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Affective Computing Market - Overview

Due to increasing use of smart phones and connected devices, consumer centric businesses are finding new ways to stay ahead in competition by using computing technology. The application of focus group and survey do not provide accurate emotional state of an end-user related to a specific product. Further, their responses may be biased depending upon the surrounding conditions. The emotional state of a consumer can trigger his/her engagement with the brand or product and affect the decision making to buy the product. Therefore, knowing the real-time emotional state can help the businesses to sell their product and thereby increase revenue. Affective computing is a technology which helps in recognizing human decision making through analyzing facial expressions, heart rate, voice and other body parameters. 

Affective computing combine’s cognitive science, psychology and computer science to predict the emotional state of human beings and provides appropriate response to get a favorable outcome. This can help businesses and e-commerce sector to enhance the customer shopping experience and thus sell products effectively. It can also be used in online advertising and advertising kiosk to provide favorable advertisement depending upon the end-user’s emotional state. Affecting computing includes use of emotion analytics engine, machine intelligence, big data and sensors such as camera, head up display to collect and analyze the customer emotion. It also includes software for speech and facial recognition, gesture recognition and neural analytics. Apart from these segments, affective computing also includes device or software that exhibit emotional capabilities, according to the requirement of human being. Affective computing can be applied through wearable system, human machine interface, surveillance system and robotic system. This technology finds its application mainly in autonomous or e-learning system where presentation style of an affective computerized tutor can be changed depending upon the learner’s response. Affective computing is expected to find its application mainly in artificial intelligence as it can help in strengthening machine – human relationship. It can be used as an additional tool in counseling or physiological services which help in determining patient’s metal state.

Affective Computing Market - Key Drivers 

The demand for affective computing is expected to increase in coming years due to increasing adoption of wearable devices and internet. Further, there is a strong need for businesses to understand the need of their customer behavior which is expected to drive the affective computing market. Many businesses are collaborating with affective computing providers to boost research and development activities in this area. However, business has to analyze the impact of deploying these systems before inducting in the affective computing market. This can pose a challenge for affective computing providers as the application of affective computing differs from business to business and also dependson the product or service.The processing speed of affective computing to record and analyze a human being response in real-time can contribute to the faster adoption of this technology in coming years. Hence, the use of advance computing processers, neural networks and sensors is expected to increase in affective computing. 

Affective Computing Market - Key Players

Some of the affective computing providers are Affectiva Inc., Elliptic Laboratories AS, Cognitec Systems GmbH, IBM Corp.,Microsoft Corp.,Eyesight Technologies, Ltd., Intel Corporation, Apple Inc., Saffron Technology, Inc. and Emotient, Inc.

This research report analyzes this affective computing market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include 

  • North America 
  • Asia Pacific 
  • Europe
  • Middle East and Africa
  • Latin America

This report provides comprehensive analysis of 

  • Market growth drivers 
  • Factors limiting market growth
  • Current market trends 
  • Market structure
  • Market projections for upcoming years 

This report is a complete study of current trends in the affective computing market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis. 

Reasons for Buying this Report

  • This report provides pin-point analysis for changing competitive dynamics
  • It provides a forward looking perspective on different factors driving or restraining market growth 
  • It provides a six-year forecast assessed on the basis of how the market is predicted to grow 
  • It helps in understanding the key product segments and their future
  • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
  • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments 
  • It provides distinctive graphics and exemplified SWOT analysis of major market segments 

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Affective Computing Market

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