The emotion detection and recognition has seen umpteen developments over the past few years, owing to the technological innovations day-by-day. It enables recognizing a person’s emotional state through both voice and non-voice mediums. The market for emotion detection and recognition has shown positive results, thus leading to deployments across various end-user industries like defense & security agencies, enterprises, commercial, industrial, medical & healthcare, and marketing & advertisement, among others, which are contributing towards the growth of this market across the globe.
Drivers for the Market
The growth of the global emotion detection and recognition market is primarily influenced by the following factors:
- Growing need for the better understanding of customer behavior
- Increasing adoption of wearable technology
- Increasing applications due to advancing technology in various industries
Apart from these, growing adoption of cloud-based technology and growing partnerships among companies in this market have created huge growth opportunities for this market. Moreover, increasing awareness among customers and rapid adoption of this technology is boosting the growth of this market even further. However, the market growth may be affected by certain factors such as lack of any governing bodies and regulations and misinterpretation in analysis of emotion. Moreover, the market players are also likely to face certain challenges like power consumption of wearable computing devices, impact on businesses, and technical challenges ahead.
Market Predictions
The size of the global emotion detection and recognition market that was estimated to be USD 5.66 Billion in 2015 is expected to hit USD 22.65 Billion by 2020, advancing at a CAGR of 31.9% during the projected period. Geographically, North America is expected to dominate the market with highest market share over the forecast period. Whereas Asia-Pacific is likely to witness significant growth, with the emerging economies such as China, Japan, South Korea, and India being the key market for emotion detection and recognition.
Based on technology, natural language processing (NLP) and machine learning take up the majority of the market share.
The major giants involved in the global market for emotion detection and recognition include Affectiva, Beyond Verbal Communication Ltd., Emotient, Emospeech, Eyeris, Kairos AR, Inc., Noldus, Nviso, Realeyes, Sentiance, Sightcorp, and Tobii among others.
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Scope of the Research
The worldwide market for emotion detection and recognition has been analyzed and forecasted on the basis of following segmentation:
- Technology: Feature extraction & 3-D modeling, Bio-sensors technology (including ECG, EEG, EMG, GSR, eye tracking, and wearable), Pattern Recognition, Natural Language Processing (NLP), Machine Learning, Others (including records management technology, big data analytics, and middleware tech)
- Software Tool: Storage & Maintenance, Consulting & Integration
- Application Area: Medical Emergency & Healthcare; Marketing & Advertisement; Law Enforcement, Surveillance, and Monitoring; Entertainment and Consumer Electronics; others (including robotics and e-learning)
- End-User: Enterprises, Defense & Security Agencies, Commercial, Industrial, Others (Personal users)
- Region: North America, Europe, Asia-Pacific, RoW
