Global affective
computing market is anticipated to thrive in the forecast
period 2023-2028
due to the growing need for socially intelligent artificial agents as well
as affective computing solutions connected to telemedicine. Additionally, it is
expected that the market for affective computing will expand due to the growing
use of wearable technology, increased internet penetration across industrial
verticals, and global technical breakthroughs. Further predicted factors for
the growth of the affective computing market are the rising desire for high
operational excellence, increased resource utilisation, and better
productivity. However, the rise in the cost of manufacturing affective
computing systems and the disconnect between academic research and practical
applications are further anticipated to restrain the development of the global
affective computing market.
Artificial emotional
intelligence is another name for affective computing. It represents a
human-computer interaction where the computer recognizes the user's cues and
responds appropriately. For Instance, a computer tool powered by emotional
Artificial Intelligence can recognize when a student is having trouble
understanding a concept by analyzing their facial expressions while exploring
the concept and directing them to the right resources to help.The inputs in the
form of various physical and facial movements are gathered with the assistance
of a number of auxiliary devices, such as sensors and cameras, and supplied to
various algorithms for analysis to determine the user's emotional state. To
promote efficient interactions, relevant technologies and IT systems can also
be used to meet users' subconscious or subliminal cues. In order to measure and
analyse consumers' subconscious input, emotional computing is finding
applications across several businesses and industrial verticals.
Depending on the
user's mood, affective computing may also be utilised for customization, such
as adjusting the music, lighting, and temperature. For instance, a Gestele
prototype expands the gestures, emotions, or other types of communication that
people with speech impairments or any other impairments can track. Affective computing
is also becoming more popular as a result of the expanding use of robotics.
Affective computing usage is anticipated to be significantly influenced
throughout the forecast period by the expanding use of artificial intelligence
(AI) in applications such as logistics, autonomous vehicles, parking assistance
software, and surgical robots, among others.
Increased Automation
in Contact Centers
Affective computing is an exceptional chance and has demonstrated its
potential in the search for efficiency improvement in the retail industry and
other industries, where consumer engagement is quite strong. They are already employed to determine from the voices of consumers how
the client felt throughout their engagement with the customer care
representative. Security personnel can utilise it to determine a caller's
emotional state such as stress so they can respond more appropriately. The previous technologies used by legacy contact centres prevent them
from supporting modern channels like social media, mobile app conversations, or
videos. Increased automation is simple to implement and may assist businesses
in meeting demand, particularly in cloud-based contact centres. Application programming interfaces (APIs) for communication can be used
to incorporate modern channels. The use of analytics-led insights may then be
made to provide individualised and context-rich consumer experiences.
Additionally, because there is no centralised office, agents may work remotely
to provide customer support services. For instance, Answer Connect, a US-based call centre provider, adopted a
technology that permitted seasonal scalability without any negative financial
effects. The organisation was able to scale up or down in response to call
levels while keeping operations operating continuously because of Amazon's
service, ‘Amazon Connect’. These facilities are equipped with the essential infrastructure to
enable affective computing systems since they process enormous amounts of data
and can further enhance the systems for accuracy and volume. The rise of contact centres is a result of the increased emphasis on
providing the greatest customer service and experience, and the industry is
predicted to expand as a result of the sectors' increased use of automation to
increase production. In order to increase productivity, enhance the customer experience, and
give customers self-service choices, automation is increasingly being employed
in contact centres. For instance, a chatbot can converse with a customer
through chat and respond to common inquiries. Automation is used in a broad variety of ways in contact centres.
Customers' interactions with interactive voice response (IVR) systems, for
instance, have transformed as a result of automated speech recognition (ASR),
enabling them to self-serve more. Artificial intelligence (AI) technology
assists customer service representatives in their phone or chat interactions
with clients by providing solutions and suggested replies. Moreover, to
facilitate automation in contact centres, businesses are also working to
develop innovative affective computing technologies. Automation Anywhere, a
pioneer in automated processes, released Automation Anywhere for contact centres
in October 2021. This cloud-native, AI-driven automation solution aids
businesses in providing better customer service more rapidly. These factors are
driving the global affective computing
market.

