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Emotion detection and recognition is a technology that reads the human facial emotions by using advanced image processing. An emotion recognition and sentiment analysis software can seize human micro-expressions. The software is beneficial primarily for security purposes. Emotion recognition and sentiment analysis technologies have been able to capture a wide range of body languages that remain unnoticed even by humans themselves. Companies have been working on combining refined algorithms with promising image processing techniques that have been developed in the recent years. This approach would help enterprises understand more about how a particular video or an image of a person's face provides insights about his/her thoughts and emotions.

Initially, emotion recognition and sentiment analysis systems were deployed by surveillance departments and law enforcement agencies to detect polygraph and lie tests. Nevertheless, the range of usage of these technologies has been expanding in several industry verticals such as gaming, research, retail, health care, marketing, and media & entertainment. Thus, the need for sophisticated and advanced technologies to standardize emotion detection is increasing worldwide. Growing availability of cognitive services, increasing focus on improvement in the country’s competitive intelligence, expanding surveillance sector, and rising number of applications of the software in numerous industry verticals are driving the emotion recognition and sentiment analysis software market. Other factors such as increasing trend of using the wearable and Internet of things (IoT) technology are also promoting growth of the market. However, high functional requirements and application costs associated with deployment of the technology are major challenges that the market is anticipated to face in the near future. However, growing development of the emotion detection technology and rising adoption among end-users offer immense opportunities to vendors operating in the emotion recognition and sentiment analysis software market.  

The emotion recognition and sentiment analysis software market can be segmented based on component, end-user, industry vertical, enterprise size, and region. In terms of component, the market can be classified into software and solutions. The software segment has been sub-divided into cloud software and on-premise software. The services segment has been sub-divided into managed or outsourced services and professional services. Professional services include consulting, integration & implementation, and maintenance & operations. In terms of end-user, the market has been segmented into commercial, industrial, government, and others (such as personal users). In terms of industry vertical, the emotion recognition and sentiment analysis software market has been segmented into health care, transport & logistics, government & defense, gaming, retail, media & entertainment, and others. Based on enterprise size, the market can be segmented into small- and medium-sized enterprises (SMEs) and large-sized enterprises. The large-sized enterprises segment is estimated to hold the maximum market share throughout the forecast period.

Geographically, the global emotion recognition and sentiment analysis software market has been classified into North America, Europe, Middle East & Africa, Asia Pacific, and South America. The market in North America and Europe is primarily driven by presence of a large number of vendors of emotion recognition and sentiment analysis software. Growth of the market in North America is primarily attributable to growth of the market in the U.S. and Canada, as companies in these countries are investing heavily in enhancing their research and development (R&D) activities so as to come up with differential offerings. The emotion recognition and sentiment analysis software market in Asia Pacific is primarily driven by increase in the adoption of mobile- and web-based applications in the region. Asia Pacific is also expected to offer lucrative growth opportunities to key players operating in the global emotion recognition and sentiment analysis software market in the next few years, due to significant growth in industrialization in the region.

The emotion recognition and sentiment analysis software market is undergoing its developing stage, as companies in the market are developing innovative technologies and profoundly investing in R&D activities. Some of the key players in the global emotion recognition and sentiment analysis software market include Affectiva, Inc., Apple, Inc., Realeyes, Inc., nViso S.A., Sightcorp, Sentiance, Tobii AB., Kairos AR, Inc., and Noldus Information Technology.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Emotion Recognition Sentiment Analysis Software Market