Emotion Detection And Recognition (EDR) Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)

The emotion detection and recognition market was valued at USD 17.37 billion in 2019 and is expected to reach a value of USD 128.76 billion by 2025, at a CAGR of 40.46% over the forecast period, (2020 - 2025). Understanding emotions holds significance during the interaction process between humans and machine communication systems. EDR not only improves human and computer interfaces, but also enhances the feedback mechanism actions taken by computers from the users.

- Though Artificial Intelligence (AI) is expected to unleash the next wave of digital disruption, the limitation of AI to understand human emotion still remains a challenge. However in the past few years, increased access to data, low-cost computing power and evolving NLP combined with digital learning is enabling the systems to analyze human emotions.
- Key influencers of the market are rising need for better customer experience, as emotional connection also plays a key role along with customer satisfaction; the rising need for a human touch in digital communications (Chatbots) and challenges in language context and facial recognition.
- The key areas where emotion detection and recognition are expected to gain traction include entertainment (majorly gaming), transportation (autonomous cars), healthcare (various kinds of diagnostics) and retail (to enhance customer experience).

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Market competition by Top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the Top players including-

Affectiva Inc., Emotient Inc. (Apple Inc.), Tobii AB, Noldus, Sight Corp., Realeyes OU, Kairos

Market segment by Regions/Countries, this report covers
North America (U.S., Canada, Mexico)
Global (Germany, UK, France, Rest of Global)
Asia Pacific (China, India, Japan, Rest of Asia Pacific)
Latin America (Brazil, Argentina, Rest of Latin America) 
Middle East & Africa

Key Market Trends

Growing Adoption of Wearable Devices to Drive the EDR Market

- Growing adoption of wearable devices, which includes smartwatches, fitness bands, smart glasses, and smart textiles, will enable the growth of the EDR market.
- According to the Consumer Technology Association, the sales of smart wearables in the U.S reached 49.3 million units in 2018 and earned USD 6.4 billion.
- High investments in the industry and large industry collaborations are resulting in innovations in wearable technology.
- These wearable devices are equipped with biological sensors to monitor heartbeat and temperature, along with other components, such as microphones and cameras to capture human emotions, such as gestures, body postures, tone of voice, and facial expressions.
- Wearable devices continuously collect data from these sources and analyze the data to monitor the health and other aspects of the user. Thus, the growing number of wearable devices is expected to drive the growth of the market over the coming years.
- According to Cisco, the connected wearable device was 325 million in 2016 and expected to reach 1105 million in 2022. This is due to the growing awareness among the people regarding smart devices and technology like IoT that are boosting the market.

North America to Dominate the EDR Market

- North America has the largest share in the market. High investments and growing support from several end-user verticals to provide better services and security are driving the growth of the market in this region.
- The governments in this region are hosting several R&D activities in the field of EDR. The Feature Extraction and 3D modeling techniques are being used in the North America region and the bio-sensors technology is expected to attain a better growth rate by 2022.
- High investment and growing support from several end-user verticals to provide better services and security are driving the growth of the market in this region.

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Competitive Landscape

- April 2019 - Affectiva announced the close of a USD 26 million funding round to advance its emotion and object detection AI for monitoring vehicle passengers. The funding round was led by automotive supplier Aptiv. Affectiva wants its solution to be incorporated into cameras used in car safety systems to recognize when a driver is happy, sad, drowsy, or frustrated.
- March 2019 - Tobii unveiled New Eye Tracking Tools and Resources for VR, AR, and PC Development. The new developer guides and tools ease eye tracking integration in a variety of important ways, from providing new libraries and APIs for intuitive object mapping and selection to delivering example code and implementation tutorials.

Major points covered in this research are:-

─Emotion Detection And  Recognition (EDR) Market Overview, Segment by Type (Product Category), by Application, by Region (2020-2025), Competition by Manufacturers

─Global Market Size (Value) of Emotion Detection And  Recognition (EDR) (2020-2025)

─Global Emotion Detection And  Recognition (EDR) Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2020-2025)

─Global Emotion Detection And  Recognition (EDR) Production, Revenue (Value), Price Trend by Type

─Global Emotion Detection And  Recognition (EDR) Market Analysis by Application

─Global Emotion Detection And  Recognition (EDR) Manufacturers Profiles/Analysis

─Emotion Detection And  Recognition (EDR) Manufacturing Cost Analysis

─Industrial Chain, Sourcing Strategy and Downstream Buyers

─Marketing Strategy Analysis, Distributors/Traders

─Market Effect Factors Analysis

─Global Emotion Detection And  Recognition (EDR) Market Forecast (2020-2025)

─Competitive Landscape

─Research Findings and Conclusion

Finally, this Emotion Detection And  Recognition (EDR) report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent Emotion Detection And  Recognition (EDR) product development and gives an outline of the potential Global market.

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This release was published on openPR.