Emotion Analytics Market is Predicted to touch USD 7032 million by 2027, Registering a CAGR of 15.2% during 2020-2027 | Size, Industry Share, Growth & Global Forecast

Emotion Analytics Market

The Emotion Analytics Market is projected to reach USD 7032 million by 2027, growing at a CAGR of 15.2% over the forecast period (2020-2027).

The factors driving the growth of Emotion Analytics Market includes rapid growth of the OTT platforms, growing number of web content and rising application of emotion analytics software by the Business Process Outsourcing (BPO) companies and increasing emphasis on real-time emotion analytics by the major corporations. According to the report published by Bloomberg, the global OTT Content Market was valued around USD 101.2 billion in 2021 and is projected to expand at a CAGR of 14.5 % during the forecast period (2021-2028), which will boost the Global Emotion Analytics Market in the approaching years. Moreover, the increasing adoption of advanced technologies such as Artificial Intelligence (AI), Big Data, Cloud Computing, and Internet of Things (IoT), growing popularity of wearable devices, increasing investments by the leading players on research and development related activities and rapid urbanization, are some of the additional factors supplementing the Emotion Analytics Market size. As per the data available at Statista, the revenue generated from the sales of wearable devices worldwide has significantly increased from USD 16.07 billion in 2016 to reach around USD 44.43 billion in 2020, which will further push the market growth in the coming years.

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However, the growth of Emotion Analytics Market is hindered due to attributed to high cost of deployment.

The major players operating in the market are Lexalytics, Sensum Co., iMotions, Kairos AR, Inc., Noldus Information Technology bv., Tobii AB, Sentiance NV, NVISO SA, Technology bv. and Cogitocorp.com among others.

Application: Segment Analysis

Based on application, the customer experience management segment is predicted to expand at a significant CAGR over the forecast period because emotion analytics software is extensively used to provide important information regarding calls, email, and chats of the customer, through which companies can make strategic decisions.

Vertical: Segment Analysis

Based on Vertical, the retail segment is anticipated to capture the largest market share over the forecast period. The increasing use of e-commerce platforms by the mobile users and growing emphasis on analyzing customer’s voice for producing valuable insights, are some of the factors responsible for the growth of the segment.

Regional: Segment Analysis

Based on region, the North American region is predicted to capture the largest market share during the forecast period. The increasing application of emotion analytics software in the end-use industries such as BFSI and IT and Telecommunication, rising investments by the major corporation on research and development related activities and high per capita incomes, are some of the factors propelling the market growth in North America.

Market Segmentation

Global Emotion Analytics Market by Type

  • Text Analytics
  • Facial Analytics
  • Speech Analytics
  • Video Analytics

Global Emotion Analytics Market by Application

  • Sales and Marketing Management
  • Customer Experience Management
  • Competitive Intelligence
  • Public Safety and Law Enforcement
  • Workforce Management

Global Emotion Analytics Market by Organization Size

  • Large Enterprises
  • Small and Medium-Sized Businesses (SMBs)

Global Emotion Analytics Market by Vertical

  • Retail
  • BFSI
  • IT and Telecommunication
  • Retail
  • Healthcare
  • Media and Entertainment
  • Government
  • Others

Global Emotion Analytics Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

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