Emotion Recognition and Sentiment Analysis Software Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, Japan, UK, Germany - Size and Forecast 2024-2028

Emotion Recognition and Sentiment Analysis Software Market 2024-2028 :

The emotion recognition and sentiment analysis software market size is projected to increase by USD 797.17 million, at a CAGR of 14.15% between between 2023 and 2028. The growth rate of the market depends on several factors including the growing popularity of wearable devices, the growth of IoT, and the rising need for social media monitoring. ER and SA is a method of interpreting human emotions and sentiments using AI and cognitive software. ER and SA software are typically used to identify a person's emotions through his or her facial expression or verbal communication. Continuous innovations in the field of AI, such as deep learning NLP and visual processing, are enabling advances in ER and SA software. The adoption of AI is increasing significantly owing to rapid improvements in the processing power of computers, which can execute complex tasks quickly and efficiently.

The market report includes a comprehensive outlook on the emotion recognition and sentiment analysis software market offering forecasts for the industry segmented by Application, which comprises customer service/experience, product/market research, patient diagnosis, and others. Additionally, it categorizes Deployment into on-premises and cloud-based and covers Region, including North America, APAC, Europe, Middle East and Africa, and South America. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.

What will be the size of the Emotion Recognition And Sentiment Analysis Software Market During the Forecast Period?

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Emotion Recognition and Sentiment Analysis Software Market Overview

Emotion Recognition and Sentiment Analysis Software Market  Driver

The growing popularity of wearable devices is notably driving the market growth. Wearable devices have been developed with software that tracks information and records an individual's heart rate, blood pressure, skin temperature, and number of footsteps and provides cues about the person's mood. Besides such information, the software also records information like body posture, gestures, facial expressions, and tone of voice. These wearables can track and monitor changes in the mood and behavior of the wearer continuously. Buyers are increasingly choosing devices that track the psychological and physiological changes in the human body. Wearables like wristbands can detect the moods of a person.

Also, these wearables have some other clinical applications, such as monitoring anxiety, mood, and stress and measuring painkiller drug responses. Emotion recognition-enabled wearables also help visually impaired and autistic individuals to understand the emotions of people that they interact with. Therefore, the rising demand for wearable devices will increase the growth of the market during the forecast period.

Emotion Recognition and Sentiment Analysis Software Market Trends

The growing adoption of real-time sensing analysis is an emerging trend shaping the market growth. Emotion recognition software is being used by many industries, like automation, healthcare, and gaming. Real-time sensing by deploying emotion recognition software has been adopted in some industries. For example, Affectiva Inc.'s Nevermind is a video game that uses emotion-based feedback. Depending on the player's mood, the game level and the difficulty level can be adjusted. Based on the emotions detected, the game analyzes and offers the player a suitable level of the game. Another example of real-time sensing technology is driver alertness detection systems, where the level of drowsiness or attentiveness of the driver is recorded and analyzed.

However, based on the observations, an alarm alerts a drowsy driver to prevent him or her from drifting from the traffic lane and causing an accident. Such systems require emotion recognition software. Therefore, such driver alertness detection systems are expected to be a growing trend, which will enhance the growth of the market during the forecast period.

Emotion Recognition and Sentiment Analysis Software Market Restrain

Low-quality video content hampering emotional interpretation is a significant challenge hindering market growth. Appropriate content delivery is critical to the effectiveness of the software, as errors can result in the misinterpretation of emotions. Emotions can either be recorded in the form of facial expressions or speech. Facial expressions must be clear and visible to obtain the best results. The amount of video content uploaded online is increasing day by day. These videos are being created by individuals via smartphones, tablets, and laptops. Capturing the emotions of users can be done using the built-in web cameras and front cameras of smartphones, laptops, and tablets. The image quality varies depending on the amount of light and how the individual focuses the camera or device.

Further, when a person is recording a video on a laptop, he or she tends to focus on the screen, where an inbuilt web camera captures precise expressions. On the other hand, in the case of smartphones, the person may switch from one application to another or shift the angle at which the device is held within a few seconds. Hence, in smartphones, it is difficult for the software to capture the exact emotions of the user, which in turn will inhibit the growth of the market during the forecast period.

Emotion Recognition and Sentiment Analysis Software Market Segmentation By Application

The market share growth by the customer service/experience segment will be significant during the forecast period. ER and SA tools can monitor customer feedback in real-time, allowing businesses to promptly address issues or respond to positive feedback. By analyzing sentiments expressed in customer reviews and feedback, businesses can identify trends and patterns, helping them make data-driven decisions to improve products or services. Understanding customer sentiments enables businesses to personalize interactions based on individual preferences and emotions, leading to more meaningful and engaging customer experiences

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The customer service/experience was the largest and was valued at USD 175.83 million in 2018. Moreover, sentiment analysis provides valuable insights into customer opinions about products and services. This information can guide innovation and improvements based on customer preferences and expectations. Understanding which features or aspects of products are positively or negatively received helps businesses prioritize development efforts. Emotion-aware chatbots and virtual assistants can provide automated responses that are contextually relevant to the customer's emotions, improving efficiency in handling routine inquiries. Understanding the sentiment landscape can help businesses allocate resources more effectively, focusing on areas that require immediate attention. Thus, these factors will drive the market growth analysis of the customer service/experience segment and the global emotion recognition and sentiment analysis software market during the forecast period.

