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The market for affective computing is valued at US$90.9 billion by 2026 and is projected to grow at a CAGR of 22.8% during the forecast period of 2021-2026.
HYDERABAD, TELANGANA, INDIA, Sept. 21, 2022 /EINPresswire.com/ — The affective computing market is valued at US$90.9 billion by 2026 and is projected to grow at a CAGR of 22.8% during the forecast period of 2021-2026 The affective computing platform enables a computing device, through artificial emotional intelligence or emotion AI, to recognize a user’s non-verbal emotional cues and respond in real time by communicating video, gestures and moments, physiology and other behaviors to the interface . The increasing demand for virtual assistants by the day, advances in detecting fraudulent activity, and improved security in the automotive and banking sectors have contributed to significant growth in the overall active computing market. The camera is one of the critical components in the overall affective computing using the application, is estimated to be the fastest growing segment during the forecast period and helps support the affective computing manufacturing commercial establishments, public places and government agencies.
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The central theses:
This IndustryARC report on the Affective Computing Market highlights the following areas:
1. North America held a major market share of more than 32% for the affective computing market in 2020, which is mainly dominated by the United States. engages in the development of technologically advanced computing devices.
2. Speech recognition software solution is one of the promising sub-segments in the software segment. This analysis software is used to provide different results according to users’ requirement. This analysis software mainly consists of neural analysis and predictive analytics software and includes various programming languages like R and Python that help to make the better prediction for the affective computing system.
3. Artificial intelligence in healthcare has increased and has a significant impact in driving the application in question. Babylon-Health is one of the big companies that focuses on healthcare applications to offer better services to its customers.
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Segment Analysis:
1. The Healthcare and Life Science segment is expected to grow at the highest CAGR of 25.3% during the forecast period. The healthcare segment has the potential and offers more advanced applications for affective computing.
2. North America region dominated the global affective computing market with a share of more than 32.8%, followed by Europe and APAC in 2020. North America is one of the leading regions driving technological advancements, including artificial emotional intelligence or emotional AI, comprehensive assumes scale.
3. Affective Computing market is segmented into hardware and software segments. The speech recognition sub-segment currently dominates the software segment for the affective computing market with a 54% share of the software market in 2020.
Competitive landscape:
The top 5 in the affective computing industry are:
1. Apple Inc
2. Google Inc
3. Qualcomm Inc
4.Microsoft Corporation
5. Elliptical Laboratories
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