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Emotion Detection and Recognition Market

Emotion Detection and Recognition Market Analysis - By Software and Services, End-user Vertical and Geography - Growth, Trends and Forecasts (2018 - 2023)

  • ID : 6586409  |  
  • Published : Feb-2018  |  
  • Region : Global  |  
  • Pages : 110   |  
  • Publisher : Mordor Intelligence

Emotion Detection and Recognition Market Size and Growth Rate:

The global emotion detection & recognition market is estimated to witness a CAGR of 32.7% over the forecast period (2018 - 2023), driving the market to reach 24.74 billion by 2020. Understanding emotion holds significance during the interaction process between humans and machine communication systems. EDR not only improves human and computer interfaces, but also enhances the feedback mechanism actions taken by computers from the users.

The increasing demand for wearable devices and increasing penetration of the Internet of Things (IoT) are the major determinants of the growth of the global EDR solutions market. Countries, such as China, India, Japan, and South Korea, which have a massive population, are putting extra efforts to implement EDR technology to meet the growing expectations.

Growing Adoption of Wearable Devices

Growing adoption of wearable devices, which include smartwatches, fitness bands, smart glasses, and smart textiles, will enable the growth of the EDR market over the forecast period. The usage of these devices has witnessed a high growth rate in the past few years. According to Consumer Technology Association, the global shipments of smartwatches have almost doubled from 38 million in 2016 to 75 million in 2017. High investments in the industry and large industry collaborations are resulting in innovations in wearable technology.

These wearable devices are equipped with biological sensors to monitor heartbeat and temperature, along with other components, such as microphones and cameras to capture human emotions, such as gestures, body postures, the tone of voice, and facial expressions. Wearable devices continuously collect data from these sources and analyze the data to monitor health and other aspects of the user. Thus, the growing number of wearable devices is expected to drive the growth of the market over the coming years.

Government Sector is Expected to Dominate the Market Landscape

The major application of EDR in government sector includes security & surveillance, authentication, and law enforcement. Governments around the world are inclined toward advanced authentic solutions to diminish wrongdoings and improve regulations. Various governments across the world are allocating a significant share of their budgets for tools that improve situational awareness of their army personnel. These tools help them analyze data accrued daily, which, in turn, is used to monitor stress and emotional intelligence of soldiers in critical situations. For instance, in Japan, software for evaluating stress using speech emotion recognition technology was developed to help militaries and civilian citizens dealing with Post Traumatic Stress Disorder (PTSD). This system will be used to investigate emotion (mental stress) by natural speaking voice. Thus, the development of this software is boosting the growth of EDR in this sector.

North America Emotion Detection and Recognition Market to Dominate the Worldwide Market 

North America has the highest share in the market. High investments and growing support from several end-user verticals to provide better services and security are driving the growth of the market in this region. The governments in this region are hosting several R&D activities in the field of EDR. The Feature Extraction and 3D modeling technology is being used in the North America region and the bio-sensors technology is expected to attain a better growth rate by 2023.

Key Developments in the Market

  • January 2017 - Voxpopme partnered with Affectiva to enhance emotion recognition software. Affectiva's Emotion AI will be integrated into the Voxpopme platform to enable meticulous analysis of facial expressions within video feedback, instantly coding it into powerful emotion data.
  • January 2017 - Eyeris Emotional AI and Face Analytics Technology gained momentum for commercialization in the automotive and social robot markets.
  • November 2016 - Ubisoft collaborated with Tobii to provide new eye-tracking features for the PC versions of WATCH_DOGS 2 and Steep.
  • November 2016 - Noldus launched an improved method for tracking lab animal behavior that yields better data.
  • May 2016 - nViso launched artificial intelligence-powered financial tool - EmotionAdvisor, which provides benefits to investors, financial advisors and banks to facilitate decision-making.

Dominating Companies Leading the Global Emotion Detection and Recognition Market are:

  1. AFFECTIVA INC.
  2. EMOTIENT INC. (APPLE, INC.)
  3. TOBII AB (PUBL)
  4. NOLDUS
  5. SIGHTCORP
  6. REALEYES OU
  7. NVISO SARL
  8. KAIROS, EMOVU (EYERIS)
  9. CROWDEMOTION LIMITED

Reasons to Purchase this Report

  • Analysis of how the adoption of emotion detection & recognition is expected to change the dynamics in advertisements.

  • Analysis of various perspectives of the market with the help of Porter’s five forces analysis.

  • The software segment is expected to dominate the market.
  • The regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares, and strategies employed by the major market players.
  • 3 months analyst support, along with the Market Estimate sheet (in excel)

Customization of the Report

  • This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.

Table of Contents:

1. Introduction

1.1 Key Deliverables of the Study

1.2 Study Assumptions

1.3 Market Definition

1.4 Key Findings of the Study

2. Research Approach and Methodology

3. Executive Summary

4. Market Dynamics

4.1 Market Overview

4.2 Industry Attractiveness - Porter's Five Forces Analysis

4.2.1 Bargaining Power of Suppliers

4.2.2 Bargaining Power of Consumers

4.2.3 Threat of New Entrants

4.2.4 Threat of Substitute Products or Services

4.2.5 Competitive Rivalry among Existing Competitors

4.3 Factors Driving the Market

4.3.1 Growing Internet of Things (IoT) Applications

4.3.2 Need for Advanced Marketing Tools

4.3.3 Growing Adoption of Wearable Devices

4.4 Factors Restraining the Market

4.4.1 Privacy Concerns Relating to the Deployment of this Technology

4.4.2 Need for Specialized Hardware

5. Technology Snapshot

5.1 Machine Learning

5.2 Pattern Recognition

5.3 Bio Sensors Technology

5.4 3D Modelling

5.5 Natural Language Processing

6. Global Emotion Detection & Recognition Market Segmentation

6.1 By Software & Services

6.1.1 Software

6.1.1.1 Facial Recognition

6.1.1.2 Speech & Voice Recognition

6.1.1.3 Bio Sensing

6.1.2 Services

6.2 By End-user Vertical

6.2.1 Government

6.2.2 Healthcare

6.2.3 Retail

6.2.4 Entertainment

6.2.5 Transportation

6.2.6 Others

6.3 By Geography

6.3.1 North America

6.3.2 Europe

6.3.3 Asia-Pacific

6.3.4 Rest of the World

7. Competitive Intelligence - Company Profiles

7.1 Affectiva, Inc.

7.2 Noldus

7.3 Sight Corp.

7.4 Realeyes OU

7.5 Nviso SARL

7.6 Kairos

7.7 Emovu (Eyeris)

7.8 Emotient, Inc. (Apple, inc.)

7.9 Tobii AB (publ)

8 Investment Analysis

9 Future of the Global Emotion Detection & Recognition Market

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