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(MoneyNewsWire.Net, February 25, 2018 ) Research Cosmos forecasts the affective computing market size to grow from USD 12.20 Billion in 2016 to USD 53.98 Billion by 2021, at an estimated Compound Annual Growth Rate (CAGR) of 34.7%. Major factors contributing to the growth of the market are the increasing adoption of human and machine interaction technologies.
The global affective computing market is segmented by technology, software, hardware, vertical, and region. The market for affective computing systems has already started to evolve, with enabling technologies already being adopted across verticals, such as academia & research, media & entertainment, government & defense, healthcare & life sciences, IT & telecom, retail &eCommerce, BFSI, automotive, and others, including, travel, security, energy & power, and consumer electronics. This market study has been further segmented into four regions, namely, North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).
Browse Market Data Tables and In-Depth TOC of the Affective Computing Market to 2021 @ https://www.researchcosmos.com/reports/global-affective-computing-market-analysis-and-forecast-to-2022-growth-opportunity-assessment/6414706
The hardware segment of the affective computing market is segregated into cameras, sensors, storage devices & processors, and other components, including power management systems, touchpoints/displays, radios/antennas, microphones, and speakers. Deployment of cameras for affective computing is expected to witness notable growth over the coming years, owing to the rising demand in facial feature extraction software.
The healthcare and life sciences vertical recorded the largest market share in terms of affective computing technology implementation, owing to the large number of application areas in the vertical, which include facial expression recognition for the specially abled children (autism, dyslexia, and others) and detection of psychological disorders.
The affective computing systems incorporate technologies, including the touch-based and touchless technology and captures human emotional quotient through software tools, such as facial feature extraction, speech recognition, gesture recognition, analytics software, and enterprise software. Facial feature extraction software segment is expected to witness the highest growth rate, owing to its growing demand for smartphones and other authenticating devices.
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North America is estimated to hold the largest market share in 2016 due to the presence of a large number of enterprises deploying affective computing technologies, along with technological advanced scenarios. However, APAC offers the potential growth opportunities for the market to emerge over the coming years and surpass the North American affective computing market in terms of technology adoption. The key factors driving the growth rate in the APAC region include increasing technological implementations and rising smart city investments.
Slow digitization rate across emerging economies, exuberant cost of making affective computing systems, and other operational challenges are the major restraining factors for the growth of the global affective computing market.
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The prominent players in the affective computing ecosystem are Google Inc. (California, U.S.), IBM Corporation (New York, U.S.), Microsoft Corporation (Washington DC, U.S.), Saffron Technology (North Carolina, U.S.), Softkinetic System S.A. (Brussels, Belgium), Affectiva (Waltham, U.S.), Elliptic Labs (Oslo, Norway), eyeSight Technologies Ltd. (HerzliyaPituah, Israel), Pyreos Ltd. (Edinburgh, U.K.), Cognitec Systems GmbH (Dresden, Germany), Beyond Verbal Communication Ltd. (Tel Aviv, Israel), Numenta (California, U.S.), GestureTek (Toronto, Canada), and Sightcorp (Amsterdam, Netherlands).
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Research Cosmos
Dani Rodriguez
+1 888 709 8757
dani@researchcosmos.com
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