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). Additionally, the market size for affective computing was valued at USD 27.55 billion in 2023.
Increased connected devices across different end-user industries, continuous improvement in enabling effective computing technology are the key market drivers enhancing market growth.
Figure 1: Affective Computing Market Size, 2024-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Affective computing is highly advanced and widely used in the healthcare industry. The initial advancements in effective computing focused on supporting medical professionals, specifically by developing technologies to better understand individuals with mental challenges. Artificial intelligence (A.I.) application in medicine is growing, and significant endeavors are underway to enhance its impact in the field. Companies such as DeepMind, Babylon Health, and others are intensifying their work in this domain. This factor drives the market CAGR.
Additionally, the rising use of mobile networks in various end-user sectors, coupled with continuous technological advancements, is driving the growth of the computing market. Businesses of all sizes swiftly adopt government-led initiatives to utilize A.I. and ML to address COVID-19. To combat the infection, the Kerala state government has invested in an "Intelligence Thermal and Optic Scanning Camera" to scan individuals from a safe distance. With increased global investment in combating COVID-19, countries are expected to enhance public safety, healthcare, and law enforcement by widely adopting effective software applications. Moreover, the market is experiencing growth due to the increasing applications of artificial intelligence in logistics, software, autonomous vehicles, and medical robotics. The Deployment of robots, the proliferation of wearable devices, and increased collaboration among market players are also contributing to the momentum of effective computing. Research and development investments and activities, along with technological innovations and the expansion of the IT sector, are fueling the Affective Computing market revenue.
The global Affective Computing market segmentation, based on type, includes hardware and software. The software segment dominated the market, and the growing need for sophisticated software solutions that facilitate emotion recognition and analysis is on the rise. Affective computing technology seeks to identify, understand, and react to human emotions, with software playing a vital part in its accomplishment. These software solutions offer the necessary algorithms, machine learning models, and data processing capabilities to effectively analyze facial expressions, voice intonation, physiological signals, and other inputs to accurately determine human emotions.
The global Affective Computing market segmentation, based on vertical, includes retail, IT & telecom. The retail segment dominates the market; effective computing technology is being more widely used in the retail sector to enhance customer experiences and improve business results. Retailers are utilizing affective computing solutions to analyze customer emotions and behaviors, allowing them to personalize interactions, customize product recommendations, and create more captivating shopping experiences. By gaining insight into customer emotions, retailers can optimize store layouts, enhance product placements, and develop targeted marketing campaigns. This ultimately leads to increased customer satisfaction, loyalty, and higher sales.
Figure 2: Affective Computing Market, by Vertical, 2022 & 2032(USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on Deployment, the global Affective Computing market segmentation includes cloud and on-premise. The cloud segment dominated the market; cloud-based effective computing solutions enable organizations to access and analyze large volumes of data from multiple sources instantaneously, eliminating the need for substantial infrastructure investments. This allows businesses to swiftly implement and expand their effective computing applications according to their requirements. Moreover, cloud deployments offer seamless integration with other cloud-based services and technologies, facilitating effortless data sharing and collaboration. Furthermore, cloud-based deployments provide advanced data security measures to safeguard sensitive information.
The global Affective Computing market segmentation, based on organization size, includes SMEs and large enterprises. The large enterprise segment dominated the market; large enterprises are more likely to adopt and utilize effective computing solutions because of their greater financial resources, technical capabilities, and infrastructure. These companies typically have larger customer bases, extensive data repositories, and complex business operations, which make them more inclined to invest in advanced technologies like effective computing. Moreover, large enterprises often have a broader range of applications and use cases for effective computing, including customer experience management, sentiment analysis, and personalized marketing.
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American affective computing market will dominate this market due to the enormous number of businesses that have obtained effective cloud platforms, as well as the most recent technology that will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Europe's Affective Computing market accounts for the second-largest market share because of thegrowing amount of interconnected devices across various end-user sectors. Further, the German Affective Computing market held the largest market share, and the U.K. Affective Computing market was the fastest growing market in the European Region.
