Emotion data is primarily being used in developing strategies for enhancing the customer relationship management (CRM) business.
— The global Emotion Analytics Market was valued at US$ 11.5 Bn in 2018 and is expected to reach US$ 25.3 Bn by the end of the forecast period, growing at a CAGR of 17.1% during the period from 2018 to 2023.
The emotion analytics software programs are mainly used in supporting various organizations with data gathering, data segregation, and data visualization. This emotion analytics software is used as a standalone application or is being built on top of a CRM system that uses the audio mining technique and a connection engine for matching the caller's words with emotions. This software also analyzes the voice tone of a caller and counts the number of a particular word that is repeated, in order to offer added insights on the emotional state of the caller.
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Human emotions are primarily being read and analyzed by gesture, voice, and facial expressions. There are seven emotions that are universally being accepted - joy, anger, contempt, surprise, disgust, sadness, and fear. Emotion analytics is the inspection of verbal and non-verbal communications for understanding the mood and attitude of a person. In the recent time, with the growing use of the internet, people are expressing their sentiments, emotions, and feelings towards any product, person, or object by emojis, text/comments, and likes and dislikes.
The emotion analytics software developers are constantly enhancing the efficiency and functionality of emotion analytics, making it easier to operate. In addition to this, the Emotion Analytics Market is expected to witness growth during the forecast period owing to the increasing penetration of big data and artificial intelligence for a wide range of opportunities in the emotional analytics application. The various technology driven companies with emotion analytics expertise are emphasizing on creating enhanced emotion detection APIs, face recognition tools, and camera-based analytics platforms, and others, which will further fuel the growth of the market.
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Recent Developments in the Emotion Analytics Market:
End-use industry: In February 2018, Linguamatics commenced the integration of their NLP platform at Atrius Health. This integration will help in recognizing and gathering the important and hidden clinical unstructured patient data that is being is estimated to compel other companies to increase the usage of text analytics.
APAC: In July 2018, Seattle airport became the latest to try facial recognition for flight boarding. Lufthansa has boarded nearly 350 passengers onto an Airbus A380, the largest model of passenger airliner in the world, at Seattle-Tacoma International Airport as a part of a pilot project in partnership with the U.S. Customs and Border Protection (CBP).
SAS: In January 2018, SAS launched a new platform for analytics. This new platform will help in enhancing visual data mining and machine learning. In addition to these, it also includes visual text analytics, which facilitates deep learning, forecasting, and text analytics, which is expected to enhance the company’s product portfolio and generate revenue.
Key Questions Answered in the Emotion Analytics Market Report:
• What is the market value of the overall market and its segments?
• What are the key segments and sub-segments in the market?
• Which is the largest sub-segment in each segment in the scope of the study?
• What are the key drivers, restraints, opportunities, and challenges in the market and how are they expected to impact the market?
• What are the attractive segments and geographies to invest in?
• What is the market value and volume at the regional and the country level?
• Who are the key market players and their key competitors?
• Who are the key market players at different stages of the value chain?
• What are the strategies for growth adopted by the key players in the market?
• How does a particular company rank against its competitors with respect to revenue, profit comparison, operational efficiency, cost competitiveness, and market capitalization?
• How financially strong are the key players in the market (on the basis of revenue and profit margin, market capitalization, expenditure analysis, investment analysis)?
• What are the recent trends in the market? (M&A, partnerships, new product developments, expansions)
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Related Reports on Emotion Analytics Market:
Global Emotion Analytics Market Summary Report
Global Emotion Analytics Market Segmentation Report
Global Emotion Analytics Market Regional Report
Global Emotion Analytics Market Competitive Intelligence & Company Profiles Report
Global Emotion Analytics Market Statbook
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