{"product_id":"emotion-detection-and-recognition-edr-market-by-component-software-facial-expression-recognition-speech-voice-recognition-and-services-application-area-end-user-vertical-and-region-north-america-europe-apac-row-global-forecast-to-2027","title":"Emotion Detection and Recognition (EDR) Market by Component (Software (Facial Expression Recognition, Speech \u0026 Voice Recognition) and Services), Application Area, End User, Vertical, and Region (North America, Europe, APAC, RoW) - Global Forecast to 2027","description":"\u003cp\u003eEmotion Detection and Recognition (EDR) Market by Component (Software (Facial Expression Recognition, Speech \u0026amp; Voice Recognition) and Services), Application Area, End User, Vertical, and Region (North America, Europe, APAC, RoW) - Global Forecast to 2027\u003c\/p\u003e\n\n\u003cp\u003eThe global emotion detection and recognition market size is projected to grow from USD 23.5 billion in 2022 to USD 42.9 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 12.8% during the forecast period. The major factors driving the market growth include the global adoption of Al, ML, and deep learning technologies, the increasing need for emotion recognition models by intelligent systems, and the expanding popularity of wearable technology.\u003c\/p\u003e\n\n\u003cp\u003eBy component, the software segment to hold the largest market size\u003c\/p\u003e \n\n\u003cp\u003eWith more competition, image recognition cameras are using more sophisticated hardware and software sensors to recognize product placements more accurately. In the pandemic crisis, picture recognition technology has also been widely adopted in a number of nations. For instance, to identify people and stop the transmission of the virus, Moscow, Russia, and China have implemented image recognition, pattern recognition, and facial recognition technology. As a result, the image recognition market's software component has expanded. In addition to this, several businesses created cutting-edge picture recognition software during the epidemic or have licensed its use. As an illustration, PUX has obtained a license for its FaceU software to support Driver Monitoring System (DMS) for resilience against masked faces. Thus, it can be concluded that these elements fuel the EDR market during the forecasted period.\u003c\/p\u003e\n\n\u003cp\u003eBy Software, facial expression and recognition segment to register the highest CAGR during the forecast period\u003c\/p\u003e\n\n\u003cp\u003eFacial recognition is an integral part of the emotion detection and recognition system, as it helps the identification of emotions gathered from facial expressions and generates real-time results. Facial expression recognition helps identify feature vectors, such as surprise, happiness, sadness, anger, and fear. Therefore, this encourages the adoption of emotion detection technology in interviews. For instance, Unilever is deploying this technology to check the confidence level of the candidate and make decisions on whether the individual will be suitable for client-facing roles. Furthermore, in the marketing and advertisement segment, Kellogg’s uses the emotion detection and recognition technology for branding and advertisement. Based on various ads shown to the group, it analyzes the captured expressions and makes decisions on which advertisement to finalize. These factors would drive the adoption of emotion detection and recognition technology solutions in the facial expression and recognition segment and as a result the facial expression and recognition segment registers the highest CAGR during the forecasted period.\u003c\/p\u003e\n\n\u003cp\u003eBy application area, the medical emergency segment to grow at higher CAGR during the forecast period\u003c\/p\u003e\n\n\u003cp\u003eThe realm of medical emergency greatly benefits from emotion detection and recognition systems. Businesses that operate in this sector combine emotion detection and recognition technology by assessing a person's emotional state of mind, pain, and any medical disorders that may be detected through facial clues, such as autism and depression. As it can identify pain in persons who cannot verbally express it, this technology is a gift to the health sciences. Therefore, the medical emergency segment is anticipated to grow at higher CAGR during the forecast period.