Global Emotion Detection and Recognition Market (2022 to 2027) – Growing Partnerships and Expanding Ecosystems Provide Opportunities – ResearchAndMarkets.com

The “Global Emotion Detection and Recognition Market with COVID-19 Analysis, By Component (Software [Facial Expression Recognition, Speech & Voice Recognition]Services), Scope, End User, Vertical and Region – Forecast to 2027″ has been added to the report from ResearchAndMarkets.com offer.

The global emotion detection and recognition market is expected to grow from USD 23.6 billion in 2022 to USD 43.3 billion by 2027, at a compound annual growth rate (CAGR) of 12.9% during of the forecast period.

Major factors driving the growth of the market include growing need for accretion of speech-based emotion detection systems to analyze emotional states, adoption of IoT, AI, ML and deep learning technologies across the globe, growing demand in the automotive AI industry, growing need for high operational excellence, and growing need for socially intelligent artificial agents.

By Software, Biosensing Solutions and Applications Segment to Hold Largest Market Size in 2022

Biosensing solutions and applications collect human gestures using sensors, such as electrocardiography (ECG), electroencephalography (EEG), electromyography (EMG), eye tracking sensors and wearable devices. These software tools convert the collected inputs into mathematical form and interpret them for various applications, which are used in e-learning systems, law enforcement sectors (applications, such as lie detection and other threat detection) and healthcare.

Using biosensing software tools and applications to analyze the growing inputs of increasing adoption of biosensors, such as wearable devices, can be a game-changer for this particular market.

Asia-Pacific will register the highest growth rate during the forecast period

Asia-Pacific (APAC) has witnessed advanced and dynamic adoption of new technologies and is expected to register 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 witness high growth rates in the emotion detection and recognition market.

End users, such as industrials, commercials and enterprises, are expected to adopt the emotion detection and recognition solutions at the highest rate in the region. Businesses operating in the APAC region would benefit from the flexible economic conditions, government policies driven by industrialization, as well as increasing digitalization, which is expected to have a significant impact on the business world.

Market dynamics

Drivers

  • Accretion of speech-based emotion detection systems to analyze emotional states

  • Adoption of IoT, AI, ML and Deep Learning technologies worldwide to increase demand

  • Growing need for socially intelligent artificial agents

Constraints

  • High production cost of emotion detection and recognition systems

  • Oligopoly in the development of voice and speech recognition technologies using neural networks restricting their use for cloud-based services

Opportunities

  • Increase government initiatives to leverage the benefits of emotion detection and recognition technology

  • Growing Demand in Automotive AI Industry

  • Develop partnerships and expand ecosystems

Challenges

  • Complex systems for emotion recognition

  • Lack of awareness, knowledge and technical skills among IT experts in an organization

  • Privacy Threat and Data Breach

Companies cited

  • affective

  • Apple

  • Ayonix

  • Beyond the verbal

  • Cognitec

  • CrowdEmotion

  • Elliptical Laboratories

  • Eyeris

  • Gesturetek

  • GIPHY

  • Google

  • IBM

  • iMotions

  • Intel

  • Kairos

  • Microsoft

  • NEC

  • Noldus

  • Number

  • NVISO

  • Energetic Buddies

  • PointGrab

  • Pyreos

  • Feeling

  • Sightcorp

  • Sony depth sensing solutions

  • Tobi

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