The global emotion detection and recognition market is forecast to reach USD 148.11 Billion by 2026, according to a new report by Reports and Data. With the rising number of smart homes, increasing demand for personal health, and industry 4.0, the interaction between humans and machines has gained significance like never before. It is with the help of a flawless exchange of emotions; the communication between computer and human can be improved. There are various applicability of the emotion detection technology that are propelling the growth of the market. One of the mentionable applicability is in consumer-facing applications, which enable organizations to understand consumer perspective and provide enhanced customer care services effectively. Another such mentionable application is in one-on-one interviews. With the advent of this technology, different companies are using it to select prospective candidates based on their mood and body language. It is by evaluating facial expressions and body language, the employer can forecast the behavioral pattern of a candidate in a particular situation. In regards to region, Europe occupied a prominent market position. The market share held by the region is attributed to the high dependence on electronic network & information systems and associated vulnerability to cybercrimes, which have resulted in an elevated focus on emotion detection technology.

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The report is also inclusive of the financial scenario of the leading companies such as profit margins, revenue contribution, growth rate, sales volume, manufacturing and production costs, and other key statistics. The report offers a thorough analysis of the financial standing, global position, product portfolio and business expansion plans. The report also provides SWOT analysis and Porter’s Five Forces analysis for each market player.

Further key findings from the report suggest
The emotion detection and recognition market held a market share of USD 11.90 Billion in the year 2018 and is forecasted to witness a CAGR of 36.9% during the forecast period.
In context to Software Tool, the facial expression recognition segment generated the highest revenue of USD 5.83 Billion in 2018, with a growth rate of 37.1% during the forecast period. Factors like its diverse application and the effectiveness of this software in understanding the feelings on a human face by utilizing hi-tech image processing software by calculating head orientation, individual characteristics, and gaze direction which contributed to the revenue generated by this segment.
By Application, the Law Enforcement, Monitoring, and Surveillance segment generated the highest revenue of USD 4.40 Billion in 2018, with a CAGR of 37.1% during the forecast period. The revenue generated by the Law Enforcement, Monitoring, and Surveillance segment is the result of a higher occurrence rate of cybercrimes & illegal trespassing.
In context to End-user, the Defense and security agencies segment held the largest market share of 32.0% in 2018, with a CAGR of 37.4% during the forecast period. The application of emotion detection technology in protecting unauthorized access to highly confidential files have resulted in its extensive use in this segment.
In regards to region, Asia Pacific is forecasted to witness the fastest growth rate of 37.6% during the forecast period, which occupied 25.0% of the market in 2018. Growth of the IT sector, development of technological infrastructure and rising investments on national security contributed to the expansion of the market in the APAC region.
Key participants Crowdemotion Ltd., Affectiva, Beyond Verbal, Kairos Ar, Inc., Emotient, an Apple Company, Eyeris, Realeyes, Noldus, Nviso, and Skybiometry and Sightcorp.

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The report focuses on evaluation of the given market in major regions and the countries included in those regions. The report provides details of the market considering the geographical landscape that includes North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa.The report covers assessment of revenue estimations and shares, current market value, future market valuation, market share, revenue growth and market size in each region. It studies production and consumption patterns, import/export, supply and demand ratio, consumer behavior shift, current and emerging trends, and initiatives taken by the key players in each major region.
North America (U.S.A., Canada)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Emotion Detection and Recognition Market Segmentation by:

Software Tool Type Outlook (Revenue, USD Billion; 2020-2026)
Speech and Voice Recognition
Bio-Sensing Software Tools and Apps
Facial Expression Recognition

Technology type Outlook (Revenue, USD Billion; 2020-2026)
Bio-Sensors Technology
Feature Extraction and 3D Modeling
Natural Language Processing [NLP]
Machine Learning
Pattern Recognition
Others

Application Area Type Outlook (Revenue, USD Billion; 2020-2026)
Law Enforcement, Monitoring, and Surveillance
Entertainment and Consumer Electronics
Marketing and Advertising
Medical emergency and healthcare
Others

Service type Outlook (Revenue, USD Billion; 2020-2026)
Consulting and Integration
Storage and Maintenance

End-user Type Outlook (Revenue, USD Billion; 2020-2026)
Defense and security agencies
Commercial
Industrial
Enterprises
Others

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Key Features of the Emotion Detection and Recognition Market Report:
A comprehensive 8 year forecast of the market and its expected growth rate and trends
Analysis of key market drivers and restraining factors
Comprehensive analysis of the key regions of the industry and provides SWOT analysis and Porter’s Five Forces analysis to impart a deeper understanding of the market
Helps in formulating strategic business decisions and investments plans
Strategic recommendations to the established companies and new entrants
Statistical data organized into tables, charts, graphs, diagrams, and info graphics
Includes complete coverage of recent R&D advancements, product launches, and mergers and acquisitions, among others

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