Product Code: RP-ID-10154322 |
Published Date: 21 Mar 2025 |
Region: Global |
Category: ICT & Telecom |
Report ID: 10154322
Market Overview:
Affective-Computing Market Analysis by Technology (Touch-Based and Touchless); by Components (Software and Hardware); by Software (Speech Recognition, Gesture Recognition, Others); by Hardware (Sensors, Camera, and Others); and by Vertical (Financial Services, Insurance, and Others)-Global Supply & Demand Analysis & Opportunity Outlook 2022-2031
Global Affective Computing Market Scope
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Base Year |
2021 |
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Forecast Year |
2022-2031 |
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CAGR |
~32% |
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Base Year Market Size (2021) |
~ USD 36 Billion |
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Forecast Year Market Size (2031) |
~ USD 417 Billion |
Global Affective-Computing Market Size, Forecast, and Trend Highlights Over 2022 - 2031
The global affective-computing market is estimated to garner a revenue of approximately USD 417 billion by the end of 2031 by growing at a CAGR of ~32% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 36 billion in the year 2021. The progress in technological development is the chief factor driving the growth of the global affective-computing market. It has been estimated that emerging tech experiences growth at a rate of approximately 105% between 2018 and 2023.
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Affective computing is an interdisciplinary field of study combining elements of computer science, cognitive science, and psychology, and involves the research and development of devices and systems that can identify, process, interpret and simulate human emotions. Affective computing technologies employ sensors, cameras, microphones, and more to learn users' emotions and respond accordingly. The response of these technologies includes rendering features of a specific predefined service or product, such as giving video recommendations or changing the quiz according to the learner's mood.
It was projected that artificial intelligence (AI) would generate productivity of over 6 billion hours by 2021. The adoption of various technologies is also resulting in the creation of massive job opportunities. For instance, it is estimated that the wide use of mobile banking technologies can create more than 90 million job opportunities. Moreover, considerable progress is being projected in the technology of the Internet of Things (IoT). The total number of IoT devices is estimated to reach more than 75 billion by 2025. All these technological advancements imply growth in the global affective-computing market forecast.
Global Affective-Computing Market: Growth Drivers and Challenges
Growth Drivers
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Rapid Growth of Smart Home Automation - A smart home connects with technology to improve the experience of a home with smart devices, including smart locks, smart thermostats, smart doorbells, and more. Machine-giving emotional responses are a result of combining affective computing with robotics, machine learning, and big data. It is estimated that the number of smart homes is to surpass 4700 million in 2025, with a smart home penetration rate of over 210%.
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Vast Use of Wearable Devices - The pervasive sensors in wearable devices help one monitor behavioral and physiological signals in everyday life. The number of connected wearable devices was predicted to cross 1 billion by 2022. Similarly, in 2020, the shipment volume of wearables that was recorded was close to 370 million units.
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Increasing Demand for Virtual Assistants – The development of virtual assistants is another progress under affective computing or emotional AI. With time the need for such virtual assistants is also becoming more extensive. It has been estimated that about 60% of virtual assistants have full-time employment, and they save the operational cost of a company by about 80%.
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Growing Deployment of Robots – The affective-computing application can be observed in social robots. The global industrial robot shipment in 2020 was close to 400000 units, and it is estimated to surpass 500000 units by 2024. Thus, the increase in the use of robots in various fields is sure to contribute to the growth of the global affective-computing market.
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Rapid Growth of Gaming Globally – Affective gaming learns the player's emotions and develops the game by expressing and modeling the emotions of non-playing characters accordingly. The size of the online gaming audience is projected to surpass 1 billion by 2025.
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Greater Adoption of E-learning System - Affective learning can enable computers to accommodate students' emotions to deliver intelligent tutoring. As of 2022, more than 35% of fortune 500 companies use e-learning for training, and more than 90% of companies plan to adopt an online education system. Close to 60% of employees globally prefer learning at their pace, and e-learning has been observed to increase employee productivity by about 25%.
Challenges
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Affective-Computing System's Production Cost Increasing Singularly
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Widening Gap Between Research and Real-life Application
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Lack of Preparedness to Face Technical Challenges
The global affective-computing market is segmented and analyzed for demand and supply by technology into touch-based and touchless. Between these touch-based technology is anticipated to hold the largest size by 2031. This prominence of touch-based technology is due to the significance of hardware components like sensors, cameras, and storage devices for a full-fledged affective-computing solution. Touch-based technology is mainly seen in wearable electronics like watches, wristbands, wearables, and more. The global shipment volume of such wearables in 2021 was close to 535 million units. Of the wearables, fitness bands and smartwatches are expected to show growth in shipment volume between 2021 and 2024. Their shipment count is expected to reach 300 million units by 2024.
Global Affective-Computing Market Regional Synopsis
Regionally, the global affective-computing market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these, the market in the North American region is projected to hold the largest market share by the end of 2031. The foremost reason for the huge market share is the degree of technological advancement in the region, especially in the U.S. The U.S. tech industry was projected to hold a growth of 6% in 2021. The extensive preference for smart homes is another factor driving the market growth in North America. The U.S. has over 41 million smart homes with a penetration rate of over 32%. When it comes to the profession of virtual assistants, nearly 88% are women, and about 12% are men. There has been considerable growth in robot density in the U.S. in just three years. The robot density of around 190 robots per 10000 employees in 2016 changed to about 230 robots per 10000 employees in 2019. Another significant factor worth mentioning is the progress of the e-learning industry in the region. E-learning could result in a rise in income for more than 40% of U.S. organizations.
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Market Segmentation
Our in-depth analysis of the global affective-computing market includes the following segments:
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By Technology |
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By Components |
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By Software |
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By Hardware |
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By Vertical |
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Key Companies Dominating the Global Affective-Computing Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global affective-computing market that are included in our report are Google, Microsoft, IBM, Cognitec Systems GmbH, Cipia Vision Ltd., Affectiva., Qualcomm Technologies, Inc., Kairos AR, Inc., Elliptic Laboratories ASA, Pyreos (Broadcom), and others.
Global Affective-Computing Market: Latest Developments
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January, 2022: Pyreos (Broadcom) - announced the first volume shipment of its breath analysis sensor, PY3151, to hospitals and ICUs for treatment, including for COVID-19 patients. Compared to previous Pyreos CO2 detectors, the PY3151 dual-channel infrared detector has its signal to noise (SNR) raised 2.5 times, and signal output increased by 4 times.
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January, 2021: Cipia Vision Ltd. - partnered with OmniVision Technologies, Inc., to create the first driving monitoring solution readied for mass market entry. The monitoring system combining OmniVision's OAX8000 automotive application-specific integrated circuit (ASIC) and Cipia’s driver monitoring software addresses both regulatory requirements and safety standards.
Key Reasons to Buy Our Report
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The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
- Microsoft
- IBM
- Cognitec Systems GmbH
- Cipia Vision Ltd.
- Affectiva.
- Qualcomm Technologies Inc.
- Kairos AR Inc.
- Elliptic Laboratories ASA,
- Pyreos (Broadcom)
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