Affective Computing Market Growing at a CAGR 37.4% | Key Player Pyreos, Google, Microsoft, IBM, Apple

July 06 14:52 2020
Affective Computing Market Growing at a CAGR 37.4% | Key Player Pyreos, Google, Microsoft, IBM, Apple

Google (US), Microsoft (US), IBM (US), Apple (US), Qualcomm (US), Affectiva (US), Elliptic Labs (Norway), Eyesight Technologies (Israel), Sony Depthsensing Solutions (Belgium), Intel (US), Pyreos (UK), Cognitec Systems (Germany), Beyond Verbal (Israel), GestureTek (Canada), SightCorp (Noord-Holland), CrowdEmotion (UK), Kairos (US), nViso (Switzerland)
Affective Computing Market by Technology (Touch-based and Touchless), Component (Software (Speech Recognition and Gesture Recognition) and Hardware (Sensors, Cameras, and Storage Devices and Processors)), Vertical, and Region – Global Forecast to 2025

The global Affective Computing Market size in the post-COVID-19 scenario is projected to grow from USD 28.6 billion in 2020 to USD 140.0 billion by 2025, at a CAGR of 37.4% during the forecast period. The major factors driving the market growth include the growing demand for voice-enabled virtual assistants, soaring need to counter fraudulent activities, and enhanced security in the automotive and banking sectors.

Based on technology, the touch-based segment is estimated to lead the market in 2020.

Touch-based technologies play a crucial role in the deployment of affective computing solutions. Most of the affective computing technologies need hardware, such as cameras, sensors, and storage devices, to provide a full-fledged computing solution, which can analyze various facial expressions. It enables users to make certain gestures by either touching the device or through the controller connected to the device.

With most of the developments taking place in the affective computing market, the market for touch-based technologies is expected to increase at a healthy CAGR. Some of the most popular touch- or gesture-based technologies deployed to monitor or detect human gestures include accelerometers, gyroscopes, or a combination of both.

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Based on the vertical, healthcare & life sciences sector is estimated to grow at the fastest rate during the forecasted period.

Affective computing technology plays a vital role in the field of medical emergency and healthcare. Companies operating in this market integrate affective computing-related technologies applicable in the healthcare sector by evaluating not only the emotional state of mind but also pain & medical conditions that exhibit themselves through facial cues, such as autism and depression. The technology is a boon to the area of health science, which is now available for detecting the pain felt by people who are unable to express. It is ubiquitously understood that emotions and health have interrelation.

The vendors covered in the affective computing market report include Google (US), Microsoft (US), IBM (US), Apple (US), Qualcomm (US), Affectiva (US), Elliptic Labs (Norway), Eyesight Technologies (Israel), Sony Depthsensing Solutions (Belgium), Intel (US), Pyreos (UK), Cognitec Systems (Germany), Beyond Verbal (Israel), GestureTek (Canada), SightCorp (Noord-Holland), CrowdEmotion (UK), Kairos (US), nViso (Switzerland), PointGrab (US), Eyeris (US), and Numenta (US). These players have adopted various growth strategies, such as partnerships, agreements & collaborations, new product launches & product enhancements, and acquisitions to expand their presence in the affective computing market. Partnerships, agreements & collaborations and new product launches have been the most adopted strategies by the major players from 2017 to 2020 to innovate their offerings and broaden their customer base.

Pureplay vendors such as Kairos (US), Eyesight Technologies (Israel), Affectiva (US), GestureTek (Canada), and Beyond Verbal (Israel) have been acknowledged as some of the innovators in affective computing solutions market space. These companies are integrating facial expression sensing, gesture sensing components coupled with analytics features into mobile apps, games, and electronic consumer devices to enhance the digital experiences of their customers. These prominent key players are therefore known to offer affective computing solutions to SMEs and large enterprises across verticals, such as education, healthcare, gaming, robotics, media, and advertising, market research, automotive, and retail, among others.

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Most of the companies in the affective computing market are adopting inorganic growth strategies, such as new partnerships and acquisitions, for strengthening their innovative product portfolio. Affective computing market players are focused on the integration of artificial intelligence with various recognition software to build superior products that will increase their user customer base.

  • In June 2019, EyeSight technologies partnered with AI System-on-Chip (SoC) supplier Ambarella to deliver a market-ready driver state, action, and recognition system for incorporation with vehicles by OEM and Tier-1 automotive manufacturers.
  • In January 2019, Affectiva partnered with Aptiv PLC to enable next-generation vehicle experience. The partnership will deliver innovative and scalable software – derived from deep learning architectures – to enhance perception capabilities in advanced safety solutions and reimagine the future of the in-cabin experience.

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