Global Emotion AI Market Size Study, by Component, by Enterprise Size, by Application, and Regional Forecasts 2022-2032

Global Emotion AI Market is valued at approximately USD 2.21 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 22.91% over the forecast period 2024-2032. Emotion AI, also known as affective computing, is a subset of artificial intelligence that interprets and responds to human emotions. This technology encompasses natural language processing (NLP), sentiment analysis, voice emotion AI, and facial movement analysis, deriving emotional insights from text, audio, and video sources. Emotion AI's applications span various industries, enhancing capabilities in marketing, healthcare, finance, and more, by offering real-time emotional analysis. The trend towards integrating emotion AI with emerging technologies like IoT, cloud computing, and advanced analytics, driving innovation and expanding application areas. For instance, AB Tasty's launched its EmotionsAI that highlights the potential of AI-based audience based on emotional needs in 2023, paving the way for personalized customer experiences and boosting market growth.

The emotion AI market is experiencing robust growth driven by rapid advancements in AI and machine learning technologies, coupled with increased adoption of biometrics and facial recognition systems. These technologies enable computers and devices to detect, interpret, and respond to human emotions based on facial expressions, voice tones, and gestures. Organizations across various industries, including healthcare, retail, automotive, and entertainment, are leveraging emotion AI to enhance customer experiences, personalize interactions, and improve service delivery. For instance, in healthcare, emotion AI helps in patient monitoring and mental health assessment, while in retail, it optimizes customer engagement and feedback analysis. The integration of biometrics and facial recognition with emotion AI enhances security systems, enabling more accurate identification and authentication processes. Moreover, advancements in AI algorithms continually refine emotion recognition capabilities, making them more reliable and versatile. As these technologies become more sophisticated and accessible, the demand for emotion AI solutions is expected to grow further, driving innovation and transforming how businesses and individuals interact with technology in a more intuitive and responsive manner. Furthermore, the rising usage of emotion detection solutions across diverse industries propels market expansion. However, the high cost associated with application development and data management poses challenges to market growth.

The key regions considered for the Global Emotion AI Market study include Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. In 2023, North America held the dominant share in the emotion AI market, driven by the strong presence of large enterprises and government organizations prioritizing data safety and compliance. North America is home to a thriving tech ecosystem with a concentration of leading AI companies, research institutions, and startups specializing in emotion recognition technologies. These entities drive innovation and set industry standards, attracting substantial investments in AI-driven solutions. Industries in North America, including healthcare, retail, automotive, and entertainment, are early adopters of emotion AI applications. These sectors leverage emotion recognition to enhance customer experiences, personalize services, and optimize operational efficiencies. For instance, in healthcare, emotion AI aids in patient care by analyzing emotional cues and responses, while in retail, it improves marketing strategies and customer satisfaction. Furthermore, Asia-Pacific is projected to exhibit the highest growth during the forecast period 2024-2032, attributed to the rising number of cyberattack incidents and the increasing demand for advanced emotion AI solutions across various industries in the region.

Major market players included in this report are:

• Affectiva
• IBM Corporation
• Microsoft Corporation
• Beyond Verbal
• Kairos
• Noldus Information Technology
• Realeyes
• Sentiance
• Sightcorp
• CrowdEmotion
• Cognitec Systems
• Eyeris
• NEC Corporation
• Nuance Communications
• Tobii AB

The detailed segments and sub-segment of the market are explained below:

By Component:

• Software
• Service

By Enterprise Size:

• Large Enterprises
• Small and Medium-sized Enterprises

By Application:

• BFSI
• Healthcare
• IT and Telecommunication
• Retail and E-commerce
• Government
• Media and Entertainment
• Automotive
• Others

By Region:

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA

Years considered for the study are as follows:

• Historical year - 2022
• Base year - 2023
• Forecast period - 2024 to 2032

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.