Global Emotional Analytics Market to Expand at a 15.6% CAGR between 2019 and 2027

According to a new market research report published by Credence Research, “Emotional Analytics Market (by Technology (Artificial Intelligence, Biometrics & Neuroscience, 3D Modelling, Pattern recognition, Records management, Others), by Application (Customer Experience Management, Competitive Intelligence, Sales and Marketing Management), by Type (Text, Facial, Speech, Video Analytics), by Solution (API & SDK, Mobile and Web Application, Cloud, Others), by End-user (Enterprises, Defense & Security Agencies, Commercial, Industrial, Others (Personal Users)), by Geography (North America, Europe, Asia Pacific, and Rest of the World)) – Growth, Future Prospects, and Competitive Landscape, 2019 -2027”, the global emotional analytics market is expected to expand at a CAGR of 15.6% during the forecast period from 2019 to 2027.

Market Insights

The rising adoption of Big Data analytics and artificial intelligence (AI) are few of the major factors driving the growth of emotional analytics market. Emotional Analytics has grown its importance in industries including call centers, sales and marketing among others. It is often used in call centers as a standalone application or in customer relationship management system, which uses audio mining techniques and correlation engines to monitor caller’s word and emotions.

Based on technology, Biometrics and neuroscience segment is leading the emotional analytics market as it enhances safeguarding of the business operations. With biometric technology becoming more widespread, enterprises and governments are adopting the technology to create a secure, and fast experience for employees when logging into workplace networks and applications. The rapid adoption and application of emotional analytics is expected to propel the growth of the market.

Based on geography, emotional analytics market is dominated by North America region owing its dominance to rapid adoption of artificial intelligence technology and Big Data analytics. North America is trailed by Europe as numerous end-user industry verticals such as defense and security agencies and government among others are rapidly adopting emotional analytics software. The increasing adoption of facial biometrics within various industries such as banking, finance, sales and marketing among others is embarking the growth to a large extent.

Widespread application of Big Data and artificial intelligence are creating broader opportunities for emotional analytics developers. Technology companies involved in developing emotional analytics software are aggressively focusing on development of advanced emotion detection APIs, facial biometric tools and camera-based analytics platforms among others. For instance, Beyond Verbal an Israeli start-up has developed an engine that measures a person’s emotional state 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.

 

OUR Website: Credence Research – Market Research Consulting Firm San Jose (CA) USA

Our Blog:  Home – Target Market Size

Back to top button