In today’s world of internet, people express their feelings, sentiments, and emotions through text, emojis, like, and dislike. Emotion Analytics is a brand new subject that focuses on establishing and analyzing the human emotions such as feelings, mind-set, and emotional personality. It is a formal behavior of a person, and recognizes the person’s mood or attitude based on verbal and non-verbal communication. In business, emotion analytics is frequently used to recognize a customer behavior, that is how customer identify the product, the presentation of the product or the interaction with the representatives.
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Market Growth Factors :
A large number of companies are carrying out emotion analytics technologies because of increase in number of videos, vital decision making, and understanding human behavior are the main drivers driving the growth of the market. IoT in emotion analytics enables corporations to better recognize human feelings and might be a brand new size in advertising and marketing. Another growing element for the growth of emotion analytics market is the use of mobile and cloud-based biometrics technologies is increasing in many organizations. Facial analytics is increasing the growth of emotion analytics market as lots of organizations are showing interest in studying consumer’s facial expressions and their feelings. This would help them to understand the customer’s perception towards the product.
Market segmentation :
The emotion analytics market is divided into five major segments includes technology, type, solution, vertical, and region. The market is split into different technologies such as AI (Artificial Intelligence), biometrics & neuroscience, 3D modelling, pattern recognition, records management and others. Artificial intelligence is considered to have largest share market, as this technology is being implemented in many organizations. To secure various business operations biometrics technology is being used. The are various types of emotion analytics such as facial analytics, speech analytics, video analytics and others. Moreover, on the basis of solution segment it is bifurcated into API & SDK, mobile & web application, cloud and others. API and SDK solution is the backbone of emotion analytics market, and it is considered to have huge market share value. Research, retail, healthcare, financial services, photography & events, media & entertainment, and others are the end-users of emotion analytics market. Media & entertainment is the main industry within the emotion analytics market. It is predicted that the education sector may have number of opportunities in the coming years. Healthcare industry is focused on neuroscience technology to offer good services to patients and to recognize their emotions.
Regional analysis :
The emotion analytics market is split into different geographical regions includes, North America, Europe, APAC, and MEA. North America is the fastest developing place in the world, as lot of technologies are emerging and used by various organizations. In implementation of cloud-based face recognition software North America is the world’s largest region. APAC is considered to have major market share value in emotion anaytics market followed by EMEA.
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Competitive Analysis :
As per the competitive analysis of emotion analytics market, the key vendors includes Microsoft, IBM, Retinad Virtual Reality, Neuromore, Imotions A/S, Kairos, Beyond Verbal, Affectiva, Eyeris (EmoVu), others. Numerous players are sensing the feelings and plays an important role in providing higher customer experience. Number of startups and big players are entering into the market. Major players such as Google, Apple, Facebook, IBM, and Microsoft are acquiring smaller players to boom their market share.
Latest news :
On January 8, 2018 it has announced that emotion and data will radically transform the digital landscape in 2018.
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