BANGALORE, India, Aug. 28, 2020
BANGALORE, India, Aug. 28, 2020 /PRNewswire/ -- Major factors driving the growth of Affective computing market size include the proliferation of gesture-enabled IoT devices in smart home automation, increased demand for voice-driven workstations and navigation systems, and the introduction of in-car infotainment systems.
In 2018, the global Affective Computing market size was USD 200 Million and it is expected to reach USD 3530 Million by the end of 2025, with a CAGR of 43.2% during 2019-2025.
This study focuses on the global status of Affective Computing, future projections, growth prospects, key markets, and key players. The objectives of the analysis are to present the growth of Affective Computing in the United States, Europe, and China.
COVID-19 IMPACT ON THE AFFECTIVE COMPUTING MARKET
In the midst of the COVID-19 pandemic, numerous governments and regulatory authorities are mandating both public and private organizations to adopt new remote working, and social distance maintenance approaches. This has opened up doors for innovations, which could potentially minimize physical interactions. Lockdowns in most parts of the world are disappearing, and firms are slowly resuming operations.
Companies remain keen to incorporate gestures, voice, and facial recognition technologies not only for attendance purposes but also to replace all applications using biometric parameters. In the aftermath of the COVID-19 pandemic outbreak, companies will implement affective computing technologies that would promote touchless interactions on priority.
TRENDS INFLUENCING THE AFFECTIVE COMPUTING MARKET SIZE
With the advent of Industry 4.0, developments in technology, such as improved human-computer interfaces, and cutting-edge networking technologies are anticipated to enhance the affective computing system's performance. Affective computing is expected to have important consequences for every company's future, with widespread effects on its ergonomics, human resources, project management, and organizational improvements. This aspect has accelerated the growth of Affective Computing market size.
In particular, the introduction of high-speed internet networks, the development of high-resolution cameras, and the implementation of machine learning (ML) will fuel the growth of the affective computing market size.
Government initiatives to exploit the benefits of emotion AI technology is expected to increase the growth of Affective computing market size. With growing global funding to tackle COVID-19, the government sector is expected to improvise on law enforcement and public safety for residents and patient surveillance in the healthcare sector, implementing large-scale affective computing systems.
The growth of Affective computing market size is further driven by the rising demand for virtual assistants capable of detecting fraudulent activities and the increasing need for enhanced security in various sectors.
AFFECTIVE COMPUTING MARKET SHARE
AFFECTIVE COMPUTING MARKET SEGMENTATION
Market Analysis by Region
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The Key Companies Covered in this Study
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The Touch-Based Affective Computing Market report offers an exhaustive geographical analysis covering important regions, including North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
The report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by each application segment in terms of revenue for the period 2015-2026.
The COVID-19 pandemic outbreak is expected to fuel the growth of Touchless Affective Computing Market size.
The growing need for socially intelligent artificial agents and the rising need for affective computing solutions related to telehealth are some of the factors that drive the growth of Touchless Affective Computing Market size.
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