Surge increase in demand from the automotive sector and surge in need for customer behavior management using data primarily drive the Emotion Analytics Market growth. However, analysis of emotional misunderstandings hamper the market growth to some extent. Moreover, applications for emotional recognition are in greater demand and are expected to provide lucrative opportunities for the market growth during the forecast period.
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The global emotion analytics market is analyzed across type, enterprise size, deployment mode, application, end-user, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By type, the text analytics segment held the largest share in 2021, garnering around three-fourths of the global emotion analytics market revenue, and is projected to maintain its dominance by 2031. The facial analytics segment would also showcase the fastest CAGR of 17.6% during the forecast period.
By application, the customer experience management segment contributed to nearly one-third of the global emotion analytics market share in 2021, and is projected to rule the roost by 2031. The Public safety and law enforcement segment, on the other hand, would display the fastest CAGR of 17.5% throughout the forecast period.
By end-user, the retail segment accounted for the highest share in 2021, generating nearly half of the global emotion analytics market revenue. The defense and security segment would also portray the fastest CAGR of 17.7% during the forecast period.
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By region, North America held the major share in 2021, garnering more than one-third of the global emotion analytics market revenue. Asia-Pacific, simultaneously, would showcase the fastest CAGR of 17.8% from 2022 to 2031.
The key market players analyzed in the global emotion analytics market report include Adoreboard, Affectiva, Apple, Inc., Beyond Verbal Communication, IBM Corporation, iMotions A/S, Microsoft Corporation, Neuromore, NVISO SA and Retinad. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry.
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Covid-19 Scenario-
- Around the world, business have been severely impacted by the COVID 19 outbreak. Because of the lockdowns imposed by various governments.
- However, it has favorably impacted the adoption of emotion analytics industry. Customer feedback analysis using emotion analytics has gained significant popularity in this period.
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