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AI Startups To Boost Emotion Analytics And Tread Organic Growth In The Near Future

The global emotion analytics market size is expected to expand at a high CAGR of 15.6% during the period 2019 to 2023. Rising importance of emotion analytics in the CRM software programs is likely to boost the market growth. Moreover, growing importance of data science in the field of HR and workplace management anticipates in boosting the market growth across the globe.

Emotion analytics is an emerging field wherein insights are gathered to understand customer dynamics  and channels via text, calls, email, social media, and chat platforms. The software uses real-time and historical data and information to understand the patterns of people management. For instance, customer analytics is supported by emotion data wherein customers can share their response in form of rating based on the overall experience. On the organizational side, it helps them with specific data pointers that enable them to understand consumer response for business in order to provide a better customer service based on consumer feedback. Artificial intelligence and virtual reality is gaining a huge adoption in organizations and therefore, the market witness a steep rise in AI startups. 

For instance,Promobot exhibits advertisement materials followed by the past conversation with the users. It increases the adoption of applications supplementing customer loyalty, financial performance, and quality of service. Similarly, Emotibot operates with Artificial Intelligence to gain higher business values. It has the emotion recognition technology with a voice triple human-computer interaction. In addition, Emotibot helps the user to understand speakers emotion and  intentions. 

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The drivers for emotion analytics market are growing dependency on software programs and rise in number of online videos with critical decision making and understanding human behavior is likely to create a niche market. Growing significance of IoT and emotion analytics have been setting market trends.This has not only led towards the commercial success of the software industry but also reflects a better understanding on human emotions. For instance, organizations are positive towards adopting emotion analytics software with a keen interest on understanding employee perception and workplace attitude.

By region, emotion analytics market has been segmented as North America, South America, Europe, Asia Pacific, Middle-East, and Africa. North America holds a high significance throughout the forecast period attributing to the rise in technological developments and growing need of behavioral software analytics in workplace. Moreover, increase in business process outsourcing to study data sets and inference pertaining to employee behaviour and communication is likely to trigger the market growth and regional dynamics.

Some of the key players in emotion analytics market are Martha Tilaar Group, Ivy Beauty, PT Paragon Technology and Innovation, Tanamera Tropical, Wipro Unza Holdings, Muslimah Manufacturing, Colgate Palmolive, and INIKA Cosmetics.
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