Human beings seem to be able to recognize emotions from speech very well and information communication technology aims to implement machines and agents that can do the same. However, to be able to automatically recognize affective states from speech signals, it is necessary to solve two main technological problems. The former concerns the identification of effective and efficient processing algorithms capable of capturing emotional acoustic features from speech sentences. The latter focuses on finding computational models able to classify, with an approximation as good as human listeners, a given set of emotional states. This paper will survey these topics and provide some insights for a holistic approach to the automatic analysis, recognition and synthesis of affective states.