Overview and Scope
Emotion detection and recognition refer to a technique that uses technologies such as facial recognition, speech and voice recognition, machine learning, biosensing, and pattern recognition to detect and recognize human emotions to make better decisions, improve focus and performance at work, manage stress, and adopt healthier and more productive working styles.
Sizing and Forecast
The emotion detection and recognition market size has grown rapidly in recent years. It will grow from $24.54 billion in 2023 to $28.25 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to increasing integration in consumer electronics, rising demand for enhanced customer experience, growing awareness in healthcare.
The emotion detection and recognition market size is expected to see rapid growth in the next few years. It will grow to $49.92 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to rise of remote and virtual interactions, focus on mental health applications, application in education, expanding use in automotive industry, privacy-preserving solutions. Major trends in the forecast period include integration with artificial intelligence (AI) and machine learning (ML), advancements in facial recognition technology, integration with wearable technology, advancements in facial recognition algorithms, application in human-computer interaction.
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Segmentation & Regional Insights
The emotion detection and recognition market covered in this report is segmented –
1) By Software Tool: Facial Expression And Emotion Recognition, Gesture And Posture Recognition, Voice Recognition
2) By Technology: Pattern Recognition Network, Machine Learning, Natural Language Processing, Other Technologies
3) By End-User: Commercial, Entertainment, Retail, Other End Users
North America was the largest region in the emotion detection and recognition market in 2023. The regions covered in the emotion detection and recognition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing IoT applications and adoption of wearable devices are expected to propel the growth of the emotion detection and recognition (EDR) market. The IoT applications and adoption of wearable devices are increasing due to various reasons such as a shift towards digital processes, productivity with reduced cost and efficiency, collection of accurate data, analysis, and others. This rising adoption of IoT and wearable devices will result in the use of emotion detection and recognition as EDR can be integrated into IoT applications and wearable devices to capture physiological, and behavioral data and responses to analyze and create automated responses based on emotion. This will help derive better decisions and improve the performance and functionalities of a business or product. For instance, according to the IoT statistics published in May 2022 by an independent review site DataProt, the number of active IoT devices is expected to surpass 25.4 billion by 2030. By 2025, 152,200 IoT devices will connect to the internet every minute. By 2025, Internet of Things solutions will have the potential to generate $4-11 trillion in economic value. IoT technology has improved the efficiency of 83% of organizations. These statistics indicate that the IoT applications are increasing globally. Thus, the increasing IoT applications and adoption of wearable devices will drive the emotion detection and recognition (EDR) market growth.
Key Industry Players
Major companies operating in the emotion detection and recognition market report are Apple Inc., IBM Corporation, Emotional AI, Emteq Limited, NVISO SA, Tobii AB, Cogito Corporation, Q3 technologies Inc., Paravision Inc., Noldus Information Technology BV, Entropik Technologies Pvt. Ltd., Xpression Technologies Pte. Ltd., Cognitec Systems GmbH, Realeyes OU, B-Yond, Affectiva lnc., Beyond Verbal Communications Ltd., iMotions A/S, Ayonix Corporation, CrowdEmotion Ltd., Sentiance NV, Sightcorp BV, SkyBiometry, Nemesysco Ltd., Sension Technologies Inc., Vokaturi BVBA, Emotion AI Limited, Kairos AR Inc., Emotion Research Lab S.L, Eyeris Technologies Inc., EmoGraphy Private Limited, Emotion Technology Ltd.
The emotion detection and recognition market report table of contents includes:
1. Executive Summary
2. Emotion Detection And Recognition Market Characteristics
3. Emotion Detection And Recognition Market Trends And Strategies
4. Emotion Detection And Recognition Market – Macro Economic Scenario
5. Global Emotion Detection And Recognition Market Size and Growth
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31. Emotion Detection And Recognition Market Other Major And Innovative Companies
32. Global Emotion Detection And Recognition Market Competitive Benchmarking
33. Global Emotion Detection And Recognition Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Emotion Detection And Recognition Market
35. Emotion Detection And Recognition Market Future Outlook and Potential Analysis
36.Appendix
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