Published June 13, 2023
The research seeks to Emotion Detection and Recognition (EDR) Market size and future growth potential across various segments, including deployment modes, end users, and geographic locations. The base year used to Emotion Detection and Recognition (EDR) Market size ranges from 2023 to 2029.
The secondary research component of the study technique utilized to assess and forecast the Emotion Detection and Recognition (EDR) Market involved gathering information on important vendor revenues. As part of the market segmentation process, vendor offerings were also taken into account. By using the revenue of the major market participants as a starting point, the bottom-up methodology was used to determine the overall market size of the global market. After determining the overall market size, the market was divided into a number of segments and sub-segments. These segments and sub-segments were then validated through primary research by conducting comprehensive interviews with key individuals, such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown techniques were used to finish the entire market engineering process and to determine the precise statistics for all segments and sub-segments.
The main competitors in the Market are:
The Emotion Detection and Recognition (EDR) Market ecosystem consists of service providers. such as Emotient Inc. (Apple, Inc.), Affectiva Inc., Tobii AB (Publ), Realeyes OU, Noldus, Kairos are some of the key players in the global market.
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Emotion Detection and Recognition Market Dynamics:
Table of Contents
Driver: Growing popularity of wearable devices
Skin-conductance sensors are widely used by psychologists and therapists in clinics, hospitals, and other settings. Additionally, bracelets now have emotional components as a result of the Internet of Things (IoT). These emotion-based sensors are simple to use and moderately priced and have a wide range of applications. They can be used to monitor and analyze physical health, access responses to stressful events, and enhance how people deal with stress and anxiety. Emotional Artificial Intelligence (AI)-supported hardware and software may detect and analyze eye movements, facial expressions, voice changes, and more, in addition to monitoring and analyzing skin conductance, breathing, and heart rate. They do not require costly hardware, but rather the installation of some recognition software or new code for PCs or cellphones.
Restraint: High production cost
EDR system manufacture is much expensive and the subsequent return on investment is less substantial, making it difficult for organizations with limited financial resources to use the platform. The bulk of supporting technologies, such as wearable computing and gesture recognition, have high development costs, posing a barrier to the industry’s growth. One of the primary challenges to organizations implementing these solutions and services is the expense of educating Al enablers to perform a certain task. Understanding and triggering human emotions is a variable that requires substantial programming, training, and debugging methods. The financial expense of implementing emotion detection technology solutions and the cultural understanding of human society is huge and complicated, leading to a slow adoption rate during the forecast period.
Opportunity: Increasing government initiatives to leverage benefits of EDR technology
Emotion detection technology is becoming increasingly popular with businesses and governments all over the world. For instance, the UK government is utilizing Al to identify and gauge residents’ emotions on social media. Additionally, government agencies and EDR organizations are creating councils, defining new norms and rules, and constructing frameworks to implement Al governance solutions. Corporations have organized committees to identify risk issues for Al technology, and local governments and industrial clusters have invested in Al technology and organized committees to perform in-depth investigations on the ethical usage of Al. For instance, in March 2021, the French government funded USD 2.4 billion for Al technology development and organized an international study committee in conjunction with Canada to investigate the consequences and new potential of Al technology.
Challenge: Ethical issues in EDR technology
EDR has been operating for a while, but it has recently come under scrutiny. This is mostly due to the ethical problems that customers and technology developers are becoming increasingly aware of. Scepticism is mostly motivated by inefficiencies and biases in EDR models. This technology is immensely divisive, especially in the realm of law enforcement. Several cases of wrongful incarceration may be traced back to defective facial and emotion detection technologies. As a result, many firms have abandoned EDR, while others are unwilling to adopt it. For instance, following the George Floyd case, IBM stopped providing face and emotion recognition software to law enforcement groups for mass monitoring or racial profiling. After IBM’s announcement, Amazon set a one-year embargo on the use of face and EDR technology. Similarly, Microsoft prohibited the police from using their facial recognition technology until new government regulations and policies were enacted.
What Information does this report contain?
Historical data coverage: 2017 to 2022;
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.
Global Emotion Detection and Recognition (EDR) Market by Software Tool Segment, 2023 -2028, (in USD million)
- Facial Recognition,
- Speech and Voice Recognition,
- Bio Sensors
Global Emotion Detection and Recognition (EDR) Market by Technology Segment, 2023 -2028, (in USD million)
- Machine Learning
- Artificial Intelligence
Global Emotion Detection and Recognition (EDR) Market by End-Use Industry Segment, 2023 -2028, (in USD million)
- Health Care
The research highlights important participants and manufacturers as well as the most recent tactics, including new product releases, collaborations, joint ventures, technology, segmentation of regional and industrial competitiveness, profit and loss ratios, and investment suggestions. a precise evaluation of efficient production and advertising methods, as well as market share, growth rate, size, revenue, and value chain analysis.
The “World Emotion Detection and Recognition (EDR) Market Research Report” is an in-depth analysis of the global industry with a focus on the current situation of the global Emotion Detection and Recognition (EDR) Market. The research provides important data on the worldwide Emotion Detection and Recognition (EDR) Market’s manufacturers market state and is a great resource for businesses and people interested in the sector.
The Emotion Detection and Recognition (EDR) Market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
North America: The U.S., Canada, Mexico
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
Middle East and Africa: Israel, South Africa, Saudi Arabia
Key Benefits for Stakeholders
- This study comprises analytical depiction of the global Emotion Detection and Recognition (EDR) Market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall Emotion Detection and Recognition (EDR) Market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current Emotion Detection and Recognition (EDR) Market forecast is quantitatively analyzed from 2023 to 2029 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers of the Emotion Detection and Recognition (EDR) Market.
- The report includes the Emotion Detection and Recognition (EDR) Market trends and the revenue share of key vendors.
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Reasons to Purchase the Emotion Detection and Recognition (EDR) Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Furthermore, the market Research affirms the major global players in the Global Emotion Detection and Recognition (EDR) Market. Their key marketing strategies and advertising techniques have been highlighted to offer a clear understanding of the Global Market.
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