The Emotion Analytics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Emotion Analytics Global Market Report 2024, The emotion analytics market size has grown rapidly in recent years. It will grow from $3.58 billion in 2023 to $4.15 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to increased adoption of ai technology, rising demand for personalization, increasing demand for better customer experience, rising requirement for socially intelligent artificial objects, increased use in healthcare:.
The emotion analytics market size is expected to see rapid growth in the next few years. It will grow to $7.46 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to increased integration with iot devices, expansion in human-robot interaction, wider adoption in human resources, growth in edge computing. Major trends in the forecast period include emotionally intelligent chatbots and virtual assistants, emotional ai in remote work and collaboration tools, cross-industry collaboration for standardization, emotionally aware marketing campaigns.
The growing adoption of IoT is expected to propel the growth of the emotion analytics market going forward. The Internet of Things (IoT) refers to a network of interconnected physical devices, vehicles, appliances, and other objects that are embedded with sensors, actuators, software, and network connectivity. Emotion analytics integration with IoT devices can result in more personalized, adaptive, and intuitive experiences across a range of fields, increasing the overall value and efficacy of IoT applications. For instance, in January 2022, data from the GSM Association, a UK-based non-profit industry organization, predicted that there would be a significant increase in global IoT connections from the 15.1 billion connections recorded in 2021 to 23.3 billion by 2025. Therefore, the growing adoption of IoT is driving the growth of the emotion analytics market.
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The emotion analytics market covered in this report is segmented –
1) By Type: Text Analytics, Facial Analytics, Speech Analytics, Video Analytics
2) By Deployment Mode: On-premise, Cloud
3) By Enterprise Size: Large Enterprise, SME’s
4) By Application: Customer Experience Management, Sales and Marketing Management, Competitive Intelligence, Public Safety and Law Enforcement, Workforce Management
5) By End User: Retail, IT and Telecom, BFSI, Government, Defense and Security, Others End User
Major companies operating in the emotion analytics market are developing innovative technologies by using emotion AI attention metric technologies to better serve customers with advanced features. Emotion AI, also known as affective AI or affective computing, is a subset of artificial intelligence that analyses, reacts to, and simulates human emotions. For instance, in September 2023, Affectiva, a US-based software company, unveiled its cloud-based Emotion AI offering, which includes a new attention metric. With the use of Smart Eye’s cutting-edge automotive safety-grade eye tracking technology, this metric offers marketers, advertisers, entertainment companies, and their market researchers a major improvement in the evaluation of viewer attention. This one-of-a-kind, all-inclusive assessment provides unmatched precision and insights by analyzing head position and gaze.
The emotion analytics market report table of contents includes:
1. Executive Summary
2.Emotion Analytics Market Characteristics
3.Emotion Analytics Market Trends And Strategies
4.Emotion Analytics Market analysis
5.Emotion Analytics Market Size And Growth
6.Emotion Analytics Segmentation
7.Emotion Analytics Regional And Country Analysis
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27.Emotion Analytics Competitive Landscape And Company Profiles
28.Emotion Analytics Key Mergers And Acquisitions
29.Emotion Analytics Future Outlook and Potential Analysis
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