Emotion Analytics Market Growing at a CAGR 15.8% | Key Player Affectiva, Beyond Verbal, iMotions, Kairos, Noldus Information Technology – Press Release
“Affectiva (US), Beyond Verbal (Israel), iMotions (Denmark), Kairos (US), Noldus Information Technology (Netherlands), Cogito (US), Tobii (Sweden), Sentiance (Belgium), NVISO (Switzerland), Lexalytics (US), Sensum (UK), IBM (US), Microsoft (US), Google (US), Gorilla Technology (Taiwan), Adoreboard (Antrim).”
Emotion Analytics Market by Type (Text, Facial, Speech, and Video Analytics), Application (Customer Experience Management, Competitive Intelligence, Sales and Marketing Management), Organization Size, Vertical, and Region – Global Forecast to 2024
The global Emotion Analytics Market size to grow from USD 2.2 billion in 2019 to USD 4.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 15.8% during 2019–2024. Need for higher customer satisfaction, rising significance for real-time emotion analytics, adherence to regulatory and compliance standards, and increasing need of emotion analytics software and services to cater to the growing Business Process Outsourcing (BPO) sector are the major factors driving the emotion analytics market.
Customer experience management to account for the largest emotion analytics market size during the forecast period
Emotion analytics provides enhanced customer experience management to companies, for which it analyzes the target customers, and creates and delivers personalized experiences to them, thereby enticing the customers to remain loyal to them. Emotion analytics extracts insights from all customer touchpoints and channels across the entire organization that includes calls, texts, video, facial, emails, chats, and social media platforms. Emotion analytics solutions use historical data and real-time information to identify the patterns and trends of customers, enabling the agent to tailor their words accordingly over the call. The historical data and real-time information help companies in generating offers for the retention of customers, thereby reducing escalations and the termination of services.
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The retail vertical is projected to account for the largest emotion analytics market size during the forecast period
The retail vertical is going through a massive