The Asia-Pacific Affective Computing Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to continuous improvement in enabling effective computing technology. Moreover, China’s Affective Computing market held the largest market share, and the Indian Affective Computing market was the highest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Affective Computing market grow even more. Market participants are also undertaking different strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Affective Computing industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Affective Computing industry to benefit clients and increase the market sector. The Affective Computing industry has offered some of the most significant advantages in recent years. Major players in the Affective Computing market, including 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), and Soft kinetic Systems (Belgium), SiteCorp. (The Netherlands)., and others are attempting to increase market demand by investing in research and development operations.
The American multinational technology corporation known as IBM, or Big Blue, is based in Armonk, New York, and operates in more than 175 countries. IBM has partnered with Shree Cement Limited to host its database and core software products on IBM Power Systems, which are based on the POWER9 architecture and run on Red Hat and AIX operating systems. Shree Cement utilizes Oracle Enterprise Command Center on Red Hat Enterprise Linux to automate critical supply chain processes. This migration will enhance the company's ability to make informed operational decisions, streamline procedures, improve supply chain efficiency, and optimize cost and revenue management.
Smart Eye AB is a Swedish A.I. company that was established in 1999. It is based in Gothenburg and specializes in the development of Human Insight A.I. technology. This technology is designed to comprehend, assist, and predict human behavior in complex environments. Smart Eye is renowned for its provision of Driver Monitoring Systems and top-notch eye-tracking technology with exceptional precision. Through a collaboration with Affectiva, the two organizations aim to become a global A.I. powerhouse. Affectiva brings deep expertise in machine learning, data acquisition, annotation, and A.I. ethics, which will enable Smart Eye to offer Human Insight A.I. that accurately describes, assists, and forecasts human behavior in complex surroundings.
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)
Brunswick Corporation
June 2022: Nuance Communications and SCIENTIA Puerto Rico, Inc. have joined forces to expand the reach of Nuance's Dragon Medical One speech recognition solution to healthcare practitioners in Puerto Rico. This collaboration aims to improve the availability of advanced clinical documentation tools, ultimately leading to better patient outcomes. By leveraging the power of speech recognition technology, healthcare professionals can streamline administrative tasks, reducing the burden and potential burnout associated with manual documentation.
June 2022: Aural Analytics, Inc., a prominent player in clinical-grade speech analytics, announced a partnership with Koneksa, a player in digital biomarker development, to further strengthen its platform and research capabilities using Aural Analytics' technology, Speech Vitals.
Hardware
Software
Retail
IT & Telecom
Cloud
On-premise
SME's
Large enterprises
US
Canada
Germany
France
UK
Italy
Spain
Rest of Europe
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 27.55 billion |
| Market Size 2024 | USD 37.58 billion |
| Market Size 2032 | USD 330.12 billion |
| Compound Annual Growth Rate (CAGR) | 31.21%(2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Vertical, Deployment, Organization Size, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The countries included in the market analysis are the United States, Canada, Germany, France, the United Kingdom, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil. |
| Key Companies Profiled | 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), and Softkinetic Systems (Belgium), SiteCorp. (The Netherlands) |
| Key Market Opportunities | Research in multimodal recognition and detection combined with effective and efficient collaboration among different researchers is providing the market with tremendous potential growth opportunities. |
| Key Market Dynamics | The major driving factors of the market are the growing adoption of connected devices across different end-user industries and continuous improvement in enabling effective computing technology. |
Affective Computing Market Highlights:
Frequently Asked Questions (FAQ) :
The global Affective Computing market size was valued at USD 27.55 Billion in 2023.
The global market is witnessed to grow at a CAGR of 31.21% during the forecast period, 2024-2032.
North America had the largest share of the global market
The key participants in the market areGoogle 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), and Softkinetic Systems (Belgium), Site Corp. (The Netherlands).
The software category dominated the market in 2023.
The Cloud had the largest share of the global market.
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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