Global Emotion Analytics Market Insights Forecasts to 2033

• The Global Emotion Analytics Market Size was Valued at USD 3.45 Billion in 2023.
• The Market Size is Growing at a CAGR of 15.1% from 2023 to 2033.
• The Worldwide Emotion Analytics Market Size is Expected to Reach USD 14.08 Billion by 2033.
• Asia Pacific expected to grow the fastest during the forecast period.

The Global Emotion Analytics Market Size is Anticipated to Exceed USD 14.08 Billion by 2033, Growing at a CAGR of 15.1% from 2023 to 2033.  

Market Overview

Emotion analytics is a type of software that collects information on how the individual communicates both verbally and nonverbally to understand the person’s attitude or mood. To analyze a person's emotion large amount of labelled emotion data is required for the improvement of emotion analytics software. The software, also referred to as emotional analytics, provides insights into a consumer's opinions on a product, its presentation, or its experiences with a customer service representative. The information is utilized to generate plans that will improve the business's management of client relationships. By integrating emotion analytics into mobile applications and devices, it is anticipated that the introduction of emotion analytics into the market would change the nature of human-machine interaction. Any business can benefit from the data collection, classification, analysis, and presentation provided by emotion analytics software solutions. Emotion analytics software is widely used in call centers. These emotion analytics programs use voice data mining algorithms and an analysis engine to correlate a caller's phrases with emotions. They can be used as a stand-alone program or incorporated on top of a customer relationship management (CRM) system.

Report Coverage

This research report categorizes the market for the global emotion analytics market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global emotion analytics market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global emotion analytics market.

Driving Factors

The growth factors associated with the emotion analytics market consist of the desire for personalized consumer experiences, the enhanced use of digital channels for brand promotion and communication, and the acceptance rate of AI and machine learning technologies. The need for the global emotion analytics market will be driven by the increasing amount of digital data. Similarly, this, demand for biometrics technologies for smartphones and cloud computing, as well as wearable technology is driving the global market. The video game business has made the use of emotion analytics a popular practice. To learn about client attitudes and feelings, companies in the emotion analytics market are now placing an intense focus on integrating these features into a variety of programs and software. Businesses can use this software to evaluate and understand the emotions of gamers in real time, including their responses, feelings (such as joy, rage, or terror), facial expressions, and behavior during the entire game. The automotive industry is accepting next-generation technology by integrating systems based on artificial intelligence into automobiles. To allow emotion detection capabilities in cars wherein the installed software reacts rationally to the emotions generated by the driver automakers are concentrating on research and development (R&D). By detecting the driver's level of attentiveness and facilitating touch, eye movement, and gesture recognition, the program lowers the probability of traffic accidents.

Restraining Factors

A review of emotional misconceptions somewhat hampers market development. Improvement in the industry may be severely hindered by the high initial cost of developing and implementing Emotion Analytics solutions, particularly for large-scale programs. concern regarding governmental regulations and policies, such as modifications of tax advantages or subsidies, can hamper market growth and promote investor worries.

Market Segmentation

The global emotion analytics market share is classified into type, technology, and end-users.

• The speech analytics segment is expected to grow at the fastest pace in the global emotion analytics market during the forecast period.  

Based on the type, the global emotion analytics market is divided into face analytics, speech analytics, text analytics, and video analytics. Among these, the speech analytics segment is expected to grow at the fastest pace in the global emotion analytics market during the forecast period. The enhanced use of voice-based smart home devices or assistants like Google Nest and Amazon Echo supports the growth of speech analytics over the forecast period. With smartphones and smart home devices, more and more individuals are using voice search on the internet.

• The artificial intelligence segment is expected to grow at the fastest pace in the global emotion analytics market during the forecast period.   

Based on the technology, the global emotion analytics market is divided into pattern recognition, 3D modeling, biometrics & neuroscience, artificial intelligence, record management, and others. Among these, the artificial intelligence segment is expected to grow at the fastest pace in the global emotion analytics market during the forecast period. Artificial intelligence is recognized as the most effective technology in terms of regards connecting with human thoughts and emotions. This allows businesses to gain valuable customer knowledge and enhance their offerings. Furthermore, it is anticipated that the market's demand will increase in the next few years due to the incorporation of AI technologies like deep learning.

