Worldwide Emotion Analytics Market to Grow at a CAGR of 82.9% to Aggregate $1,711.0 Million by 2022
Increasing demand for videos, biometric sensors, artificial intelligence (AI), and mobile & web applications is expected to drive the emotion analytics market. AI is the leading technology which is expected to grow at a CAGR of 83.9% during the forecast period and will drive the worldwide emotions analytics market to reach $1,711 million by 2022.
Bangalore, India , April 3, 2017 (Newswire.com) - According to Infoholic Research, the emotion analytics market has given great confidence to numerous companies to detect, understand and analyze their customers across several industries. Some of the major technologies implemented by industries are AI, biometrics & neuroscience, and 3D modelling that are used to quantify the emotions in digital media in the form of images, video, audio, and text. Natural Language Processing (NLP) is one of the techniques used to extract emotions online on social media and on any enterprise blogs.
The human emotions can be analyzed through facial analytics, speech analytics, and video analytics. Generally, facial analytics holds the major market share and is expected to continue due to the need of the organizations to know the customer perception towards their brands. Facial expressions are better analyzed in three ways – tracking of facial electromyographic activity (FEMG), live observation & manual coding of facial activities, and automatic facial expression analysis with computer-vision algorithms. These techniques are used to identify human facial emotions through macro- & micro-expressions and subtle expressions.
"The emotion analytics market is growing at a rapid pace due to huge implementation of APIs & SDKs by mobile and web application developers. API & SDK, which is considered the backbone of emotion analytics market, is expected to grow rapidly and reach a huge market size by 2022. This is due to the increase in demand for facial recognition software and mobile & web applications across the globe."
Jaydeep Bhattacharjee, Group Head at Infoholic Research
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“The emotion analytics market is growing at a rapid pace due to huge implementation of APIs & SDKs by mobile and web application developers. API & SDK, which is considered the backbone of emotion analytics market, is expected to grow rapidly and reach a huge market size by 2022. This is due to the increase in demand for facial recognition software and mobile & web applications across the globe.” – Jaydeep Bhattacharjee, Group Head at Infoholic Research
Speech analytics is one of the types of emotion analytics that detects human emotions, which is mainly used in call centers to understand the customer reactions and quantify them accordingly. Video analytics is chiefly used in media & entertainment and is estimated to hold the significant market share of 29.6% by 2022.
North America is the foremost region where emotion analytics is implemented by multiple organizations. Cloud solutions are growing at a faster rate and their implementation rate by several industries in APAC and EMEA region is high. API & SDK set controls the application, and software used to detect multiple human emotions have grabbed significant market share among all the technologies. APAC and Latin America have huge potential to adopt these technologies in various markets. Latin America is an emerging region in implementing facial analytics in education, retail, healthcare, and other sectors.
“Emotion analytics environment is improving as it has become a necessity for all the organizations to understand the moods of the customer entitled to buy their products. Facial and video analytics markets will help providers in obtaining the visual behaviour of the customers.” – Preeti Wadhwani, Team Lead – Research at Infoholic Research
Buy complete report on Worldwide Emotion Analytics Market – Drivers, Opportunities, Trends, and Forecasts, 2016–2022
The report covers the present scenario and the growth prospects of the worldwide emotion analytics market during the forecast period 2016–2022. The report provides an in-depth analysis and forecast covering the following key features:
The report is analyzed based on five segments – technologies, types, solutions, verticals, and regions
The report covers the evolution of emotion analytics, features, advantages, and its importance
The report covers drivers, restraints, and opportunities (DRO) affecting the market growth over the forecast years (2016–2022)
The report contains analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy, and views; and competitive landscape, which includes vendor assessment
The report covers the implementation of emotion analytics in media & entertainment, education, market research, healthcare, photography & events, retail, financial services, and others
The report covers the adoption of emotion analytics in North America, EMEA, APAC, and Latin America
Source: Infoholic Research