The global affective computing market is anticipated to grow at a significant CAGR of 26.2% during the forecast period (2024-2031). Emotional intelligence offers immense opportunities for companies and their brands to maintain prominence in the market by analyzing consumer’s emotions. Several brands are already taking leverage of this technology to maintain their prominence in the marketplace. For instance, the Over-the-top (OTT) platform provider Zee5 is using 'emotion' sensing artificial intelligence (AI) to discover content preferred by India's tier-2 and tier-3 cities. Flipkart is deploying such tools to strategically place sale banners on its mobile app, while P&G studied the subconscious preferences of consumers to improve the package design of its products.

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Additionally, Star Disney tested six versions of the promo before launching a new primetime show to optimize promotion budget allocation. Brands are increasingly using facial expressions, eye tracking, voice modulation, body movements, and several other concepts of 'emotion AI', to better their business offerings. The use cases extend from digital advertising, mental health diagnosis, and consumer research to enhancing safety in public spaces. Affective computing makes use of data collected using cameras on mobile devices, laptops, and desktops and processed through its tech stack on facial coding, eye tracking, and Voice AI. The growing adoption of this technology to offer personalized products and services to customers is driving global market growth.

Market Coverage

The market number available for – 2023-2031
Base year- 2023
Forecast period- 2024-2031
Segment Covered- 

o             By Component

o             By End-User

Regions Covered-

o             North America

o             Europe

o             Asia-Pacific

o             Rest of the World

Competitive Landscape- includes Affectiva Inc., Element Human Ltd., Kairos AR Inc., Nuance Communications, Inc., and Google LLCamong others.

Key questions addressed by the report

What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
Who is the leader in the market?
How are players addressing challenges to sustain growth?
Where is the investment opportunity?

Global Affective Computing Market Report Segment

By Component

Hardware
Cameras
Sensors
Storage Devices & Processors
Software
Analytics Software
Enterprise Software
Facial Recognition
Gesture Recognition
Speech Recognition

By End-User

BFSI
Healthcare
Automotive
Retail & E-Commerce
IT & Telecom
Others (Media & Entertainment)

A full report of Affective Computing Market available @  https://www.omrglobal.com/industry-reports/affective-computing-market

Company Profiles

Amazon Web Services, Inc.
Apple Inc.
AT&T Inc.
Fulcrum Biometrics, LLC
Google Inc.
LumenVox, LLC
Microsoft Corp.
Ozonetel Communications Pvt Ltd.
Raytheon Co.
Selvas AI Inc.
Sensory Inc.
Sonix, Inc.

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