• The retail segment is expected to hold the largest share of the global emotion analytics market during the forecast period.  

Based on end-users, the global emotion analytics market is divided into BFSI, media and entertainment, automotive, IT and telecommunication, retail, healthcare, and others. Among these, the retail segment is expected to hold the largest share of the global emotion analytics market during the forecast period. The global preference for e-commerce over traditional physical stores is predicted to drive significant growth in the retail sector over the projection decade. The competition amongst different emerging e-commerce businesses to rule the market and expand their customer base is growing. Online businesses are using emotion analytics more and more to generate insights by listening to customers' voices and identifying the newest trends and customer preferences. These are the main drivers behind the rise of the retail segment.

Regional Segment Analysis of the Global Emotion Analytics Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global emotion analytics market over the predicted timeframe.

North America is anticipated to hold the largest share of the global emotion analytics market over the predicted timeframe. The increase is being driven by the need for emotion identification technologies in sectors including marketing, retail, and healthcare. Emotion analytics improves employee participation, customer satisfaction, and operational effectiveness in several sectors. The affordability of modern innovations like voice and facial identification, an increasing focus on customer-centric addresses across industries, and the widespread adoption of AI and machine learning are all factors driving the growth of the emotion analytics market in North America. One of the biggest retail markets in the world, the US contributes significantly to global retail, especially e-commerce. Regional retailers are investing more in advertisements that target the appropriate market group as a result of rising retail sales. Retailers can invest more in technologies that facilitate these kinds of capabilities because of the increasing sales. Concerning IoT, North America is among the biggest markets, both for consumers and for businesses. IoT connections in the area are anticipated to reach 5.9 billion by 2025, according to GSMA intelligence. It is anticipated that this growth will help marketers obtain real customer data and increase ad training.

Asia Pacific is expected to grow at the fastest pace in the global emotion analytics market during the forecast period. The development of the market in the region is being driven by the government and BFSI, among other businesses, using facial biometrics more frequently and better IT infrastructure.  The region's offering emotion analytics Market outlook is influenced by several factors, including the developing service industries in China and India, rising rates of digitization, an increase in the number of contact centers, government support for the implementation of biometrics, robust technology penetration, and the presence of dynamic economies like Singapore, South Korea, Japan, Malaysia, Thailand, and China. Throughout the forecast period, the market will increase as a result of the APAC region's rapid industrialization, increased company competitiveness, and focus on providing outstanding customer service.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global emotion analytics along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• IBM Corporation
• Beyond Verbal Communication
• NVISO SA
• adoreboard
• iMotions A/S
• Microsoft Corporation
• Apple, Inc.
• Affectiva
• RealEyes OU
• Clarifai Inc.
• Sensum Co.
• Cogito
• International Business Machines Corporation
• Neuromore Inc.
• Retinad Virtual Reality Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In September 2023, Affectiva, a subsidiary of Smart Eye, unveiled a novel attention gauge within its Emotion AI platform hosted in the cloud. This metric, enhanced by Smart Eye's cutting-edge eye-tracking technology tailored for automotive safety standards, signifies a notable advancement in assessing viewer attention for brands, advertisers, entertainment entities, and their research teams. This distinct and thorough assessment scrutinizes both gaze and head orientation, providing unmatched precision and valuable insights.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global emotion analytics market based on the below-mentioned segments:

Global Emotion Analytics Market, By Type

• Face Analytics
•  Speech Analytics
•  Text Analytics
•  Video Analytics

Global Emotion Analytics Market, By Technology

• Pattern Recognition
• 3D Modeling
• Biometrics & Neuroscience
• Artificial Intelligence
• Record Management
• Others

Global Emotion Analytics Market, By End-Users

• BFSI
• Media And Entertainment
• Automotive
• IT And Telecommunication
• Retail
• Healthcare
• Others

Global Emotion Analytics Market, By Region

• North America
  • US
  • Canada
  • Mexico 
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa