Improvements in homeland security would aid the growth of global emotion recognition market. Steady increase in spending on homeland security allows governing authorities to invest in innovative defense solutions. Current screening methods utilized by transportation and safety associations across the world require human operators to screen the passengers entering the country. The method has met with some challenges in the past with potential offenders being able to bypass the existing systems and cause harm to people and infrastructure of various countries. In coming years, the need for innovative screening solutions would fuel the market for emotion recognition offerings. Emotion recognition helps in analyzing the behavior of humans across various interactions with a designed platform that helps organizations to understand intentions of a person. Users can utilize various hardware, software and services offered by leading market players to assess human emotions for their research or other operations. Other applications of emotion recognition are observed in industry verticals such as consumer goods, media and entertainment, automotive, and healthcare amongst others. In terms of revenue, the global emotion recognition market stood at US$ 599.91 Mn in 2018 and is anticipated to reach US$ 7,204.81 Mn by 2027, expanding at a CAGR of 32.56% during the forecast period. The study analyzes the market in terms of revenue across all the major regions, which is further bifurcated into countries.
“Global emotion recognition market is expected to witness increasing demand from military and public safety organizations. Primary cause for the same is rising expenditure on defense and improvements required on border and homeland security screening procedures.”
The detailed research study provides qualitative and quantitative analysis of the global emotion recognition market. The market has been analyzed from demand as well as supply side. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.
Global Emotion Recognition Market Revenue (USD Million), 2018
Key Findings of the Report:
Emotion Recognition Market: