LONDON--(BUSINESS WIRE)--The global emotion analytics market is expected to post a CAGR of over 17% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The need for enhanced customer management across industries is driving the demand for emotion analytics. Through emotion analytics, brands can connect to customers on a personal and emotional level. Moreover, using emotion analytics enables businesses and brands to analyze any disconnect or disruption between the expected and the real experience of customers. Emotion analytics enables companies to know more about customers opinions on a particular brand and improve their strategies. Therefore, the increasing demand for emotion analytics among businesses and brands will drive the global emotion analytics market during the forecast period.
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As per Technavio, the increasing use of emotion recognition in the automotive sector, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Emotion Analytics Market: Increasing use of emotion recognition in the automotive sector
Emotion recognition is witnessing huge investments from the automotive sector as car manufacturers and OEMs in the automotive industry are increasingly focusing on analyzing the emotions of car drivers to enhance car safety. Such emotion analytics features will be in-built in high-end cars in the near future. Furthermore, emotion analytics is expected to be helpful in building a personalized in-cab experience, which would enhance consumer loyalty to a particular brand. Additionally, the ability to accurately detect emotions is being viewed as a significant enhancement toward the implementation of precise human-machine software and hardware interfaces in vehicles. These features have the potential to enhance the driving experience in cars and public transportation. Therefore, the increasing use of emotion recognition and analysis in the automotive sector will be a key trend during the forecast period.
“The advent of emotion sensing technology in gaming, growing use of emotion analytics for screening employees, and the increasing demand from the media and entertainment industry are some other major factors that are expected to boost the market growth during the forecast period,” says a senior analyst at Technavio.
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Global Emotion Analytics Market: Segmentation Analysis
This market research report segments the global emotion analytics market by application (customer experience management, sales and marketing management, competitive intelligence, public safety and law enforcement, and others), and geographical regions (North America, Europe, APAC, MEA, and South America).
The North American region led the market in 2018, followed by Europe, APAC, MEA, and South America respectively. During the forecast period, the North American region is expected to maintain its dominance and register the highest incremental growth due to the high penetration of advanced technologies in this region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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