The Incredible Growth of Emotion Analytics Industry 2021

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. 

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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 market.

Emotion analytics market 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.