The global emotional analytics market expected to expand at a CAGR of 15.6% during the forecast period from 2019 to 2027. Emotional Analytics is a next-gen technology and with its futuristic implications it has come under the limelight in business world. This technology is useful for data collection, data classification, data visualization and data analytics. Organizations are leveraging the capabilities of this technology to improve their customer relationship management (CRM). Developers are constantly making improvements in the efficiency and functionality of the software to make it compatible with wide range of software and hardware applications. The propulsion in the demand for emotional analytics market can also be associated to rising adoption of artificial intelligence by multiple organizations. Thus, driving the growth of the emotional analytics market.
Market Synopsis
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Biometrics and Artificial Intelligence to Dominate and Register Maximum Growth throughout the Forecast Period
Based on technology, the global emotional analytics market is categorized into Artificial Intelligence, Biometrics and Neuroscience, 3D Modelling, Pattern Recognition, Records management, and Others (Facial recognition). Biometric and Neuroscience segment dominates the technology segment. This is due to its wide application and huge demand by organizations in the current market scenario. Biometric and Neuroscience followed by Artificial Intelligence is gaining popularity among organizations and is expected to register fastest growth during the forecast period of 2019-2027. This popularity is fuelled by deployment of artificial intelligence technology in various organizations and thus garners huge market share in global emotional analytics market.
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North America Dominates; Asia Pacific Touted to Register Significant Growth during the Forecast Period
North America appeared as the market leader of the global emotional analytics market trailed by Asia Pacific and Europe respectively. North America is the fastest growing region of the world with highest revenue contribution. This is due to emergence of lots of advanced technologies and its implementation by various organizations. North America is the world’s largest region to implement cloud-based facial recognition technology and artificial intelligence. In contrast, Asia Pacific is set to register the highest growth rate during the forecast period of 2019-2027. The implementation of biometrics and facial recognition technologies by the government and defense & safety agencies are bolstering the market growth. Asia Pacific to be followed by Europe and Rest of the World.
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Some of the leading manufacturers profiled in the study include Google, Inc., Apple, Inc., Facebook, Inc., Microsoft Corporation, IBM Corporation, Kairos AR, Inc., Affectiva Inc., Beyond Verbal, Eyris (Emovu), iMotions A/S, sensation.io, RealComm Global LLC, Neuromore Inc., Lightspeed LLC, Retinad Virtual Reality Inc. among others. Big players are such as Apple, Inc., Google, Inc. etc. are rapidly acquiring smaller players in order to gain a competitive edge. Despite the fact emotional analytics is a niche market, many players are investing in this technology in order to better understand the customers’ emotions and to make strategies accordingly to satisfy them.
Historical & Forecast Period
This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. CAGR (Compounded Annual Growth Rate) for each segment and sub-segment is calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The emotional analytics market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global emotional analytics market based on technology, application, type, solutions, end-use vertical, and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Million |
| Segmentation |
Technology Segment (2017–2027; US$ Mn)
• Artificial Intelligence
• Biometrics and Neuroscience
• 3D Modelling
• Pattern Recognition
• Records management
• Others (Facial recognition)
|
|
Application Segment (2017–2027; US$ Mn)
• Customer Experience Management
• Competitive Intelligence
• Sales and Marketing Management
|
|
Type Segment (2017–2027; US$ Mn)
• Text
• Facial
• Speech
• Video Analytics
|
|
Solution Segment (2017–2027; US$ Mn)
• API & SDK
• Mobile and Web Application
• Cloud
|
|
End User Segment (2017–2027; US$ Mn)
• Enterprises
• Defense and Security agencies
• Commercial
• Industrial
• Others (personal users)
|
|
Geography Segment (2017–2027; US$ Mn)
• North America (U.S. and Rest of North America)
• Europe (U.K., Germany, France, and Rest of Europe)
• Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
• Rest of World (Middle East & Africa (MEA), Latin America)
|
Key questions answered in this report
- Worldwide market value of emotional analytics market in 2017 and 2018
- Estimated forecast and market projections up to 2027
- Which is largest regional market for emotional analytics?
- Which application segment has the highest penetration of emotional analytics?
- Which are the key trends driving the global emotional analytics market growth?
- Who are the leading companies in emotional analytics market?
- What are the key strategies adopted by the leading emotional analytics developers?
