Updates 2020: Emotion Detection And Recognition Market To Reach USD 88.3 Billion By 2027 | CAGR 21.2% — Forencis Research
Global Emotion Detection and Recognition Market: Key Highlights
- According to the new market research report “Emotion Detection and Recognition Market by Software Tool (Facial Expression & Emotion Recognition, Voice Recognition and Gesture & Posture Recognition), by Technology (Pattern Recognition Network, Machine Learning, Natural Language Processing, Bio-sensors Technology, Feature Extraction and 3D Modeling and Others), by Service (Storage and Maintenance, Consulting and Integration), by Application (Law Enforcement, Surveillance, & Monitoring, Entertainment & Consumer Electronics, Marketing & Advertising, E-Learning, Medical Emergency, Video Games and Others), by End-User (Commercial, Industrial, Defense, Government, Retail, Entertainment, Transportation and Others), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) — Global Forecast (2020 to 2027)”, the global Emotion Detection and Recognition Market is estimated to reach USD 88.3 Billion by 2027 at a CAGR of around 21.2% during the review period.
- The Emotion Detection and Recognition (EDR) is a method which is being used for recognition and detection of the human emotion, with the help of technological capabilities that includes facial recognition, speech & voice recognition, and pattern recognition.
- Moreover, this is being implemented to know the about a person’s feeling with the help of a facial image or video. These trend in the technology may lead to boost the growth of the market in the forecast period.
Global Emotion Detection and Recognition Market: Key Market Dynamics
- With the growing adoption of wearable technology is witness to boost the growth of the market in the forecast period. Whereas, the wearable technology contain sensors for tracking information which helps to detect the physical traces such as skin temperature, blood pressure as well as the heart rate.
- One of the major key concern of the market high cost issue which may hamper the market growth. Whereas, the emotion detection and recognition system is performing various processes to detect the emotions.
- Growing government support to advance the recognition technology as well as rising technological advancement in Artificial Intelligence (AI) and Machine Learning (ML) is lead to create a major opportunities for the growth of the market in the forecast period.
- Misinterpretation in analysis of emotions as well as the data privacy and security concern is create a major restraining factor for the market growth.
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Global Emotion Detection and Recognition Market: Regional Overview
- North America:
The North America is witness to have tremendous growth in the adoption of robust infrastructure as well as favorable governmental support which is projected to boost the emotion detection and recognition market. Moreover the US and Canada are projected to be a key contributors to the growth of the emotion detection and recognition market. Also, the significant research and development (R&D) activities as well as the partnership is contributing is major opportunities for the market growth in the region.
Hence, the startups in the region, offers emotion detection as well as the recognition solutions to cater to the needs of user. These trends will fuel the market growth in the forecast period.
The region is anticipate of play a major role for the growth and developments of the market in the forecast period. Whereas, with the rising customer service awareness, improving growth in the developing technology, as well as the economies of region is lead to enhance the market demand. The countries such as, India, Japan and China, are adopting the new business platform to promote consumer centric as well as the competitive environments generating opportunities for market growth.
Hence, the region is projected to grow at a highest rate during the forecast period, with the adoption and government support for the technological development.
Global Emotion Detection and Recognition Market: Key Players Overview
Microsoft Corporation is an American multinational technology company, which develops, manufactures, supports & sells computer software and consumer electronic products. In 2018, the company had signed an agreement to acquire XOXCO, a company with conversational AI and bot development capabilities. Also, in 2019 the company has introduced four free “Eyes First” games for people with speech and mobility disabilities.
Hence, the Azure Cognitive Services Face service provides algorithms that detect, recognize, as well as analyze human faces in images.
Affectiva is an MIT Media Lab spin-off, is the pioneer in Emotion AI, the next frontier of artificial intelligence. In 2018, the company unveiled Mobile Lab with automotive AI technology. Moreover, in 2019, company had partnered with Aptiv PLC to enable next-generation vehicle experience. Hence, these partnership will deliver innovative as well as the scalable software derived from deep learning architectures to boost the perception capabilities in advanced safety solutions and reimagine the future of the in-cabin experience.
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