Segments - Emotion Analytics Market by Types (Speech Analytics, Face Analytics, Text Analytics, and Video Analytics), Technology (Pattern Recognition, 3D Modeling, Biometrics & Neuroscience, Artificial Intelligence, Record Management, and Others), Deployment (On-cloud and On-premise), Applications (Public Safety & Law Enforcement, Competitive Intelligence, Sales & Marketing Management, Workforce Management, Customer Experience Management, and Others), End-users (Media & Entertainment, Automotive, IT & Telecommunication, BFSI, Retail, Healthcare, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030
The global emotion analytics market size was valued at around USD 2.3 billion in 2021 and is estimated to reach USD 7.62 billion by 2030, expanding at a CAGR of around 14.6% during the forecast period, 2022 to 2030. The growth of the market is attributed to the increasing demand for improved consumer satisfaction and the growing demand for real-time emotional analytics services.
Emotion analytics is the analysis process of identifying and interpreting emotions expressed verbally and non-verbally. Emotion analytics collects data from various sources such as speech, facial expressions, textual data, videos, photos, and others. There are some universally recognized emotions such as surprise, happiness, anger, sadness, fear, disgust, and contempt.
Several innovative technologies such as Artificial Intelligence (AI), facial recognition, biometrics, 3D modeling, neuroscience, and others are used to carry out emotion analysis. These advanced software, programs, and tools are capable of detecting faces and capturing real-time responses.
Every move and contraction of facial muscle are detected by these tools and emotions are determined. The tools are used to determine emotions expressed in textual data as well. The emotion analytics process is used to identify and interpret the hidden emotions expressed through the textual data. The goal of emotion analytics is to recognize and gather information regarding the ideas, views, and thoughts of individuals. The process provides deeper contextual understanding and insights.
Organizations, companies, and brands apply emotion analytics to understand what customers feel regarding the products and services of these organizations, companies, and brands. Emotion analytics provide vital consumer insights that companies employ in their business models to enhance consumer experiences and expand their businesses. Emotion analytics is used in several industries such as media & entertainment, automotive, IT & telecommunication, BFSI, retail, healthcare, and others. Emotion analytics is used for online education, advertising, A/B testing, video games testing, patient triage, sales & marketing, and others.
The demand for emotion analytics solutions increased during the COVID-19 pandemic situation. People experienced and suffered from a lot of stress during the pandemic, due to social distancing, lack of social interaction, loss of income, the uncertainty of the future, and other reasons.
The increasing stress took an emotional toll on several people during the pandemic. Several people turned to social media platforms to express their emotions. This facilitated companies to adopt the expert system and sociometric to analyze the emotions and overall mood of consumers across the globe. Companies, organizations, and several vendors used the collected data to improve their businesses and expand their consumer base.
The research report presents a complete overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The emotion analytics market report has up-to-date insights about market dynamics and market scenarios that can shape the overall market performance and output during the forecast period, 2022 to 2030.
Increasing number of organizations and companies are adopting innovative and technologically advanced analytical techniques such as Artificial Intelligence (AI), big data analytics, and others to gather accurate consumer information in one of the key trends in the global emotion analytics market. Continuously increasing information available online drives market players to employ advanced analytical techniques to analyze individual behavior.
Several organizations and companies adopt various emotion analytics tools to recognize customer patterns, changing preferences, and current trends to collect consumer insights. Organizations and companies use those insights to improve their sales pitches to expand their consumer base and expand their businesses. These insights are used to curate personalized user experiences to improve and enhance consumer experiences to expand businesses as well.
Several industries such as BFSI, retail, healthcare, IT & telecommunication, automotive, media & entertainment, and others are increasingly adopting and using emotion analytics tools to understand consumer preferences and current trends. These consumer insights facilitate the expansion of these industries, which boosts the demand for emotion analytics fueling the growth of the global emotion analytics market.
Adopting and implementing emotion analytics can be an expensive tool to gather customer information. Skilled professionals that can gather information using emotion analytics can add to the cost of the tool. High costs associated with emotion analytics are estimated to restrain the market growth in the coming years.
