The Global Sentiment and Emotion Analysis Software Market size is estimated to be USD 18.24 billion in 2019 and is predicted to reach USD 710.14 billion by 2030 with a CAGR of 39.5% from 2020-2030. Sentiment and Emotion Analysis Software is cognitive software which helps in the assessment of human emotion, sentiments and body language which generally remain unnoticed by human beings. Due to the presence of artificial intelligence the software is more accurate. This software helps in the assessment of human emotions and body language for safety issues and also helps in the treatment of various mental disorders such as depression and others.
Market Dynamics and Trends
The technological advancements over the period of time and increased adoption on internet of things coupled with increased use of artificial intelligence are expected to support the market growth. Moreover, increase in safety concerns and wide application of the software for various purposes is expected to promote the growth of sentiment and emotion analysis software market.
The factors such as increase in cognitive services, development in intelligence on an international level, increased use of wearable IoT devices are further expected to anticipate the growth of the market. However, high cost of deployment, high functional requirements and others are expected to hamper the market growth. Furthermore, development in emotion detection technology and increase its use among various end users are expected to create lucrative opportunities in the sentiment and emotion analysis software market.
Market Segmentations and Scope of the Study:
The global sentiment and emotion analysis software market share is analyzed on the basis of component, end user, industry vertical, enterprise size and geography. On the basis of component, the market is segmented into solutions and software. The software is sub segmented into on-premise and cloud based. The services segment is further divided into professional service and outsourced services. On the basis of end user, the market is divided into government, commercial, industrial and others. On the basis of industry vertical, the market is divided into health care, government & defense, transport & logistics, retail, gaming, media & entertainment, and others. On the basis of enterprise size, the market is divided into large-sized enterprises (SMEs) and small- and medium-sized enterprises. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America represents the developed market and holds the major market share over the forecast period. Due to the increased adoption of sentiment and emotion analysis software, increase in intelligence security, and technological advancement are expected to drive the growth of sentiment and emotion analysis software market.
Asia Pacific is expected to develop rapidly with the substantial increase in the market share owing to the presence of developing economies. Furthermore, wide applications in different end users and increased adoption of IoT and artificial intelligence are expected to contribute the growth of sentiment and emotion analysis software market.
The sentiment and emotion analysis software market is competitive and fragmented in nature. Some of the major market players include Apple, Inc., Affectiva, Inc., nViso S.A., Realeyes, Inc., Sentiance, Sightcorp, Tobii AB., Noldus Information Technology and Kairos AR, Inc. among others.
There have been various developments in the sentiment and emotion analysis software market on a global level and helps in the increase in total global market size. For instance, Behavioral research is crucial in neuroscience to understand the relationship between the nervous system and behavioral responses. While new techniques make it easier to study the brain structure, it remains challenging to study the behavioral response, as behavioral observations can be cumbersome and not as objective as desired. The behavioral research will benefit from tools, which provide the objective and quantitative data in an easy, fast and reliable way.
- The sentiment and emotion analysis software market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
- The study comprises a deep dive analysis of the sentiment and emotion analysis software market trend including the current and future trends for depicting the prevalent investment pockets in the market.
- The information related to key drivers, restraints and opportunities and their impact on the sentiment and emotion analysis software market is provided in the report.
- The competitive analysis of the market players along with their market share in the global sentiment and emotion analysis software market.
- The SWOT analysis and Porters Five Forces model is elaborated in the study.
- Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
KEY MARKET SEGMENTS:
- Global Sentiment and Emotion Analysis Software market – By Component
- Professional Service
- Outsourced Services
- Cloud Based
- Global Sentiment and Emotion Analysis Software market – By End User
- Global Sentiment and Emotion Analysis Software market – By Industry Vertical
- Health Care
- Government & Defense
- Transport & Logistics
- Media & Entertainment
- Global Sentiment and Emotion Analysis Software market – By Enterprise Size
- Large-Sized Enterprises (SMEs)
- Small- And Medium-Sized Enterprises
- Global Sentiment and Emotion Analysis Software market –By Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of RoW
- North America