The Emotion Detection And Recognition 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 (2024-2033).
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According to The Business Research Company’s Emotion Detection And Recognition Global Market Report 2024, The emotion detection and recognition market size has grown rapidly in recent years. It will grow from $24.54 billion in 2024 to $28.25 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to increasing integration in consumer electronics, rising demand for enhanced customer experience, growing awareness in healthcare.
The emotion detection and recognition market size is expected to see rapid growth in the next few years. It will grow to $49.92 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to rise of remote and virtual interactions, focus on mental health applications, application in education, expanding use in automotive industry, privacy-preserving solutions. Major trends in the forecast period include integration with artificial intelligence (AI) and machine learning (ML), advancements in facial recognition technology, integration with wearable technology, advancements in facial recognition algorithms, application in human-computer interaction.
The increasing IoT applications and adoption of wearable devices are expected to propel the growth of the emotion detection and recognition (EDR) market. The IoT applications and adoption of wearable devices are increasing due to various reasons such as a shift towards digital processes, productivity with reduced cost and efficiency, collection of accurate data, analysis, and others. This rising adoption of IoT and wearable devices will result in the use of emotion detection and recognition as EDR can be integrated into IoT applications and wearable devices to capture physiological, and behavioral data and responses to analyze and create automated responses based on emotion. This will help derive better decisions and improve the performance and functionalities of a business or product. For instance, according to the IoT statistics published in May 2022 by an independent review site DataProt, the number of active IoT devices is expected to surpass 25.4 billion by 2030. By 2025, 152,200 IoT devices will connect to the internet every minute. By 2025, Internet of Things solutions will have the potential to generate $4-11 trillion in economic value. IoT technology has improved the efficiency of 83% of organizations. These statistics indicate that the IoT applications are increasing globally. Thus, the increasing IoT applications and adoption of wearable devices will drive the emotion detection and recognition (EDR) market growth.
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The emotion detection and recognition market covered in this report is segmented –
1) By Software Tool: Facial Expression And Emotion Recognition, Gesture And Posture Recognition, Voice Recognition
2) By Technology: Pattern Recognition Network, Machine Learning, Natural Language Processing, Other Technologies
3) By End-User: Commercial, Entertainment, Retail, Other End Users
Top 5 Major Players:
Major companies operating in the emotion detection and recognition (EDR) market are focused on product innovations such as face biometrics-based emotion recognition solutions to monitor behavioral metrics in an individual by intuitively detecting the direction of the gaze and head orientation. Facial biometrics-based emotion recognition solutions utilize AI to analyze facial expressions and micro-expressions to determine a person’s emotional state. For instance, in January 2021, Herta Security, a Spain-based facial recognition solutions provider company, launched a new video analysis solution called BioObserver, which provides a platform for automatic micro-expression detection based on face biometrics. The AI-based BioObserver can analyze seven basic facial emotions as well as 18 micro-expressions, such as ‘frowning,’ ‘blinking,’ or ‘raising eyebrows. BioObserver is offered via cloud-based software, enabling customers to rapidly process videos in a short amount of time.
The emotion detection and recognition market report table of contents includes:
1. Executive Summary
2. Emotion Detection And Recognition Market Characteristics
3. Emotion Detection And Recognition Market Trends And Strategies
4. Emotion Detection And Recognition Market – Macro Economic Scenario
5. Global Emotion Detection And Recognition Market Size and Growth
…….
32. Global Emotion Detection And Recognition Market Competitive Benchmarking
33. Global Emotion Detection And Recognition Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Emotion Detection And Recognition Market
35. Emotion Detection And Recognition Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Emotion Detection And Recognition Market, Segmentation By Software Tool, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Emotion Detection And Recognition Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Emotion Detection And Recognition Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: Apple Inc. Financial Performance
Table 75: IBM Corporation Financial Performance
Table 76: Emotional AI Financial Performance
Table 77: Emteq Limited Financial Performance
Table 78: NVISO SA Financial Performance
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