NEW YORK, May 16, 2016 /PRNewswire/ -- Emotion Detection and Recognition market to reach USD 22.65 billion by 2020
This study has been done on a global level broadly covering four regions, namely, North America, Europe, APAC, Middle East and RoW, and the market is projected to grow from USD 5.66 billion in 2015 to USD 22.65 billion by 2020, at a CAGR of 31.9% during the period. The market is being driven by factors such as increased focus on affective computing, business intelligence, and growing amount of spatial data as well as prompt availability of analytical tools.
"Law Enforcement, Surveillance, and Monitoring areas are projected to showcase robust growth in the emotion detection and recognition market"
The defense and security agencies require emotion detection technology for surveillance and monitoring purposes. Major implementation of this technology has already been done in the areas of military services such as lie detectors and polygraph tests. The emotion detection technology helps in matching the records in real-time and detecting the stress levels of a criminal. Sightcorp develops unique CrowdSight SDK and performs video and image analysis, which can be used for security and traffic monitoring purposes.
"The APAC region expected to experience extensive growth opportunities in the next few years"
In the rapidly growing economies, such as China and India, the growing demand for enhanced technology implementation, awareness and efforts to standardize the emotion detection and recogniton technology are some of the growth drivers for the market. Additionally, huge population, developing technology hubs, and affluent countries such as South Korea, Japan have further enhanced growth prospects in this region.
Increasing trend of wearable devices, evolution of IoT, along with evolving technologies would encourage tremendous growth opportunities in the next five years. The various key emotion detection and recognition vendors and service providers profiled in the report are as follows:
3. Kairos AR
7. Noldus Information Technology
10. IBM Watson Foundation
The report will help the market leaders/new entrants in this market in the following ways –
1. The report segments the emotion detection and recognition market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across different verticals and regions.
2. This report will help them better understand the competitors and gain more insights to better position their businesses. There is a separate section on competitive landscape, including competitor ecosystem, and mergers and acquisitions. Besides, there are company profiles of 10 players offering services in this market. In this section, market internals have been provided that can put them ahead of the competitors. The report also covers 10 key innovators in the market.
3. The report would help understand the pulse of the market. The report provides information on key market drivers, restraints, challenges, and opportunities.
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