Affective Computing Market To Reach $388.28 Billion By 2030

Affective Computing Market Growth & Trends

The global affective computing market size is expected to reach USD 388.28 billion by 2030, registering a CAGR of 30.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. Affective computing is being used across a myriad of end-use industries to gauge the emotional states of customers and analyze how these emotional states can influence the buying and selling decisions. The increasing rate of crime and terrorism has particularly increased the adoption of affective computing for security and surveillance purposes. The growing popularity of smart devices and wearables among individuals also bodes well for the growth of the market.

Affective computing helps in detecting human emotions and analyzing the human decision-making process through various human parameters, such as voice, heart rate, and expressions. Film making companies have already been employing algorithms, such as Factorized Variational Autoencoders (FVAEs) to gauge audience responses to different characters in movies. Video games are being developed to offer gamers an improved gaming experience by understanding the gamers’ emotions while playing games. Such diversified usage of the technology is expected to open new growth opportunities for the market over the forecast period.

The potential to use affective computing to develop emotions for treating autism-based diseases is another factor expected to drive the growth of the market. The growing demand for consumer electronics and IoT-based devices coupled with the evolving needs for convenience and comfort in product usage is also expected to boost the growth of the market. The growing awareness toward proper hygiene in the wake of the COVID 19 pandemic outbreak is equally expected to discourage physical contact and instead encourage the usage of facial recognition, and gesture recognition, among other techniques, thereby driving the market growth.

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Affective Computing Market Report Highlights

• The touchless segment is anticipated to register the fastest CAGR over the forecast period as the growing awareness toward proper hygiene in the wake of the outbreak of the COVID-19 pandemic triggers the demand for touchless technology

• The automotive sector is expected to register the fastest CAGR during the forecast period owing to the ongoing development of autonomous and semi-autonomous vehicles

• Asia Pacific is expected to register the fastest CAGR during the forecast period. The smart city projects being pursued aggressively by the emerging economies in the Asia Pacific is expected to drive the demand for affective computing solutions in the region

Affective Computing Market Segmentation

Grand View Research has segmented the global affective computing market based on technology, component, end use, and region:

Affective Computing Technology Outlook (Revenue, USD Billion, 2017 - 2030)

• Touch-based

• Touchless

Affective Computing Component Outlook (Revenue, USD Billion, 2017 - 2030)

• Hardware

  • Sensors

  • Cameras

  • Storage Devices & Processors

  • Others

• Software            

  • Analytics Software

  • Enterprise Software

  • Facial Recognition

  • Gesture Recognition

  • Speech Recognition

Affective Computing End Use Outlook (Revenue, USD Billion, 2017 - 2030)

• Education

• Media & Entertainment

• Government & Defense

• Healthcare & Life Sciences

• IT & Telecom

• Retail & E-commerce

• Automotive

• BFSI

• Others

Affective Computing Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • Japan

  • India

  • China

  • Australia

  • South Korea

• Latin America

  • Brazil

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

List of Key Players in the Affective Computing Market

• Affectiva

• Apple Inc.

• Cognitec Systems GmbH

• Google LLC

• IBM

• Microsoft

• NuraLogix Corporation

• Qualcomm Technologies, Inc.

• Realeyes

• Sony Corporation