Adoption of cloud-based technology provides growth opportunity for the market.
PORTLAND , PORTLAND, OR, UNITED STATE, August 2, 2022 /EINPresswire.com/ — Significant surge in the internet of things (IoT), rise in popularity of wearable technology, remarkable growth in the internet penetration, and increase in the use of smartphones among people across the globe are expected to drive the growth of the global emotion detection and recognition market.
On the other hand, extortionate functional requirements and cost of application are expected to hinder the growth of the market to some extent. However, extensive adoption of cloud-based technology is predicted to create ample opportunities for the growth of the industry.
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According to the report published by Allied Market Research, the global emotion detection and recognition market $18.8 billion in 2020, and is projected to reach $103.1 billion by 2030, growing at a CAGR of 18.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
The report offers a detailed segmentation on the global emotion detection and recognition market based on software tools, applications, technology, end-user, and region.
Based on software tool, the facial expression and emotion recognition segment held the largest market share in 2020, garnering more than three-fifths of the total market. The gesture and posture recognition segment, on the other hand, is expected to cite the fastest CAGR of 20.6% during the forecast period.
Based on end-user, the commercial segment held the majority market share in 2020, holding more than one-third of the total market. The retail segment, on the other hand, is anticipated to exhibit the fastest CAGR of 20.4% during the forecast period.
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Based on region, the market across North America held the lion’s share in 2020, garnering nearly two-fifths of the total market. The Asia-Pacific region, on the other hand, is predicted to cite the fastest CAGR of 20.6% during the forecast period.
The key players analyzed in the global emotion detection and recognition industry report include Affectiva, CrowdEmotion, IBM Corporation, Kairos AR, Inc., Noldus Information Technology bv, NVISO SA, Realeyes, Sentiance NV., Sightcorp, and SkyBiometry.
Key Benefits For Stakeholders:
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the emotion detection and recognition market analysis from 2020 to 2030 to identify the prevailing emotion detection and recognition market forecast.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the emotion detection and recognition market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global EDR market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global emotion detection and recognition market trends, key players, market segments, application areas, and EDR market growth strategies.
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