Global Affective Computing Market By Technology (Touch-Based, Touchless), Software (Speech Recognition, Gesture Recognition, Facial Feature Extraction, Analytics Software, Enterprise Software, Others), Hardware (Sensors, Cameras, Storage Devices and Processors, Others), Vertical (Academia and Research, Media and Entertainment, Government and Defense, Healthcare and Life Sciences, IT and Telecom, Retail and E-Commerce, Automotive, Banking, Financial Services, and Insurance, Other Verticals)
Market Analysis: Global Affective Computing Market
Global affective computing market is set to witness a healthy CAGR of 43.50% in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. This rise in the market value can be attributed due to surging preference of wearable devices and continuous technological advancement.
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Market Definition: Global Affective Computing Market
Affective computing manages by creating computational systems that acknowledge and communicate feelings to decrease the distance between human feelings and machines. Computer scientists and significant market players are interested in putting more effort into affective computing to create an extremely smart computing system that enhances the proactive and smart interaction between human and machines.
- Surging preference of wearable devices, is driving the market growth
- Continuous technological advancement, is flourishing the market growth
- Surging use of internet in various industries, is helping the market to grow
- Increasing use of automation in industries, drives the market growth
- Lack of regulations and governing bodies, hinders the market growth
- Huge production cost of affective computing systems, hampers the market growth
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Segmentation: Global Affective Computing Market
- Speech Recognition
- Gesture Recognition
- Facial Feature Extraction
- Analytics Software
- Enterprise Software
- Storage Devices
- Academia and Research
- Class Monitoring and Student Engagement
- Media and Entertainment
- Video Analytics
- Government and Defense
- Law Enforcement Agencies
- Healthcare and Life Sciences
- Telemedicine, Tele Psychiatry, and Doctor on Demand
- Autism Spectrum Conditions (ASC)
- IT and Telecom
- Software Development Kits (SDK)
- Retail and E-Commerce
- Product Surveying
- Customer Engagement
- User Experience Review
- Infotainment Systems and Console Maneuvering
- Passive Wireless Heart-Rate Sensor
- Driver Awareness
- Banking, Financial Services, and Insurance
- Human and System Interaction
- Offering Evidence-Based Decision-Making Options
- Other Verticals
Key Developments in the Market:
In June 2019, Biometric Signature ID (BSI) had launched BioTect-ID, an identity verification solution which can authenticate by capturing the gestures when the users draw a 4-character password with their mouse, finger and stylus. It provides an additional security feature by locking down Windows workstations and devices. This launch had become a game changer in authentication space.
In March 2019, Google had launched Bolo which is speech recognition app which helps the kids in learning and reading. It will be improving the vocabulary and comprehension skills both in English and Hindi. The app listens to the voice and then accordingly reviews. The launch had helped the kids in the learning and education.
Global affective computing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of affective computing market for global, Europe, North America, Asia-Pacific, Middle East & Africa and South America.
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