The global emotion detection and recognition market size is projected to grow from USD 23.5 billion in 2022 to USD 42.9 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 12.8% during the forecast period. The major factors driving the market growth include the adoption of IoT, AI, ML, and deep learning technologies across the globe, growing demand for emotion recognition models by intelligent systems, and rising popularity for wearable devices.
Trend: Facial Emotion Recognition Using Machine Learning
Facial recognition has existed for a long time and with advancements in technology, human mood may be roughly predicted from facial expressions and brain activity that have been recorded in video, electric signal (EEG), or picture form. Human emotion recognition is the need of the hour so that cutting-edge artificial intelligence systems can mimic and predict facial expressions. Making educated judgments about the determination of purpose, the advertising of offerings, or security-related dangers might benefit from this. While recognizing emotions from photos or video is a simple operation for the human eye, it is extremely difficult for computers to do and necessitates the use of several image processing algorithms for feature extraction. For this task, a variety of machine learning techniques are appropriate. Machine learning algorithms must first be trained before being tested against an appropriate dataset for any detection or recognition.
Trend: Facial emotion recognition in content moderation
Facial recognition technology is useful for social media because it allows websites to swiftly identify violent or improper photographs that are posted on their pages. One of the biggest social media platforms, Tumblr, for instance, has prohibited several types of improper content from its website, including pornographic images, videos, and graphics. Face recognition guarantees that future occurrences of this kind are less likely. The program can assess the visual content of images and guess the age and gender of the participants owing to image recognition skills.
Another facial recognition feature for social media was launched by Facebook a few years ago. The face recognition software gives users the option to "tag" all of the individuals in their digital photo albums with a single click, linking their accounts to the images. Facebook built one of the largest repositories of digital photos in the world (although this system was later shut down due to public scrutiny).
Opportunity: Increasing demand for IoT technology and applications
The Internet of Things (IoT) technology makes it simpler to monitor and respond to all devices depending on a person's emotions, mood, and actions. Certain equipment, such as sensor input that affects the output of an industrial process at a remote location, communicate with one another without the requirement for human contact. The usage of loT applications is now increasing due to digital processes, productivity, cost savings, dependable data collecting and analysis, and other aspects. EDR technology may therefore be linked with loT applications to collect physiological, behavioral, and response data and responses for analysis and automated replies. As a consequence, better decisions will be made, making processes more efficient. According to DataProt's 2022 projection, there will be 25.4 billion active loT devices by 2030, connecting 152,200 times per minute by 2025. Therefore, by 2025, the potential economic value of loT solutions would reach USD 4-11 trillion. Moreover, IoT technology has enhanced corporate efficiency by 83%, and global loT investment will equal USD 15 trillion between 2019 and 2025. These results suggest that loT applications are increasing across the board, and the market for EDR will rise as a result of the rising number of loT applications. possesses a context menu.
NEC (Japan), IBM (US), Microsoft (US), Apple (US), Google (US), Tobii (Sweden), Affectiva (US), Elliptic Labs (Norway), Intel (US), Cognitec (Germany), NVISO (Switzerland), Noldus (Netherlands), Gesturetek (Canada), iMotions (Denmark), Numenta (US), PointGrab (Israel), Ayonix (Japan), Pyreos (UK), Eyeris (US), Beyond Verbal (Israel), Kairos (US), Sentiance (Belgium), Raydiant (US), and Sony Depthsensing Solutions (Belgium) are the key players and other players in the EDR market.
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