Flourishing Retail and Healthcare Sector in Asia Pacific Would Benefit the Emotion Recognition Market, Which is Set to Grow at a CAGR of 32.56% Over the Forecast Period (2019-2027): Says Absolute Markets Insights
Asia Pacific has become a breeding ground for retail sector owing to increasing spending potential of population coupled with ventures from retail companies into the region. Global emotion recognition market would gain traction, in the region, as companies are using the technology in order to understand the behavior of customers. This is done by application of the technology on various advertisement campaigns and product designs. The data from tests help companies to create products and services that are more appealing to customers. The Asia Pacific region is also housing a rising healthcare sector. Rising healthcare expenditure from governing authorities show a positive trend for emotion recognition solutions. The technology is being implemented across various healthcare domains such as psychotherapy to provide an improved patient care & recovery. Asia Pacific region could leverage emotion recognition for providing the population with an enhanced healthcare solution.
The advancements in healthcare technologies could also allow for the use of emotion recognition in aiding other treatment procedures. 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.
“Rising expenditure across various industries including healthcare and retail, in the Asia Pacific region would fuel the market in coming years. On one hand, while the technology is gaining prominence in patient care & patient recovery, the same, on the other hand, is being utilized for customer behavior study”
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.
Some of the major players operating in the global emotion recognition market are Affectiva, Beyond Verbal, Crowd Emotion Limited, Emotibot Technologies Limited, ENTROPIK TECHNOLOGIES PVT.LTD, Ever Co., Eyeris, Human, iMotions, LIGHTWAVE INC., NEURODATA LAB, Noldus Information Technology, NVISO SA, Q3 technologies, Inc., Realeyes OÜ, Sightcorp, and Ultimate Software amongst others.
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