Emotion Analytics Market Size 2021-2030, Trends and Growth Factors and Details for Business Development

In a recent published report, Kenneth Research has updated the market report for Emotion Analytics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

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U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Emotion Analytics Market products

The Emotion Analytics Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.

Market Scenario:

Companies such as Microsoft Corporation (U.S.), International Business Machines Corporation (U.S.), Apple, Inc. (U.S.), Retinad Virtual Reality Inc. (Canada), Neuromore Inc. (U.S.), are the leading providers of emotion analytics solution in the global market. On March 2, 2017, Lightspeed LLC, a global leader of digital data collection, has gone into the partnership agreement with Affectiva, to introduce their new emotion analytics across the Americas, Europe, and the Asia Pacific regions. This emotion analytics has an ability to quantify emotion from more than 5.5 million light speed panelists in real time.

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The quantifying of emotion is done via emotion recognition technology, which is built on an automated facial coding system. With the combination of facial recognition and emotion analytics technologies, the facial biometrics is embarking the emotion analytics market growth to a large extent.  The increasing adoption of facial biometrics in various sector such as government, banking and financial sector and others as this biometrics solution is used for ID cards, passport, driving license, health insurance card, and social security cards.

The growing demand for artificial intelligence and big data analytics are driving the global emotion analytics market. In 2015, Kairos acquired IMRSV, a firm specializing in emotion analysis. Along with this acquisition, Kairos has also released Kairos Emotion Analysis API, Kairos Face Recognition API, Kairos Crowd Analytics SDK, and camera-based analytics software. Moreover, Biometrics is playing a major role in emotion analytics market as it supports securing the business operations. For instance, in the automotive sector, the emotion analytics are widely used in hyper-connected cars with emotional intelligence to connect with customers and drivers. With this solution, it helps in increasing road safety and offer best in-car experience to users.

Segmentation of Emotion Analytics Market:

The global emotion analytics market is segmented into type, technologies, solution, end-users, and region. The type is segmented into facial analytics, speech analytics, video analytics, and others. The technologies segment is sub-segmented into artificial intelligence, biometrics and neuroscience, 3D modeling, pattern recognition, records management, and others. The solution segment is sub-segmented into mobile and web application, cloud, and others. The end-users segment is sub-segmented into enterprises, defense and security agencies, commercial, industrial, and others. The market is spanned across regions including North America, Europe, Asia Pacific, and rest of the world.The global Emotion Analytics Market is expected to grow at USD 25 billion by 2023 at a CAGR of ~17% during the forecast period 2017-2023.

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Key Players:

Some of the prominent players in the global emotion analytics market Microsoft Corporation (U.S.), International Business Machines Corporation (U.S.), Apple, Inc. (U.S,), Retinad Virtual Reality Inc. (Canada), Neuromore Inc. (U.S.), Imotions A/S (Denmark), Kairos AR, Inc. (U.S.), Beyond Verbal (Israel), Affectiva (U.S.), Eyris (EmoVu) (U.S.), Adoreboard (U.K.), sensation.io (Germany), iMotions (U.S), RealComm Global LLC (U.S), Lightspeed LLC (U.S.) among others.

Regional Analysis:

The regional analysis of emotion analytics market is studied for regions such as Asia Pacific (China, Japan, and India), North America (the U.S., Mexico, and Canada), Europe (the U.K, Germany), and Rest of the World. North America is one of the leading regions of the world in terms of market share. The emotion analytics market in this region has a huge demand due to the increasing adoption of cloud-based face recognition software in the organization, which is propelling the market growth to a large extent. The emotion analytics market in Europe is expected to witness a rapid growth in the forthcoming period. Whereas, Asia Pacific countries such as China, Japan, and India are emerging emotion analytics market in the globe, which is expected to grow at the highest CAGR during the forecast period.

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Intended Audience:

Emotion analytics companies

Emotion analytics providers

Technical universities

System integrators

Managed Security Service Providers

Professional service providers

Research and development companies

Market research and consulting firms

Solution providers

Technology standards organizations

Technology investors

System Integrators

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