Emotion Recognition and Sentiment Analysis Software Market Segmentation By Deployment

On-premises deployment allows organizations to maintain complete control over their data. This is crucial in legal contexts where confidentiality and data privacy are paramount. Organizations can ensure compliance with data protection regulations and internal privacy policies. ER and SA often involve handling sensitive data, and on-premises deployment provides a higher level of security. Organizations can implement their security measures, control access to the servers, and monitor data in a way that aligns with their specific security protocols. Further, on-premises solutions are not reliant on internet connectivity for core functionality. This can be advantageous in situations where network connectivity is unstable or where legal professionals prefer to have more control over their data access. Thus, these factors will enhance the growth of the on-premises segment and the global emotion recognition and sentiment analysis software market during the forecast period.

Regional Overview

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North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America, particularly the US and Canada, possesses a highly advanced technological infrastructure. The availability of robust internet connectivity and widespread technology adoption create a conducive environment for the deployment and usage of sentiment and emotion analysis software. The region has been at the forefront of adopting AI and ML technologies. ER and SA are integral components of AI applications, and their adoption is fueled by the region's strong emphasis on technological innovation. The North American e-commerce and retail sectors leverage sentiment analysis to understand consumer behaviour, preferences, and sentiments. 

In addition, the financial services sector in North America integrates sentiment analysis to analyze market sentiments, predict trends, and assess investor sentiments. Fintech companies leverage these tools for risk assessment and fraud detection. North American organizations deploy sentiment analysis tools for workplace monitoring, employee engagement, and feedback analysis. This has become particularly relevant with the rise of remote work and the need to gauge employee sentiments in distributed environments. Such factors are expected to drive the regional market growth during the forecast period. 

Emotion Recognition And Sentiment Analysis Software Market Customer Landscape

Emotion Recognition and Sentiment Analysis Software Market forecasts include the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their sentiment and emotion analysis software market growth and trends strategies.

Global Emotion Recognition and Sentiment Analysis Software Market Customer Landscape

Who are the Major Emotion Recognition and Sentiment Analysis Software Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Adoreboard - The company offers emotion recognition and sentiment analysis software namely Adoreboard that provides an overall emotional performance of a dataset

Amazon.com Inc. - The company offers emotion recognition and sentiment analysis software such as Amazon Rekognition that provides accurate facial analysis, face comparison, and face search capabilities.

Amelia US LLC- The company offers emotion recognition and sentiment analysis software such as Amelia conversational AI.

The Emotion Recognition and Sentiment Analysis Software Market  growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• Affectiva Inc.
• Alphabet Inc.
• Apple Inc.
• BirdEye, Inc.
• Creative Virtual Ltd.
• Imperson Inc.
• Infegy
• InMoment Inc.
• International Business Machines Corp.
• Kairos AR Inc.
• Komprehend, Inc
• Microsoft Corp.
• Noldus Information Technology bv
• NVISO SA
• Realeyes OU
• Sentiance NV
• Smart Eye AB

Emotion Recognition and Sentiment Analysis Software Market market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The emotion recognition and sentiment analysis software market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest market trends and analysis and growth opportunities from 2018 to 2028. 

• Application Outlook
  • Customer service/experience
  • Product/market research
  • Patient diagnosis
  • Others

• Deployment Outlook
  • On-premises
  • Cloud-based

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • South America
    • Chile
    • Brazil
    • Argentina 
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Emotion Recognition And Sentiment Analysis Software Market Scope
Report Coverage	Details
Page number	167
Base year	2023
Historic period	2018-2022
Market forecasting period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 14.15%
Market Growth 2024-2028	USD 797.17 million
Market structure	Fragmented
YoY growth 2023-2024(%)	13.21
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 44%
Key countries	US, China, Japan, UK, and Germany
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Adoreboard, Affectiva Inc., Alphabet Inc., Amazon.com Inc., Amelia US LLC, Apple Inc., BirdEye, Inc., Creative Virtual Ltd., Imperson Inc., Infegy, InMoment Inc., International Business Machines Corp., Kairos AR Inc., Komprehend, Inc, Microsoft Corp., Noldus Information Technology bv, NVISO SA, Realeyes OU, Sentiance NV, and Smart Eye AB
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Emotion Recognition And Sentiment Analysis Software Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the size of the market  size and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across North America, Europe, APAC, South America, and Middle East and Africa
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies 

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