What are the Historical Developments and Current Growth Metrics of the Emotional AI Market?
The emotional ai market has seen considerable growth due to a variety of factors.
• The market size for emotional ai has significantly expanded in the last few years. The figures are expected to rise from $30.02 billion in 2024 to $32.91 billion in 2025, showing a compound annual growth rate (CAGR) of 9.6%.
The growth recorded during the historic period can be traced back to heightened competitive tension, market unpredictability, efficiency improvements, customer-oriented strategies, and the embrace of devops practices.
What Does Future Hold for The Emotional AI Market By 2029?
The emotional ai market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of emotional ai is projected to experience robust growth in the upcoming years. The forecast suggests that it will amplify to $47.54 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.6%.
This growth during the anticipated period may be due to factors such as heightened focus on employee experience, regulatory shifts and compliance, alignment with business strategy, quick market adaptations, and resilience planning. Key trends expected during the forecast period encompass cybersecurity issues, consistent technological advancements, globalization, remote teamwork, digital transformation endeavors, and the adoption of agile tools and technologies.
What Are The Primary Growth Drivers In The Emotional AI Market?
The emotional AI market is expected to thrive due to the growing desire for improved customer experience. Customer experience (CX) encompasses all points of interaction between a customer and a brand, from the initial brand awareness to the post-sale service. Businesses are acknowledging the importance of superior customer experiences as a means to stand out, build customer brand loyalty and fulfilling the consumer expectations for intuitive and individualized interactions. Emotional AI is used in customer experience to comprehend and reply to customer sentiments, enhancing these interactions by evaluating responses, products and services in order to cultivate a more personalized and emotionally connected experience, ultimately improving customer loyalty and satisfaction. A survey by Verint, a customer engagement solutions company based in the US as of June 2022, found that 39% of over 2000 respondents aged 18-75 would discourage family and friends to not buy products from a company with whom they had a negative customer experience, 64% stopped doing business with such companies, and 79% of the respondents under 45 years agreed of the importance of having a good experience on digital platforms. Hence, the rising need for a superior customer experience is fuelling the growth of the emotional AI market.
What Is The Segmentation Of The Global Emotional AI Market?
The emotional ai market covered in this report is segmented –
1) By Component: Software, Service
2) By Tools: Facial Recognition, Speech And Voice Recognition, Gesture And Posture Recognition
3) By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises
4) By Application: Banking Financial Services And Insurance (BFSI), Healthcare, IT And Telecommunication, Retail And E-commerce, Government, Media And Entertainment, Automotive, Other Applications
Subsegments:
1) By Software: Emotion Recognition Software, Sentiment Analysis Tools, Facial Recognition Software, Speech And Voice Analysis Software
2) By Service: Consulting Services, Integration Services, Support And Maintenance Services, Training And Development Services
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What Trends Are Shaping The Emotional AI Market?
Leading firms in the emotional AI sector are prioritizing the creation of solutions aimed at customizing customer experiences according to their emotional requirements, such as AI instruments and software. These AI applications, designed to comprehend users' emotional needs, employ technology that scrutinizes user actions, attitudes, and conversations to offer experiences and responses that align with their emotional condition and tastes. For example, AB Tasty, a software development firm based in France, unveiled EmotionsAI in September 2023 – an AI tool made to identify users' emotional needs. This innovative solution empowers brands to tailor customer experiences by comprehending their emotional requirements. It organizes visitors into ten distinct groups based on their interaction with a business's website. Collectively these features empower brands to grasp and meet the emotional requirements of their visitors, thereby enhancing the customer experience and possibly leading to raised conversion rates and increased income.
Who Are the Key Players In The Emotional AI Market?
Major companies operating in the emotional AI market report are:
• Apple Inc.
• Alphabet Inc.
• Microsoft Corporation
• Sony Group Corporation
• Panasonic Corporation
• Intel Corporation
• International Business Machines Corporation (IBM)
• Latent View Analytics Ltd.
• Nvidia Corporation
• NEC Corporation
• Baidu Inc.
• UiPath Inc.
• Cogito Corporation
• Tobii Technology AB
• Gorilla Technology Group
• Noldus Information Technology
• Entropic Technologies
• Affectiva Inc.
• Realeyes OÜ
• Lexalytics Inc.
• Beyond Verbal Communication Ltd.
• iMotions A/S
• Sentiance NV
• NuraLogix Corporation
• NVISO Inc.
• Kairos AR Inc.
• Sensum
• MetaSoul Inc
What Are The Regional Insights Into The Emotional AI Market?
North America was the largest region in the emotional AI market in 2024. The regions covered in the emotional ai market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
