The emotion analytics market is growing rapidly across the globe. The market growth
attributes to the increasing adoption of facial biometrics in government and banking &
financial sectors for ID cards, passport, driving license, health insurance card, and social
security cards. Besides, the growing demand for artificial intelligence and big data
analytics drives the emotion analytics market excellently. Moreover, the increasing
adoption of emotion analytics (EA) across end-user industries escalates market demand.
Market Research Future (MRFR), in its latest report on the COVID 19 emotional analytics
market, asserts that the market valuation is expected to reach approximately USD 25 BN
by 2023, growing at 17% CAGR throughout the forecast period (2017-2023). With
advanced emotion analytics, organizations can capitalize on existing surveillance
infrastructures, access control, and time & attendance applications.
The increasing uptake of emotional analytics in border security control, crime-fraud
prevention & detection, and payment systems boost market growth. Emotion analytics
can express the emotional significance in written communication with the intent of
analyzing each author's emotional probability toward an action. Besides, Emotions
analysis combined with data visualization approach further enhances the granularity at
which brands can analyze customer behavior and trends.
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Emotion Analytics Market – Segmentation
The report is segmented into five dynamics;
- By Type : Facial Analytics, Speech Analytics, Video Analytics, and others.
- By Technologies : Artificial Intelligence, Biometrics & Neuroscience, 3D Modeling, Pattern
Recognition, Records Management, and others. - By Solution : Mobile & Web Application, Cloud, and others.
- By End-Users : Enterprises, Defense & Security Agencies, Commercial, Industrial, and
others. - By Regions : Asia Pacific, Americas, Europe, and the Rest-of-the-World.
Global Emotion Analytics Market – Regional Analysis
North America dominates the global emotion analytics market. The largest market share
attributes to the increasing adoption of cloud-based face recognition software in
organizations. Besides, large technological advancements and increasing uptake of
emotion analytics by law enforcement agencies and various other sectors drive the
regional market growth.
Moreover, the early adoption of the latest identification and recognition technologies
increase the COVID 19 emotion analytics (EA) market. The North American emotion
analytics market is projected to retain its dominance throughout the estimated period.
Europe stands second in the global emotion analytics market. The market growth is driven
by well-established technology development sectors and the augmenting demand for regulatory support in the region. Additionally, the resurging economy in the region acts as a significant factor substantiating the growth of the market.
Also, increased funding to mitigate security management concerns provides an impetus to
the market growth in the region. The European emotion analytics market is expected to
witness rapid growth in the years to come.
The emotion analytics market in the Asia Pacific region is growing briskly. Factors driving
the regional market growth include substantial advances in related technologies and the
availability of cost-competitive yet futuristic identification technologies. Besides, the
dynamic growth in industries such as web, telecom, data centers, and the internet of
things (IoT) boosts the growth of the regional market.
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Global Emotion Analytics Market – Competitive Analysis
Highly competitive, the emotion analytics market appears fragmented due to the
presence of several well-established players. To gain a larger competitive share, industry
players adopt approaches such as mergers & acquisitions, brand reinforcement, and
innovation.
Players make sizable investments in research and development of innovative technologies
and upgrade their portfolios with cost-effective solutions. Mergers & acquisitions have
been a key strategy for the key players to strengthen their global footprint, increasing
their customers' reach. The market competition is predicted to intensify further due to
rising innovations and M&A.
Major players:
Players leading the EA market include International Business Machines Corporation (US),
Microsoft Corporation (US), Apple, Inc. (US,), Neuromore Inc. (US), Retinad Virtual Reality
Inc. (Canada), Imotions A/S (Denmark), Beyond Verbal (Israel), Kairos AR, Inc. (US),
Affectiva (US), Adoreboard (UK), Eyris (EmoVu) (US), sensation.io (Germany), RealComm
Global LLC (US), iMotions (US), and Lightspeed LLC (US), among others.
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