March 31, 2020
Emotional Analytics

Emotional Analytics Market growth drivers, opportunities and forecast analysis to 2027

The global market for emotional analytics is anticipated to expand to CAGR by 15.6 per cent during the forecast period from 2019 to 2027.

The increasing adoption of Big Data Analytics and Artificial Intelligence (AI) are few of the key factors driving the growth of the emotional analytics market. Emotional Analytics has become increasingly important in industries such as call centers, sales and marketing, among others. It is often used in call centers as a standalone application or in a customer relationship management system that uses audio mining techniques and correlation engines to monitor caller’s word and emotions.

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Based on technology, the Biometrics and Neuroscience segment is leading the emotional analytics market as it enhances the protection of business operations. As biometric technology is becoming more widespread, companies and governments are adopting the technology to provide employees with a secure and fast experience when logging in on-site networks and applications. The rapid adoption and application of emotional analytics is expected to stimulate the growth of the market.

Geographically based, the emotional analytics market is dominated by the North American region due to its dominance in the rapid adoption of artificial intelligence technology and Big Data analytics. North America is lagging behind Europe as a number of vertical end-user industries such as defense and security agencies and government, among others, are rapidly adopting emotional analytics software. Increased adoption of facial biometrics in various industries, such as banking, finance, sales and marketing, among others, is on the increase to a large extent.

Wide application of Big Data and artificial intelligence are creating wider opportunities for developers of emotional analytics. Technology companies involved in developing emotional analytics software are aggressively focusing on the development of advanced emotional detection APIs, facial biometric tools and camera-based analytics platforms, among others. For example, Beyond Verbal and the Israeli start-up have developed an engine that measures the emotional state of a person based on their vocal intonations. This engine is being used in various call centers and they have seen tremendous growth in their sales after the software’s deployment.

Some of the leading manufacturers/developers profiled in the study include Google, Inc., Apple, Inc., Facebook, Inc., Microsoft Corporation, IBM Corporation, Kairos AR, Inc., Affectiva Inc., Beyond Verbal, Eyris (Emovu), iMotions A/S, sensation.io, RealComm Global LLC, Neuromore Inc., Lightspeed LLC, Retinad Virtual Reality Inc. among others.

Key questions answered in this report

  • Worldwide market value of emotional analytics market in 2017 and 2018
  • Estimated forecast and market projections up to 2027
  • Which is largest regional market for emotional analytics?
  • Which application segment has the highest penetration of emotional analytics?
  • Which are the key trends driving the global emotional analytics market growth?
  • Who are the leading companies in emotional analytics market?
  • What are the key strategies adopted by the leading emotional analytics developers?

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