The emotion recognition and sentiment analysis software market to grow by USD 797.17 million from 2023 to 2028; North America accounts for 44% of market growth – Technavio

NEW YORK, Feb. 5, 2024 /PRNewswire/ — The emotion recognition and sentiment analysis software market size is estimated to grow by USD 797.17 million from 2023 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 14.15% during the forecast period. 

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Emotion Recognition and Sentiment Analysis Software Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on Application (Customer service/experience, Product/market research, Patient diagnosis, and Others), Deployment (On-premises and Cloud-based), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). 

The customer service/experience segment will be significant during the forecast period. ER and SA tools enable real-time monitoring of customer feedback, empowering businesses to promptly address issues and respond to positive sentiments. Analyzing sentiments in reviews helps identify trends, supporting data-driven decisions for product or service enhancements. Understanding customer opinions guides innovation and feature prioritization, leading to personalized and engaging customer experiences. 

Geography Overview
By geography, the global emotion recognition and sentiment analysis software market is segmented into North America, Europe, APAC, South America, and Middle East, and Africa.

•         North America accounts for 44% of market growth. North America, especially the US and Canada, with advanced technological infrastructure and widespread technology adoption, fosters the deployment of sentiment and emotion analysis software. AI and ML adoption, particularly in e-commerce, retail, finance, and workplace monitoring, drives the region’s utilization of these tools for insights and decision-making.

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Emotion Recognition and Sentiment Analysis Software Market – Market Driver

The growing popularity of wearable devices is the key factor driving the market growth. Wearables with sophisticated software can monitor physiological and psychological data, including heart rate, blood pressure, and mood changes. These devices, like wristbands, not only detect moods but also find clinical applications such as anxiety monitoring, painkiller response measurement, and aiding visually impaired and autistic individuals in understanding others’ emotions.

What are the key data covered in this Emotion Recognition and Sentiment Analysis Software Market report?

CAGR of the market during the forecast periodDetailed information on factors that will drive the growth of the Emotion Recognition and Sentiment Analysis Software Market between 2024 and 2028Precise estimation of the Emotion Recognition and Sentiment Analysis Software Market size and its contribution to the market in focus on the parent marketAccurate predictions about upcoming trends and changes in consumer behaviorGrowth of the Emotion Recognition and Sentiment Analysis Software Market industry across North America, Europe, APAC, South America, and Middle East and AfricaA thorough analysis of the market’s competitive landscape and detailed information about vendorsComprehensive analysis of factors that will challenge the growth of Emotion Recognition and Sentiment Analysis Software Market vendors

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ToC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Deployment 

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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SOURCE Technavio