Emotion Detection and Recognition Market worth $43.3 billion by 2027, growing at a CAGR of 12.9%: Report by MarketsandMarkets™

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Chicago, Feb. 27, 2023 (GLOBE NEWSWIRE) — The global Emotion Detection and Recognition Market size is projected to grow from USD 23.6 billion in 2022 to USD 43.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 12.9% during the forecast period, according to a new report by MarketsandMarkets™.

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321 – Tables
34 – Figures
324 – Pages

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Scope of the Report

Emotion detection and recognition solutions combine the discipline of computer science with the fields of cognitive science, psychology, sociology, and neuroscience. Emotion detection and recognition technologies help build an effective interface between humans and computers, which can detect an individual’s mental state and respond accordingly.

Emotion detection and recognition is one of the most buzzing terms in the Artificial Intelligence (AI) segment, which is all set to transform various end users, such as enterprises, defense and security agency, and the commercial and industrial segments. The keen interest of several players in this technology is driven by different promising applications in many areas, such as medical emergency, marketing and advertising, law enforcement, surveillance and monitoring, entertainment, and consumer electronics.

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By region, the Emotion Detection and Recognition Market in Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period. APAC is likely to witness high market growth due to the increasing adoption of advanced technologies, increasing Gross Domestic Products (GDPs) of countries, steady growth, and substantial development of economies. With rapid digitization, there is an increased use of smartphones, mobile applications, cloud storage, and the need for enhanced user experience for the smooth functioning of businesses, Asian organizations are adopting new business models that consider the significance of emotions in business operations. Factors including the rising need for early detection of medical conditions in the healthcare industry and the increasing number of technological innovations across enterprises are also anticipated to drive the adoption of emotion detection and recognition technologies in the region.

Opportunities are significant in Emotion Detection and Recognition Market. Increasing government initiatives, growing demand in the Automotive AI industry, and growing partnerships and widening ecosystems are major opportunities the key players are looking after.

Market Players

The major vendors covered in the Emotion Detection and Recognition Market include NEC (Japan), IBM (US), Microsoft (US), Apple (US), Google (US), Tobii (Sweden), Affectiva (US), Elliptic Labs (Norway), Intel (US), Cognitec (Germany), NVISO (Switzerland), Noldus (Netherlands), Gesturetek (Canada), iMotions (Denmark), Numenta (US), PointGrab (Israel), Ayonix (Japan), Pyreos (UK), Eyeris (US), Beyond Verbal (Israel), Kairos (US), Sentiance (Belgium), SightCorp (Holland), Crowd Emotion (UK), and Sony Depthsense Solutions (Belgium).

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