The Global Affective Computing Market Continues To Grow Owing To the High Rate of Developments Done By Market Central Players in the World


Affective Computing Market
Affective Computing Market 


Affective Computing Market, By End-user (Healthcare, Automotive, Retail, Other End-user Industries), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East, Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030.

Affective computing is an emerging field of research that explores how computers can be adapted to be more emotionally intelligent. The technology is based on the notion that emotions and cognitive processes are deeply intertwined, and that they are influenced by a multitude of physiological and neurobiological systems. As a result, affective computing is considered a foundation for emotional artificial intelligence. Emotional AI, in turn, is often used to refer to commercial applications of affective computing. As a field of research, affective computing owes its origins to medicine and neurology. Ultimately, it is intended to improve human-machine interaction and endow machines with emotional intelligence. Although the field of affective computing has been established, it still lacks a deep understanding of the biology and socio-cultural contexts in which these systems interact. Because of this, researchers believe that the technology needs to be backed up by more real-world research before it can be brought into practice.

The Affective Computing Market was valued at US$ 36.32 Bn in 2021 and is forecast to reach a value of US$ 416.9 Bn by 2030 at a CAGR of 31.5% between 2022 and 2030.

Competitive Landscape:

Major players operating in the global affective computing market include Gesturetek Inc., IBM Corporation, audEERING GmbH, Realeyes Data Services Ltd., Kairos AR, Inc., Emotibot Technologies Limited, Element Human Ltd., Eyesight Technologies Ltd., Nemesysco Ltd., Nuance Communications Inc. (Microsoft Corporation), Affectiva Inc., and Amazon Web Services Inc.

Key Market Drivers:

A high rate of developments by key players in the global affective computing market is expected to augment the growth of the market. For instance, in June 2022, Nuance Communications partnered with SCIENTIA Puerto Rico, Inc. in order to expand user access to Nuance's Dragon Medical One speech recognition solution. While some affective technologies use discrete emotion recognition, others rely on text-based computational processing of emotions. In addition, the field has gained significant traction through interdisciplinary collaborations. Affective Computing has also been a driving force behind the emergence of commercial companies that provide emotional AI tools. Moreover, the high adoption of technologically advanced electronic devices is estimated to enhance the growth of the global market.

Covid-19 Impact Analysis:

During the COVID-19 pandemic, there have been several developments in the global market. For instance, in June 2022, Aural Analytics, Inc. partnered with Koneksa, in order to strengthen its research capabilities by using Aural Analytics' technology, Speech Vitals.

Key Takeaways:

North America is expected to dominate the growth of the global market, owing to the high prevalence of significant players in the international and regional markets. For instance, in September 2022, Nuance Communications, Inc. announced that Liberty Global expanded the usage of Nuance Dragon TV for Virgin Media O2 users in the U.K.

Europe is estimated to witness high growth in the global market, owing to the increasing developments done by key players in the region. For instance, in May 2021, Smart Eye attributed Affectiva, in order to partner with a global powerhouse of Artificial Intelligence.

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