Cloud migration, agility demands, cost efficiency, and network automation propel the Software Defined Networking (SDN) market’s growth.
By software tool, the facial expression and emotion recognition segment accounted for the largest emotion detection and recognition market forecast in 2021.
PORTLAND, ORIGON, UNITED STATES, December 6, 2023 /EINPresswire.com/: Emotion detection and recognition is a process that can be described by three fundamental steps, namely, feature extraction, feature selection, and classification. The feature extraction process involves one or more sensors to measure the representative features of an object. The feature selection module selects more fundamental features from a list of features. Whereas the classification module categorizes the selected features into one of several emotion states, its application includes sign language for communication among the disabled, lie detection, monitoring emotional states or stress levels of subjects, navigating and/or manipulating in virtual environments, and so on.
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Furthermore, substantial growth of the Internet of Things technology, an increase in the popularity of wearable technology, and a tremendous rise in the usage of smartphones drive the global emotion recognition and detection market. Moreover, advancements in technology help the market perform better. However, the high cost of application and functional requirements and misinterpretations in the analysis of emotions restrict the growth of the market. The adoption of cloud-based technology will offer remunerative opportunities for market expansion during the forecast period.
Key Findings of the Study:
► By software tool, the facial expression and emotion recognition segment accounted for the largest emotion detection and recognition market forecast in 2021.
► By region, North America generated the highest revenue in 2021.
► By application, the marketing and advertising segment generated the highest revenue in 2020.
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Depending on the application, the marketing and advertising segment holds the largest share of the emotion detection and recognition market share as they offer positive arousal, consumer behavior insights, emotional marketing, consumer perception, perceived quality of product, and brand awareness, which fuel the emotion detection and recognition industry. In addition, brand recall and recognition, product perception, and purchase decisions are some of the key benefits that boost the adaptation of marketing and advertising solutions. However, other segments, including the e-learning and video games segment, are expected to witness growth at the highest rate during the forecast period, as e-learning and video games offer improved quality of education, reduced travel costs and time, mobility functions, and the freedom to select interested material.
Depending on the end user, the commercial segment holds the largest share of the emotion detection and recognition market as it allows businesses to gain knowledge about how individuals, social circles, communities, or cities feel about particular events, which helps businesses understand consumer behavior, business intelligence, better security, and easy integration. It has been gaining traction in the emotion detection and recognition market. However, the retail segment offers more structured work, efficient work processes, labor cost savings, the creation of more satisfying self-service interactions with customers, an enhanced customer experience, increased productivity, and high security, which have been gaining traction in the emotion detection and recognition market.
Region-wise, the emotion detection and recognition market was dominated by North America in 2020 and is expected to retain its position during the forecast period due to their well-established economies, which allow investments in new technologies. Growth in demand to optimize and bring radical change in the areas of marketing and advertisement by using emotion detection and recognition technology creates remarkable potential in North America. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to factors such as increased public awareness and emerging advanced technologies in countries such as Japan, China, India, Australia, and the rest of Asia-Pacific that contribute to the growth of the emotion detection and recognition industry.
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With the outbreak of COVID-19, the demand for emotion detection and recognition decreased with the incorporation of technological capabilities such as facial recognition, speech and voice recognition, biosensing, machine learning, and pattern recognition. Faces are one of the key ways that we obtain social information about others. They allow people to identify individuals, understand conversational cues, and make judgments about others’ mental states. When the COVID-19 pandemic hit the United States, widespread mask-wearing practices were implemented, causing a shift in the way Americans typically interact. Therefore, it also affected the growth of the emotion detection and recognition market. Furthermore, the rise in usage of facial recognition solutions is due to the continued surge in automation trends and the escalating use of digital services in the software industry to make predictive and prescriptive decisions during the COVID-19 pandemic. As a result of the rise in digital transformation initiatives in the facial recognition market, there is a demand for emotion detection and recognition solutions worldwide.
Leading market players:
► IBM Corporation.
► Affectiva
► Intel Corporation
► Kairos AR, Inc.
► Noldus Information Technology bv.
► NVISO SA.
► Realeyes
► Sentiance NV.
► Sightcorp
► SkyBiometry
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