The global emotion detection and recognition (EDR) market is forecasted to grow at a CAGR of 27.20% and is projected to reach USD 17.98 billion by 2020. EDR software tracks the users’ emotion at any given point in time using webcams or other specialized equipment and analyzes how their emotions are linked to their behavioral patterns. For example, the effects of sales pattern on an ad campaign with a certain sentiment, engagement towards the campaign, vitality, etc.
EDR has been primarily used to track consumers’ emotional connect towards a particular brand and its effect on sales but now it has grown from mere tracking to making them more effective. Early EDR systems found their applications in the area of law enforcement and surveillance for lie detection and polygraph tests. This is now making its roots in several verticals like Research and gaming and is expected to record high growth rates. Thus the need for sophisticated and advanced technologies to standardize emotion detection across the globe is driving the APAC markets to grow rapidly in this sector.
The boom of wearable technologies along with Internet of Things (IoT) is also contributing towards the growth of EDR market during the forecast period. The requirements of a specific recording/monitoring device for facial/emotional recognition and the costs associated with it are the major restraints that the industry now faces. EDR market has benefited with the increasing number of smartphones, but the privacy concern over the tracked data is overshadowing the growth of the same. EDR market is segmented by the type of tool, by verticals and by regions.
Some of the key players mentioned in this report are:
Affectiva Emotient (acquired by Apple) eMoVu(eyeris. Kairos Noldus nViso RealEyes, Sentiance SightCorp Tobi What the report offers
Market definition for emotion detection and recognition along with identification of key drivers and restraints for the market. Market analysis for the global emotion detection and recognition market, with region specific assessments and competition analysis on a regional scale. Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies which can influence the market on a regional scale. Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share. Identification and analysis of the macro and micro factors that affect the global emotion detection and recognition market on the global and regional scale. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.