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Emotion Detection And Recognition Global Market Report 2022

Emotion Detection And Recognition Global Market Report 2022

  • September 2022
  • 175 pages
  • ID: 6319249
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the emotion detection and recognition market are Affectiva, Beyond Verbal, Noldus Information Technology, Sentiance, Sightcorp, Realeyes, CrowdEmotion, Kairos AR Inc, nViso SA, SkyBiometry, Cognitec Systems, Cipia Vision Ltd, iMotions, Elliptic Labs and Kairos.

The global emotion detection and recognition market is expected to grow from $18.93 billion in 2021 to $21.84 billion in 2022 at a compound annual growth rate (CAGR) of 15.40%. The emotion detection and recognition market is expected to grow to $39.03 billion in 2026 at a compound annual growth rate (CAGR) of 15.61%.

The emotion detection and recognition market consist of sales of emotion detection and recognition solutions by entities (organizations, sole traders, and partnerships) that refer to a technique that uses technologies such as facial recognition, speech and voice recognition, machine learning, biosensing, and pattern recognition to detect and recognize human emotions. Emotion detection and recognition (EDR) can be used in making better decisions, improving focus and performance at work, managing stress, and adopting healthier and more productive working styles.

The main software tool of emotion detection and recognition are facial expression and emotion recognition, gesture and posture recognition, and voice recognition.Facial Emotion Recognition (FER) is a technology that analyses facial expressions in static images and videos to reveal information about an individual’s emotional state.

The technologies used are pattern recognition network, machine learning, natural language processing and other technologies. The main end-users included are commercial, entertainment, retail and other end users.

North America was the largest region in the emotion detection and recognition market in 2021. The regions covered in emotion detection and recognition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The emotion detection and recognition market research report is one of a series of new reports that provides emotion detection and recognition market statistics, including emotion detection and recognition industry global market size, regional shares, competitors with an emotion detection and recognition market share, detailed emotion detection and recognition market segments, market trends and opportunities, and any further data you may need to thrive in the emotion detection and recognition industry. This emotion detection and recognition market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The increasing IoT applications and adoption of wearable devices are expected to propel the growth of the emotion detection and recognition (EDR) market.The IoT applications and adoption of wearable devices are increasing due to various reasons such as a shift towards digital processes, productivity with reduced cost and efficiency, collection of accurate data, analysis, and others.

This rising adoption of IoT and wearable devices will result in the use of emotion detection and recognition as EDR can be integrated into IoT applications and wearable devices to capture physiological, and behavioral data and responses to analyze and create automated responses based on emotion.This will help derive better decisions and improve the performance and functionalities of a business or product.

For instance, according to the IoT statistics published in May 2022 by an independent review site DataProt, the number of active IoT devices is expected to surpass 25.4 billion by 2030. By 2025, 152,200 IoT devices will connect to the internet every minute. By 2025, Internet of Things solutions will have the potential to generate $4-11 trillion in economic value. IoT technology has improved the efficiency of 83% of organizations. It is predicted that global IoT spending will reach $15 trillion between 2019 and 2025. These statistics indicate that the IoT applications are increasing globally. Thus, the increasing IoT applications and adoption of wearable devices will drive the growth of the emotion detection and recognition (EDR) market.

The wide use of emotion detection and recognition (EDR) in smart cars is a key trend gaining popularity in the emotion detection and recognition market.Smart cars are vehicles equipped with advanced electronics, technology, and software to improve mobility and safety.

EDR is used in smart cars to recognize the emotions of the drivers such as from drowsiness detection for driver safety, to identifying whether the driver is attentive or distracted while driving, and building a highly personalized and intimate experience.An EDR software system installed in a device within the car collects data on driver behavior through real-time facial analysis and alerts the driver, resulting in ensuring safety.

For instance, Smart Eye, a Swedish AI company offers Interior Sensing solutions based on Emotion AI of its subsidiary Affectiva. This solution incorporates a camera and sensors in the car that capture data based on facial analysis of the driver to enable road safety and enhance the mobility experience.

In January 2022, Raydiant, a US-based company that offers cloud-based digital signage technology to retail businesses and restaurants acquired Sightcorp for an undisclosed amount.With this acquisition, Raydiant’s experience management platform will use Sightcorp’s AI-powered analytics software to offer anonymous in-store screen engagement analytics for brands to increase sales and deliver optimized content while protecting consumer privacy.

Sightcorp is a Netherland-based company offering AI-powered emotion recognition software.

The countries covered in the emotion detection and recognition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

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