PUNE, MAHARASHTRA, INDIA, February 21, 2022 /EINPresswire.com/ -- Emotion Detection And Recognition Market Research Report- Forecast till 2027

Market Highlights

According to Market Research Future (MRFR), the global emotion detection and recognition market is projected to garner 65 billion by 2023, growing at an impressive CAGR of 39% during the forecast period (2017 – 2023).

The emotion detection and recognition market is expected to witness rapid revenue growth due to vast adoption of human emotion detection techniques in government sectors. Besides, rising uses of the various detection technologies to detect consumer’s views to improve customer experience drive the market growth.

Many industry leaders who are well placed in the industry have already started investing heavily in the sector. Such innovations concentrate primarily on R&D and expansion by mergers and acquisitions. The potential for future growth is one of the main motivating factors which drives demand for this sector at an exceptionally high rate. Wearable technology growth is one of the main motivators for the increase in demand on this market. A thorough understanding of emotion is a factor that challenges the EDR market, because emotions can be expressed in several ways and can also be deceiving. Despite this challenge, developments in AI technology are expected to drive the demand for EDR over the forecast period.

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Segmentation:

The emotion detection and recognition market report is segmented into technologies, software tools, services, applications, end-users, and regions. The technology segment is sub-segmented into biosensor technology, machine learning, pattern recognition, feature extraction, and 3D modeling, natural language processing (NLP), and others.

The software tool segment is sub-segmented into speech and voice recognition, facial expression recognition, bio-sensing software tools, and apps. The services segment is sub-segmented into storage & maintenance, consulting & integration, and others.

The application segment is sub-segmented into law enforcement, surveillance and monitoring, marketing & advertising, media & entertainment, and others. The end-users segment is sub-segmented into industrial, commercial, defense and security agencies, enterprises, and others. The region segment is sub-segmented into Americas, Europe, APAC, and Rest-of-the-World.

Regional Analysis:

The geographical synopsis of the global emotion detection and recognition market has been analyzed in four major regions, comprising the Asia Pacific, North America, Europe, and the rest of the world.

Owing to the involvement of countries such as the United States and Canada, which are home to the largest retail markets, with demand for IoT and smart wearables, and strong ad spending, North America is projected to retain a substantial market share. The region's marketers are among the world's leading adopters of technologies that enable consumers to gain insight. North American has many major players on the market offering innovative solutions to all end users in the regions. The US and Canada are projected to be major contributors to the growth of the emotion detection and recognition market due to their strong economies. The United States is one of the world's largest retail markets, driving a considerable share of global retail like e-commerce. In addition to this factor, the geographic presence, strategic investments, partnerships, and significant R&D activities contribute to the heavy deployment of emotion detection and recognition solutions. With the rising retail sales, the region's retailers are increasingly spending on ads that target the right segment. Rising sales allow retailers to spend more on technologies that allow such capabilities.

Competitive Synopsis

The major market players operating in the global market as identified by MRFR are Sightcorp (Netherlands), Affectiva (U.S.), Eyeris (U.S.), Emotient, An Apple Company (U.S.), Kairos Ar. Inc. (U.S.), Noldus (Netherlands), Realeyes (U.K.), nViso. (Switzerland), Sentiance (Belgium), Skybiometry (Lithuania) among others.

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Emotion Detection and Recognition Market, By Technology (Bio Sensors Technology, Pattern Recognition, NLP, Machine Learning, Feature Extraction), Software Tool (Voice Recognition, Facial Expression), Service, Application and End User – Forecast 2027

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