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Affective Computing Market by Technology, Software, Hardware, Vertical, and Region - Forecast to 2021

Affective Computing Market: Forecast until 2021

  • March 2017
  • 128 pages
  • ID: 4801484
In this report:
The healthcare and life sciences vertical is expected to hold the largest market share in 2016 and is expected to grow from USD ##.## million in 2016 to USD ##.## million by 2021, at a CAGR of ##.##% during the forecast period.
Facial feature extraction and gesture recognition software platforms are the two major software vendor offerings in the affective computing market, and both together are expected to account for over ##% of the market share in 2021.

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Frequent advancement in the field of gesture recognition, facial feature extraction, and speech analytics is anticipated to bring about lucrative business prospects in the affective computing domain

MarketsandMarkets expects the overall affective computing market to growth from ~$12.2B in 2016 to ~$54.0B by 2021, at a CAGR of 34.70 percent. The industry is escalating quickly, owing to growing digitization and continuous advancements in the field of cognitive science and computer science that are shaping the way for a new technology. On the other hand, the cost incurred in making affective computing systems is more and the tangible return on investment is low, thereby posing a main restraining factor for the market's increase.

Touchless technology is projected to dominate the affective computing technology market by the end of the forecast period

The affective computing market is segregated into touch-based and touchless technologies. Touch-based technology recorded for the biggest market share during the initial phase of the increase period. Nevertheless, due to increasing technological improvements, the touchless technology is forecasted to dominate the sector.

Asia Pacific (APAC) is anticipated to grow at the highest compound annual growth rate (CAGR)

Asia-Pac affords prospective increase opportunities. The main factors affecting the rise in the Asia-Pacific regions contain smart technology initiatives increasing demand for wearable devices, and growing investments in security infrastructure. Furthermore, the APAC countries have witnessed tremendous traction, in terms of technological innovations, containing facial feature extractions, gesture recognition, and speech recognition, along the increasing adoption of neural analytical solutions.

In the process of finding out and checking the market value for various segments & sub-segments collected by secondary research, extensive primary audit sessions were managed with main people. Distribution of profile of primary members taking part is like:

- By Company category - Tier 1 56.0 percent, Tier 2 20.0 percent, and Tier 3 24.0 percent

- By Designation - C-Level- 72.0 percent and Manager Level- 28.0 percent

- By area - North america (NA)- 58%, Europe- 22.0 percent, and APAC- 20.0 percent

The main players in the affective computing ecosystem are Google (NASDAQ:GOOG), IBM (NYSE:IBM), Microsoft (NASDAQ:MSFT), Saffron Technology, Softkinteic System S.A., Affectiva, Elliptic Labs, Eyesight Technologies Ltd., Pyreos Ltd., Cognitec Systems GmbH, Beyond Verbal Communication Ltd., Numenta, GestureTek, and SightCorp.

Segment Research

The affective computing market is divided by technology, which comprises touch-based and touchless technologies. Affective computing software is further broken down into speech recognition, gesture recognition, facial feature extraction, analytics software, and enterprise software. Affective computing hardware is classified into sensors, cameras, storage device, processors, and others (inclduing touch point/screen/display, radio/antenna, and microphone/speaker).

Segmentation on the basis of verticals contain academia & analysis, media & entertainment, government & defense, healthcare & life sciences, Information Technology & telecom, retail & e-commerce, automotive, and Banking, Financial Services, & Insurance. The regional review includes the study of North America, Europe (EU), Asia Pacific (APAC), and the Rest of World.

Why acquiring this study can help you

The study will facilitate the market top players or new sector entrants in these ways:

1. This document breaks down the market into various parts, covering this sector overall. The analysis offers the best approximations of the revenue data for the global market and the segments.

2. This industry report will facilitate in the better understanding of the competitors and there is a separate division on opposing landscape, including mergers & acquisitions, integrations & business developments, and alliances among market vendors.

3. The market research helps in understanding the global increase of the market, main market drivers, market restraints, opportunities, and alternatives.

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