Emotion Analytics Market by Application and Geography - Global Forecast and Analysis 2019-2023
Global Emotion Analytics Market: About this market
Technavio’s emotion analytics market analysis considers sales from customer experience management, sales marketing management, competitive intelligence, public safety and law enforcement, and other applications. Our analysis also considers the sales of emotion analytics in APAC, Europe, North America, South America, and MEA. In 2018, the customer experience management segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the growing need for vital customer information to help business and companies interact easily with customers and gain customer loyalty will play a significant role in the customer experience management segment to maintain its market position. Also, our global emotion analytics market report looks at factors such as the growing demand for data-based customer behavior management, increasing demand from media and entertainment industry, and high demand for emotion analytics from the healthcare industry. However, accuracy of emotion analytics, facial recognition challenges, and privacy security issues may hamper the growth of the emotion analytics industry over the forecast period.
Global Emotion Analytics Market: Overview
Growing demand for data-based customer behavior management
The need for enhanced customer management across industries is driving the demand for emotion analytics. Through emotion analytics, brands can connect to customers on a personal and emotional level. Moreover, using emotion analytics enables businesses and brands to analyze any disconnect or disruption between the expected and the genuine experience of customers. Emotion analytics enables companies to know more about customers opinions on a brand and improve their strategies. The increased demand for emotion analytics among customers will lead to the expansion of the global emotion analytics market at a CAGR of over 17% during the forecast period.
Increasing use of emotion recognition in automotive sector
Emotion recognition is witnessing huge investments from the automotive sector as car manufacturers and OEMs in the automotive industry are increasingly focusing on analyzing the emotions of car drivers to enhance car safety. Such emotion analytics features will be in-built in high-end cars soon. Furthermore, emotion analytics is expected to be helpful in building a personalized in-cab experience, which would enhance consumer loyalty to a brand. The development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global emotion analytics market during the forecast period 2019-2023, click here.
With the presence of several major players, the global emotion analytics market is moderately fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading emotion analytics manufacturers, that include Alphabet Inc., Deloitte Touche Tohmatsu Ltd., Gorilla Technology Group, IBM Corp., Lexalytics Inc., Microsoft Corp., NVISO SA, SAS Institute Inc., Sentiance NV, and Tobii AB.
Also, the emotion analytics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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