Emotion Detection and Recognition Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Emotion Detection and Recognition market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
“Emotion Detection and Recognition Market report is anticipated to register a CAGR of 32.7% over a five years forecast period (2020 – 2023).”
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List of Major Key players operating in the Global Emotion Detection and Recognition Market are –
- Tobii AB (publ)
- Realeyes OU
- Nviso SARL
- Emovu (Eyeris)
The global emotion detection & recognition market is estimated to witness a CAGR of 32.7% over the forecast period (2020 - 2023), driving the market to reach 24.74 billion by 2020. Understanding emotion holds significance during the interaction process between humans and machine communication systems. EDR not only improves human and computer interfaces, but also enhances the feedback mechanism actions taken by computers from the users.
The increasing demand for wearable devices and increasing penetration of Internet of Things (IoT) are the major determinants of the growth of the global EDR solutions market. Countries, such as China, India, Japan, and South Korea, which have a massive population, are putting extra efforts to implement EDR technology to meet the growing expectations.
Growing Adoption of Wearable Devices
Growing adoption of wearable devices, which include smart watches, fitness bands, smart glasses, and smart textiles, will enable the growth of the EDR market over the forecast period. The usage of these devices has witnessed high growth rate in the past few years. According to Consumer Technology Association, the global shipments of smart watches have almost doubled from 38 million in 2016 to 75 million in 2017. High investments in the industry and large industry collaborations are resulting in innovations in wearable technology.
These wearable devices are equipped with biological sensors to monitor heartbeat and temperature, along with other components, such as microphones and cameras to capture human emotions, such as gestures, body postures, tone of voice, and facial expressions. Wearable devices continuously collect data from these sources and analyze the data to monitor health and other aspects of the user. Thus, the growing number of wearable devices is expected to drive the growth of the market over the coming years.
Government Sector is Expected to Dominate the Market Landscape
The major application of EDR in government sector includes security & surveillance, authentication, and law enforcement. Governments around the world are inclined toward advanced authentic solutions to diminish wrongdoings and improve regulations. Various governments across the world are allocating a significant share of their budgets for tools that improve situational awareness of their army personal. These tools help them analyze data accrued daily, which, in turn, is used to monitor stress and emotional intelligence of soldiers in critical situations. For instance, in Japan, software for evaluating stress using speech emotion recognition technology was developed to help militaries and civilian citizens dealing with Post Traumatic Stress Disorder (PTSD). This system will be used to investigate emotion (mental stress) by natural speaking voice. Thus, development of this software is boosting the growth of EDR in this sector.
North America to Dominate the Market
North America has the highest share in the market. High investments and growing support from several end-user verticals to provide better services and security are driving the growth of the market in this region. The governments in this region are hosting several R&D activities in the field of EDR. The Feature Extraction and 3D modeling technology is being used in the North America region and the bio-sensors technology is expected to attain a better growth rate by 2023.
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Scope of the Report:
The report analyses Emotion Detection and Recognition market, which includes –
- Analysis of the growth of Emotion Detection and Recognition market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Emotion Detection and Recognition market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Emotion Detection and Recognition market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Emotion Detection and Recognition market are discussed.
- The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.
Highlighted points of Emotion Detection and Recognition Market Report:
- Varying dynamics of the Emotion Detection and Recognition industry.
- Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
- Emotion Detection and Recognition market report recognizes the key drivers of growth and challenges of the key industry players.
- Competitors profiles along with product description, overview, and business data.
- A complete analysis of market risks, opportunities, limitations, and growth of the market.
- Market driving and restraining factors.
- Delivers information on the historical and current market size and the future potential of the market.
- Emotion Detection and Recognition market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.
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Reasons to Purchase Emotion Detection and Recognition Market Report:
- The report analyses how stringent emission control norms will drive the global Emotion Detection and Recognition market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Emotion Detection and Recognition market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
In this study, the years considered to estimate the market size of Emotion Detection and Recognition:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023
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