ID: MRFR/SEM/2302-HCR | February 2021 | Region: Global | 100 pages
Emotion Detection Technology and recognition is a technique or software that is highly used to read or detect the emotions of a human face with the help of its amazing image processing technologies. Emotion Detection Technology and recognition is a technology that allows them to monitor and detect the behavior and emotions of the consumer regarding a particular brand. Business enterprises use this technology to detect the views of their consumers that could affect their productivity. The advanced Emotion Detection and Recognition Market Trend technique is implemented by the law enforcement industry for the surveillance and tracking of a human through a lie detector test.
This advanced Emotion Detection Technology or software can detect and recognize the user's emotion at any time. In order to analyze the emotion, it goes through their behavioral patterns. According to the market analysis of Global Emotion Detection and Recognition Market, there is a rapid growth in the industry of emotion detection and recognition market due to the rising applications in various industry sectors. There are multiple factors that play a great role in the driving factors of facial emotion detection and recognition market growth. The global industry of Emotion recognition technology market report covers all the driving and restraining factors of the market. It covers the market segmentation and regional analysis by considering the past and current situation of the industry. According to this facial emotion detection and recognition report, the global emotion detection and recognition market is expected to grow at 39% of CAGR between 2017 and 2023, is expected to grow at approx. USD 65 Billion by 2023
COVID 19 Analysis:
The covid 19 impacts have hampered the facial emotion detection and recognition industry in multiple ways as like the other industry. This pandemic has created multiple barriers to the development and growth of the industry. Because of this pandemic, the sales rate and rate of revenue were decreased for a certain time period. The Human emotion recognition system market has faced multiple barriers to reach among the people. It created a barrier in demand for sales and reduced the investment cost. Because of this, the industry adopts multiple new innovative measures to develop the practices. The Emotion recognition technology industry is continuously looking forward to adopting the new practices to reach the targeted audience. The key players and the government authorities have adopted the newly developed strategies to overcome these issues. As a result, the industry is getting new opportunities from the end-users.
The Emotion detection and Emotion recognition technology market are growing day by day because of multiple factors. There are multiple growth factors available in the market that are growing need or advantages of the emotion recognition system for surveillance market, market competition, wide use of technology in smartphones, rising adoption and Emotion recognition applications of IoT technology. The emerging trend of wearable devices is another factor that fuels the growth of the emotion detection and recognition market. The market is further sub-segmented into the biosensor technology that is expected to grow at the highest CAGR due to the huge use of several technologies and Emotion recognition applications like ECG, EEG, EMG, fMRI, GSR, eye tracking, and wearable technology. The other factors of the growing market advantages of the emotion recognition system rate are the increasing number of applications in the military, defense, and healthcare.
The Emotion recognition software industry also contains some restraints that affect its growth rate and hamper production. These market restraints are high installation costs and misinterpretation of emotional analysis. These are the factors that play a wide role in hindering the growth of the emotion detection and recognition market.
This Emotion recognition software industry and market might face some challenges and work hard to prevent them. The market is continuously producing growth by breaking all the barriers. The Emotion recognition software industry is growing day by day by eliminating the regional boundaries. It creates attention among the people by developing quality products and by improving their reachability. To overcome the multiple challenges, the market needs more and more investors who can invest in the products and purchase the franchise so that they can gain revenue. They need more key players across the different regions throughout the world to reach the targeted people. The market faced multiple challenges and overcame this by adapting the multiple collaborative efforts.
As per the analysis or Future scope of emotion recognition, the market is working on numerous terms by considering its growth. The market has the major key players who are implementing the quality measures to seek expansion, agreement, and acquisition. The key players of Emotion Detection and Recognition (EDR) Market play a major role in enhancing the market's ability or Future scope of emotion recognition, to meet the growing demands across the globe. They imposed multiple strategic ideologies to ensure that the market could boom even after the recent revival from COVID 19.
The Emotion Detection and Recognition Market are segmented on the basis of multiple forms that are technology, software tool, service, application, and end-users. These Human emotion recognition system segmentations are further sub-segmented into the multiple factors that are described below.
The Emotion Detection and Recognition Market segmentation as per the Technology:
The Market is segmented into the technology that is further subcategorized into the Bio Sensors Technology, Machine Learning, Pattern Recognition, Feature Extraction, and 3D Modelling, Natural Language Processing (NLP), and others.
The Market segmentation as per the Software Tool:
The EDR Market is segmented into the software and is further subcategorized into Speech and Voice Recognition, Facial Expression Recognition, Bio-Sensing Software Tools, and Apps.
The Emotion Detection Market segmentation as per the Service:
The EDR Market is divided into the service, which is further subdivided as the Storage and Maintenance, Consulting and Integration.
The Emotion Detection Market segmentation as per the By Application:
The Emotion recognition technology segmentation is divided as per the Law Enforcement, Surveillance and Monitoring, Marketing & Advertising, Media & Entertainment, and Others.
The market segmentation as per the End User:
The EDR Market is segmented by the end-users, which are further sub-segmented into the Industrial, Commercial, Defense and Security Agency, Enterprises, and Others.
Regional analysis of the Emotion Detection and Recognition Market:
The regional analysis of the emotion detection and Emotion recognition technology is divided as per the Asia Pacific, North America, Europe, and the Rest of the World. Among the above geographical locations, North America is estimated to account for the largest share of the market. After this Human emotion recognition system, the Asia-Pacific country is projected to grow at the fastest rate during the forecast period. North America also face some major growth in the emotion detection and recognition market in the upcoming years.
Research methodologies of the market:
The Emotion recognition technology report is prepared by the multiple analysts and key players who prepare this report by considering the past and present market scenario. They prepared the Emotion Detection and Recognition (EDR) Market report by taking help from multiple research methodologies that include qualitative and quantitive assessments. They also use SWOT analysis and porter's five force model to provide accurate results to the market. They provide different ideas and innovative thinking that could fuel up the market.
Who are the Intended Audiences of the global market report?
Some of the major Intended Audiences of the global Emotion Detection and Recognition (EDR) Market report are Technology investors, Research/Consultancy firms, Technology providers, Industrial users, Cloud service providers, Commercial users, and Others.
The major Market Key Players:
The prominent players of the emotion detection and recognition market are Emotient, Affectiva (U.S.), An Apple Company (U.S.), Kairos Ar. Inc. (U.S.), Eyeris (U.S.), Noldus (Netherlands), Realeyes (U.K.), Viso (Switzerland), Sightcorp (Netherlands), Skybiometry (Lithuania), Sentiance (Belgium), and others.
Study Objectives of Emotion Detection and Recognition Market:
Frequently Asked Questions (FAQ) :
The surging growth of emotion detection and recognition applications are estimated to define the market in the coming years.
A 39% CAGR is estimated to push the earning potential of the market to USD 65 Billion by 2023.
The contestant in the market like Emotient, An Apple Company (U.S.), Affectiva (U.S.), Eyeris (U.S.), Kairos Ar. Inc. (U.S.), nViso. (Switzerland), Noldus (Netherlands) and Realeyes (U.K.) are estimated to define the markets expansion.
The development in market is expected to restricted due to lack of technical expertise and awareness in the coming period.
The increased technical prowess in the North American region is expected to define the progress in the coming period.