BANGALORE, India, May 15, 2024
/PRNewswire/ -- Emotion AI Market By Component (Software,
Service), By Enterprise Size (Large Enterprises, Small and
Medium-sized Enterprises), By Application (BFSI, Healthcare , IT
and Telecommunication, Retail and E-commerce, Government, Media and
Entertainment, Automotive , Others)
The Emotion AI Market was valued at USD
1.8 Billion in 2022, and is estimated to reach USD 13.8 Billion by 2032, growing at a CAGR of
22.7% from 2023 to 2032.
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Major Factors Driving the Growth of Emotion AI
Market:
The growing need for sophisticated HCI technologies in a variety
of industries, such as retail, healthcare, automotive, and customer
service, is the main factor propelling the growth of the Emotion AI
market. Companies are using Emotion AI to improve user experiences
by giving computers the ability to recognize and react to human
emotions more skillfully, which raises consumer happiness and
engagement levels. The market is expanding due to the widespread
usage of wearable technology and smart gadgets that include Emotion
AI for tailored user interactions and health monitoring. The
accuracy and capacities of Emotion AI systems are also being
improved by developments in machine learning, deep learning, and
big data analytics, which is accelerating their adoption.
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TRENDS INFLUENCING THE GROWTH OF THE EMOTION AI
MARKET:
The emotional AI industry is expanding significantly due to the
use of emotional AI software in marketing and advertising by big
businesses. Businesses may better understand the emotions, tastes,
and behaviors of their customers by utilizing sophisticated
algorithms and machine learning techniques. This helps them to
develop marketing campaigns that are highly focused and customized.
Businesses can now optimize content development, customize messages
to elicit certain emotional responses, and ultimately increase
consumer engagement and loyalty with the help of emotional AI.
Demand for emotional AI solutions is rising as more companies
realize the importance of emotional intelligence in marketing
campaigns, which is driving innovation and industry expansion.
As digital technologies spread and become more significant in
online interactions, there is a rising need for improved user
experiences across different platforms and apps. By allowing
real-time emotion recognition and reaction in digital interfaces,
virtual assistants, and customer service interactions, emotion
artificial intelligence (AI) significantly contributes to the
improvement of user experiences. The market is expanding as a
result of companies prioritizing user engagement and happiness,
which is fueled by the use of emotion AI solutions to improve user
experiences.
The wellness and healthcare industries are using emotion AI more
and more, which is propelling market expansion. Emotion AI has the
power to completely transform the way that healthcare is provided
and how patients are treated, from tracking patient emotions and
mental health to customizing treatment regimens and enhancing
caregiver relationships. The need for emotion AI solutions in these
industries is predicted to rise sharply as wellness centers and
healthcare organizations come to understand the benefits of emotion
AI in enhancing patient care and wellbeing.
Emotion AI solutions for tracking, controlling, and promoting
emotional wellness are becoming more and more popular as mental
health and wellbeing become more widely recognized. Emotion
artificial intelligence (AI) is being utilized to give insights,
solutions, and support for those dealing with mental health issues
through everything from virtual mental health aides to apps that
measure mood. The need for emotion AI solutions in this field is
anticipated to rise as societies place a greater emphasis on mental
health and wellbeing, which will fuel market development.
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EMOTION AI MARKET SHARE ANALYSIS:
Over the course of the projection period, the service segment is
anticipated to increase at the fastest rate. Emotion AI services
are being used in more and more sectors.
Over the course of the projection period, Asia-Pacific is anticipated to increase at the
fastest rate. Numerous industries in the area, including
healthcare, banking, government, and telecommunications, are seeing
an increase in cybercrime events. This is projected to present
profitable development prospects for the market in this region.
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Key Companies:
- Microsoft Corporation
- Apple
- Affectiva
- nViso
- Realeyes
- Cipia Vision Ltd
- Cogito Corporation
- Emotibot
- IBM Corporation
- NuraLogix Corporation
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
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