Emotion AI Market by Worldwide Industry Trends at a CAGR of 22.7% by 2032
The global emotion AI market is expanding rapidly due to factors such as a substantial growth in AI and ML technologies
WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 21, 2024 /EINPresswire.com/ — The global ๐๐ฆ๐จ๐ญ๐ข๐จ๐ง ๐๐ ๐๐๐ซ๐ค๐๐ญ was valued at $1.8 billion in 2022, and is projected to reach $13.8 billion by 2032, growing at a CAGR of 22.7% from 2023 to 2032. Emotion AI is a type of AI that analyses, propagates, and acknowledges human emotions. It is also known as affective computing or affective AI. It concentrates on facial movement analysis, voice emotion AI, sentiment analysis, and natural language processing. Emotion AI provides potential benefits for businesses across various domains. It can study emotions and behavior patterns to develop customized experiences. It can recommend TV shows and movies as per user’s preferences and emotional state. Emotion AI can assist streaming services to analyze customer feedback and complaints which improve their services.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ (๐๐๐ญ ๐ ๐ฎ๐ฅ๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง ๐๐๐ – 257 ๐๐๐ ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/request-sample/A231628
Substantial growth in AI and ML technologies, the increase in adoption of biometrics and facial recognition and surge in the usage of emotion detection solutions in several industries are the major factors that drive the growth of the global Emotion AI market. However, the high cost of application and development, and data storage and management hamper market growth. Furthermore, integration in IoT-based technologies and expansion of wearable devices in various applications creates ample opportunities for the emotion AI market.
Based on enterprise size, the large enterprises segment accounted for the largest share in 2022, contributing to around two-thirds of the emotion AI market revenue and is estimated to rule the roost throughout the forecast timeframe. This is because emotion AI solutions are increasingly deployed in these organizations. These factors further drive the demand for this segment in the global market. However, the small and medium-sized enterprises segment is expected to portray the largest CAGR of 24.7% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. The growth of this segment is mainly driven by the cost-efficient solutions provided by various organizations.
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ : https://www.alliedmarketresearch.com/emotion-ai-market/purchase-options
Based on region, the North America segment held the highest market share in terms of revenue in 2022, accounting for more than one-third of the emotion AI market revenue. The region’s robust industrial sector, including manufacturing, automotive, and logistics, has been an early adopter of emotion AI, which is further anticipated to propel the growth of the market in this region. However, Asia-Pacific is expected to witness the fastest CAGR of 25.9% from 2023 to 2032 and is likely to enhance the market growth during the forecast period. As the key players are investing heavily in automation and emotion AI to enhance productivity, efficiency, and address labor shortages are expected to provide lucrative growth opportunities for the market in this region, which is expected to provide lucrative growth opportunities for the market in this region.
๐๐ก๐ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ฉ๐ซ๐จ๐๐ข๐ฅ๐๐ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐
Emotibot, IBM Corporation, Apple, Inc., Microsoft Corporation, Affectiva, Cogito Corporation, NuraLogix Corporation, Cipia Vision Ltd., Realeyes, NVISO
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎโ๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-for-customization/A231628
Based on application, the retail and e-commerce segment held the highest market share in 2022, accounting for around one-fourth of the emotion AI market revenue and is estimated to maintain its leadership status throughout the forecast period. The increase in demand for personalized content recommendations in this industry further creates lucrative opportunities for the global market. However, the media and entertainment segment is projected to manifest the highest CAGR of 28.2% from 2023 to 2032. Rise in the integration of facial recognition and gesture recognition techniques in these industries is further expected to propel global market growth.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A231628
Based on component, the software segment held the highest market share in 2022, accounting for more than two-thirds of the emotion AI market revenue and is estimated to maintain its leadership status throughout the forecast period. The surge in technological breakthroughs in several industries has proliferated numerous opportunities for the software segment in the market. However, the service segment is expected to portray the largest CAGR of 25.4% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. As emotion AI services are increasingly implemented in various industries.
๐๐ญ๐ก๐๐ซ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
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David Correa
Allied Market Research
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