Affective Computing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Affective Computing Market is segmented by End-User (Healthcare, Automotive, Retail), and Geography.

Market Snapshot

Affective Computing Market Overview
Study Period: 2019- 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 35.5 %

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Market Overview

The Affective Computing Market is projected to register a CAGR of 35.5% during the forecast period (2021 - 2026). The Covid-19 pandemic positively affected the Affective Computing Market, as people were more concerned about their health and safety during the lockdown. Increasing Covid-19 infections gave rise to the usage of Al-based temperature measurement equipment, Covid detection equipment, advanced vaccination machines, etc.

  • The emergence of affective computing could spur the growth of various applications. The major area in affective computing is the design of computational devices proposed to showcase either natural emotional capabilities or that are capable of convincingly simulating emotions.
  • For people with speech impairments and emotionally handicapped people, Gestele, a prototype, has been developed which adds to the emotions, gestures, or any other forms of communication from the affected people. Affective computing can also be used for personalization, such as adjusting light, type of music, and room temperature by detecting a person’s mood, etc.
  • The increasing use of robots provides further incentive for the implementation of this technology. The recent advancement of robotics leads to an immense increase in the demand for artificially intelligent robots to behave politely and socially smartly.
  • A report on World Robotics by the International Federation of Robotics (IFR) revealed that more than 381,000 industrial robots were shipped globally in 2017. This number is anticipated to reach 630,000 units by 2021. The feature addition such as affective computing can make these industrial robots more acceptable and have better human-computer interaction.
  • The users of robotic devices equipped with AI do not want themselves to be bothered with unimportant information. However, that high level of reasoning requires an understanding of the person’s emotional state. With the recent advancement in machine learning, companies are developing new ways to utilize the advancements to their advantage.

Scope of the Report

Affective computing is the study and development of systems and devices that can recognize, interpret, process, and simulate human affects. It is an interdisciplinary field spanning computer science, psychology, and cognitive science.

By End-User Industry
Healthcare
Automotive
Retail
Other End-User Industries
By Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Rest of Europe
Asia Pacific
China
Japan
Australia
Rest of Asia Pacific
Rest of the World

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Key Market Trends

Healthcare is Expected to be One of the Primary Recipients of the Technology

  • The healthcare segment has some of the most advanced and commercialized applications for affective computing. Some of the initial developments in the affective computing domain are targeted to aid the medical care professionals, primarily with technology that is expected to help them understand the mentally disabled patients.
  • 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 their efforts towards such goals.
  • Moreover, there are several companies that are working toward advanced patient monitoring devices, which are making use of facial coding techniques to monitor patients continuously. However, when compared to other end users, the products take time to reach the retail market post-approval procedures in the healthcare sector.
  • In the current market scenario, Empatica is one of the very few companies that offer wearable effective computing devices for healthcare applications. The company’s devices are approved by the US Food and Drug Administration (FDA). The company has geographically limited its operations to serve its customers in the United States and Europe.
Affective Computing Market

North America is Expected to Hold the Largest Market Share

  • North America is the largest market for affective computing, globally, led by the United States. The region has some of the most active research organizations working toward developing innovative affective computing devices capable of serving several end-user applications, especially in the healthcare, market research, and automotive sector.
  • North America was one of the first regions to adopt Artificial intelligence on an extensive scale. With the improved infrastructure for artificial intelligence, the region consists of mature infrastructure required for the deployment of affective computing.
  • Research organizations such as MIT have been concentrated in the region conducting various research projects, which include Affective Response to Haptic signals, Automatic Stress Recognition in Real-Life Settings, etc., which is expected to increase the investments in the region for the growth of affective computing.
  • There are huge future prospects of affective computing converging with robotics in the future due to the deployment platform that robotics provides. The increased adoption rate of robotics in the United States points toward increased popularity, thus showcasing increased customer adoption toward more intelligent robots.
Affective Computing Market

Competitive Landscape

The Affective Computing Market is currently dominated by a few players with their technological expertise in AI technology. The global market is expected to be nearly consolidated in nature, and the major players with a prominent share in the market are focusing on expanding their customer base across foreign countries by leveraging on strategic collaborative initiatives to increase their market share and their profitability. Affectiva Inc., CroudEmotion Ltd., Kairos AR, Inc., nViso AI are some of the major players present in the current market.

