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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• Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial  – buy the report!

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 period
• Detailed information on factors that will drive the growth of the Emotion Recognition and Sentiment Analysis Software Market between 2024 and 2028
• Precise estimation of the Emotion Recognition and Sentiment Analysis Software Market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Emotion Recognition and Sentiment Analysis Software Market industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive 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

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio