Pune, Nov. 05, 2022 (GLOBE NEWSWIRE) -- According to a report by JC Market Research, the Emotional intelligence market was valued at USD 8680 Million in 2021.The global emotional intelligence market is expected to grow at a CAGR of 25.2% during the forecast period from 2022 to 2031. The market is driven by the increasing awareness among organizations about the benefits of emotional intelligence.
Emotional intelligence is the ability to identify, understand, and manage emotions. It helps individuals in achieving their goals and improving their performance. There are various applications of emotional intelligence, such as in human resource management, customer relationship management, sales and marketing, and leadership development.
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Emotional intelligence is used to assess an individual's personality, emotions, and behavior. It helps organizations to identify the training and development needs of employees. It also helps in reducing workplace stress and improving workplace communication.
Segmentation:
The emotional intelligence market is segmented based on component, application, end-user, and geography.
By component, the market is classified into software and services. The software segment is expected to grow at the highest CAGR during the forecast period. The emotional intelligence software includes tools for assessment, coaching, training, and feedback. The services segment includes consulting, support, and maintenance services.
By application, the emotional intelligence market is segmented into human resource management, customer relationship management, sales and marketing, and leadership development. The human resource management application is expected to grow at the highest CAGR during the forecast period. Emotional intelligence is used in human resource management for employee selection, training and development, and performance management.
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By end-user, the emotional intelligence market is classified into large enterprises and small and medium enterprises. The large enterprises segment is expected to grow at the highest CAGR during the forecast period. Large enterprises have a wide customer base and a large number of employees. They are using emotional intelligence to enhance their customer experience and improve employee productivity.
By Geography, the emotional intelligence market is segmented based on geography into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest market share during the forecast period. The region has a well-developed economy and is home to some of the major players in the emotional intelligence market. The region is also witnessing a high adoption of emotional intelligence solutions and services.
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Key Players
IBM Corporation, SAP SE, Oracle Corporation, Salesforce.com, Inc., Microsoft Corporation, Google LLC, HubSpot, Inc., Adobe Systems Incorporated, and Workday, Inc.
By component
- Software
- Services
By application
- Human resource management
- Customer relationship management
- Sales and marketing
- Leadership development
By end-user
- Large enterprises
- Small and medium enterprises
By Geography
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Key Players
- IBM Corporation
- SAP SE
- Oracle Corporation
- Salesforce.com Inc.
- Microsoft Corporation
- Google LLC
- HubSpot Inc.
- Adobe Systems Incorporated
- Workday Inc.
