Affective Computing Market trends Scenario:
The crippling effect of the global COVID-19 pandemic has detained the growth potential of the Affective Computing Market trends. This MRFR report on the Affective Computing Market trends indicates critical pointers that may emerge as growth hubs in the future. Moreover, in-depth data analysis is estimated to offer a clearer growth perspective to market participants.
Market Research Future (MRFR) in its Affective Computing Market trends 2020 report reveals the impact of COVID pandemic on the regional Affective Computing Market trends size. The expansion of the affective computing industry can be credited to the presence and increase in new entrants dealing in affective computing technology. The rise in investment to develop highly intelligent systems to introduced highly effective human-machine interaction can bolster the expansion of the Affective Computing Market trends value across the assessment period.
The impact of affective computing on industrial applications, such as customer relationship management (CRM), consumer electronics, virtual reality, security, healthcare, and robotics can boost the expansion of the global market in the near future. The high application of connected devices in different industries and constant improvement in affective computing technology can impel the expansion of the market. The inadequacy of standards and high production expenses can deter the market growth pace.
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Competitive Outlook:
MRFR listed some notable players operating in the Affective Computing Market trends. They are; Microsoft Corporation (U.S.), Softkinetic Systems (Belgium), Saffron Technologies Inc. (U.S.), IBM Corporation (U.S.), Numenta (U.S.), Qualcomm Inc. (U.S.), Pyreos Limited (Scotland), Google LLC (U.S.), Eyesight Technologies Ltd. (Israel), SiteCorp. (The Netherlands), Elliptic Labs A/S (Norway), Vokaturi (The Netherlands), Gesturetek(U.S.), Dream Face Technologies (U.S.), SRI International (U.S.), Palantir Technologies(U.S.), Emotional Recognition(U.K), Affectiva (U.S.), CrowdEmotion(U.K), Feel Wristband (Sentio Solutions)(U.S.), among others
Segmentation:
- The segment study of the Affective Computing Market trends is based on technology, organization size, type, vertical, and deployment.
- The type based, Affective Computing Market trends segments are hardware and software. The software segment comprises of enterprise software, speech recognition, analytics software, gesture recognition, and facial feature extraction among others.
- The vertical-based segments of the Affective Computing Market trends are transportation & logistics, IT &Telecom, retail, BSFI, public sector, and others.
- The deployment based, the Affective Computing Market trends segments are on-premise and cloud.
- The organization size- based segments of the Affective Computing Market trends are large enterprises and small & medium scale enterprise (SME’s).
- The technology based segments of the Affective Computing Market trends are touchless and touch-based.
Regional Analysis:
The Affective Computing Market trends in the North America region is expected to attain a large share of the world market share throughout the review period. The presence of numerous enterprises that are deploying affective computing technologies, with modern technologies can promote the expansion the Affective Computing Market trends in the region, reveals MRFR study.
In Europe, the rise of the Affective Computing Market trends can be attributed to the increase in its demand, along with cost cutting benefits, availability of import or export scheme, boost in manufacturing volume, and significant contribution to affective computing in the GDP of EU can boost the expansion of the regional market. The UK can lead the regional market, followed by the rest of EU. The rise in cases of COVID positive in EU can impact the Affective Computing Market trends dynamic of the region. A temporary halt in research and development activities associated with multimodal recognition can impede the Affective Computing Market trends growth in the region.
In Asia Pacific, the high growth potential of the Affective Computing Market trends can gain considerable revenue for the market across the forecast period. The expansion of the Affective Computing Market trends in the APAC region can be driven by improvement in technological implementations and increased investments in smart cities. In India, South Korea, Australia, and other regions of Asia Pacific the growing popularity of Affective Computing Market trends is observed as a key driver for the market to rise as robotic culture and digital call centers are gaining prominence.
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