Press release
Growth of IOT industry dominating Emotion Detection and Recognition Market
Surge in popularity of wearable technology, growth of Internet of Things, and increase in adoption of smartphones drive the global emotion recognition and detection market. However, high cost of application, varied functional requirements, and misinterpretation in analysis of emotions restrict this growth.
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The global emotion detection and recognition market was valued at $5.8 billion in 2016, and is projected to reach at $33.9 billion by 2023, growing at a CAGR of 28.9% from 2017 to 2023. North America dominates this market presently, followed by Europe. In 2016, China dominated the Asia-Pacific market; similarly, the UK led the overall market in the European region.
Top Impacting Factors:
• Growth of IoT
• Increase in Popularity of Wearable Technology
• Rise in Usage of Smartphones
• High Cost of Application and Functional Requirement
Major Applications:
• Law enforcement, Surveillance, & Monitoring
• Entertainment & Consumer Electronics
• Marketing & Advertising
• Others (e-Learning and Video Games)
Market by Technology:
• Pattern Recognition Network
• Machine Learning
• Natural Language Processing
• Others (Bio-sensors Technology)
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Leading Players:
Significant players operating in the emotion detection and recognition industry are Affectiva, Beyond Verbal, Noldus Information Technology, Sentiance, Sightcorp, Realeyes, CrowdEmotion, Kairos AR, Inc., nViso SA., and SkyBiometry.
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