Emotion Detection and Recognition (EDR) Market By Industry Research, Supply, Size, Share and Prospects 2021-2030

In a recently published report, Emotion Detection and Recognition (EDR) Market report for till 2030. The 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 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 regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention 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) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst 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 Detection and Recognition (EDR) Market products.

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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Global Emotion Detection and Recognition (EDR) Market is valued approximately at USD 17.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 18% over the forecast period 2020-2027. Emotion detection and recognition, often abbreviated as EDR, is a technique used for assessing the human emotions through the integration of several technological capabilities, such as facial recognition, biosensing, speech and voice recognition, pattern recognition, and machine learning. Detecting and recognizing human emotions hold immense significance during the interaction process among the human and machine communication systems. This technique not only enhances the machine and human interface, but also improves the feedback process action adapted by the machines from the users, which may drive the adoption of EDR systems.

Moreover, the rise in IoT application and adoption of wearable devices, rising need for advanced marketing tools, and increasing usage in smartphones are the few factors responsible for the high CAGR of the market over the forecast period. According to the International Data Corporation’s (IDC) Worldwide Quarterly Wearable Device Tracker, the wearable device’s shipments were estimated at 305.2 million units in 2019, which is an increase of 71.4% from 2018 which holds almost 178.0 million-unit shipment. Also, the IDC predicted that the total shipment of wearable devices around the world will grow to nearly 500 million units by the year 2023, resulting in a compound annual growth rate (CAGR) of 22.4%. This exceptional growth was majorly witnessed by the proliferation of hearables that captures around 55.3% share of the entire market. This, in turn, is expected to create huge demand for Emotion Detection and Recognition (EDR) all over the world. However, the high cost of application along with the data security & privacy concern are the major factors restraining the market growth over the forecast period of 2020-2027.

The regional analysis of the global Emotion Detection and Recognition (EDR) market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing investment & funding on Internet of Things (IoT) technology, along with the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the increasing popularity of wearable technology, along with the rapidly growing demand for smartphones in developing nations, such as China and India, would create lucrative growth prospects for the Emotion Detection and Recognition (EDR) market across the Asia-Pacific region.

Major market player included in this report are:
Affectiva Inc.
Emotibot Technologies Limited
iMotions A/S
Noldus Information Technology
Kairos AR, Inc.
Nemesysco Ltd.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Software & Services:
Software (Facial Recognition, Speech and Voice Recognition, etc.)

By End-User Vertical:

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Emotion Detection and Recognition (EDR) Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

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Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Emotion Detection and Recognition (EDR) Market, by Region, 2018-2027 (USD Billion)
1.2.2. Emotion Detection and Recognition (EDR) Market, by Software & Services, 2018-2027 (USD Billion)
1.2.3. Emotion Detection and Recognition (EDR) Market, by End-User Vertical, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Emotion Detection and Recognition (EDR) Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Emotion Detection and Recognition (EDR) Market Dynamics
3.1. Emotion Detection and Recognition (EDR) Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Emotion Detection and Recognition (EDR) Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Emotion Detection and Recognition (EDR) Market, by Software & Services
5.1. Market Snapshot
5.2. Global Emotion Detection and Recognition (EDR) Market by Software & Services, Performance – Potential Analysis
5.3. Global Emotion Detection and Recognition (EDR) Market Estimates & Forecasts by Software & Services 2017-2027 (USD Billion)
5.4. Emotion Detection and Recognition (EDR) Market, Sub Segment Analysis
5.4.1. Software (Facial Recognition, Speech and Voice Recognition, etc.)
5.4.2. Services

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