Emotion Detection and Recognition Market Current Status and Future Prospects (2023-2028) - Glasgow West End Today
An examination of the emotion detection and recognition market within the industry.
Emotion detection and recognition (EDR) is a technique used to identify and monitor human emotions through various capabilities like recognizing facial expressions, speech and voice recognition, machine learning, pattern recognition, biosensing, etc. It primarily relies on image processing technologies to detect emotions like happiness, sadness, anger, etc. EDR also looks for subtle facial expressions such as disdain and contempt. Furthermore, it is widely employed to analyze body postures and gestures, and identify patterns of behavior. Therefore, it finds extensive applications in various industries such as marketing and advertising, law enforcement, healthcare, etc.
What is the size of the market for emotion detection and recognition?
In 2022, the size of the global market for emotion detection and recognition reached an impressive US$ 40.1 Billion. Going ahead, it is anticipated that the market will expand even further and reach a staggering US$ 116.7 Billion by 2028, reflecting a remarkable growth rate (CAGR) of 19.3% during the period of 2023-2028, as projected by IMARC Group.
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Global Emotion Detection and Recognition Market Trends and Factors Influencing its Growth:
The demand for better customer experiences is primarily driving the market for detecting and recognizing emotions. Additionally, there is an increasing need for a human touch in digital interactions and the widespread use of emotion detection and recognition technology to assess customer feedback. This is further supporting the market growth. Furthermore, the use of emotion detection and recognition with wearable devices to analyze physiological and behavioral data and generate automated responses is another important factor driving the market growth. Additionally, government bodies are using emotion detection and recognition solutions to monitor crowd behavior and identify potential threats, which is positively impacting the global market. Emotion detection and recognition systems are also being utilized in smart cars to provide real-time facial analysis and alert drivers, which is boosting market growth. The introduction of artificial intelligence and deep learning algorithms to improve outcomes is expected to drive the market for emotion detection and recognition in the future.
Who are the major players/firms in the market for identifying and understanding emotions?
Affectiva, also known as Smart Eye AB, Cognitec Systems GmbH which is the same as SALTO Systems, Emotibot Technologies Limited, Eyeris Technologies Inc., International Business Machines Corporation (IBM), Kairos AR Inc., NEC Corporation (AT&T Corporation), Noldus Information Technology bv, NVISO SA, Paravision, Realeyes, Sightcorp BV, and SkyBiometry are all companies in the field.
The analysis has divided the market into the following classifications:
Separation caused by the consumer:
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