Market Overview

Emotion Detection & Recognition Markets, Forecast to 2024 - Rising Need for Socially Intelligent Artificial Agents

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Dublin, Feb. 11, 2020 (GLOBE NEWSWIRE) -- The "Emotion Detection and Recognition Market by Technology (Feature Extraction & 3D Modeling, NLP, ML), Software Tool (Facial Expression Recognition, Speech & Voice Recognition), Application Area, End User, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The Global Emotion Detection & Recognition Market is projected to grow from US$ 21.6 billion in 2019 to US$ 56 billion by 2024, at a CAGR of 21%.

Rising need for socially intelligent artificial agents, increasing demand for speech-based biometric systems to enable multifactor authentication, technological advancements across the globe, and the growing need for high operational excellence are expected to enhance the use of emotion detection and recognition solutions across the globe. However, high production costs and integration of new emotion detection and recognition technologies with existing legacy systems are expected to restrain the market growth.

By software tool, the biosensing software tools and apps segment to hold the largest market size in 2019

Biosensing software tools and apps collect human gestures through sensors, such as Electrocardiography (ECG), Electroencephalography (EEG), Electromyography (EMG), eye-tracking sensors, and wearables. These software tools convert the collected inputs into mathematical form and interpret them for various applications, which is used in online learning systems, law enforcement sectors (applications, such as lie-detection and other threat detection), and healthcare. The use of biosensing software tools and apps to analyze growing inputs from the increasing adoption of biosensors, such as wearables, can act as a game changer for this particular market.

By end-user, the industrial segment to register the highest growth rate during the forecast period

The industrial end-user includes big manufacturing giants and heavy industrial equipment manufacturers, such as automobile, chemical industry, real estate, renting and leasing, textile industry, brewing industry, and the energy industry, which consists of the electricity industry, natural gas industry, and the petroleum industry. These end-users deploy emotion detection and recognition software to minimize or restrict fraudulent activities.

Emotion detection and recognition software can also be integrated with devices and applications of other automotive industries to have an emotional connect with the users and track the data with emotion sensors to gain a deeper understanding and improve customer experiences.

Asia Pacific to register the highest growth rate during the forecast period

Asia Pacific (APAC) has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR in the global emotion detection and recognition market during the forecast period. APAC constitutes major economies, such as China, Japan, and Australia, which are expected to register high growth rates in the emotion detection and recognition market.

End users, such as industrial, commercial, and enterprises are expected to adopt emotion detection and recognition solutions at the highest rate in the region. Companies operating in APAC would benefit from the flexible economic conditions, industrialization-motivated policies of the governments, as well as from the growing digitalization, which is expected to have a significant impact on the business community.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Emotion Detection and Recognition Market
4.2 Market Share of Top 3 End Users and Regions, 2019
4.3 Market By Application Area, 2019-2024
4.4 Market By End User, 2019-2024

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Need for Socially Intelligent Artificial Agents
5.2.1.2 Increased Demand for Speech-Based Emotion Detection Systems to Analyze Emotional States
5.2.1.3 Technological Advancements in IoT, AI, Ml, and Deep Learning Across the Globe
5.2.1.4 Growing Need for High Operational Excellence, Increased Resource Utilization, and Enhanced Productivity
5.2.2 Restraints
5.2.2.1 High Production Cost of Emotion Detection and Recognition Systems
5.2.2.2 Interoperability Concerns
5.2.2.3 Oligopoly in the Development of the Speech and Voice Recognition Technologies Using Neural Networks Restricting Its use for Cloud-Based Services
5.2.3 Opportunities
5.2.3.1 Growing Inclination Toward Industry-Specific Solutions
5.2.3.2 Increasing Government Initiatives to Leverage Benefits of Emotion Detection and Recognition Technology
5.2.3.3 Growing Partnerships and Widening Ecosystems
5.2.4 Challenges
5.2.4.1 Complex Systems for Emotion Recognition
5.2.4.2 Deficient Knowledge and Awareness and Technical Challenges
5.2.4.3 Threat of Privacy and Data Breach
5.3 Principles of Measuring Emotions
5.4 Use Cases
5.4.1 Use Cases: Healthcare
5.4.2 Use Cases: Entertainment and Gaming
5.4.3 Use Cases: Government and Defense
5.4.4 Use Cases: Automotive
5.4.5 Use Cases: High-Tech

6 Emotion Detection and Recognition Market, By Technology
6.1 Introduction
6.2 Feature Extraction and 3D Modeling
6.3 Biosensors Technology
6.4 Natural Language Processing
6.5 Machine Learning
6.6 Other Technologies

7 Emotion Detection and Recognition Market, By Software Tool
7.1 Introduction
7.2 Facial Expression Recognition
7.3 Biosensing Tools and Apps
7.4 Speech and Voice Recognition
7.5 Gesture and Posture Recognition

8 Emotion Detection and Recognition Market, By Application Area
8.1 Introduction
8.2 Medical Emergency
8.3 Marketing and Advertising
8.4 Law Enforcement, Surveillance, and Monitoring
8.5 Entertainment and Consumer Electronics
8.6 Other Application Areas

9 Emotion Detection and Recognition Market, By End User
9.1 Introduction
9.2 Enterprises
9.3 Defense and Security Agency
9.4 Commercial
9.5 Industrial
9.6 Other End Users

10 Emotion Detection and Recognition Market, By Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Rest of the World

11 Competitive Landscape
11.1 Introduction
11.2 Competitive Leadership Mapping
11.2.1 Visionary Leaders
11.2.2 Dynamic Differentiators
11.2.3 Innovators
11.2.4 Emerging Companies
11.3 Competitive Scenario
11.3.1 New Product Launches and Product Enhancements
11.3.2 Partnerships and Collaborations
11.3.3 Mergers and Acquisitions

12 Company Profiles
12.1 Introduction
12.2 Apple (Emotient)
12.3 Google
12.4 Microsoft
12.5 IBM
12.6 Affectiva
12.7 Beyond Verbal
12.8 Noldus Information Technology
12.9 Tobii
12.10 NEC
12.11 Sentiance
12.12 nViso
12.13 Eyesight Technologies
12.14 Ayonix
12.15 Cognitec Systems
12.16 SightCorp
12.17 CrowdEmotion
12.18 Kairos
12.19 Eyeris
12.20 iMotions
12.21 Right to Win

For more information about this report visit https://www.researchandmarkets.com/r/2h0hjh

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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