Emotion Detection and Recognition Market – Overview
The global emotion detection and recognition market is estimated to rise at a healthy rate from 2021 to 2031 (forecast period). The global emotion detection and recognition market is likely to be propelled by significant expansion in the internet of things technology, increased adoption of wearable technologies, and a massive increase in smartphone usage. Moreover, technological advancements are expected to assist the global emotion detection and recognition market growth during the forecast period.
Furthermore, expansion in research and development capabilities in speech-based emotion detection systems and an increase in demand for operational excellence are two key factors projected to drive the global emotion detection and recognition market.
Expanding operations in future? To get the perfect launch ask for a custom report
Emotion Detection and Recognition Market – Competitive Landscape
Key players active in the global emotion detection and recognition market include Microsoft (US), Apple (US), NEC (Japan), IBM (US), Cognitec (Germany), Google (US), Affectiva (US), Tobii (Sweden), Elliptic Labs (Norway), NVISO (Switzerland), Intel (US), and Noldus (Netherlands).
To expand their global reach, key market players are pursuing strategies such as alliances, acquisitions, investments, technological innovations, and R&D activities.
SmartEye, the renowned AI-based eye-tracking firm, acquired the emotion detection software startup company Affectiva in June 2021. This merger will hasten the growth and development of software for automotive interior sensing, human factors research, media analytics, and other areas.
Emotion Detection and Recognition Market – Trends and Opportunities
The rising use of wearable devices, which can sense emotions and play a significant role in human-computer interaction and psychological health monitoring, is one of the main factors projected to drive the global emotion detection and recognition market. With greater health consciousness, the use of advanced wearable technologies for personal use as well as in the healthcare industry is increasing. These wearable gadgets are outfitted with a variety of modern sensors that collect, monitor, and analyze a person's health vital signs, and emotional state. For example, in August 2020, Amazon Halo and Amazon Halo Band, a blend of a suite of AI-powered health products and an innovative wrist band, were released to assist consumers in boosting their health and wellbeing. This product monitors the user's activity, body fat, and emotional condition by monitoring the sound of their voice. Likewise, Upmood announced a new device, Upmood Watch, in August 2020 that is explicitly intended for recording heart rate variability (HRV) to show micro-patterns in behaviors and emotions with great precision. Such aspects are anticipated to boost the growth of the global emotion detection and recognition market.
Moreover, strong growth in the internet of things technology is expected to support the global emotion detection and recognition market growth during the forecast period. The internet of things technology makes it easier to detect and react to all devices based on a person's mood, emotion, and actions. Some devices communicate with one another without the need for human interaction, such as sensor input that governs the output of an industrial process at a remote facility. Emotion-sensing technology is progressing from the experimental stage to the commercial stage. As a result, the global emotion detection and recognition market is expected to experience growth during the forecast period.
Request a sample to get extensive insights into the Emotion Detection and Recognition Market
Emotion Detection and Recognition Market – Regional Landscape
North America is likely to witness growth in the worldwide emotion detection and recognition market during the forecast period. The swift development of the internet of things (IoT), the growing trend of wearable devices, and enhanced technology are expected to present enormous prospects for the emotion detection and recognition market in North America. The United States and Canada are likely to contribute to the regional market. Moreover, high government investments and rising demand for enhanced services and security from a variety of business verticals are projected to boost the regional market growth.
The emotion detection and recognition market in Asia Pacific is expected to grow during the forecast period. In the Asia-Pacific region, emerging countries such as China and India are projected to experience an increase in demand for improved technology installations and initiatives to build standardized and effective emotion detection and recognition systems. This is expected to fuel the region's emotion detection and recognition market. Moreover, the regional market is anticipated to benefit from a rising population, advanced technology centers, and the existence of affluent countries like Japan and South Korea.
The emotion detection and recognition market in Europe is anticipated to expand due to massive government investments in security and surveillance infrastructure, increasing awareness, and the adoption of advanced technologies.
