Emotion Detection and Recognition Market Size to Generate $136.2 Bn by 2031 | Growing at a CAGR of 20.5%- Affectiva, Sightcorp, IBM Corporation

The emotion detection and recognition industry size was valued at $21.66 billion in 2021, and is estimated to reach $136.2 billion by 2031, growing at a CAGR of 20.5% from 2022 to 2031.

The gesture & posture recognition segment is expected to experience the fastest growth in the coming years, as it facilitates providing accurate, good, and simple recognition of human postures and gestures with the help of input devices and sensors makes way for different growth is expected to propel the market growth.

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Emotion detection and recognition involve a three-step process: feature extraction, feature selection, and classification. Feature extraction utilizes sensors to measure representative features of an object, while feature selection identifies fundamental features from a list. Classification categorizes these selected features into various emotion states. Applications range from sign language communication for the disabled to lie detection and monitoring emotional states or stress levels.

The global market for emotion recognition and detection is experiencing significant growth, propelled by factors such as the expansion of Internet of Things technology, the popularity of wearable devices, and increased smartphone usage. Technological advancements further enhance market performance. However, challenges such as high application costs and functional requirements, as well as potential misinterpretation of emotional analysis, hinder market growth.

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The adoption of cloud-based technologies presents lucrative opportunities for market expansion in the forecast period. By leveraging cloud-based solutions, organizations can overcome some of the barriers associated with traditional emotion recognition and detection methods, driving further market growth and innovation.

Region wise, the emotion detection and recognition market was dominated by North America in 2020 and is expected to retain its position during the forecast period, due to their well-established economies, which allow investments in new technologies. Growth in demand to optimize and bring radical change in the areas of marketing and advertisement by using emotion detection and recognition technology creates remarkable potential in North America. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to factor that is increased public awareness and emerging advanced technologies in countries such as Japan, China, India, Australia, and Rest of Asia-Pacific contribute to the growth of the emotion detection and recognition industry.

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With the outbreak of COVID-19, the demand for emotion detection and recognitions decreased with the incorporation of technological capabilities, such as facial recognition, speech and voice recognition, biosensing, machine learning, and pattern recognition. As faces are one of the keyways that we obtain social information about others. They allow people to identify individuals, understand conversational cues, and make judgements about others' mental states. When the COVID-19 pandemic hit the United States, widespread mask-wearing practices were implemented, causing a shift in the way Americans typically interact.

The key players profiled in the emotion detection and recognition market analysis are IBM Corporation., Affectiva, Intel Corporation, Kairos AR, Inc., Noldus Information Technology bv., NVISO SA., Realeyes, Sentiance NV., Sightcorp, and SkyBiometry.

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