Emotional AI Market - Forecasts from 2024 to 2029

Emotional AI Market - Forecasts from 2024 to 2029

The emotional AI market is estimated to reach US$7.003 billion by 2029, from US$3.745 billion in 2024, growing at a CAGR of 13.34%.

An emotional AI is an artificial intelligence solution that can recognize and analyze human facial expressions and vocal tones and interact accordingly. The solution can detect human emotions through texts, audio, and video. Emotional AI is set to play a crucial role in the global automation of various industries, such as healthcare, automotive, gaming, and entertainment. It offers multiple benefits to the users, as it helps in offering and conveying empathy and support in the conversation, and can also enhance the interaction between a machine and a human.

Emotional AI also offers its application in understanding the cognitive condition of an individual and can also recognize human reactions. In advancing mental healthcare technologies, emotional AI models are set to play a critical role. Emotional AI, in the mental healthcare environment, can understand the situation of patients and can predict multiple outcomes by leveraging machine learning and advanced algorithms. This model can also fast-track the diagnosis process, as the emotional AI model can understand the mental condition of the patients through limited exchanges and can monitor multiple data points like facial expressions and human voice tone.

Emotional AI market drivers
Increase cases of mental issues.

The increasing cases of mental illness and disorders worldwide are among the key factors forecasted to propel the global emotional AI market forward.

Emotional AI can offer early detection of illness and suggest preferred treatment and therapeutic procedures. The cases of mental illness, which includes depression, anxiety, stress, and autism, among others, witnessed a significant increase over the past few years. In its report, the World Health Organization (WHO) stated that in every 100 children globally, there is at least 1 case of autism. The organization stated that the characteristics and properties of autism can be perceived in the early stage of childhood, but it is generally not diagnosed or identified till the later stage of age.

The cases of depression among the global population have also witnessed a massive increase. For instance, in Canada, about 6.5% of the nation’s population, aged between 15 and 24, suffer from major depression every year, whereas nearly 7% of the adult population of the nation has symptoms of depression.

Furthermore, Statistics Canada, in its report, stated that the cases of mental disorders in Canada also witnessed a massive increase. The department stated that in 2022, the prevalence of anxiety, mood, or substance disorders reached 18%, whereas the cases of social phobia were recorded at 7.1%. Similarly, the number of major depression episodes among the total population of the nation was estimated at 7.6% in 2022, and the cases of general anxiety and bipolar disorder in the nation were observed at 5.2% and 2.1%, respectively.

Emotional AI market geographical outlook
North America is forecasted to hold a major share of the Emotional AI Market.

The North American region is forecasted to witness greater global emotional AI market growth.

This region is among the fastest developing regions in the technological sector. It is also among the global leaders in adopting new technologies like AI into multiple sectors, like healthcare, education, BFSI, and automotive. North American countries, like the USA and Canada, also introduced multiple investment policies and opportunities to integrate new technologies like AI into the healthcare sector, which can boost the efficiency of the healthcare industry in the region.

Reasons for buying this report:

Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub- segments.
Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape up future market developments.
Actionable Recommendations: Utilize the insights to exercise strategic decision to uncover new business streams and revenues in a dynamic environment.
Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.

What do businesses use our reports for?

Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence

Report Coverage:

Historical data & forecasts from 2022 to 2029
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

Emotional AI Market is analyzed into the following segments:

By Deployment

Cloud
On-Premise

By Application

Automotive
Consumer Electronics
Customer Services
Gaming
Healthcare
Others

By Geography

North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
United Kingdom
Germany
Spain
France
Italy
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
China
Japan
India
South Korea
Australia
Singapore
Indonesia
Others