Download Free Sample Report
Cloud-Based
Solutions and Online Solutions are Growing Increasingly Common
Industry use of
cloud-based solutions has been escalating. They increase operational agility so
that companies may easily update their services without worrying about the
infrastructure expenditure. Since dangers and worries about data security have
grown over time, this has been used for backup services across many sectors. Additionally,
online training and e-learning have gained popularity recently since they
employ cutting-edge technology to create the best possible learning
environment. Emotional contact in the context of education is still lacking in
these learning methods. They are unable to replicate the conventional learning
setting in which the teacher and students are seated face to face. Such
commercial difficulties can be readily handled using affective computing. Moreover,
cloud solutions have become the most sought-after alternative for businesses
and organisations coping with numerous file formats and variable file
quantities. The adoption of a systematic strategy that improves performance,
multichannel support and engagement, and analytics reporting has become a
prerequisite for businesses to successfully serve a client base where the
consumer preferences are always changing. Affective computing solutions have
gained popularity because they continually process raw data that is always
growing and learning from enormous data sets. Most organisations currently use
cloud-based services. For instance, due to disjointed systems and ineffective
task distribution, Vodafone Shared Services had several customer service
challenges in its on-premise contact centre. This negatively impacted the
company's ability to provide excellent customer care. As a result of a
cloud-based solution was used by the business to add new functions, such more
channels for assistance, which led to a 15% boost in productivity gains. For
instance, due to disjointed systems and ineffective task distribution, Vodafone
Shared Services had several customer service challenges in its on-premise
contact centre. This negatively impacted the company's ability to provide
excellent customer care. As a result of a cloud-based solution was used by
the business to add new functions, such more channels for assistance, which led
to a 15% boost in productivity gains. In response to changing consumer habits
in the digital and social spheres as well as the need for secure and readily
available electronic health records (EHRs), hospitals, clinics, and other
medical organisations are increasingly relying on the cloud for document
storage, marketing, and human resources. Corporate environments necessitate the
most significant IT investment. By enhancing productivity, removing the need
for a big security and maintenance team, and cutting the cost of server space,
enterprise cloud adoption leads to considerable bottom-line savings. This will
boost the adoption of affective computing in a wide array of verticals.
Market Segmentation
The affective computing market
is segmented into component, deployment, enterprise size, technology,
application, and region. Based on component, the market is segmented into
hardware and software. Based on deployment, the market is
segmented into on-premise and cloud. Based on enterprise size, the market is
segmented into large enterprises and SMEs. Based on technology, the
market is segmented into touch and touchless. Based on application, the market is segmented into automotive,
healthcare, retail, IT & telecom, and others. Based on region,
the market is further bifurcated into North America, Asia-Pacific, Europe,
South America, and Middle East & Africa.
Market Player
Major market players in the global affective
computing market are Amazon Web Services Inc., Affectiva Inc., Nuance
Communications Inc., Nemesysco Ltd., Eyesight Technologies Ltd., Element Human
Ltd.,Emotibot Technologies Limited, Kairos AR, Inc., Realeyes Data Services
Ltd., and audEERING GmbH.
Recent Development
Affectiva was credited by Smart Eye, a provider
of Driver Monitoring Systems and high-fidelity eye tracking technology, to help
the two companies work together to become a worldwide AI powerhouse in 2021.
Affectiva's extensive experience in machine learning, data collecting,
annotation, and AI ethics ensures the sharp eye to provide Human Insight AI
that explains, helps, and predicts human behaviour in complex environments.
Attribute
|
Details
|
Base Year
|
2022
|
Historic Data
|
2018 –
2021
|
Estimated Year
|
2023
|
Forecast Period
|
2024
– 2028
|
Quantitative Units
|
Revenue in USD Million and CAGR for 2018-2022 and 2024-2028
|
Report Coverage
|
Revenue
forecast, company share, growth factors, and trends
|
Segments Covered
|
Component
Deployment
Enterprise Size
Technology
Application
Region
|
Regional Scope
|
North
America; Asia-Pacific; Europe; South America; Middle East & Africa
|
Country Scope
|
United States, Canada, Mexico, China, India, Japan, South
Korea, Australia, Singapore, Malaysia, Germany, United Kingdom, France,
Russia, Spain, Belgium, Italy, Brazil, Colombia, Argentina, Peru, Chile,
Saudi Arabia, South Africa, UAE, Israel, Turkey
|
Key Companies Profiled
|
Amazon Web Services Inc., Affectiva Inc., Nuance
Communications Inc., Nemesysco Ltd., Eyesight Technologies Ltd., Element
Human Ltd.,Emotibot Technologies Limited, Kairos AR, Inc., Realeyes Data
Services Ltd., and audEERING GmbH
|
Customization Scope
|
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
|
Pricing and Purchase Options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
Delivery Format
|
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
|
Report Scope:
In this report, the global affective computing market
has been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- Affective Computing Market, By Component
o Hardware
o Software
- Affective Computing Market, By
Deployment:
o On-Premise
o Cloud
- Affective Computing Market, By
Enterprise Size:
o Large Enterprises
o SMEs
- Affective Computing Market, By
Technology:
o Touch
o Touchless
- Affective Computing Market,
By Application:
o Automotive
o Healthcare
o Retail
o IT & Telecom
o Others
- Affective Computing Market,
By Region:
o North America
§ United States
§ Canada
§ Mexico
o Asia-Pacific
§ India
§ China
§ Japan
§ South Korea
§ Australia
§ Singapore
§ Malaysia
o Europe
§ Germany
§ United Kingdom
§ France
§ Russia
§ Spain
§ Belgium
§ Italy
o South America
§ Brazil
§ Argentina
§ Colombia
§