speech segmentation, and signal pre-processing are included in the system along with the emotional categorization, future extraction, and statistical analysis of emotional frequency.
However, the facial recognition segment is expected to expand at a significant rate in the coming years, owing to the rising need for a high level of safety & security across domain. Furthermore, facial recognition ensures a high level of security, resulted in gaining widespread adoption in recent years. Facial recognition uses a linked camera or a digital camera to recognize faces in captured photos and match the traits of the faces stored in the database. In addition, authorities are progressively relying on facial recognition to verify a traveler's identification, especially in airports. The law enforcement organizations are utilizing facial recognition to examine faces captured by surveillance cameras in order to locate the targeted suspect.
Touch-based segment is estimated to gain a large revenue share
Based on technology, the global affective computing market is bifurcated into touchless and touch-based technology. The touch-based segment is estimated to gain a large revenue share during the forecast period due to the increasing technological advancement in this category along with the growing implementation of touch-based technology across industries.
Furthermore, a full-fledged system often involves hardware components such as sensors, storage devices, and cameras to capture facial expressions and physical motions. It can be necessary for users to make particular motions by touching the device or using the controller attached to it. On the other hand, gyroscopes, accelerometers, or a combination of both are some of the widespread touch-based technology used to detect or monitor human gestures.
However, the touchless segment is projected to register a significant CAGR in the coming years, owing to the growing need for touchless recognizing biometric solutions and the ongoing upgradation of smartphones with the latest controlling and tracking functionalities.
Healthcare segment is expected to dominate the market
On the basis of end-users, the market is segregated as government, IT & telecommunication, retail & e-commerce, automotive, media & entertainment, healthcare, banking financial services (BFSI) and insurance, and others. The healthcare segment is expected to dominate the market during the forecast period, owing to the growing focus on innovations in patient monitoring tools based on facial recognition techniques to monitor the patients. Furthermore, medical systems are trying to include vocal and empathic aides to help patients to overcome bad emotions that can harm their health and improve their mood. Thus, all these factors are estimated to fuel the segment growth.
However, the automotive segment is anticipated to account for a major market share in the coming years due to the increasing advancement in biometric applications such as driver monitoring for self-directed driving and voice or gesture recognition for the vehicle driver control.
North America is anticipated to constitute a key market share
In terms of regions, the global affective computing market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share during the forecast period, owing to the presence of well-established research organizations involved in developing advanced computing devices. Furthermore, the widespread users of next-generation and AI-based technology along with the steady development of its infrastructure with AI to provide a robust infrastructure suitable for the deployment of affective computing is propelling the market growth in the region.
Moreover, GestureTek, Kairos, Affectiva, and Eyeris are some of the technologically advanced and established firms that offer affective computing solutions personalized to the changing needs of clients in the region.
However, the market of Asia Pacific is projected to expand at a substantial CAGR in the coming years due to the growing implementation of the latest technology across the region. Furthermore, some countries in the region are exploring various projects to generate electronic IDs for their populations.
For example, initiatives such as the Unique Identification Authority of India (UIDAI) project in India and the e-KTP project in Indonesia, are expanding the possibilities for affective computing adoption in the region. In addition, the rising popularity of smartwatches and smart wearable devices in China is encouraging major industry players to expand their footprint in Asia Pacific. Additionally, law enforcement agencies are gradually employing affective computing in their investigation process in order to solve crimes. Thus, all these factors are up surging the market growth in the region.
The global affective computing market has been segmented on the basis of
- Storage Devices & Processors
- Speech Recognition
- Analytics Software
- Gesture Recognition
- Facial Recognition
- Enterprise Software
- IT & Telecommunication
- Retail & E-commerce
- Media & Entertainment
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Qualcomm Technologies, Inc.
- Elliptic Laboratories A/S
- Kairos AR, Inc.
- Cognitec Systems GmbH
- Eyesight Technologies Ltd.
- Intel Corp.
Some of key players competing in the global affective computing marketing are Google; Affectiva; Qualcomm Technologies, Inc.; Elliptic Laboratories A/S; Kairos AR, Inc.; Cognitec Systems GmbH; Microsoft; Eyesight Technologies Ltd.; IBM; and Intel Corp.
These key players are investing heavily in several marketing strategies such as research and development activities, development of new products to strengthen the current product and service portfolios, acquiring new clients to verify technology, mergers & acquisitions, and strategic alliances to promote organic growth and improve the market share.
For example, Microsoft and Sony Semiconductor Solutions teamed up in May 2020 to develop smart camera solutions that make AI-powered video analytics and smart cameras. Both the companies seek to integrate Microsoft Azure AI capabilities with Sony Semiconductor Solution's intelligent vision instrument sensor IMX500 to extract relevant information from photographs taken with smartphones and other devices.
Kia Motors collaborated with the Massachusetts Institute of Technology (MIT) Media Lab's Affective Computing Group at the Consumer Electronics Show in 2019. The partnership revealed the Real-time Emotion Adaptive Driving (R.E.A.D.) system, a significant technological development. This technology is being developed for the post-autonomous driving era. Furthermore, it uses sensors to scan a driver's facial expressions, heart rate, and electro-dermal activity to monitor the emotional condition.
For instance, in March 2019, Empatica began to deploy a watch shaped smart device that can be used to manage stress. This technology analyses physiological data to identify increasing internal stress and prevent seizures caused by disorders such as epilepsy.