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Global Emotion Detection And Recognition (EDR) Market 2021 Segmented by Application and Geography Trends, Growth and Forecasts

Emotion Detection And Recognition (EDR)

Emotion Detection And Recognition (EDR) Market” report provides strategic supports mentioned by the business specialists with market sources, amount of manufacturing cost structure, raw materials, forecasts, turnover, manufacturing outlays, latest market trends, labor cost, demands and much more. Emotion Detection And Recognition (EDR) market report covers a comprehensive market structure through the globe with an in-depth study of major dynamics (Drivers, Challenges, Opportunities).  

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Key Market Trends:

Growing Adoption of Wearable Devices to Drive the EDR Market

– Growing adoption of wearable devices, which includes smartwatches, fitness bands, smart glasses, and smart textiles, will enable the growth of the EDR market.
– According to the Consumer Technology Association, the sales of smart wearables in the U.S reached 49.3 million units in 2018 and earned USD 6.4 billion.
– High investments in the industry and large industry collaborations are resulting in innovations in wearable technology.
– These wearable devices are equipped with biological sensors to monitor heartbeat and temperature, along with other components, such as microphones and cameras to capture human emotions, such as gestures, body postures, tone of voice, and facial expressions.
– Wearable devices continuously collect data from these sources and analyze the data to monitor the health and other aspects of the user. Thus, the growing number of wearable devices is expected to drive the growth of the market over the coming years.
– According to Cisco, the connected wearable device was 325 million in 2016 and expected to reach 1105 million in 2022. This is due to the growing awareness among the people regarding smart devices and technology like IoT that are boosting the market.

North America to Dominate the EDR Market

– North America has the largest share in the market. High investments and growing support from several end-user verticals to provide better services and security are driving the growth of the market in this region.
– The governments in this region are hosting several R&D activities in the field of EDR. The Feature Extraction and 3D modeling techniques are being used in the North America region and the bio-sensors technology is expected to attain a better growth rate by 2022.
– High investment and growing support from several end-user verticals to provide better services and security are driving the growth of the market in this region.

Market Overview:

  • The global emotion detection and recognition market was valued at USD 12.37 billion in 2018 and is expected to reach a value of USD 91.67 billion by 2024 at a CAGR of 40.46% over the forecast period of 2019 – 2024. Understanding emotion holds significance during the interaction process between humans and machine communication systems. EDR not only improves human and computer interfaces, but also enhances the feedback mechanism actions taken by computers from the users.
  • – Though Artificial Intelligence (AI) is expected to unleash the next wave of digital disruption, the limitation of AI to understand human emotion still remains a challenge. However in the past few years, increased access to data, low-cost computing power and evolving NLP combined with digital learning is enabling the systems to analyze human emotions.
  • – Key influencers of the market are rising need for better customer experience, as emotional connection also plays a key role along with customer satisfaction; the rising need for a human touch in digital communications (Chatbots) and challenges in language context and facial recognition.
  • – The key areas where emotion detection and recognition are expected to gain traction include entertainment (majorly gaming), transportation (autonomous cars), healthcare (various kinds of diagnostics) and retail (to enhance customer experience).

    Key Manufacturers Like 

  • Affectiva Inc.
  • Emotient Inc. (Apple Inc.)
  • Tobii AB
  • Noldus
  • Sight Corp.
  • Realeyes OU
  • Kairos.

    Scope of the Report:

  • Emotion Detection and Recognition (EDR) is typically identifying human emotion from facial expression or verbal expression. Now, with the help of AI, NLP and ML, the machine is made to understand human emotion through various software and act according to it. Various types of software and services are used by different end-user industry to help them know human emotion in their industry environment without a human being physically present over there.<

    Emotion Detection And Recognition (EDR) market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Emotion Detection And Recognition (EDR) market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Emotion Detection And Recognition (EDR) market have also been involved in the study.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

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    Key Questions Answered in Market Report: –

    • What will the market growth rate, Overview and Analysis by Type of Emotion Detection And Recognition (EDR) market in 2023?
    • What are the key factors driving, Analysis by Applications and Countries Emotion Detection And Recognition (EDR) market?
    • What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Emotion Detection And Recognition (EDR) ?
    • Who are Opportunities, Risk and Driving Force of Emotion Detection And Recognition (EDR) market? Knows Upstream Raw Materials Sourcing and Downstream Buyers
    • Who are the opportunities and threats faced by the vendors in Emotion Detection And Recognition (EDR) space? Business Overview by Type, Applications, Gross Margin and Market Share
    • What are the Emotion Detection And Recognition (EDR) market opportunities, market risk and market overview of the Market?

    Lastly, the Global Emotion Detection And Recognition (EDR) Market Research covers a complete market structure across the world with a comprehensive analysis of major key factors. This report provides planned orientations referred by the industry experts.

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    Study objectives of Emotion Detection And Recognition (EDR) Market Report:

    • To provide a detailed analysis of the market structure along with the Emotion Detection And Recognition (EDR) market forecast of various segments and sub-segments of the Emotion Detection And Recognition (EDR) market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Emotion Detection And Recognition (EDR) market trends that influence the global Emotion Detection And Recognition (EDR) market

    Detailed TOC of Emotion Detection And Recognition (EDR) Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Industry Attractiveness – Porter’s Five Force Analysis
    4.2.1 Bargaining Power of Suppliers
    4.2.2 Bargaining Power of Buyers/Consumers
    4.2.3 Threat of New Entrants
    4.2.4 Threat of Substitute Products
    4.2.5 Intensity of Competitive Rivalry
    4.3 Market Drivers
    4.3.1 Growing Internet of Things (IoT) Applications
    4.3.2 Need for Advanced Marketing Tools
    4.3.3 Growing Adoption of Wearable Devices
    4.4 Market Restraints
    4.4.1 Privacy Concerns Relating to the Deployment of this Technology
    4.4.2 Need for Specialized Hardware
    4.5 Technology Snapshot
    4.5.1 Machine Learning
    4.5.2 Pattern Recognition
    4.5.3 Bio Sensors Technology
    4.5.4 3D Modelling
    4.5.5 Natural Language Processing

    5 MARKET SEGMENTATION
    5.1 By Software & Services
    5.1.1 Software
    5.1.1.1 Facial Recognition
    5.1.1.2 Speech & Voice Recognition
    5.1.1.3 Bio Sensing
    5.1.2 Services
    5.2 By End-user Vertical
    5.2.1 Government
    5.2.2 Healthcare
    5.2.3 Retail
    5.2.4 Entertainment
    5.2.5 Transportation
    5.2.6 Other End-user Verticals
    5.3 Geography
    5.3.1 North America
    5.3.2 Europe
    5.3.3 Asia-Pacific
    5.3.4 Rest of the World

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Affectiva Inc.
    6.1.2 Emotient Inc. (Apple Inc.)
    6.1.3 Tobii AB
    6.1.4 Noldus
    6.1.5 Sight Corp.
    6.1.6 Realeyes OU
    6.1.7 Kairos

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

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