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Emotion Analytics Market - Growth, Trends, Forecasts (2020-2025)

  • ID: 5026131
  • Report
  • May 2020
  • Region: Global
  • 120 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Affectiva
  • Beyond Verbal
  • Clarifai
  • Gorilla Technology Group
  • IBM Corporation
  • Lexalytics Inc
  • MORE
The market for emotion analytics is expected to register a CAGR of 10% over the forecast period (2020 - 2025)
  • The traditional market research has utilized techniques such as a survey to understand rational responses. however, responses are driven by emotions that potential convert to actions or behavior are elusive and hard to extract and assess as consumers often do not articulate their emotions
  • As with gaining popularity of language analysis that offers understanding sentiment and market precision added with the adoption of platforms such as IBM Watson that analyses sentiment and emotional content from social media to create receptive targeting group coupled with innovations in sensors, algorithms, the companies are now able to understand the unseen emotion information that plays a vital role in brand rapport and influence the purchase decisions.
  • Organizations are aiding their business-making process by deriving actionable insight from various forms of text sources including emails, product reviews tweets with the help of text analytical tools that leverage advanced technologies such as big data analytics, machine learning, and thereby fuel up the organization' business decisions and help reduce cost.
  • Also with the incorporation of IoTs in industries such as healthcare, retail, automotive, transportation, entertainment, etc. has enabled emotion analytics vendors to leverage the data generated to gain consumer insights.
  • Industries such as Retail are realizing the potential of emotion analytics and are relying on video analytics to understand customer behavior and gain insights by producing customer movement heatmaps and help tackle problems such as retail crime, warehouse planning among others. For instance, Inpixon, an indoor positioning, and data analytics company, announced it is collaborating with the National Anti-Organized Retail Crime Association (NAORCA Worldwide) to combat retail crime.
  • The technology has gained significant amount of focus from the video game companies. Video games are designed to induce a series of emotions in players, with these reactions often being essential for overall enjoyment of the game. Previously, however, creators would have to create a blanket experience for all players, regardless of individual tastes, preferences, and unique responses. With the introduction of emotion detection and analytics, the companies can now focus on the gameplay, which generates huge levels of player engagement. The developers are integrating emotion-detection into the user experience, in order to adjust or tweak sequences in real-time. This has also resulted in more immersive experience for the gamers.
  • For instance, the thriller video game, Nevermind, uses a webcam to monitor the player’s facial expressions. From this, it then alters gameplay, perhaps increasing difficulty or lowering it based on the level of fear or anxiety. It has helped in creating more personalized experience according to different players. This helps the companies to focus on each of their customers individually and, thus, result in consumer delight.
  • Furthermore, Unilever, a consumer goods company analyses the emotional expression of candidates applying for entry-level jobs as they undergo video interviews with stand set of questions being asked, AI algorithm constantly monitors and analyses the facial expressions of candidates as they answer the question and deliver insider report about the personality traits. This has help the company save a significant amount of time spend otherwise in screening.
Key Market Trends

Retail Sector to Hold a Significant Share in Emotion Analytics Market
  • The retail industry across the globe is witnessing revolutionary change with some of the most visible disruptions aided by technology in the retail market. The global retail size is growing at an exponential pace, which is aided by the growth of e-commerce; however, brick & mortar still commands the major market share, but the growth of e-commerce is comparatively fast-paced
  • The emotion AI systems that are deployed within retail stores at high-traffic locations such as aisle end caps, shelves, and entrances/exits and are equipped with sensors that enable it to detect facial expressions of individuals added with computer vision, emotion analytics, and AI they are able to analyze and classify the emotion of shoppers at a given moment. For instance, Australia's shopping center giant is experimenting the emotional analytics by deploying camera sensors atop of the advertising screen that is capable of detecting individuals' faces, gender, record age, and mood.
  • This instance helps the retailers to strategically plan business decisions including product pricing, inventory availability, shelf placement based on emotion insights delivered by the system. For instance, major vendors including Microsoft, Conduent, Affectiva, Google are working on such Emotion AI technology.
  • Additionally, e-commerce vendor Amazon Inc has developed an application which can detect fear on the face by analyzing facial recognition. The company says that stores could use the technology and feed live images of shoppers and track emotional and demographic trends at their retail stores. With the growing adoption of the technology, the industry is expected to hold a prominent share of the global market and demand is expected to increase even further over the coming years.
North America Region is Expected to Drive the Market Demand
  • North America region is expected to hold a prominent share of the market owing to the presence of countries such as the US and Canada, which are home to one of the largest retail markets, R&D investments, demand for IoT, smart wearables, ad spending. Marketers in the region are amongst the global leaders in adopting technologies that enable gaining consumer insights.
  • The US is one of the largest retail markets in the world that drive a significant share of global retail, including e-commerce. With increasing retail sales, the retailers in the region are increasingly spending on ads that target the right segment. The growing sales are enabling retailers to spend more on technologies that enable such capabilities.
  • Additionally, the region is home for an ample number of players in the market including Affectiva, Neuromore Inc, Retinad Virtual Reality Inc, and Eyris among others that primarily rely on the region for its business operations, For instance, In March 2019, Realeyes announced its plans to hire key new executives across its markets in North America and APAC so as to feed the accelerated demand for scalable content intelligence levering its new emotion AI .
  • However, ever since the COVID-19 panic broke out in early in the month of February and the announcement of nation-wide lockdowns malls and retail stores are witnessing a huge dip in footfall and revenue added to it as of April 14, 2020, with the US accounting for the highest number of cases in the world ( 587,173 ) restraints the market growth in the region.
Competitive Landscape

