Emotion Analytics Market – Overview
Globally, the emotion analytics market is presumed to have a significant growth over the forecast period. The major driving factors for the growth of Emotion Analytics include due to demand for artificial intelligence and big data analytics. Additionally, surge in numbers of adoption of facial biometrics in BFSI sectors for biometrics solution which are extensively used for ID cards, passport, driving license, health insurance card, and social security cards are also expected to gain a huge popularity of the Emotion Analytics Market. On the other hand, lack of technical expertise for developing machine learning and neural networks is expected to hinder the growth of the Emotion Analytics market over the forecast period.
Some of the major players in Global Emotion Analytics Market include Microsoft Corporation (U.S.), International Business Machines Corporation (U.S.), Apple, Inc. (U.S,), Retinad Virtual Reality Inc. (Canada), Neuromore Inc. (U.S.), Imotions A/S (Denmark), Kairos AR, Inc. (U.S.), Beyond Verbal (Israel), Affectiva (U.S.), Eyris (EmoVu) (U.S.), Adoreboard (U.K.), sensation.io (Germany), iMotions (U.S), RealComm Global LLC (U.S), Lightspeed LLC (U.S.) among others, are profiled in MRFR Analysis and are at the forefront of competition in the global Emotion Analytics market.
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March 2018, Affectiva, one of the leading artificial emotional intelligence (Emotion AI), had launched Affectiva Automotive AI, the first multi-modal in-cabin AI sensing solution. The advanced Affectiva Automotive AI recognize, face and voice, complex and nuanced emotional and cognitive states of a vehicle occupants in real time and provide comprehensive people analytics.
May 2017, IBM Corporation, the leading giant in Artificial intelligence with IBM Watson, which has already acquainted with emotion detection capability has collaborated with Andres Cepeda Grammy-winning Colombian singer had launched first ‘Cognitive Music’ Project in Latin America. With the help of IBM Watson and technologies such as Watson Beat and Watson Tone Analyzer Andres Cepeda would be able to compose a full song (music and lyrics) where the final arrangement and performance responsibility will be solely of the artist.
Emotion Analytics Market – Segmentation
Segmentation by Type: Mobile Phone Smart Glasses, Integrated Smart Glasses, and External Smart Glasses.
Segmentation by technologies: Artificial Intelligence, Biometrics & Neuroscience, 3D Modelling, Pattern Recognition, Records Management, & Others.
Segmentation by Solution: mobile and web application, cloud, and others.
Segmentation by End-user: Enterprises, Defence & Security Agencies, Commercial, Industrial, & Others
Segmentation by Region: North America, Europe, Asia Pacific, and the Rest of the World.
Emotion Analytics Market – Regional Analysis
Geographically, the Emotion Analytics market are categorized into four regions namely North America, Europe, Asia Pacific, and Rest of the World. North America is expected to dominate the global Emotion Analytics market with the largest market share in the region. The U.S and Canada are the leading countries are leading countries in the region. The market growth is due to presence of IT giants such as IBM Corporation, Microsoft Corporation and many more which are increasing their investment in research and development for providing cloud based solutions for emotion analytics. Asia Pacific is considered to be the fastest growing region in the Emotion Analytics market. China, Taiwan, South Korea, Japan, India are leading countries in the region owing to increase in demand for analytical solution for retail and ecommerce sector.
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