Photos, texts, videos, and other personal information is used for emotion analytics to gather consumer insights. These information sources provide detailed information regarding consumers to companies, organizations, and vendors to use for their business expansion. However, it can pose a threat to the privacy and security of consumers. This factor is expected to hinder market growth in the coming years.
Leading companies and businesses across the globe are adopting cloud-based innovative technologies such as big data, artificial intelligence, and others for emotion analytics applications. The increasing adoption of technologies such as big data and artificial intelligence facilitates business expansion and offers growth opportunities to market players.
The report on the global emotion analytics market includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Emotion Analytics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2021 |
Historic Data |
2019–2020 |
Forecast Period |
2022–2030 |
Segmentation |
Types (Speech Analytics, Face Analytics, Text Analytics, and Video Analytics), Technology (Pattern Recognition, 3D Modeling, Biometrics & Neuroscience, Artificial Intelligence, Record Management, and Others), Deployment (On-cloud and On-premise), Applications (Public Safety & Law Enforcement, Competitive Intelligence, Sales & Marketing Management, Workforce Management, Customer Experience Management, and Others), and End-users (Media & Entertainment, Automotive, IT & Telecommunication, BFSI, Retail, Healthcare, and Others) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Affectiva; Zoom Video Communications, Inc.; Parrot Analytics Limited.; International Business Machines Corporation; Clarifai, Inc.; Realeyes; Sensum d.o.o.; Kairos Technologies; Noldus Information Technology; iMotions A/S; neuromore; Apple Inc.; Microsoft; Realcomm; Adoreboard; Retinad Virtual Reality Inc.; Eyris (EmoVu); sensation.io; NVISO SA.; Google LLC; Lightspeed; Sentiance NV.; SAS Institute Inc.; InMoment; Deloitte Touche Tohmatsu Limited; Tobii AB; Alphabet; and Others |
According to types, the global emotion analytics market is divided into speech analytics, face analytics, text analytics, and video analytics.
The speech analytics segment is expected to register rapid growth during the forecast period, due to increasing demand and usage of voice-based smart home devices or assistants such as Amazon Echo and Google Nest. An increasing number of consumers are using their voices to search on the internet with smartphones and smart home devices. Increasing demand for devices with voice input, the growing importance of speech analytics in call centers, and the rising number of companies incorporating speech analytics in the retail space are the key factors, which are estimated to drive the speech analytics segment in recent years.
In terms of technology, the global emotion analytics market is segmented into pattern recognition, 3d modeling, biometrics & neuroscience, artificial intelligence, record management, and others. Artificial Intelligence (AI) segment is anticipated to hold a key market share during the forecast period, owing to the increasing adoption of innovative technologies such as AI in emotion analytics and other applications. AI technology is used to analyze emotions in humans, which help companies gather consumer insights to expand their businesses. This drives the artificial intelligence segment growth.
On the basis of deployment, the global emotion analytics market is bifurcated into on-cloud and on-premise. The on-cloud segment is anticipated to hold a key market share during the forecast period, due to increasing usage of cloud to cloud-based tools for emotion analytics. A growing number of innovative technologies such as AI, face recognition, and other cloud-based software and tools are used for several applications such as understanding consumer preferences, recognizing human emotions, and others. These are the key factors that boost the on-cloud segment growth.
Based on applications, the global emotion analytics market is segregated into public safety & law enforcement, competitive intelligence, sales & marketing management, workforce management, customer experience management, and others.
The sales & marketing management segment is estimated to hold a key market share during the forecast period, as several companies are adopting emotion analytics to understand consumer emotions to gather consumer insights. Several companies are increasingly using emotion analytics to aid in their sales pitches with the help of consumer insights that they have gathered. This way they can expand their business. This is a key factor, which aids in the expansion of the sales & management segment.
In terms of end-users, the global emotion analytics market is divided into media & entertainment, automotive, IT & telecommunication, BFSI, retail, healthcare, and others.
