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Emotion Recognition and Sentiment Analysis Software Market 2020 – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026

Emotion detection and recognition is a technology that reads the human facial emotions by using advanced image processing. An emotion recognition and sentiment analysis software can seize human micro-expressions. The software is beneficial primarily for security purposes. Emotion recognition and sentiment analysis technologies have been able to capture a wide range of body languages that remain unnoticed even by humans themselves. Companies have been working on combining refined algorithms with promising image processing techniques that have been developed in the recent years. This approach would help enterprises understand more about how a particular video or an image of a person’s face provides insights about his/her thoughts and emotions.

Initially, emotion recognition and sentiment analysis systems were deployed by surveillance departments and law enforcement agencies to detect polygraph and lie tests. Nevertheless, the range of usage of these technologies has been expanding in several industry verticals such as gaming, research, retail, health care, marketing, and media & entertainment. Thus, the need for sophisticated and advanced technologies to standardize emotion detection is increasing worldwide. Growing availability of cognitive services, increasing focus on improvement in the country’s competitive intelligence, expanding surveillance sector, and rising number of applications of the software in numerous industry verticals are driving the emotion recognition and sentiment analysis software market. Other factors such as increasing trend of using the wearable and Internet of things (IoT) technology are also promoting growth of the market. However, high functional requirements and application costs associated with deployment of the technology are major challenges that the market is anticipated to face in the near future. However, growing development of the emotion detection technology and rising adoption among end-users offer immense opportunities to vendors operating in the emotion recognition and sentiment analysis software market.

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The emotion recognition and sentiment analysis software market can be segmented based on component, end-user, industry vertical, enterprise size, and region. In terms of component, the market can be classified into software and solutions. The software segment has been sub-divided into cloud software and on-premise software. The services segment has been sub-divided into managed or outsourced services and professional services. Professional services include consulting, integration & implementation, and maintenance & operations. In terms of end-user, the market has been segmented into commercial, industrial, government, and others (such as personal users). In terms of industry vertical, the emotion recognition and sentiment analysis software market has been segmented into health care, transport & logistics, government & defense, gaming, retail, media & entertainment, and others. Based on enterprise size, the market can be segmented into small- and medium-sized enterprises (SMEs) and large-sized enterprises. The large-sized enterprises segment is estimated to hold the maximum market share throughout the forecast period.

Geographically, the global emotion recognition and sentiment analysis software market has been classified into North America, Europe, Middle East & Africa, Asia Pacific, and South America. The market in North America and Europe is primarily driven by presence of a large number of vendors of emotion recognition and sentiment analysis software. Growth of the market in North America is primarily attributable to growth of the market in the U.S. and Canada, as companies in these countries are investing heavily in enhancing their research and development (R&D) activities so as to come up with differential offerings. The emotion recognition and sentiment analysis software market in Asia Pacific is primarily driven by increase in the adoption of mobile- and web-based applications in the region. Asia Pacific is also expected to offer lucrative growth opportunities to key players operating in the global emotion recognition and sentiment analysis software market in the next few years, due to significant growth in industrialization in the region.

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The emotion recognition and sentiment analysis software market is undergoing its developing stage, as companies in the market are developing innovative technologies and profoundly investing in R&D activities. Some of the key players in the global emotion recognition and sentiment analysis software market include Affectiva, Inc., Apple, Inc., Realeyes, Inc., nViso S.A., Sightcorp, Sentiance, Tobii AB., Kairos AR, Inc., and Noldus Information Technology.

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