The Emotion Detection and Recognition Market is Expected to Foresee Significant Growth. North America to lead the growth!
- Himanshu Patni
- November 20, 2022
- TELECOM & IT
- Emotion Detection and Recognition Market, Emotion Detection and Recognition Market Growth, Emotion Detection and Recognition Market Share, Emotion Detection and Recognition Market Size, Emotion Detection and Recognition Market trends
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The emotion detection and recognition market is promulgating as it helps in the detection of human emotions with the incorporation of technological capabilities, such as facial recognition, speech, and voice recognition, biosensing, machine learning, and pattern recognition. The Emotion Detection and Recognition Market is expected to grow at a CAGR of 15% during the forecast period owing to the huge expansion in the IoT, increased adoption of wearable technologies, and a massive increase in smartphone usage. The market can benefit from the use of cloud-based technologies coupled with other key influencers of the market including the rising need for better customer experience (as emotional connection also plays a key role along with customer satisfaction), the increasing need for a human touch in digital communications (chatbots), and challenges in language context and facial recognition. However, high application costs and functional requirements as well as a misunderstanding in emotional analysis hamper the market growth to some extent.
Based on technology, the market is segmented into Feature Extraction and 3D Modelling, Biosensors, Natural Language Processing (NLP), and others. During the forecast period, the biosensing solution segment is expected to dominate the market since biosensors are a crucial component for emotion detection and recognition. It offers essential information on the emotional conditions of humans. Further, the technology is used heavily for catching the hidden physiological or emotional states of an individual, therefore, overcoming the restraints of the facial or gesture recognition system.
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Based on software tool, the market is segmented into facial expression and emotion recognition, gesture and posture recognition, and voice recognition. The gesture & posture recognition segment is expected to grow at the highest rate during the forecast period, as it offers the ability to communicate naturally with the technology through basic sign language, reduces the use of most prominent hardware devices, and assures good performance with fast and powerful results, reliability, and good feature extraction.
Based on application, the market is bifurcated into market and advertising, law enforcement, surveillance and monitoring, entertainment and consumer electronics, and others. The marketing and advertising segment is expected to dominate the emotion detection recognition solution market, knowing how customers feel has become a key objective in any business. Companies are expected to stay conscious of the customer perspective, as it helps them to advertise accordingly. Deploying emotion detection and recognition technology into the marketing and advertisement of the business is the key to exploring the customer perspective.
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For a better understanding of the market adoption of the Emotion Detection and Recognition industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, and the rest of North America); Europe (U.K, France, Germany, Spain, Italy and Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World. North America is expected to achieve the highest CAGR during the forecast period owing to the presence of key market players in developed countries such as the United States and Canada. Furthermore, strategic investments, partnerships, and significant spending on research and development (R&D) of advanced hardware and software are contributing to the hefty deployments of emotion detection and recognition solutions in the region. The United States is one of the largest retail markets in the world and accounts for a significant portion of the world’s retail, including e-commerce. As retail sales skyrocket, retailers in the region are spending more and more on advertising targeting the right segments. Increased sales allow retailers to spend more on the technology that enables such features.
Emotion Detection and Recognition Market Segmentation
Market Insight, by Technology
- Feature Extraction and 3D Modeling
- Biosensors Technology
- Natural Learning Processing (NLP)
Market Insight, by Software Tool
- Facial Expression and Emotion Recognition
- Gesture and Posture Recognition
- Voice Recognition
Market Insight, by Application Area
- Marketing and Advertising
- Law enforcement, surveillance, and monitoring
- Entertainment and Consumer Electronics
Market Insight, by Region
- North America
- The United States
- Rest of North America
- The United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
- NEC Corporation
- IBM Corporation
- Microsoft Corporation
- Apple Inc.
- Google LLC
- Tobii AB
- Elliptic Laboratories ASA
- Intel Corporation
- Cognitec Systems GmbH