Pune, July 31, 2024 (GLOBE NEWSWIRE) -- Emotion Detection and Recognition Market Size:
“The SNS Insider report indicates that the Emotion Detection and Recognition [EDR] Market size was valued at US$ 32 billion in 2023 and is expected to reach US$ 129 billion by 2032, growing at a CAGR of 16.82% over the forecast period of 2024-2032.”
Market Analysis
Emotion detection and recognition technologies are experiencing significant growth, largely due to great progress in the field of machine learning (ML) and artificial intelligence. The growing trend of biometric technologies and rising demand for voice and gesture-based navigation systems are major factors driving the vehicle access control market. Rapid IoT device deployment, the increase in the use of wearable technologies and high penetration smartphone adoption act as further drivers for growth. They allow for accurate monitoring of human emotions, with advanced computer vision and deep learning algorithms. Modern emotion detection systems are capable of recognizing fundamental emotions like happiness, sadness, or anger with over 90% accuracy as an example. The algorithms use the latest face detection techniques to scan for as many landmarks as 68 points per individual and can detect real-time with a speed of 33 milliseconds/individual subtle change in facial expressions.
In the past recent years, emotional intelligence in human-machine interactions has distinguished itself as a field of interest enhancing emotive feelings and emotions to be detectable and compatible with robotic applications addressing gaming. Machines can pick up emotions from speech with an accuracy rate anywhere between 75 to 85% depending on the depth and quality provided. The features of micro-expression detection are implemented with advanced algorithms that can capture the fleeting expression within 1/25~1/15 seconds. The growth of these markets is driven by factors such as the escalating demand for voice-based emotion analytics, and a global surge in AI and ML technologies across IoT applications. Emotion recognition machine learning models are trained on large datasets and dataset sizes can exceed 100,000 labelled images or audio clips with wearable technologies capable of monitoring hundreds of physiological signals per second to determine emotional states.
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Major Players Analysis Listed in this Report are:
- IBM CORPORATION
- Noldus Information Technology BV
- Affectiva
- SkyBiometry
- Sentiance NV
- Kairos AR, Inc.
- NVISO SA
- Intel Corporation
- Realeyes
- Sightcorp
- Other Players
Recent Developments
- January 2023, nViso SA (NVISO), a leading player in Human Behavioural Analytics AI, showcased its Neuro SDK at CES2023. NVISO has expanded its range of Human Behavioural AI Apps, integrating features such as Action Units, Body Pose, and Gesture Recognition with its BrainChip Akida neuromorphic processing platform.
- In April 2022, video communication service Zoom introduced an algorithm with the capability of reading human emotions through AI. This is because it represents the “sentiment” of a business deal.
Emotion Detection and Recognition Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 32 Bn |
| Market Size by 2032 | US$ 129 Bn |
| CAGR | CAGR of 16.82% From 2023 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • Increasing Adoption of AI and ML • Rising Demand for Human-Computer Interaction |
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Segment Analysis
Based on Tools, the Speech/Voice recognition segment held a considerable revenue share 42% in 2023. The tool is very successful because the technology does quick good mechanistic work. Facial expression and identification as contactless biometrics is important to the provision of both excellent security and border control primitives. The growth of the market is driven by advancements in facial recognition technology that offer high accuracy and performance, along with stable implementation across a range of operating systems.
On the basis of components, the software segment held in highest revenue 65% in 2023. It is because of this bias in favor of on-premises deployments and the rise in the adoption of emotion recognition across devices as well as systems. Due to its applicability in real-time emotion analysis using IoT-based technologies revolving around the utilization of software solutions for diverse use-cases such as virtual assistants like Apple Siri, emotional tracking emerged as beneficial.
By End-use Vertical, The healthcare and life sciences segment drive the market in 2023 with the highest revenue contribution, EHR technologies based on emotion recognition are also used to enhance the effectiveness of data capture in Electronic Health Record (EHR) systems and boost customer experiences across multiple sectors. Its ability to beautify cross-industry use cases like engaging a response through personal answering and operational efficiency has made many sectors, such as automotive & security embrace it.
Emotion Detection and Recognition Market Key Segmentation:
By Component
- Software
- Services
By Application
- Surveillance and Monitoring
- Marketing and Advertising
- Robotics and eLearning
- Medical Emergency
- Others
By Tools
- Facial Recognition
- Speech and Voice Recognition
- Gesture & Posture Recognition
By Technology
- Biosensors technology
- Machine Learning
- Pattern Recognition
- Feature Extraction
- Natural Language Processing
By End-use Vertical
- BFSI
- Healthcare & Life Sciences
- IT & Telecommunication
- Retail and eCommerce
- Education
- Media and Entertainment
- Automotive
- Others
Regional analysis
Globally, North America is the largest market for Emotion Detection and Recognition which further accounts for a high share 32% in 2023. This growth is attributed to a strong presence of major players in the region, extensive R&D, and other strategic investments. The United States and Canada are significant contributors due to advanced technology infrastructure in countries combined with high adoption of EDR solutions early on.
Asia Pacific is expected to witness significant growth owing to the surge in the need for advanced solutions and AI-powered. The growth is likely to be driven by India and China via their matured technical base, and huge consumer markets among other qualities. Strong growth in the region is also backed by vibrant technical centers and a large base of enterprises embracing new technologies. Europe is estimated to offer opportunities for steady growth on the back of propelling investments by governments in security and surveillance infrastructure. This aids in the growth of the EDR market as more and better technologies are likely to be implemented for public awareness.
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Key Takeaways
- The market growth is attributed to the growing adoption of biometric technologies and the increasing need for better human-computer interaction.
- North America as the leader in this market is attributed to its substantial research and development funding and strategic investments, while Asia Pacific will emerge with high CAGR rates due to its developing tech infrastructure.
- The report offers a deep dive into trends as well as recent developments that are likely to influence the demand for emotion detection and recognition technologies over the forecast period.
- This report provides a detailed analysis of the EDR market, helping stakeholders make informed decisions and strategize for future growth.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
5. Impact Analysis
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Emotion Detection and Recognition Market Segmentation, by Component
10. Emotion Detection and Recognition Market Segmentation, by Application
11. Emotion Detection and Recognition Market Segmentation, by Tools
12. Emotion Detection and Recognition Market Segmentation, by Technology
13. Emotion Detection and Recognition Market Segmentation, by End-use Vertical
14. Regional Analysis
15. Company Profile
16. Competitive Landscape
17. Use Case and Best Practices
18. Conclusion
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