Emotion Detection and Recognition Market with COVID-19 Analysis, by Component (Software (Facial Expression Recognition, Speech & Voice Recognition), Services), Application Area, End User, Vertical and Region - Global Forecast to 2027

Emotion Detection and Recognition Market with COVID-19 Analysis, by Component (Software (Facial Expression Recognition, Speech & Voice Recognition), Services), Application Area, End User, Vertical and Region - Global Forecast to 2027

The global emotion detection and recognition market size is projected to grow from USD 23.6 billion in 2022 to USD 43.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 12.9% during the forecast period. The major factors driving the market growth include the rising need for accretion of speech-based emotion detection systems to analyze emotional states, Adoption of IoT, AI, ML, and deep learning technologies across the globe, growing demand in the Automotive AI industry, growing need for high operational excellence, and rising need for socially intelligent artificial agents.
By software, the biosensing solutions and apps segment to hold the largest market size in 2022
Biosensing solutions and apps collect human gestures through sensors, such as Electrocardiography (ECG), Electroencephalography (EEG), Electromyography (EMG), eye tracking sensors, and wearables. These software tools convert the collected inputs into mathematical form and interpret them for various applications, which is used in online learning systems, law enforcement sectors (applications, such as lie-detection and other threat detection), and healthcare. The use of biosensing software tools and apps to analyze growing inputs from the increasing adoption of biosensors, such as wearables, can act as a game changer for this particular market.

Asia Pacific to register the highest growth rate during the forecast period

Asia Pacific (APAC) has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR in the global emotion detection and recognition market during the forecast period. APAC constitutes major economies, such as China, Japan, and Australia, which are expected to register high growth rates in the emotion detection and recognition market. End users, such as industrial, commercial, and enterprises are expected to adopt emotion detection and recognition solutions at the highest rate in the region. Companies operating in APAC would benefit from the flexible economic conditions, industrialization-motivated policies of the governments, as well as from the growing digitalization, which is expected to have a significant impact on the business community.

Breakdown of primaries

The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

By Company Type:

Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%

By Designation:

C-level – 50%, D-level – 20%, and Others – 30%

By Region:

North America – 45%, Europe – 30%, Asia Pacific – 15%, MEA – 5%, Latin America -5%

Key vendors offering emotion detection and recognition solutions include NEC (Japan), IBM (US), Microsoft (US), Apple (US), Google (US), Tobii (Sweden), Affectiva (US), Elliptic Labs (Norway), Intel (US), Cognitec (Germany), NVISO (Switzerland), and Noldus (Netherlands). The emotion detection and recognition market study includes an in-depth competitive analysis of these key market players, along with their profiles, recent developments, and key market strategies.

Research Coverage

The market study covers the emotion detection and recognition market size across segments. It aims at estimating the market size and the growth potential of this market across different segments by technology, component, solution, application area, end user, vertical and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report

The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall emotion detection and recognition market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.