Affective computing aspires to reduce the distance between human emotions and machines by developing computational systems that recognize, response, and express emotions. Computer scientists and major players in the market are inclined toward putting more efforts on affective computing to develop a highly intelligent computing system, which enriches the proactive and intelligent humanmachine interaction.
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Increase in adoption of connected devices across various end-user verticals and continuous advancement in enabling technologies are anticipated to drive the market growth during the forecast period. However, lack of standardization and high production cost are estimated to hamper the market growth.
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The affective computing market is segmented on the basis of type, vertical, and region. Based on type, it is categorized into hardware and software segments.
The software segment is divided into analytics software, enterprise software, facial feature extraction, gesture recognition, and speech recognition. Based on vertical, it is classified into retail sector, transportation & logistics, IT & telecom, healthcare sector, public sector, banking, financial, services and insurance (BFSI), and others (manufacturing, energy, and utility).
The market is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
Key market players (offering affective computing technologies and services) adopted product launch, partnership, geographical expansion, and acquisition as their key strategies to facilitate their business growth and expansion globally. The key players profiled in the market are Apple, Inc., Beyond Verbal Communication Ltd., Cognitec Systems GmbH, Elliptic Labs, Eyesight Technologies, Ltd., Gesturetek, Google Inc., IBM Corporation, Microsoft Corporation, and Qualcomm Inc.
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