The Europe Emotion AI Market would witness market growth of 22.1% CAGR during the forecast period (2023-2030).
The use of automation trends and wise data in emotional AI technology result in an improvement in production quality. To increase process optimization, emotion detection has thus experienced a surge in demand due to technological advancement in creating autonomous infrastructure. Consequently, several businesses and government agencies utilize cutting-edge technologies to enhance operational efficacy. With the aid of this new technology, customers can use an innovative solution that enables brands to personally connect with customers on an emotional level: AI-based audience segmentation based on their needs.
Emotion AI is widely adopted in retail, e-commerce, and customer service industries to enhance the customer experience. Businesses examine the emotions and comments of their customers to understand better how to modify their products or services to satisfy their needs. This is increasingly used in healthcare to monitor patient emotions, especially in mental health applications. It can help in early detection of emotional distress and offer timely interventions. This is used in HR for employee sentiment analysis, helping employers understand employee satisfaction and engagement.
As per International Trade Administration, the German e-commerce industry is one of the largest in Europe. The number of consumers engaging in e-commerce, internet penetration, and annual expenditures are above the European average. In 2021, total sales reached USD 127.5 billion, a 24 percent increase over 2020. Germany's online population is projected to grow from 62.4 million in 2020 to 68.4 million in 2025. The use of emotion AI in the IT & telecommunication industry in Germany is part of a broader trend of enhancing customer experiences and service quality through technology. Due to these aspects, the market will grow in upcoming years.
The Germany market dominated the Europe Others Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $40.7 million by 2030. The UK market is exhibiting a CAGR of 21.9% during (2023 - 2030). Additionally, The France market would experience a CAGR of 24.1% during (2023 - 2030).
Based on Component, the market is segmented into Software, and Service. Based on Enterprise Size, the market is segmented into Large Enterprises, Small & Medium-sized Enterprises. Based on Vertical, the market is segmented into Retail & E-commerce, BFSI, Media & Entertainment, Healthcare, IT & Telecom, Government & Defense, Automotive, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Emotion AI Market will Hit $8.2 Billion by 2030, at a CAGR of 22.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Cogito Corporation, Eyeris Technologies, Inc., Apple, Inc., Smart Eye A/S (Affectiva, Inc.), NuraLogix Corporation, Realeyes OU, NVISO SA, and Emotibot Technologies Limited
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