Affective Computing Market Size To Reach $298.7 Billion By 2028

IMARC Group, a leading market research company, has released a report titled “Affective Computing Market: Global Industry Trends, Share, Size, Growth, Opportunities & Forecasts 2023-2028The global affective computing market size reached $51.1 billion in 2022, according to the report. Looking ahead, IMARC Group expects the market to reach $298.7 billion by 2028, with a growth rate (CAGR) of 34.5% in 2023-2028.

Affective computing, or emotional artificial intelligence, allows computers to interpret, simulate, recognize and process human emotions and feelings. Apply knowledge of psychology, computer science and cognitive science. Affective computing analyzes emotions using big data, different sensors, artificial intelligence and an analysis engine. Companies leverage the insights gained from this system to improve decision making in consumer-centric processes, such as marketing, sales, and customer service. As a result, affective computing finds widespread applications in e-learning and autonomous systems.

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Affective Computing Market Drivers and Trends:

The growing penetration of the Internet and the growing demand for wearable devices are the main factors driving the global affective computing market. It is further supported by the growing need for companies around the world to understand consumer behavior. In addition to this, rapid technological development has inflated the demand for advanced electronic devices, such as voice-activated biometrics, which is driving the growth of the market. Furthermore, the growing diffusion of software tools in educational institutions and of support mechanisms in medical services is creating positive prospects for the market.

Report segmentation:

The report segmented the market into the following categories:

Breaking by technology:

Breakage by components:

• Hardware
  • sensors
  • Cameras
  • Storage devices and processors
  • Others
• Software
  • Analysis software
  • Enterprise Software
  • Facial recognition
  • Gesture recognition
  • Vocal recognition

Breakage for end use:

• Automotive sector
• BFS extension
• Government
• Health care
• IT and Telecommunications
• Others

Market breakdown by region:

• North America (USA, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, UK, Italy, Spain, Russia, others)
• Latin America (Brazil, Mexico, others)
• Middle East and Africa

Competitive landscape with key player:

• Affective Inc.
• Cipia Vision Ltd.
• Cognitec Systems GmbH
• Elliptic Laboratories A/S
• Google LLC (Alphabet Inc.)
• Intel company
• International Business Machines Corporation
• Kairos AR Inc.
• Microsoft Corporation
• Nuance Communications Inc.

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