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Global Emotion Detection And Recognition Market 2024 Opportunity Assessment, Production Analysis, Segmentation And Forecast To 2033
Emotion Detection And Recognition Market
The Business Research Company offers in-depth market insights through Emotion Detection And Recognition Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The emotion detection and recognition market size has grown rapidly in recent years. It will grow from $24.54 billion in 2023 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.
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Market Segmentation:
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
Major Driver - Emotion Detection And Recognition Market Set To Soar With The Rising Adoption Of Wearable Devices And IoT Applications
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.
Competitive Landscape:
Major companies operating in the emotion detection and recognition market report are Apple Inc., IBM Corporation, Emotional AI, Emteq Limited, NVISO SA, Tobii AB, Cogito Corporation, Q3 technologies Inc., Paravision Inc., Noldus Information Technology BV, Entropik Technologies Pvt. Ltd., Xpression Technologies Pte. Ltd., Cognitec Systems GmbH, Realeyes OU, B-Yond, Affectiva lnc., Beyond Verbal Communications Ltd., iMotions A/S, Ayonix Corporation, CrowdEmotion Ltd., Sentiance NV, Sightcorp BV, SkyBiometry, Nemesysco Ltd., Sension Technologies Inc., Vokaturi BVBA, Emotion AI Limited, Kairos AR Inc., Emotion Research Lab S.L, Eyeris Technologies Inc., EmoGraphy Private Limited, Emotion Technology Ltd.
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Top Trend - Advanced Biometrics-Based Solutions Elevate Behavioral Monitoring
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 Table Of Content For The Market Report Include:
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. Emotion Detection And Recognition Market Size And Growth
…..
27. Emotion Detection And Recognition Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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