Emotion Detection and Recognition Market by Technology (Bio-Sensor, NLP, Machine Learning), Software Tool (Facial Expression, Voice Recognition), Service, Application Area, End User, and Region - Global Forecast to 2021
Increasing adoption of wearable technologies is driving the emotion detection and recognition market
The emotion detection and recognition market size is expected to grow from USD 6.72 billion in 2016 to USD 36.07 million by 2021, at a Compound annual Growth Rate (CAGR) of 39.9% from 2016 to 2021. The ever-growing need for high operational excellence, optimized resource utilization, improved security measures, and enhanced productivity in an enterprise for a sustainable future has led to the adoption of emotion detection and recognition solutions. The market is being driven by factors such as increased focus on affective computing, cognitive services, & business intelligence and growing amount of spatial data as well as prompt availability of analytical tools.
Law enforcement, surveillance, and monitoring area is projected to showcase robust growth in the emotion detection and recognition market
The defense and security agencies require emotion detection and recognition technology for surveillance and monitoring purposes. The technology is capable of recognizing faces in real time using webcam, providing accurate gender information & age detection, searching & matching faces from the database, and detecting mood & other features.
“Asia-Pacific (APAC) expected to experience extensive growth opportunities in the next few years
In the rapidly growing economies of APAC, such as China and India, the growing demand for enhanced technology implementation and awareness and efforts to standardize the emotion detection and recognition technology are some of the growth drivers for the market. Additionally, huge population, developing technology hubs, and affluent countries such as South Korea and Japan have further enhanced the growth prospects in this region. Increasing trend of wearable devices, evolution of Internet of Things (IoT), along with growing technology -provide tremendous opportunities for growth in the next five years.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. Break-up of the profiles of primary participants is as follows:
By Company: Tier 1: 36 %, Tier 2: 21%, and Tier 3: 43%
By Designation: C level: 75%, Director level: 15%, Others: 10%
By Region: North America: 70%, Europe: 15%, APAC: 15%
The emotion detection and recognition ecosystem comprises major vendors such as Affectiva (U.S.), Beyond Verbal (Israel), Crowd Emotion Ltd. (U.K.), Emotient, an Apple company (U.S.), Eyeris (U.S.), Kairos Ar. Inc. (U.S.), Noldus (Netherlands), nViso (Switzerland), Realeyes (U.K.), Sentiance (Belgium), Sightcorp (Netherland), and SkyBiometry (Lithuania).
The report includes in-depth competitive analysis of these key players in the emotion detection and recognition market, with their company profiles, recent developments, and key market strategies. The research report segments the emotion detection and recognition market by software tool, service, application area, end user, and region.
Reasons to buy the report
The emotion detection and recognition market has been segmented on the basis of technology, software tool, service, application area, end user, and region. The report will help the market leaders/new entrants in this market in the following ways:
1. The report segments the emotion detection and recognition market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments. The market numbers are further split across different verticals and regions.
2. The report helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitors and gain more insights to better position their businesses. There is a separate section on competitive landscape, including competitor ecosystem, and mergers & acquisitions. Besides, there are company profiles of 12 players offering services in this market. In this section, market internals are provided that can put them ahead of the competitors. The report also covers a list of 12 key innovators in the market.