Dublin, Feb. 02, 2016 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/lhhw63/emotion_detection) has announced the addition of the "Emotion Detection and Recognition Market by Technology (Bio-Sensors, NLP, Machine Learning, and Others), Software Tools (Facial Expression, Voice Recognition and Others), Services, Application Areas, End Users,and Regions - Global forecast to 2020" report to their offering.
The global emotion detection and recognition market is expected to grow from USD 5.66 Billion in 2015 to USD 22.65 Billion by 2020, at a CAGR of 31.9%.Several factors such as rising demand for mapping, especially by the marketing and advertising sector, increasing concerns for security, and growing need for application support during emergency situations has bolstered the growth of emotion detection and recognition systems. Verticals such as banking, defense, commercial security, and many more have contributed toward the growth of the biometrics market.
Currently, due to the increasing rate of cybercrimes and illegal trespassing, the biometric authentication and deception detection systems have gained pace in terms of growth. These developments have cumulatively created an environment for emotion sensing technologies to be embedded within the computing systems for enhanced computing experience, and thereby resulting in better decision making. Technology implementation continues in the area of marketing and advertising campaigns, capturing emotions from customers and providing in-depth analysis.The emotion detection and recognition systems incorporate touch and touchless-based technologies that capture human emotional quotient through unique solution suites, tailored to meet the end users' environment. The suites comprise a combination of various software tools, such as facial expression recognition, speech & voice recognition, and biosensing software tools and apps for real-time emotion sensing. Natural language processing (NLP) and machine learning accounts for the major areas in the field of emotion detection technology.
Among the regions, North America is expected to have the largest market share and would dominate the market from 2015 to 2020. Correspondingly, during the same period, APAC is expected to showcase a significant growth potential in the emotion detection and recognition market.This is backed by the existence of large population, increasing customer awareness, developing technology hubs, and emerging countries such as China, Japan, South Korea, and India. Moreover, the region has some of the fastest-growing economies in the world, and business organization are continuously evolving and adopting new methods to promote congenial business environments.
However, due to lack of awareness, expertise, and other operational challenges, most of the organizations struggle to optimally utilize the full potential of Emotion Detection and Recognition Technology, as a result significantly hindering the growth of the market.
The technological giants such as IBM Watson and Tobii, along with some of the key innovators such as Affectiva, Emotient, Noldus Information Technology, Kairos, RealEyes and others, have created leading Emotion Detection systems and platforms.
These players have adopted various growth strategies such as new product launches, partnerships, contracts, collaborations, acquisitions, and expansions to expand their global presence and increase their market shares in the global market.
Companies Mentioned
- Affectiva
- Beyond Verbal Communication Ltd.
- Emospeech
- Emotient
- Eyeris
- Kairos Ar, Inc.
- Noldus:
- Nviso
- Realeyes
- Sentiance
- Sightcorp
- Tobii
For more information visit http://www.researchandmarkets.com/research/lhhw63/emotion_detection