Emotion analytics analyzes video, audio, and text related to a person to understand his/her mood or attitude. Use of emotion-sensing technology with devices such as smartphones and other digital assistants is expected to enhance the functioning of those devices. Emotions have high impact on B2B and B2C decisions of decision makers. For businesses, emotion data is very crucial for analyzing decision maker’s reaction to business ads, marketing campaigns, and company’s product offerings. This is one of the major reasons behind tech giant’s adoption of emotion analytics. Smaller players such as Affectiva and Eyeris are competing with major players by providing facial recognition and emotion analytics like SDKs and APIs.
The use of emotion analytics has been met with several controversies, mainly because companies employing emotion analytics are not disclosing the fact that they record face data without the owner’s permission/knowledge. Also, there are many critics who believe that a person’s facial expressions or body language cannot provide a true picture of a customer’s true emotion since natural language is more complex.
The key players offering emotional analytics solutions globally include:
- Kairos AR
- Beyond Verbal and others
The foremost competitors in the global emotion analytics market have been applying various strategies for making an entry and gaining a foothold in the emotion analytics market. For instance, in January 2016, Apple has acquired Emotient, an artificial intelligence startup focusing on emotion analytics. Emotient is primarily a face analytics company that uses artificial intelligence to scan a person’s face and read the emotions in a fraction of a second.
For instance, in 2015, Kairos acquired IMRSV, a company that worked fervently in emotion analytics. With this acquisition, Kairos released Kairos Emotion Analysis API, Kairos Face Recognition API, Kairos Crowd Analytics SDK, and camera-based analytics software.
According to Infoholic Research, the global emotion analytics market will witness an impressive CAGR of 28.8% during the forecast period 2017–2023. The aim of this report is to define, describe, and forecast the emotion analytics market on the basis of segments, which include types, applications, and regions. In addition, it helps venture capitalists in understanding the companies better and make well-informed decisions. It is primarily designed to provide the company’s executives with strategically substantial competitor information, data analysis, and insights about the market, development, and implementation of an effective marketing plan.
The emotion analytics market is categorized based on three segments – types, applications, and regions.
- Types include video analytics, text analytics, and audio analytics
- Applications include customer service center, market research, automotive, healthcare, education, and others
- Regions include Americas, EMEA, and APAC (Americas include North America and Latin America; EMEA includes Europe, Middle East and Africa; APAC include East Asia, South Asia, Southeast Asia, and Oceania)
- The report comprises an analysis of vendor profile, which includes financial status, business units, key business priorities, SWOT, business strategies, and views.
- The report covers the competitive landscape, which includes M&A, joint ventures & collaborations, and competitor comparison analysis.
- In the vendor profile section, for companies that are privately held, the financial information and revenue of segments will be limited.