Emotion Detection and Recognition Market Opportunity By Evolving Industry Analysis & Forecast To 2025 market

The global emotion detection and recognition market is continuously evolving, especially in the form of wearable technology. Wearable biosensors are gaining traction in the military, healthcare, and sports sectors. Similarly, the real-time facial-analysis-based applications to improve car safety and to identify the driver’s state of mind are being widely used in the automotive industry. Furthermore, the banking industry is continuously implementing the emotion detection solutions to increase the customer loyalty. Various software solutions such as test analysis software, voice analysis software, and image analysis software are used to analyze emotion-related data and to determine the emotions, creating value for the banks in understanding the customer.

Misrepresentation in the analysis of emotions can pose a challenge to the global emotion detection and recognition market. Moreover, organizations find it difficult to optimally utilize this technology due to the lack of expertise and operational challenges.

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The global emotion detection and recognition market is gaining popularity, which is attributable to the rising demand for sentiment mapping, usage of bio-sensing software tools, growing cognitive services, and increasing applications in numerous industry sectors such as transportation, healthcare, banking, and government institutions. Currently, the increasing rate of cybercrime and illegal trespassing is driving the usage of biometric authentication and emotion detection systems. This software is used for security purposes in many industry verticals as it is capable of recognizing faces in the real-time, searching & matching faces from the database, and detecting moods and other features.

The North America region holds a significant share of the emotion detection and recognition market due to the presence of a well-established economy, advanced IT infrastructure in the U.S., and a high focus on innovation and technology by the market players. The market is expected to show high growth due to the huge investments in security and surveillance solutions. In the rapidly-growing economies of the Asia Pacific region, the increasing demand for advanced security solutions, the evolution of IoT, and the increasing trend of wearable devices will boost the market growth during the forecast period.

The major players in the global emotion detection and recognition market are Affectiva, Beyond Verbal, Eyeris, Sentiance, Skybiometry, Tobii AB, Noldus, Sightcorp, Realeyes, Kairos, Crowdemotion Limited, Apple, Nviso, and Emovu. Some of these companies are expanding their presence in the global market by developing innovative solutions for their customers.

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Methodology used in this report: -

Our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the emotion detection and recognition market. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
• Definition and scope of research
• Emotion detection and recognition market dynamics, growth drivers and industry pitfalls
• Regulatory and political guidelines for the industry
• Demographics and statistical data
All the above factors are identified and analyzed in detail, with their present and expected market impact, which is quantified and used to derive emotion detection and recognition market growth expectation. Market forecast is built using statistical analysis with models built around time-variance, regression and correlation analytics.
Significant emphasis is put on primary research, which serves the dual role or not only validating our findings but also obtaining penetrating market insights, which help us gain more clarity regarding business environment and competitive leverage. Notable participants in our primary research process include:
• Leadership figures such as CEOs, CSOs, VPs etc. in key companies
• Supply-chain participants, distributors and domain experts
• Key customers and B2B clients

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