The retail segment is projected to register a huge growth during the forecast period, as e-commerce is gaining popularity over traditional and physical stores across the globe. The competition among several emerging e-commerce companies is steadily rising to dominate the market and expand their customer base. Online retail companies increasingly depend upon emotion analytics to identify the latest trends and customer tastes by analyzing the voices of customers to generate insights. These are the major factors boosting the retail segment growth.
The automotive segment is anticipated to witness rapid growth in the coming years, as the automotive industry is one of the major adaptors of new and innovative technology. An increasing number of car companies are adopting emotion analytics to enhance the safety features of their cars. This factor spurs the automotive segment growth.
Based on regions, the global emotion analytics market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to register a high CAGR during the forecast period, due to the presence of several key market players in the region.
The developed countries in the region such as the US and Canada have large retail markets, as several companies adopt new technologies that aid them in gaining customer insights. These countries invest in research and development activities significantly, which contributes to the innovative technologies that are adopted by various industries in North America. These customer insights facilitate the expansion of several retail businesses around the region. The market in North America registers growing advertisement expenditure, which is expected to increase the adoption of emotion analytics technology to aid companies to gain consumer insight and formulating data-driven decisions.
The market in Asia Pacific is anticipated to expand significantly in the coming years, owing to growing digitization, rapid industrialization, increasing implementation of biometric systems, and a rising number of contact centers across the region. The countries in Asia Pacific such as India, China, and Japan register substantial growth in the service industry. Asia Pacific includes some of the fast-growing economies such as China, India, Japan, South Korea, and others. The competition between several companies and organizations in these countries is increasing to provide better customer services than others. These are some of the major factors fueling the emotion analytics market growth in Asia Pacific.
The global emotion analytics market has been segmented on the basis of
Key players competing in the emotion analytics market are Affectiva; Zoom Video Communications, Inc.; Parrot Analytics Limited.; International Business Machines Corporation; Clarifai, Inc.; Realeyes; Sensum d.o.o.; Kairos Technologies; Noldus Information Technology; iMotions A/S; neuromore; Apple Inc.; Microsoft; Realcomm; Adoreboard; Retinad Virtual Reality Inc.; Eyris (EmoVu); sensation.io; NVISO SA.; Google LLC; Lightspeed; Sentiance NV.; SAS Institute Inc.; InMoment; Deloitte Touche Tohmatsu Limited; Tobii AB; Alphabet; and others.
Some of these major companies have adopted a series of business development strategies including mergers and acquisitions, entering into partnerships and collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.
An emotional analysis is important to detect and understand consumer feelings, tastes, and preferences. Companies use such analysis to gain customer insights, which are used to improve customer experiences and services to expand their business.
Affectiva; Zoom Video Communications, Inc.; Parrot Analytics Limited.; International Business Machines Corporation; Clarifai, Inc.; Realeyes; Sensum d.o.o.; Kairos Technologies; Noldus Information Technology; iMotions A/S; neuromore; Apple Inc.; Microsoft; Realcomm; Adoreboard; Retinad Virtual Reality Inc.; Eyris (EmoVu); sensation.io; NVISO SA.; Google LLC; Lightspeed; Sentiance NV.; SAS Institute Inc.; InMoment; Deloitte Touche Tohmatsu Limited; Tobii AB; and Alphabet are some of the key players in the global emotion analytics market.
Media & entertainment, automotive, IT & telecommunication, BFSI, retail, healthcare, and others are the end-users in the global emotion analytics market.
North America dominates the global emotion analytics market.
Emotion analytics is the analysis process of identifying and interpreting emotions expressed verbally and non-verbally.
Speech analytics, face analytics, text analytics, and video analytics are the types of emotion analytics.
Pattern recognition, 3D modeling, biometrics & neuroscience, artificial intelligence, record management, and others are the technologies used in emotion analytics.
Public safety & law enforcement, competitive intelligence, sales & marketing management, workforce management, customer experience management, and others are the applications of emotion analytics.
The global emotion analytics market size was valued at around USD 2.3 billion in 2021 and is anticipated to reach around USD 7.62 billion by 2030.
The global emotion analytics market is estimated to register a CAGR of around 14.6% during the forecast period.