Affective Computing Market: Understanding Consumer Emotion Recognition

The global affective computing market was valued at USD 62.53 billion in 2023 and is expected to grow to USD 388.28 billion by 2030, with a CAGR of 30.6% from 2024 to 2030. The rapid advancements in artificial intelligence (AI), machine learning (ML), and sensor technologies, along with a heightened focus on enhancing user experience, have driven market growth. Additionally, the increasing demand for sentiment analysis and emotional intelligence in customer service and marketing has prompted businesses to invest in affective computing solutions.

Various industries, including media and entertainment, advertising services, healthcare and life sciences, and IT & telecom, have begun adopting affective computing solutions to create more personalized user experiences. As technology continues to innovate, other sectors are anticipated to utilize affective computing techniques during the forecast period.

According to a report from the International Federation of Robotics, the demand for service robots is projected to surge in the near future, especially in critical fields like transportation, logistics, healthcare, and agriculture. Service robots play a significant role in hospitality, medical procedures, and other services where direct human interaction is common. By integrating affective computing solutions, these robots can enhance service operability and improve the user experience. Furthermore, rapid advancements in audio and visual sensor technologies have enabled a more personalized user experience in these service sectors.

Key Market Trends & Insights

• North America led the market with a revenue share of 40.1% in 2023. The region hosts numerous innovative and technologically advanced companies, including Affectiva, NuraLogix Corporation, and IBM, which significantly contribute to the affective computing industry.

• In 2023, the U.S. represented the largest share of the regional market. This is supported by the presence of various companies that have implemented affective computing solutions to enhance their business and maintain their competitive edge.

• In terms of components, hardware components captured the largest market share in 2023, driven by the rising demand for specialized emotion detection and analysis devices.

• Regarding end use, healthcare and life sciences held the largest market share in 2023. This is due to the increasing acknowledgment of the vital role emotional intelligence plays in patient care, diagnosis, doctor-patient communication, and treatment outcomes.

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Market Size & Forecast

• 2023 Market Size: USD 62.53 Billion

• 2030 Projected Market Size: USD 388.28 Billion

• CAGR (2024-2030): 30.6%

• North America: Largest market in 2023

• Asia Pacific: Fastest growing market

Key Companies & Market Share Insights

Some prominent companies in the affective computing market include Affectiva, NuraLogix Corporation, and Cognitec Systems GmbH, among others.

• Affectiva is a software and AI solutions company that boasts a comprehensive dataset from over 90 countries, enabling it to develop precise deep learning algorithms. It offers various solutions, including ad testing, entertainment content testing through Emotion AI, qualitative research via its cloud-based service, the Emotion SDK, in-cabin sensing AI for the automotive industry, and behavioral research with iMotions solutions. In 2021, Affectiva was acquired by Smart Eye, a Swedish company specializing in AI technology solutions.

• NuraLogix Corporation is a Canadian company focused on affective AI solutions. It is recognized for its Anura application, which allows contactless health and wellness monitoring by detecting vital health signs from a 30-second facial video. This capability is made possible by its Transdermal Optical Imaging (TOI) technology, which captures facial blood flow information using a video camera. Additionally, the company provides a cloud-based platform called DeepAffex that employs machine learning models for health monitoring. NuraLogix is actively expanding the geographical reach of its Anura platform, having showcased it for the first time at the World IT Show 2024 in South Korea.

Key Players

• Affectiva

• Apple Inc.

• Cognitec Systems GmbH

• Google LLC

• IBM

• Microsoft

• NuraLogix Corporation

• Qualcomm Technologies, Inc.

• Realeyes

• Sony Corporation

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Conclusion

growth is driven by advancements in AI, machine learning, and sensor technologies, along with a rising demand for sentiment analysis in customer service and marketing. Various sectors, including media, healthcare, and IT, are increasingly adopting affective computing solutions for personalized The global affective computing market user experiences. Additionally, the demand for service robots is expected to rise in areas like transportation and healthcare, where integrating affective computing can enhance service quality and user satisfaction.