Affective Computing Market is expected to reach a staggering market value by 2032

Market Overview

Affective computing is the area of study linked with cognitive computing and artificial intelligence. Affective computing is a process of collecting data from facial expressions, voice inputs, and body language to measure the level of human emotions. A major area of progress in affective computing market is the design of computational devices having emotional measurement capabilities for simulating human emotions.  

The Affective Computing Market is projected to grow from USD 37.58 billion in 2024 to USD 330.12 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 31.21% during the forecast period (2024 - 2032).

The affective computing market is segmented by type, vertical, deployment, and organization size.

On the basis of type, the affective computing market is divided into hardware, software (analytics software, enterprise software, facial feature extraction, gesture recognition, speech recognition, and others). Enterprise software provides business-oriented tools such as online payment processing and automated billing systems. The enterprise software is expected to exhibit the highest growth rate during the forecast period. Facial feature extraction is a part of face recognition technology that defines the process of locating specific regions, points, landmarks, or curves/contours in a 2-D or a 3-D image. The segment facial expression, at present, is dominating the market of affective computing. 

On the basis of vertical, the affective computing market is segmented into retail, transportation & logistics, IT &Telecom, public sector, BSFI, and others.  The retail sector is dominating the market by using data analytics, and sensors to understand consumer behavior for taking better decisions. Affective computing is also used in logistics for planning, implementing, and controlling the effective and efficient flow of goods and services from the point of origin to the point of consumption. This is expected to help logistics and transportation to show the highest growth rate.

On the basis of deployment, the affective computing market is segmented as cloud and on-premise. Services and solutions that are delivered and consumed in real-time over the internet are known as Cloud Computing. On the basis of organization size, the affective computing market is segmented as small & medium scale enterprise (SME’s) and large enterprises. Large enterprises invest more capital in industrial plants and machinery, and their research & development. Therefore,  this segment is expected to dominate the market over the forecast period. On the basis of technology, the affective computing market is segmented as touch-based and touchless. 

Key Players:

Some of the key players in affective computing market include Google LLC (U.S.), Microsoft Corporation (U.S.), IBM Corporation (U.S.), Saffron Technologies Inc. (U.S.), Qualcomm Inc. (U.S.), Elliptic Labs A/S (Norway), Eyesight Technologies Ltd. (Israel), Pyreos Limited (Scotland), Softkinetic Systems (Belgium), SiteCorp. (The Netherlands).

Other players in market are Dream Face Technologies (U.S.), Gesturetek(U.S.), Palantir Technologies(U.S.), Affectiva (U.S.), Emotional Recognition(U.K), Numenta (U.S.), CrowdEmotion(U.K), SRI International (U.S.), Feel Wristband (Sentio Solutions)(U.S.), Vokaturi (The Netherlands) among others