The Effects of the COVID-19 Outbreak On Exploration and Production (E&P) Software Market
Emotion detection and recognition is a technology that reads the human facial emotions by using advanced image processing. An emotion recognition and sentiment analysis software can seize human micro-expressions. The software is beneficial primarily for security purposes. Emotion recognition and sentiment analysis technologies have been able to capture a wide range of body languages that remain unnoticed even by humans themselves. Companies have been working on combining refined algorithms with promising image processing techniques that have been developed in the recent years. This approach would help enterprises understand more about how a particular video or an image of a person’s face provides insights about his/her thoughts and emotions.
Initially, emotion recognition and sentiment analysis systems were deployed by surveillance departments and law enforcement agencies to detect polygraph and lie tests. Nevertheless, the range of usage of these technologies has been expanding in several industry verticals such as gaming, research, retail, health care, marketing, and media & entertainment. Thus, the need for sophisticated and advanced technologies to standardize emotion detection is increasing worldwide.
Growing availability of cognitive services, increasing focus on improvement in the country’s competitive intelligence, expanding surveillance sector, and rising number of applications of the software in numerous industry verticals are driving the emotion recognition and sentiment analysis software market. Other factors such as increasing trend of using the wearable and Internet of things (IoT) technology are also promoting growth of the market. However, high functional requirements and application costs associated with deployment of the technology are major challenges that the market is anticipated to face in the near future. However, growing development of the emotion detection technology and rising adoption among end-users offer immense opportunities to vendors operating in the emotion recognition and sentiment analysis software market.
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The emotion recognition and sentiment analysis software market can be segmented based on component, end-user, industry vertical, enterprise size, and region. In terms of component, the market can be classified into software and solutions. The software segment has been sub-divided into cloud software and on-premise software. The services segment has been sub-divided into managed or outsourced services and professional services. Professional services include consulting, integration & implementation, and maintenance & operations.
In terms of end-user, the market has been segmented into commercial, industrial, government, and others (such as personal users). In terms of industry vertical, the emotion recognition and sentiment analysis software market has been segmented into health care, transport & logistics, government & defense, gaming, retail, media & entertainment, and others. Based on enterprise size, the market can be segmented into small- and medium-sized enterprises (SMEs) and large-sized enterprises. The large-sized enterprises segment is estimated to hold the maximum market share throughout the forecast period.
