Emotion Detection and Recognition Industry Increasing Demand, Emerging Trends, Growth Opportunities and Future Scope
Rising need for accretion of speech-based emotion detection systems to analyze emotional states, Adoption of IoT, AI, ML, and deep learning boost market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, September 28, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Emotion Detection and Recognition Industry Increasing Demand, Emerging Trends, Growth Opportunities and Future Scope .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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Significant surge in the internet of things (IoT), rise in popularity of wearable technology, remarkable growth in the internet penetration, and increase in the use of smartphones among people across the globe are expected to drive the growth of the global emotion detection and recognition market. On the other hand, extortionate functional requirements and cost of application are expected to hinder the growth of the market to some extent. However, extensive adoption of cloud-based technology is predicted to create ample opportunities for the growth of the industry.
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The report offers a detailed segmentation on the global emotion detection and recognition market based on software tools, applications, technology, end-user, and region.
Based on end-user, the commercial segment held the majority market share in 2020, holding more than one-third of the total market. The retail segment, on the other hand, is anticipated to exhibit the fastest CAGR of 20.4% during the forecast period.
Based on software tool, the facial expression and emotion recognition segment held the largest market share in 2020, garnering more than three-fifths of the total market. The gesture and posture recognition segment, on the other hand, is expected to cite the fastest CAGR of 20.6% during the forecast period.
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Based on region, the market across North America held the lion’s share in 2020, garnering nearly two-fifths of the total market. The Asia-Pacific region, on the other hand, is predicted to cite the fastest CAGR of 20.6% during the forecast period.
The key players analyzed in the global emotion detection and recognition industry report include Affectiva, CrowdEmotion, IBM Corporation, Kairos AR, Inc., Noldus Information Technology bv, NVISO SA, Realeyes, Sentiance NV., Sightcorp, and SkyBiometry.
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Key findings of the study
• By software tool, the facial expression & emotion recognition segment accounted for the largest emotion detection and recognition market share in 2020.
• By region, North America generated highest revenue in 2020.
• By application, the marketing and advertising segment generated the highest revenue in 2020.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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