Emotion Analytics Market Analysis, Size, Growth, Trends, Segmentation, Opportunity and Forecast to 2031

The emotion analytics market was valued at $2.6 billion in 2021, and is estimated to reach $10.5 billion by 2031, growing at a CAGR of 15.3% from 2022 to 2031.

The cloud segment is expected to experience significant growth during the forecast years, owing to increase in adoption of variety of applications such as AI, facial recognition, and other cloud-based software and tools for analyzing customer preferences, identifying human emotions, and others.

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Emotion analytics data is derived from actual customer contacts and follow-ups may be started in real time; proponents of EA contend that the insights offered by emotions analytics programs are more important than those gleaned from customer satisfaction surveys. Gaining information and data from an emotional response may give a more accurate perspective on consumer sentiment given the evidence that humans react emotionally first and think rationally second. This drives the growth of the emotion analytics market. In addition, marketing tactics can be changed by using software that analyses emotions. Marketers can better understand how to deal with the feelings of potential customers and establish a deeper connection with company and products when enterprises take into account human emotions and sentiment analysis. Unfavorable results can be utilized to improve products before things are made available to the general public. Emotion analytics are used to find out how new products are accepted by test group of customers.

Furthermore, surge increase in demand from the automotive sector and surge in need for customer behavior management using data primarily drive the growth of the emotion analytics market. However, analysis of emotional misunderstandings hamper the market growth to some extent. Moreover, applications for emotional recognition are in greater demand and are expected to provide lucrative opportunities for the market growth during the forecast period.

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Region-wise, the emotion analytics market size was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to R&D expenditure, demand for IoT, and adoption of new technology across a range of industries. However, Asia Pacific is expected to witness significant growth during the forecast period, owing to fastest-growing economies and high levels of technology penetration in the region.

The key players profiled in the emotion analytics market analysis are Adoreboard, Affectiva, Apple, Inc., Beyond Verbal Communication, IBM Corporation, iMotions A/S, Microsoft Corporation, Neuromore, NVISO SA and Retinad. These players have adopted various strategies to increase their market penetration and strengthen their position in the emotion analytics industry.

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