  • February 2021 - IBM announced that Safexpress, India’s leading supply chain & logistics company, has deployed ‘PROPEL-i,’ a bespoke, end-to-end cloud-native logistics platform developed in collaboration with IBM Global Business Services. The digital platform enables the company to attain agility in demand management, obtain advanced and flexible dynamic pricing modeling capabilities, and provide its customers enhanced visibility and transparency.

Recent Developments

  • January 2021 - Larsen & Toubro Infotech planned to expand its multi-year, global alliance with IBM to help businesses transform their operations through open hybrid cloud adoption. LTI will help their clients migrate and modernize core business applications leveraging IBM’s open hybrid cloud platform built on Red Hat OpenShift. LTI has developed industry-ready solutions using hybrid cloud capabilities from IBM, including Cloud Pak for Data and Cloud Pak for Automation, and offerings that integrate IBM Watson solutions, to help their clients automate, secure, and update their business processes and applications. These include iDigitalization to automate workflow and digitize enterprise business processes, iMaximize to help modernize the enterprise integration landscape with pre-built accelerators, and Make the Shift to help overhaul legacy workloads.
  • February 2021 - IBM announced a collaboration with Shree Cement Limited, one of the top three cement producers in India, to run their database and core business applications using AIX and Red Hat on IBM POWER9-based IBM Power Systems. Shree Cement automated its key supply chain processes with Oracle Enterprise Command Center on Red Hat Enterprise Linux. This shift will help the company optimize operational decisions, improve processes, bring in supply chain efficiency, drive better cost and revenue decisions. The company has also integrated a third-party IoT solution on the same platform to track manufacturing plant data such as in-plant logistics, supply chain processes involving the movement of raw materials and trucks from yards to plants, and monitor production efficiencies.
  • August 2021 - Nuance Communications and Olympus’ AI-based SeleCT analysis partnered and helped create the SeleCT Connect program. SeleCT Connect automatically sends CT studies directly from physicians and radiologists’ picture archive and communication system (PACS) to the SeleCT QCT analysis service. Results automatically return to the patient record following analysis. The new service also allows SeleCT analysis results to be sent to a health system’s electronic health record (EHR) for easier referring physician access.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increased Automation In Contact Centers

      2. 4.2.2 Increasing Adoption Of Cloud-based Solutions And Online Solutions

    3. 4.3 Market Restraints

      1. 4.3.1 High Approval Times In Healthcare

      2. 4.3.2 Privacy And Security Concerns

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. TECHNOLOGY SNAPSHOT

    1. 5.1 Speech Recognition

    2. 5.2 Gesture Recognition

    3. 5.3 Facial Recognition

    4. 5.4 Other Types

  6. 6. MARKET SEGMENTATION

    1. 6.1 By End-User Industry

      1. 6.1.1 Healthcare

      2. 6.1.2 Automotive

      3. 6.1.3 Retail

      4. 6.1.4 Other End-User Industries

    2. 6.2 By Geography

      1. 6.2.1 North America

        1. 6.2.1.1 United States

        2. 6.2.1.2 Canada

      2. 6.2.2 Europe

        1. 6.2.2.1 United Kingdom

        2. 6.2.2.2 Germany

        3. 6.2.2.3 France

        4. 6.2.2.4 Rest of Europe

      3. 6.2.3 Asia Pacific

        1. 6.2.3.1 China

        2. 6.2.3.2 Japan

        3. 6.2.3.3 Australia

        4. 6.2.3.4 Rest of Asia Pacific

      4. 6.2.4 Rest of the World

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 Affectiva Inc.

      2. 7.1.2 CroudEmotion Ltd.

      3. 7.1.3 Kairos AR, Inc.

      4. 7.1.4 Nuance Communications Inc.

      5. 7.1.5 IBM Corporation

      6. 7.1.6 Beyond Verbal Communication, Ltd.

      7. 7.1.7 Nemesysco Ltd.

      8. 7.1.8 Realeyes Data Services Ltd.

      9. 7.1.9 audEERING GmbH

      10. 7.1.10 Eyesight Technologies Ltd.

      11. 7.1.11 Emotibot Technologies Limited

      12. 7.1.12 Amazon Web Services Inc.

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Affective Computing Market market is studied from 2019 - 2026.

The Affective Computing Market is growing at a CAGR of 35.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Affectiva Inc., CroudEmotion Ltd., Kairos AR, Inc., IBM Corporation, Nuance Communications Inc. are the major companies operating in Affective Computing Market.

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