Press release
Global Market Insights 2024: Emotional AI Industry Trends
Emotional AI Market Segmentation
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Report Coverage & Details:
• Forecast Period: 2024-2033
• Base Year: 2023
• Market Size In 2024: $30.02 billion
• Revenue Forecast In 2033: $43.33 billion
• CAGR: 9.6%
Global Emotional AI Market: Segmentation
The emotional ai market covered in this report is segmented -
1) By Component: Software, Service
2) By Tools: Facial Recognition, Speech And Voice Recognition, Gesture And Posture Recognition
3) By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises
4) By Application: Banking Financial Services And Insurance (BFSI), Healthcare , IT And Telecommunication, Retail And E-commerce, Government, Media And Entertainment, Automotive , Other Applications
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Emotional AI Market Report: Growth Drivers
The rising demand for an improved customer experience is projected to drive the growth of the emotional AI market in the future. Customer experience (CX) encompasses the complete interaction and perception customers have with a brand or company throughout their journey, from initial awareness and consideration to actual purchase, usage, and post-purchase support. Emotional AI is utilized to comprehend and respond to customers' emotions, enhancing interactions by analyzing responses, products, and services to create more personalized and empathetic experiences, ultimately fostering increased customer loyalty and satisfaction. For example, in June 2022, a survey conducted by Verint, a U.S.-based customer engagement solutions firm, found that 39% of over 2,000 U.S. consumers aged 18 to 75 would discourage friends and family from buying from a brand after a poor experience. Additionally, 64% reported ceasing business with such companies, and 79% of respondents under 45 emphasized the importance of a positive experience on digital platforms. Consequently, the rising demand for a better customer experience is propelling the emotional AI market's growth.
Key Developments:
Uniphore's Acquisition Of Hexagone To Elevate Emotional AI Integration In Conversational Service Automation
In February 2023, Uniphore, a US-based automation technology company, acquired Hexagone for an undisclosed amount. This acquisition could potentially enable Uniphore to offer more comprehensive solutions that involve emotion recognition and analysis as part of their conversational service automation platform. Hexagone is a France-based emotional AI company that offers voice, visual, and text-based data to provide AI-derived insights.
Top Market Leader Included:
Apple Inc., Alphabet Inc., Microsoft Corporation, Sony Group Corporation, Panasonic Corporation, Intel Corporation , International Business Machines Corporation (IBM), Latent View Analytics Ltd., Nvidia Corporation, NEC Corporation, Baidu Inc., UiPath Inc., Cogito Corporation, Tobii Technology AB, Gorilla Technology Group, Noldus Information Technology, Entropic Technologies, Affectiva Inc., Realeyes OÜ, Lexalytics Inc., Beyond Verbal Communication Ltd., iMotions A/S, Sentiance NV, NuraLogix Corporation, NVISO Inc., Kairos AR Inc., Sensum, MetaSoul Inc
Emotional AI Industry: Regional Landscape
North America was the largest region in the emotional AI market in 2023. The regions covered in the emotional ai market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the emotional AI market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
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What Does The Global Emotional AI Market Report Include?
1.Introduction
• Overview of the Emotional AI Market
• Comprehensive Analysis of Emotional AI Market
2. Emotional AI Market Drivers and Restraints
• Drivers and Restraints For Historic And Forecast Period
3. Emotional AI Market Segmentation
• By Drug Class
• By Indication
• By Distribution Channel
4. Competitive Landscape And Company Profiles In The Emotional AI Market
• Overview
• Products and Services
• Strategy
5. Emotional AI Market Regional And Country Analysis
• By Region
• By Country
6. Market Trends And Opportunities In Emotional AI Market
• Technological Advancements
• Emerging Trends
7. Emotional AI Market Future Outlook and Potential Analysis
• Growth Strategies
• New Opportunities
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