Emotions analytics (EA) is software that collects data on how people communicate verbally and non-verbally to understand their moods or attitude. In layman's terms, it's a tool for measuring people's emotional reactions to things like customer service, advertising campaigns, or music. Emotion analytics is currently one of the most popular trends in analytics and data collection. These sophisticated tools are used to better understand customers, provide relevant feedback, and make new suggestions for working conditions and teamwork. All this is possible with the advent of AI and deep learning as these futuristic technologies are designed to make customer interactions warmer, and more human. EA tools can track the emotions associated with text and voice communications to determine how people truly feel.

Emotion Analytics Market Report Statistics

• Global emotion analytics market revenue is projected to reach USD 10.7 Billion by 2030 with a CAGR of 16.1% from 2022 to 2030
• North America emotion analytics market share gathered more than 36% in 2021
• Asia-Pacific emotion analytics market growth will record a CAGR of around 18% from 2022 to 2030
• Based on type, the text analytics management sub-segment achieved approx 35% shares in 2021
• Among industry vertical, the retail sub-segment occupied around 30% of shares in 2021
• The increasing advancements for recognition application is a prominent emotion analytics market trend that drives the industry demand

Global Emotion Analytics Market Dynamics

Market Drivers

• Adoption of innovative solutions to enhance customer satisfaction
• Growing demand to understand human behavior 
• Increasing need to improve sales performance
• Surging trend of developing more tailored user experiences

Market Restraints

• Growth in data safety and security concerns
• Absence of government regulations

Market Opportunities

• Increasing demand from AI and big data analytics
• Robust growth in web material

Emotion Analytics Market Report Coverage

Emotion Analytics Market Growth Factors

The growing popularity of learning human behavior is a major factor driving the growth of the emotional analytics market. As a result, the growing demand for recognition applications is propelling market growth. The growing volume of online data will drive demand for the global emotion analytics industry. Similarly, the growing use of wearable devices and the expanding use of mobile and cloud biometric technologies are driving global market demand. However, the growing risks associated with online data theft will always pose a significant challenge to market growth. Furthermore, misinterpretation in emotional analysis would create roadblocks to emotion detection and recognition market growth. Furthermore, the market is expected to benefit from the rapid adoption of artificial intelligence, deep learning, and big data analytics in the coming years.

Emotion Analytics Market Segmentation

The global emotion analytics market is segmented based on type, application, technology, industry vertical, and geography.

Emotion Analytics Market By Type

• Facial Analytics
• Speech Analytics
• Text Analytics
• Video Analytics

Speech analytics will have a significant market share in 2021 and is expected to grow in the coming years. The growing demand for voice-based smart home assistants such as Echo, Alexa, and Google Nest can be attributed to the segment's largest share. Furthermore, users all over the world are using voice commands for Google Search, YouTube search, and messaging apps, which is supporting the growth of the speech analytics sector.

Emotion Analytics Market By Application

• Competitive Intelligence
• Customer Experience Management
• Sales and Marketing Management
• Public Safety And Law Enforcement
• Workplace Management

Based on emotion analytics industry analysis, the customer experience management application will account for a significant market share in 2021. The emotion analytics market derives insights from all customer touchpoints and channels across the organization, including phone calls, texts, video, facial recognition, emails, chats, and social media platforms. However, the sales and marketing management application is expected to gain significant traction during the forecast timeframe of 2022 to 2030 as a result of increased investments to maximize customer sales.

Emotion Analytics Market By Technology

• 3D Modeling
• Artificial Intelligence
• Biometrics and Neuroscience
• Pattern Recognition
• Records management
• Others

In 2021, artificial intelligence dominated the market with a noteworthy share and is projected to continue their dominance throughout the forecasted years from 2022 to 2030. Artificial intelligence is considered as the most efficient technology when linked with human mind and emotions, enabling businesses to get customer insight and improve their services. In addition to that, the integration of AI technologies such as deep learning is also expected to fuel the market demand in the forthcoming years.

Emotion Analytics Market By Industry Vertical

• BFSI
• IT & Telecommunication
• Government
• Healthcare
• Retail
• Others

According to our emotion analytics market forecast, the retail industry will hold a significant market share between 2022 and 2030. With the growing popularity of e-commerce, the retail industry is undergoing a massive transformation. The advent of several e-commerce players has increased competition among online retailers. As a result, these industry players are using emotion analytics to determine their customers' preferences.

Emotion Analytics Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Emotion Analytics Market Regional Analysis

According to the emotion analytics regional analysis, the largest market share is held by North America. The rising investment by various key players in data analytics technologies will spur the North America emotion analytics market. Among North America, the US is focused on adoption of innovative technologies as well as the country homes some of the major retail, BFSI, healthcare, and IT sectors. This factor is also supporting the US emotion analytics market. On the other hand, Asia-Pacific region is poised to record the fastest growth rate CAGR throughout the projected years from 2022 to 2030.

Emotion Analytics Market Players

Some of the leading emotion analytics companies include Affectiva, Apple, Inc., Beyond Verbal, Cogito, International Business Machines Corporation, iMotions, Microsoft Corporation, Neuromore Inc., Retinad Virtual Reality Inc., and Sensum.