Emotion Detection and Recognition Market Projected to Reach 22.65 Billion USD by 2020

The report “Emotion Detection and Recognition Market by Technology (Bio-Sensors, NLP, Machine Learning, and Others), Software Tools (Facial Expression, Voice Recognition and Others), Services, Application Areas, End Users,and Regions – Global forecast to 2020″, The global Emotion Detection and Recognition market is expected to reach USD 22.65 Billion by 2020, at a CAGR of 31.9%, due to increased focus on competitive intelligence and growing amount of spatial data.  Moreover, technological advancements have increased applications in numerous sectors and global deployments in various application areas, such as medical emergency & healthcare, marketing & advertisement, law enforcement, surveillance & monitoring, entertainment & consumer electronics, and others.

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The emotion detection and recognition market has created promising results and provides deep analysis as well as cost benefits from deploying solutions for end users like enterprise, defense and security agencies, commercial, industrial and others.

Natural Language Processing (NLP) has created vibrant prospects for marketers and other stakeholders in the market

NLP is the backbone of the emotion detection and recognition technology. It is essential for the configuration of emotion detection and recognition technology, as most of the data available with business organizations is in the form of human language or dark data. Currently, although NLP is seen in a nascent form, through emotion detection technology, interesting solutions have come up which can be applied across various industries.

Rising demand in consulting and integration as a service in emotion detection technology

Tremendous growth is observed in the service areas of emotion detection and recognition technology, the main reason behind concentrating more on services specifically on consulting and integration is due to the lack of not knowing the future implications by using this trend. Services providers in this report include – Affectiva, Noldus Information Systems and many others. Several key innovators have also been showcased in the study including – Kairos AR Inc., RealEyes, Sentiance, Sightcorp, nViso and others

Growing demand to optimize and bring radical change in the areas of marketing and advertisement by using emotion detection and recognition technology creates remarkable potential in the Asia-Pacific (APAC) market

The APAC region is expected to experience extensive growth opportunities in the next few years. The existence of a large working population and developing technology hubs, have expanded the competitive environment in the region. Countries such as China, Japan, South Korea, and India are putting in efforts to deploy various Emotion Detection and Recognition Technology. These developments, along with the growing demand from a massive and growing population, certifies a tremendous growth potential for emotion detection and recognition technology market in the region.

MarketsandMarkets broadly segments the emotion detection and recognition market on the basis of technologies, software tools, services, application areas, and end users. The study covers more than 10 industry verticals including defense, government, healthcare and life sciences, retail and e-commerce, commercial, enterprise, and others.

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