A New Study Provides Fresh Insights Into Key Trends that Will Keep the Affective Computing Market Moving Into 2025
The global market for Affective Computing is projected to reach US$131 billion by 2025, driven by growing awareness over the real importance of emotion in advancing the capability of artificial intelligence (AI) technology.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Affective Computing market. Report segmentation includes Component (Software, Hardware); End-Use (Market Research, Media & Advertising, Healthcare & Lifesciences, Automotive, Other End-Uses) ).
10 June 3:28 A.M., California/Marketwire/ - According to the new market research report, the global market for Affective Computing is projected to reach US$131 billion by 2025, driven by growing awareness over the real importance of emotion in advancing the capability of artificial intelligence (AI) technology. Given that human decision making processes is a complex combination of cognitive functions and emotional, also known as affective functions, machines will need to understand and respond to human emotions in order to function effectively, efficiently and safely alongside humans. Emotional intelligence is therefore the next logical step in the evolution of AI based machines in order to help humans fully realize the many benefits of the technology. Few the factors which indicate affective computing as ripe for commercial growth include rapid proliferation of AI and the continuous quest for emotionally responsive AI for a more natural interaction between humans and machines; need for emotion-detection and emotion intelligence becomes more important than ever as AI robots and assistants take over more and more of human functions in education, industry, healthcare, and day to day living.
As robots become more autonomous, spontaneous decision making becomes a very important and vital capability. The role of emotions in decision making is therefore gaining increasing prominence since lack of emotion can impair the decision-making process and seriously compromise the quality of decisions. Consciousness, self-awareness, emotional intelligence, empathy and compassion which are unique qualities of humans are also important requirements for AI machines. Against the backdrop of this need, rising over the horizon is affective computing, a branch of cognitive computing that helps machines recognize, interpret, process and simulate emotions. With emotions being increasingly analyzed and tapped for machine use, emotion economy is an emerging market opportunity where affective computing will play a key role in bridging cognitive and emotional gap between computers and humans. A key trend in the market is the rapid transition of affective computing from unimodal to multimodal approaches with multi-sensor data fusion showing immense potential for increasing accuracy and reliability. New algorithms and software are being developed to assess mood through interaction and conversation. Rise of affective analytics is helping enhance deep learning algorithms to build artificial emotional intelligence based on computation of emotions via facial expressions, emojis, and appearance using a metric system.
Key Competitors Covered in the Report
Cognitec Systems GmbH
Elliptic Laboratories AS
Eyesight Technologies Ltd.
Geographies Analyzed in the Report
Europe (France, Germany, Italy, United Kingdom, and Rest of Europe)
Rest of World
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 24488. Among this pool, 2204 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 492 unique participations, a total of 221 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
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Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
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