Kenneth Research, in its repository of market research reports, have recently added a report on Affective Computing Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Affective Computing Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Affective Computing Market products.
Request Free Sample Copy :- https://www.kennethresearch.com/sample-request-10233496
Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Affective computing is projected to find its application in area such as artificial intelligence where it can help in strengthening machine-human relationship. The demand for affective computing is expected to increase in forecasted period due to increasing adoption of wearable devices and internet.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Factors that are driving the market are: Continuous research and development in body gesture, facial expression and blood pressure etc. Increasing tech savvy population and adoption of wearable devices and internet, arrival of large corporations in the market and the good processing speed of affective computing to record and analyse a human being response in real time are expected to result in the faster adoption of this technology in projected period. There are lot more factors driving the market such as applications in wide no of sectors such as government, healthcare etc.
Due to the increase in the use of internet also the use and demand of affective computing market is increasing people have started using it in to day to day life such as in hands free computing, distance education, internet banking etc. application of affective computing is also widely spread across fields such as security sector, medical sector, neurology, psychiatry, Dialog/automatic call centre environment and robotics. Although several factors such as the application of affective computing differs from business to business and also depends on the product or service, Privacy concerns; devices can recognize interpret, process, and simulate human, Privacy concerns; devices can recognize interpret, process and simulate human are restraining factors for the growth of the market.
Download Sample of This Strategic Report: https://www.kennethresearch.com/sample-request-10233496
The market of affective computing is segmented by industrial sector, industrial application, and technological application and by application area. Geographically the market is segmented into North America (US, Canada), Europe (UK, Italy, Spain, France, Germany, RoE), Asia-Pacific (India, Japan, Australia, China, Korea, RoAPAC) and Rest of World (Latin America, MENA and Africa). The key providers of affective computing in the market include: Intel Corporation, Gestsure, Apple Inc, Qualcomm Inc, Microsoft Corporation, Texas Advanced Computing Center (TACC),Tacc (The Affective Computing Company) and IBM.
1 Tacc (The Affective Computing Company)
2 Intel Corporation
4 Apple, Inc.
6 Texas Advanced Computing Center (TACC)
8 Saffron Technology
10 Pyreos Limited
16 Eyesight Technologies
18 Elliptic labs
19 Congnivue corporation
20 Cognitec systems
Request for Complete Report:
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
Email : Sales@kennethresearch.com
Phone: +1 313 462 0609