Emotional AI Market Expansion Continues, with Forecast Valuation of $46.82 Billion by 2029

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What Is the Expected CAGR for the Emotional AI Market Through 2025?
The size of the emotional AI market has seen robust growth over the past few years. The market size is projected to increase from $30.02 billion in 2024 to $32.64 billion in 2025, yielding a compound annual growth rate (CAGR) of 8.7%. Factors contributing to this growth during the historic period are heightened competitive pressure, market uncertainties, improvements in efficiency and productivity, focus on customer needs, and the implementation of devops practices.

What's the Projected Size of the Global Emotional AI Market by 2029?
In the coming years, the market size for emotional AI is projected to experience robust growth, reaching $46.82 billion by 2029 with a 9.4% compound annual growth rate (CAGR). This anticipated growth over the forecast period can be attributed to factors such as increased emphasis on employee experience, regulatory shifts and compliance, alignment with business strategy, quick market shifts, and resilience planning. Key trends for the forecasted period include concerns around cybersecurity, ongoing technological advancement, globalization and remote teamwork, initiatives for digital transformation, and the use of agile tools and technologies.

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Top Growth Drivers in the Emotional AI Industry: What's Accelerating the Market?
The growth of the emotional AI market is anticipated to be propelled by the escalating demand for superior customer experience. Customer experience, or CX, entails the comprehensive interaction customers have with a business or brand throughout their journey, from initial awareness and contemplation all the way to actual purchasing, usage, and after-sales assistance. As companies strive to set themselves apart, foster brand loyalty and cater to customer expectations for personalized, smooth interactions, the demand for exemplary customer experiences is increasing. Emotional AI is utilized in the realm of customer experience to understand and respond to customer emotions, enhancing interactions by investigating responses, products, and services to create more tailored, empathetic, and emotionally impactful experiences, which ultimately cultivates increased customer loyalty and satisfaction. For example, a survey conducted by US-based customer engagement solutions firm, Verint, in June 2022, with over 2000 US consumers aged 18 to 75, found that 39% of participants agreed they would dissuade their friends and family from purchasing from a company if they had a negative customer experience with that brand. Additionally, 64% of the participants had already ceased transactions with companies providing unsatisfactory customer service experiences, and 79% of respondents below 45 years agreed that an excellent experience on digital platforms was highly crucial. Thus, the growing demand for a superior customer experience is fueling the expansion of the emotional AI market.

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What Trends Will Shape the Emotional AI Market Through 2029 and Beyond?
Emotional AI market leaders are concentrating their forces on creating solutions pivotal to customizing customer experiences via understanding their emotional needs through AI tools and software. These AI tools are essentially technologies that scrutinize user behavior, sentiment, and engagements to refine experiences and feedback based on their emotional condition and tastes. For example, AB Tasty, a software development firm based in France, in September 2023, unveiled EmotionsAI, an AI tool engineered to identify users' emotional requirements. This innovative technology enables brands to tweak the customer experience based on comprehending their customers' emotional desires. It segregates visitors into ten different groups depending on their interaction pattern with a business's website. Moreover, these augmented features help brands comprehend and fulfill their visitors' emotional demands, potentially enhancing customer experiences, conversion rates, and profit.

What Are the Main Segments in the Emotional AI Market?
The emotional aimarket 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

Subsegments:
1) By Software: Emotion Recognition Software, Sentiment Analysis Tools, Facial Recognition Software, Speech And Voice Analysis Software
2) By Service: Consulting Services, Integration Services, Support And Maintenance Services, Training And Development Services

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Which Top Companies are Driving Growth in the Emotional AI Market?
Major companies operating in the emotional AI market report are 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

Which Regions Will Dominate the Emotional AI Market Through 2029?
North America was the largest region in the emotional AI market in 2024. The regions covered in the emotional ai market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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