The global affective
computing market is disrupting the traditional emotional disorder treatment
practices with the introduction of advanced diagnostic solutions in the
healthcare sector. According to a report by the WHO, healthcare expenditure is
increasing faster, as compared to rest of the global economy, and is
accountable for 10% of the global GDP in 2019. The
demand for affective computing in the healthcare industry is growing rapidly,
due to its capability to improve therapeutic solutions for patients. Owing to
its number of applications, which include facial expression recognition for specially-abled
children with dyslexia, and autism diseases, affective computing recorded a
substantial growth in the healthcare sector. Growing demand for artificial
intelligence-enabled solutions to determine psychological ailments is
anticipated to impel the affective computing market growth around the globe.
The Global Affective Computing Market size valued at $22 billion in 2018, and
is anticipated to grow with a CAGR of 27.2%, throughout the forecast period
2019-2025.
Apart from the
healthcare industry, affective computing technology is used in numerous other
applications such as autonomous cars, logistics, and surgical robots. Recording
passengers’ gestures and additional safety measures were deployed in autonomous
cars, by the advent of affective computing. Affective computing is used in
logistics for planning, implementing, and controlling an efficient flow of
goods and services from the point of origin until the delivery. Robots equipped
with affective computing technology can better judge the patient’s emotional
state and change their programming aptly. Furthermore, teenagers can get assistance in emotional development programs in case of
autism-related diseases by the use of affective computing technology. A varied
range of solutions were developed for such children, which is expected to boost
the affective computing market growth globally. The retail sector is dominating
the affective computing market, by using data analytics, and sensors as it
plays a vital role to understand consumer behavior for taking better decisions.
The processing speed of affective computing to record and analyze a human
response in real-time can contribute to rapid growth of this technology. For
instance, Internet-based therapy cannot detect and depict a patient’s emotional
state, as a face-to-face session can. On the other hand, affective computing
gives more accuracy in the evaluation of a patient’s psychological condition by
interpreting facial expressions and gestures.
North
America is Anticipated to Hold a Major Market Share of the Global Affective
Computing Market
North America held the
largest market share in the affective computing market, with a 36.8% of global
market share in 2018. Countries such as the U.S., Canada, and Mexico are
leading with high consumer base in the region. The affective computing is
gaining tremendous revenue, due to huge developments in retail, healthcare,
transportation, and logistics sectors. Businesses involved in artificial
intelligence have been investing more in the affective computing market.
Additionally, import and export patterns, manufacturing volumes, and cost
breakups contribute to the affective computing market revenue in this region.
The application segment
that is creating the lucrative opportunities for affective computing market is
media and advertising. This application segment is projected to grow at a CAGR
of 29.6%, through to 2025. Affective computing can be used in online and
television advertisements, through a real-time video recording of customer, and
the consequent study of end-users facial expressions and emotional state, one
can better judge the impact of media and advertisements in the e-commerce
sector.
Affective Computing
Market Growth Drivers
· A Rise in Demand for Affective
Computing in Education Sector
Affective computing can
be used in e-learning applications to adjust the pattern of presentation of a
computerized tutor. By measuring facial blood flow information with a camera,
it is very easy to determine student’s emotions, where visual data is not
available in transdermal optical imaging technique, in which affective
computing technology is used. Emotionally intelligent computing systems that
can analyze facial expressions and emotional states and enabling instructors to
deliver personalized content that encourages students.
· Augmented Growth in Healthcare
Sector
In the healthcare
sector, affective computing systems can be used for monitoring and recognizing
emotions for various diagnostic purposes. In telepsychiatry, doctor on demand,
and telemedicine practices affective computing technology has its prominence.
In the development of communicative technologies, which are used by autism
people, affective computing technology is deployed, which is increasing its
market in the healthcare sector worldwide.
· Propelled Demand in Video Gaming
Video games can access
gamers’ emotional responses through feedback devices. Nowadays, video games are
designed to give gamers a better gaming experience by accessing players’
emotional responses during the gameplay. To support the emotional development
of autistic children, affective computing technology are used to design video
games.
· Affective Computing in
Government and Defense Sectors
Security technologies
such as facial and gesture recognition and iris scan are crucial to protect
sensitive information in the defense sector. Unauthorized access to the data in
this sector can be calamitous. To reduce fatalities in the defense sector,
copious prototypes of military robots have been developed with affective
computing technology, which in turn, led the market growth, around the globe.
· Growth in Information Technology
and Telecommunication sectors
Application programming
interface and software development kits are installed within the workplace,
which can enhance the work environment. Employees who are working in the IT
& telecom sector commence demanding and critical tasks under tight
deadlines. So, software technologies with affective computing have tremendous
growth in this sector.
The Major Players in the
Affective Computing Market:
The prominent players in
the affective computing market include Affectiva, Inc., Apple Inc., Beyond Verbal
Communication, Ltd., Eyeris Technologies, Inc, GestureTek, Inc., Google Inc.,
IBM, Intel Corporation, Kairos AR, Inc., Microsoft Corporation, Numenta, Inc.,
nViso Sarl, Realeyes Data Services Ltd, and SoftKinetic-Optrima S.A., etc.
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