\u003c\/p\u003e  \n\n\u003cp\u003eBreakdown of primaries\u003c\/p\u003e \n\n\u003cp\u003eThe study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:\u003c\/p\u003e\n\n\u003cp\u003eBy Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%\u003c\/p\u003e\n\n\u003cp\u003eBy Designation: C-level – 45%, Directors – 35%, and Managers – 25%\u003c\/p\u003e\n\n\u003cp\u003eBy Region: North America – 35%, Europe – 25%, Asia Pacific – 30%, MEA – 5%, Latin America -5%\u003c\/p\u003e\n\n\u003cp\u003eMajor vendors in the global EDR market include NEC (Japan), IBM (US), Microsoft (US), Apple (US), Google (US), Tobii (Sweden), Affectiva (US), Elliptic Labs (Norway), Intel (US), Cognitec (Germany), NVISO (Switzerland), Noldus (Netherlands), GestureTek (Canada), iMotions (Denmark), Numenta (US), PointGrab (Israel), Ayonix (Japan), Pyreos (UK), Eyeris (US), Beyond Verbal (Israel), Kairos (US), Sentiance (Belgium), Raydiant (US), and Sony Depthsensing Solutions (Belgium).\u003c\/p\u003e \n\n\u003cp\u003eThe study includes an in-depth competitive analysis of the key players in the EDR market, their company profiles, recent developments, and key market strategies.\u003c\/p\u003e \n\n\u003cp\u003eResearch Coverage\u003c\/p\u003e\n\n\u003cp\u003eThe report segments the EDR market and forecasts its size by component (software and services), application area (medical emergency, marketing and advertising, law enforcement, surveillance, and monitoring, entertainment and consumer electronics,  and other application areas), vertical (academia and research, media and entertainment, IT and ITeS, healthcare and social assistance, telecom, retail and eCommerce, automotive, BFSI, and other verticals), end user (enterprises, defense and security agency, commercial, industrial, and other end users), and region (North America, Europe, Middle East \u0026amp; Africa, Asia Pacific, and Latin America).\u003c\/p\u003e   \n\n\u003cp\u003eThe study also includes an in-depth competitive analysis of the market's key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.\u003c\/p\u003e\n\n\u003cp\u003eKey Benefits of Buying the Report\u003c\/p\u003e\n\n\u003cp\u003eThe report will help the market leaders\/new entrants in this market with information on the closest approximations of the revenue numbers for the overall EDR market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.\u003c\/p\u003e  \n\n\u003cp\u003eThe report provides insights on the following pointers:\u003c\/p\u003e\n\n\u003cp\u003eAnalysis of key drivers (Adoption of AI, ML, and deep learning technologies worldwide, Rising need for emotion recognition models by intelligent systems, Growing popularity of wearable devices), restraints (Insufficient database and technical problems to lead to discrepancies and false results, High production cost), opportunities (Increasing demand for IoT technology and applications, Increasing government initiatives to leverage benefits of EDR technology), and challenges (Privacy and data breach issues, Ethical issues in EDR technology) influencing the growth of EDR market.\u003c\/p\u003e\n\n\u003cp\u003eProduct Development\/Innovation: Detailed insights on upcoming technologies, research \u0026amp; development activities, and new product \u0026amp; service launches in the EDR market.\u003c\/p\u003e\n\n\u003cp\u003eMarket Development: Comprehensive information about lucrative markets – the report analyses of the EDR market across varied regions.\u003c\/p\u003e\n\n\u003cp\u003eMarket Diversification: Exhaustive information about new products \u0026amp; services , untapped geographies, recent developments, and investments in the EDR market.\u003c\/p\u003e\n\n\u003cp\u003eCompetitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like NEC (Japan), IBM (US), Microsoft (US), Apple (US), Google (US), and Tobii (Sweden), among others in the EDR market strategies.\u003c\/p\u003e","brand":"Public Sector","offers":[{"title":"March, 2023 \/ 317 Pages \/ MCW16263966","offer_id":47704930353458,"sku":null,"price":8580.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/emotion-detection-and-recognition-edr-market-by-component-software-facial-expression-recognition-speech-voice-recognition-and-services-application-area-end-user-vertical-and-region-north-america-europe-apac-row-global-forecast-to-2027","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}