IMARC Group recently released a new research study titled “Emotional Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity, Forecast 2022-2027”, the global Affective Computing Market reached a value of USD 37.0 Billion in 2021. Going forward, it predicts IMARC expects the market to reach $227.6 billion by 2027, showing a compound annual growth rate of 35.7% over the period 2022-2027.
Affective computing, or affective artificial intelligence, enables computers to interpret, simulate, recognize, and process human emotions and feelings. It applies knowledge from psychology, computer science, and cognitive science. Affective computing analyzes emotions through the use of big data, various sensors, machine intelligence, and an analytics engine. Companies benefit from the insights gained from this system to improve decision-making in consumer-centered operations, such as marketing, sales, and customer services. Thus, affective computing finds widespread applications in e-learning and autonomous systems.
We regularly track the direct impact of COVID-19 on the market, along with the indirect impact on the industries associated with it. These notes will be incorporated into the report.
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Affective Computing Market Trends and Drivers:
The increasing penetration of the Internet and the growing demand for wearable devices are the primary factors driving the global emotional computing market. It is also supported by the growing need to understand consumer behavior by companies around the world. Other than that, rapid technological development has inflated the demand for advanced electronic devices, such as voice-activated biometrics, which is driving market growth. Moreover, the increasing prevalence of software tools in educational institutions and support mechanisms in medical services creates a positive outlook for the market.
Explore the full report with table of contents: https://www.imarcgroup.com/affective-computing-market
Affective Computing Market 2022-2027 Competitive Analysis and Segmentation:
Competitive landscape with major players:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
Some of these major players are:
Cipia Vision Ltd.
Cognitec Systems GmbH
Elliptical Labs A/S.
Google LLC (Alphabet Inc.)
International Foundation for Computers
Kairos AR Inc.
Nuance Communications Inc.
The report has segmented the market into the following categories:
Break down by ingredients:
Storage devices and processors
projects and programmes
Breakdown by end use:
Information and communication technology
Market Segmentation by Region:
North America (United States and Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, etc.)
Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and other countries)
Latin America (Brazil, Mexico and other countries)
Middle East and Africa
Key highlights of the report:
Market Performance (2016-202)
Market prospects (2022-2027)
Market drivers and success factors
The impact of COVID-19
Value chain analysis
Comprehensive mapping of the competitive landscape
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