The emotion analytics market is consolidated due to a few players accounting for the major market share. Moreover, due to higher investment and demand for personalized user experiences, market entry for new entrants remains challenging. Some of the key players in the market are Affectiva Inc, IBM Corporation, RealEyes, Clarifai among others.
  • June 2019- Realeyes showcased its new emotion AI technology that uses webcams to capture the emotional engagement and attention of viewers around the world in real-time. The platform offers a dashboard feature that helps marketers to gain insights about the viewers in 3 hours.
  • April 2019 - Affectiva announced that it has closed USD 26 million funding to enhance its emotion and object detection AI for monitoring the vehicle passenger, the funding round was let by Aptiv, an automotive supplier. The company aims to deploy the solution into car safety system to be able to recognize the state of driver's emotions.
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FEATURED COMPANIES

  • Affectiva
  • Beyond Verbal
  • Clarifai
  • Gorilla Technology Group
  • IBM Corporation
  • Lexalytics Inc
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
4.5 Porters Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Assesment of Impact of COVID-19 on the Industry

5 MARKET SEGMENTATION
5.1 Type
5.1.1 Face Analytics
5.1.2 Video Analytics
5.1.3 Speech Analytics
5.1.4 Text Analytics
5.2 Deployment
5.2.1 On-Premise
5.2.2 Cloud
5.3 Application
5.3.1 Competitive Intelligence
5.3.2 Sales and Marketing Management
5.3.3 Public Safety and Law Enforcement
5.3.4 Customer Experience Management
5.3.5 Workforce Management
5.4 End-user Vertical
5.4.1 Automotive
5.4.2 BFSI
5.4.3 Media & Entertainment
5.4.4 Retail
5.4.5 Healthcare
5.4.6 IT & Telecommunication
5.4.7 Other End-user Verticals
5.5 Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 United Kingdom
5.5.2.3 France
5.5.2.4 Rest of Europe
5.5.3 Asia-Pacific
5.5.3.1 India
5.5.3.2 China
5.5.3.3 Japan
5.5.3.4 Rest of Asia-Pacific
5.5.4 Latin America
5.5.4.1 Brazil
5.5.4.2 Argentina
5.5.4.3 Rest of Latin America
5.5.5 Middle East and Africa
5.5.5.1 United Arab Emirates
5.5.5.2 Saudi Arabia
5.5.5.3 Rest of Middle East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 IBM Corporation
6.1.2 RealEyes
6.1.3 Affectiva
6.1.4 Clarifai
6.1.5 Sensum
6.1.6 Beyond Verbal
6.1.7 Noldus Information Technology
6.1.8 Sentiance
6.1.9 Lexalytics Inc
6.1.10 Deloitte Touche Tohmatsu Ltd.
6.1.11 Gorilla Technology Group
6.2 Investment Analysis

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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  • IBM Corporation
  • RealEyes
  • Affectiva
  • Clarifai
  • Sensum
  • Beyond Verbal
  • Noldus Information Technology
  • Sentiance
  • Lexalytics Inc
  • Deloitte Touche Tohmatsu Ltd.
  • Gorilla Technology Group
Note: Product cover images may vary from those shown
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