This upcoming business intelligence report is intended to be a one-stop market research solution to guide organizations in taking timely and effective decisions for their business growth. The ongoing study is the culmination of our deep expertise on data science methods, combined with an unparalleled understanding of the external environment and analysis of the industries. Each of the reports by TMR aims at offering a detailed scrutiny of the value chain of our current and prospective customers, takes them from identifying value propositions, and subsequently assist their business executives to implement right strategies to create customer value. We believe that creating and sustaining the customer value is the key pivot on which business executives can create profits for their organizations and increase the market shares, continuously and with sustainability.
Each of our touchpoints through which we engage with the organization/enterprise during the primary research enables us to understand the internal environment it operates in and the ways in which the external environment influences its growth.
Always Evolving with Competition
Excellence is built into the DNA of TMR, and all our teams work collaboratively and committedly toward achieving that in whatever they do. From the very first interaction our teams of research analysts have with any interested market participant to the final preparation processes in each of our reports reflects a rigorous understanding of the dynamic industry environment that businesses operate in.
We relentlessly work to be a differentiator in whatever we do in the current era of hypercompetitive global environment. The result of our unceasing focus on excellence is reflected clearly in the insights and guidance we offer to our customers in order to empower them to create brand equity. Our simple yet very powerful underpinning for navigating the competition is to always keep evolving with changing business environments. Our close-kinit team of research analysts not only believe in this simple philosophy but also implement the same.
Constantly Innovating Our Research Methodologies and Models
We do not limit with any specific market research tool or one standard approach for obtaining or analyzing data. Undoubtedly, our report making process is ever-evolving to meet the customer needs and demands supported broadly by a vast knowledge of data science methods that we combine with business acumen our teams have built upon for several years. Evidently, our primary and secondary research data about customers and consumers have shown that we can go to any lengths to obtain them. This is followed by applying next-gen automation tools integrated with human judgement to clear the clutter, ascertain the most relevant and recent qualitative and quantitative insights, and package them in digestible chunks in our reports for our customers.
We Take Pride in No-One-Size-Fits-All Approach
Over the past several years, we have been conducting market intelligence studies across all industries for all types of organizations — big and small, profit and not-for-profit, and Fortune 500 and Unicorns, as we believe that a sound decision making must be based on no-one-size-fits-all approach. Without doubt, each of the organizations regardless of the industry they are in are affected differently by changes in political, economic, socio-culture, legal, ecological, and legal environments. The research models and the value chain analysis process that our analysts employ for conducting the study uphold this approach.
We look at myriad components of internal and external business environment affecting the growth strategies of organizations. Some of the broader aspects that we focus on are:
- Our team of Analysts and Support Teams always strive to see the bigger picture in life cycle stages of any industry
- The Teams focus on obtaining valuable insights into different models of competitive advantage while making an internal environment analysis
- They keep on modifying the value chain analysis processes of organizations to understand on how customer value is created
Some areas of assessing market dynamics that are used in the research models and methodologies adopted by our analysts can be summarized as:
- Corporate and business strategies underlying new brand positioning strategies
- Mapping for strategic planning for business units
- Various metrics for business portfolio analysis, including BCG matrix
- Value chain analysis
These will help create and sustain competitive advantage for our prospects and current customers.
Key focus areas and agenda that underpin and catalyze our primary and secondary research initiatives and endeavors are:
- What are some of the core competencies and distinctive competencies of new entrants and established players in the industry we are analyzing?
- What are some of the branding opportunities that are emerging at a rapid pace?
- What are the major competitive forces and elements of external environment shaping the industry life cycle stages of most organizations?
- Why some competitive strategies are popular than others among leaders in a certain market?
- What customer-based brand equity strategies companies have leveraged in a certain industry or set of related industries in a sector?
- What are some of the key pricing strategies that companies in an industry are implementing for marketing their products internationally?
- Identifying whether market-push or market-pull strategies are more relevant to a certain product or a service?
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.