The Emotion detection and recognition market is set to witness steady growth during 2021-2031. One of the major growth drivers for the emotion detection and recognition market happens to be the rising adoption of Internet of Things, Artificial Intelligence, Machine Learning, and Deep Learning technologies across the globe.
Moreover, growing demand for emotion detection and recognition software system in the automotive industry is further anticipated to boost the market growth for emotion detection and recognition solutions.
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What is Driving Demand for Emotion Detection and Recognition?
Increasing adoption of wearable devices happens to be one of the primary reasons driving the market growth for emotion detection and recognition. Wearable devices such as smart watches are equipped with ECG monitors and can measure SPO2, electrocardiograms and communicate the readings to physicians.
Owing to such developments, there has been rise in demand for emotion detection and recognition software solutions. Furthermore, emotion detection and recognition software helps in improving computer and human interfaces while offering enhanced feedback mechanism actions taken from the users by computers.
Facial Expression Recognition is Expected to Grow at the Highest CAGR of the Emotion Detection and Recognition Market by Software
Facial recognition software is an essential part of the emotion detection and recognition system as it allows the identification of responses or emotions from expressions on the face and helps in generating real-time results. Owing to its benefits, there has been rise in implementation of facial recognition software across various application areas and hence the segment is projected to grow at a significant rate over the forecast period.
US and Canada Emotion Detection and Recognition Demand Outlook
U.S. happens to be one of the largest markets for emotion detection and recognition across the globe. The growth in U.S. is attributed to the presence of established players such as NEC Global, IBM Corporation, Intel Corporation, Microsoft Corporation, and Apple, Inc., among others in the region.
Moreover, US happens to be the most rapidly changing and competitive market across the globe. Besides, the region is also anticipated to adopt new technologies at a faster pace as compared to other countries in the world. Apart from this, North America region happens to be a hub to one of the largest markets for IoT in both industrial and consumer domains.
Europe Demand Outlook for Emotion Detection and Recognition
The growing need for advanced marketing tools happens to be one of the key factors driving the demand for emotion detection and recognition across the region. The growth can be attributed to the growing need for personalized and enhanced customer experience.
Furthermore, the rising number of connected wearable devices is on the rise among consumers in the countries like Germany, Italy, France, and UK in the Europe region which has further enabled the market for emotion detection and recognition to grow at a substantial rate over the forecast period.
Who are the Key Manufacturers and Suppliers of Emotion Detection and Recognition?
Some of the leading providers of emotion detection and recognition include
- NEC Global
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- Apple Inc.
- Gesturetek
- Noldus Technology
- Google Inc.
Emotion Detection and Recognition Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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Emotion Detection and Recognition Demand Analysis by Category
By Component:
- Software
- Services
By Software:
- Facial Expression Recognition
- Biosensing Solution
- Speech and Voice Recognition
By End-use Industry:
- BFSI
- Automotive
- Telecommunications
- Retail and eCommerce
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & pacific
- Middle East & Africa
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