Overview and Scope
Emotion analytics refers to software that uses technology, typically artificial intelligence (AI) and machine learning (ML) algorithms, to recognize, interpret, and understand human emotions. This field combines techniques from computer science, psychology, and data analytics to interpret human emotions through facial expressions, voice tone, physiological signals, and other behavioral cues.
Sizing and Forecast
The emotion analytics market size has grown rapidly in recent years. It will grow from $3.58 billion in 2023 to $4.15 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to increased adoption of ai technology, rising demand for personalization, increasing demand for better customer experience, rising requirement for socially intelligent artificial objects, increased use in healthcare:.
The emotion analytics market size is expected to see rapid growth in the next few years. It will grow to $7.46 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to increased integration with iot devices, expansion in human-robot interaction, wider adoption in human resources, growth in edge computing. Major trends in the forecast period include emotionally intelligent chatbots and virtual assistants, emotional ai in remote work and collaboration tools, cross-industry collaboration for standardization, emotionally aware marketing campaigns.
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Segmentation & Regional Insights
The emotion analytics market covered in this report is segmented –
1) By Type: Text Analytics, Facial Analytics, Speech Analytics, Video Analytics
2) By Deployment Mode: On-premise, Cloud
3) By Enterprise Size: Large Enterprise, SME’s
4) By Application: Customer Experience Management, Sales and Marketing Management, Competitive Intelligence, Public Safety and Law Enforcement, Workforce Management
5) By End User: Retail, IT and Telecom, BFSI, Government, Defense and Security, Others End User
North America was the largest region in the emotion analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the emotion analytics 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 growing adoption of IoT is expected to propel the growth of the emotion analytics market going forward. The Internet of Things (IoT) refers to a network of interconnected physical devices, vehicles, appliances, and other objects that are embedded with sensors, actuators, software, and network connectivity. Emotion analytics integration with IoT devices can result in more personalized, adaptive, and intuitive experiences across a range of fields, increasing the overall value and efficacy of IoT applications. For instance, in January 2022, data from the GSM Association, a UK-based non-profit industry organization, predicted that there would be a significant increase in global IoT connections from the 15.1 billion connections recorded in 2021 to 23.3 billion by 2025. Therefore, the growing adoption of IoT is driving the growth of the emotion analytics market.
Key Industry Players
Major companies operating in the emotion analytics market report are Apple Inc., Google LLC, Microsoft Corporation, Deloitte Touche Tohmatsu Ltd., IBM Corporation, Hexagon AB, Tobii AB, NVISO, Gorilla Technology Group, Cogito Corporation, Kairos AR Inc., Noldus Information Technology, Humanyze, Sensum Co., Clarifai Inc., Emotiv Inc., Lexalytics Inc., Affectiva Inc., Beyond Verbal, NuraLogix Corp., iMotions A/S, Empath Inc., Audeering GmbH, Nemesysco Ltd., Adoreboard, Emotion Research Lab, Neuromore, Sentiance NV
The emotion analytics market report table of contents includes:
1. Executive Summary
2. Emotion Analytics Market Characteristics
3. Emotion Analytics Market Trends And Strategies
4. Emotion Analytics Market – Macro Economic Scenario
5. Global Emotion Analytics Market Size and Growth
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31. Emotion Analytics Market Other Major And Innovative Companies
32. Global Emotion Analytics Market Competitive Benchmarking
33. Global Emotion Analytics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Emotion Analytics Market
35. Emotion Analytics Market Future Outlook and Potential Analysis
36.Appendix
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