Affective Computing Market Current and Future Trends, Leading Players, Industry Segmentation from 2023 to 2033

 The affective computing market is forecasted to expand at 33.6% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 71,282.9 million in 2023 and US$ 12, 94,617.60 million by 2033.

Wide use of affective computing solutions and technologies in the automotive sector is fueling the market growth. A large proportion of market competitors provide at least one service or are well geared toward automobile applications. In the automobile industry, affective computing is recurrently being used to develop Advanced Driver-assistance Systems (ADAS).

A considerable increase in the adoption of emerging technologies in the automotive sector is expected to create ample opportunities for the providers of affective computing solutions.

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The surge in the demand for advanced electronic devices like power banks, portable chargers, mobile phones, etc., and continuous requirements for technical advancements, are fueling the demand outlook for affective computing. From the records, the number of mobile devices was around to be 15 billion in 2021.

Heightened demand for virtual assistants that are capable of identifying fraudulent activities, along with increasing requirements for better security in varied sectors is fueling the market growth.

The market is being positively impacted by the development of robots with computational data, making it emotional and informative. It is projected to warrant flexibility in certain or complex situations. This is expected to dictate the upcoming trend in the forecast period.

Industries are yet at a nascent stage concerning the detection of customers’ emotions. Affective computing lets the computational device decode the non-verbal and emotional cues of users. The technology reacts in real time to movements, physiology, gestures, and other behaviors. This is projected to propel the scope of affective computing.

The accelerating demand for affective computing in sectors related to security applications like voice-activated biometrics to restrict access for authorized users is further expected to propel market growth.

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