Emotion Detection and Recognition Market, By Technology (Bio Sensors Technology, Pattern Recognition, NLP, Machine Learning, Feature Extraction), Software Tool (Voice Recognition, Facial Expression), Service, Application and End User – Global Forecast 2023
Emotion Detection and Recognition Market
Development of emotion detection and recognition platforms have allowed businesses and individuals to understand and analyze complex human emotions through facial patterns. Such technologies are quickly gaining popularity since they hold the potential of revolutionizing the way of studying human behavior. In addition, emotion detection and recognition is also gaining traction among enterprises across the world. As per the latest report published by Market Research Future (MRFR), the global market for emotion detection and recognition will stand at around USD 65 Bn by the end of 2023. Increasing application of emotion detection and recognition in a wide range of end-use industries is a key factor driving the market.
Advances in artificial intelligence (AI) has further bolstered emotion detection and recognition platforms. Emotion recognition bots incorporated with AI are becoming increasing common. Such bots can be used for both non-security and security purposes. Emotion detection and recognition is continuously evolving, which enables there use in other electronic devices such as smartphones, surveillance camera. Having emotion detection and recognition features in modern electronic devices can assist users in achieving their various objectives. In addition, such technologies can greatly enhance the capabilities of electronic systems that are commonly used (watches, smartphones and fitness trackers). Many of the modern electronic apparatus are on the verge of becoming active participant in influencing and improving the content that is being consumed on a daily basis.
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Latest Industry Trend and News:
Affectiva has recently unveiled a next-gen automotive AI technology for monitoring vehicle occupants. The unique technology is expected to improve driver safety and help in overcoming issues of distracted driving.
AvatarMind, developers of the iPal® Robot, an interactive humanoid platform that is specifically targeted towards children as a social companion, recently entered into a partnership with AI specialist Eyeris. The partnership will be focused towards building upon iPal Robot platform, particularly the human interaction capabilities by harnessing Eyeris’ face analytics and emotion recognition expertise.
Emotion Detection and Recognition Market – Segmental Analysis
MRFR in its report has offered an exhaustive segmental analysis of the market based on software tool, application, end user, services and technology. By software tool, the market has been segmented into facial expression recognition, bio sensing software tools and apps and speech and voice recognition. By application, the market has been segmented into marketing & advertising, media & entertainment and law enforcement, surveillance & monitoring. By end user, the market has been segmented into commercial, defense and security agency, industrial, enterprises and other. By services the market has been bifurcated into consulting & integration and storage & maintenance. By technology, the market is segmented into pattern recognition, natural language processing (NLP), feature extraction and 3D modelling, bio sensors technology and machine learning. The bio sensors technology segment is projected to exhibit a strong CAGR over the review period. This in mainly owing to fast incorporation of bio sensors in various healthcare devices such as EEG, ECG, MRI, GSR, EMG, eye tracking etc. Moreover, popularity of wearable bio sensors is also on the rise due to its growing application in defense, healthcare and military.
Emotion Detection and Recognition Market – Competitive Dashboard
Skybiometry (Lithuania), Affectiva (U.S.), Eyeris (U.S.), Emotient, An Apple Company (U.S.), Noldus (Netherlands), Kairos Ar. Inc. (U.S.), Realeyes (U.K.), nViso. (Switzerland), Sentiance (Belgium), and Sightcorp (Netherlands) are some leading players operating in the market.
The global market for emotion detection and recognition has also been segment into four key regions including Europe, North America, Asia Pacific and Rest of the World (RoI). Amongst these, North America is expected to remain the most attractive market for emotion detection and recognition in 2017 and beyond. Presence of leading market players and increased consumer interest in AI technology driven products is partly supporting the growth of the market in North America.
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