The Affective Computing Market research report aims to provide an unbiased and a comprehensive outlook of the global market to the readers. Analysts have studied the key trends defining the trajectory of the market. The research report also includes an assessment of the achievements made by the players in the Affective Computing Market so far. It also notes the key trends in the market that are likely to be lucrative.
Global Affective Computing Market was valued at USD 16.17 billion in 2017, and is expected to reach a value of USD 88.69 billion by 2023 at a CAGR of 32.81%, over the forecast period (2018-2023).
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The advent of affective computing could spur the growth of various applications. Affective computing can be used for personalization such as adjusting light, type of music, and room temperature by detecting a persons mood etc. For people with speech impairments and emotionally handicapped people, Gestele, a prototype, has been developed which adds to the emotions, to gestures or any other forms of communication from the affected people. Growing use of robots provides further incentive for the implementation of this technology. Artificial intelligence has been growing in domains such as autonomous cars, logistics and parking aid software, surgical robots etc.
The scope of the report is limited to software type which includes Speech Recognition, Gesture Recognition, Facial Feature Extraction, Analytics Software, and Enterprise Software. The End Users considered in the scope of the report include Healthcare, Research, Academics, Life Sciences, BFSI, Retail, Government and Defense, IT and Telecom.
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March 2018 – Empatica began deploying a smart device which can be used to manage stress. The device has been modeled similar to a watch and has received FDA approval. The device analyzes physiological signals to detect an increase in the stress inside the body and prevent seizures due to diseases such as epilepsy etc.
Increasing Applications in Various Domains Fueling the Growth of Affective Computing Market
The number of applications for the technology have been growing rapidly across various domains. Companies such as Disney have been using algorithms such as factorized variational autoencoders (FVAEs) to record the reaction of audience to various characters in a movie. Similar experiments have been conducted by the company for the movie Toy Story 5 to get an insight into some of the funniest characters in the movie. Video games are being designed to provide gamers with a better gaming experience through gauging gamers� emotional responses during the gameplay. Furthermore, the use of such technology is expected to assist teenagers in social-emotional development in case of autism related diseases. A range of treatment therapies have been devised for such children, which is expected to boost the overall growth of the Affective computing market.
Healthcare is expected to be one of the Primary Recipients of the Technology
Artificial Intelligence (AI) in medicine has been growing and significant efforts are being made to increase the contribution to the domain. Companies such as DeepMind, Babylon Health etc. have been accelerating efforts towards such goals. Healthcare has been continuously growing in terms of demand and the need for better technology for better patient care. With regard to healthcare cognitive computing techniques such as physiological healthcare, and medicine analysis have been adopting the use of affective computing. Affective computing is still in a developing phase, as many experiments are being conducted in the domain. Experiments are being conducted on hippocampus of the macaque monkey and mouse brain to check the working of affective computing systems on biological systems.
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Influence of the Affective Computing market report:
- Comprehensive assessment of all opportunities and risk in the Affective Computing market.
- Affective Computing market recent innovations and major events.
- Detailed study of business strategies for growth of the Affective Computing market-leading players.
- Conclusive study about the growth plot of Affective Computing market for forthcoming years.
- In-depth understanding of Affective Computing market-particular drivers, constraints and major micro markets.
- Favorable impression inside vital technological and market latest trends striking the Affective Computing market.
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