Soaring Demand Set to Propel Affective Computing Market to $280.09 Billion by 2029

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What Is the Expected CAGR for the Affective Computing Market Through 2025?
In the past years, the market size of affective computing has experienced significant rise. It is projected to expand from $80.41 billion in 2024 to $103.46 billion in 2025 with a Compound Annual Growth Rate (CAGR) of 28.7%. The historical period growth can be ascribed to the increasing use of electronic devices, the expansion of gesture-enabled IoT devices for smart home automation, escalating demand for voice-controlled workstations and navigation systems, inclusion of in-car entertainment systems, and growing acceptance of sophisticated electronic devices.

What's the Projected Size of the Global Affective Computing Market by 2029?
The market size of affective computing is predicted to experience a significant upswing in the coming years, reaching $280.09 billion in 2029 at a Compound Annual Growth Rate (CAGR) of 28.3%. This predicted growth during the forecast period can be ascribed to factors such as the increased penetration of the internet, the shift towards smart wearable devices, the usage of gesture-enabled IoT devices for smart home systems, the growing application of wearable technology, and the grand scale adoption of services based in the cloud. Key trends to watch during the forecast period incorporate the debut of new products and technologies, innovative endeavours catering to consumer demands, the requirement for research in affective computing, and addressing issues related to emotion regulation and communication.

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Top Growth Drivers in the Affective Computing Industry: What's Accelerating the Market?
The rise in the use of Internet of Things (IoT) devices is predicted to spur the progression of the affective computing market in the future. IoT devices, unconventional computing hardware that wirelessly links to a network and can disseminate data, are employed in affective computing to interpret and process human emotions through technology. For instance, as per DataProt, a cybersecurity information firm based in the Republic of Serbia, in May 2023, it was projected that by 2030 there would be over 25.4 billion IoT devices in operation and these devices are predicted to connect to the internet at a pace of 152,200 per minute by 2025. Consequently, the increasing adoption of Internet of Things (IoT) devices is fuelling the expansion of the affective computing market.

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What Trends Will Shape the Affective Computing Market Through 2029 and Beyond?
Leading businesses active in the affective computing market are creating innovative solutions, such as novel AI facial recognition and emotion detection systems, in an effort to maintain their market standing. AI facial recognition and emotion detection technologies merge artificial intelligence (AI) and computer vision to scrutinize facial expressions and discern the emotions exhibited by people. For example, in August 2022, US-based software development firm Intetics Inc. launched a novel AI facial recognition and emotion detection system. This solution employs machine learning and artificial intelligence to autonomously evaluate sentiment and emotions by analyzing facial expressions, body language, and other nonverbal cues. This field includes recognizing facial emotions and the automated assessment of sentiment extracted from non-verbal cues like body language, voice patterns, gestures, facial expressions, among others. Emotion detection systems go above and beyond facial recognition, including the examination of body language, voice patterns, and other non-verbal signs to provide a more thorough understanding of a person's emotional state.

What Are the Main Segments in the Affective Computing Market?
The affective computing market covered in this report is segmented -

1) By Technology: Touch-Based, Touchless
2) By Component: Hardware, Analytics Software, Cameras, Other Components,
3) By Vertical: Media And Entertainment, Healthcare And Life Sciences, Government And Defense, Banking, Financial Services And Insurance (BFSI), Other Verticals

Subsegments:
1) By Touch-Based: Gesture Recognition, Facial Recognition, Biometric Sensors
2) By Touchless: Voice Recognition, Emotion Detection via Video Analysis, Environmental Sensors

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Which Top Companies are Driving Growth in the Affective Computing Market?
Major companies operating in the affective computing market report are Amazon.com Inc., Apple Inc., Alphabet Inc., Microsoft Corporation, Sony Group Corporation, Panasonic Corporation, Intel Corporation, International Business Machines Corporation, Qualcomm Technologies Inc., NEC Corporation, Tobii Technology AB, Gorilla Technology Group, Noldus Information Technology, Entropic Technologies, Affectiva Inc., Beyond Verbal Communication Ltd., iMotions A/S, Sentiance NV, audEERING GmbH, Gesturetek Inc., NuraLogix Corporation, NVISO Inc., Numenta Inc., Kairos AR Inc., Cipia Vision Ltd.

Which Regions Will Dominate the Affective Computing Market Through 2029?
North America was the largest region in the affective computing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the affective computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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