Technology Market report: October 2023

Wednesday 25 October 2023

Emotion Detection And Recognition Market: Industry Demand, Analysis and Future Trends 2030

The global Emotion Detection And Recognition Market size are anticipated to reach USD 136.46 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 16.7% from 2022 to 2030. The increasing demand for emotional intelligence across sectors and the growing use of emotion detection and recognition solutions among businesses are driving the demand for emotion recognition software.

However, privacy concerns over data harvesting are projected to limit the market expansion to some extent. The growing use of voice-driven and gesture-driven navigation systems and workstations propels growth in the software and hardware segments. Furthermore, substantial development in IoT-based technologies, amplified adoption of wearable technologies, and immense growth in the use of smartphones are also fostering the growth of the market.

Emotion detection and recognition techniques are widely utilized to gauge consumer satisfaction through video evaluation and image processing. It can identify a customer's mood in a variety of demographic categories. Emotion detection using AI technology integration is also gaining significant prominence. Thus, artificial intelligence and emotion detection experts collaborate with business teams to improve the shopping experience.

One of the primary reasons fueling the expansion of the emotion detection and recognition market is the increasing need for enhanced security solutions. The need for emotion detection and recognition solutions is predicted to rise as the demand for efficient systems to monitor crowd behavior and detect possible threats grows.

The market for emotion detection and identification is projected to witness prominent growth in the coming years due to the continuing advancement of machine learning and natural language processing. Additionally, the emotion detection and identification industry are expected to benefit from sentiment analysis based on changes in facial expression.

List of Key Players in the Emotion Detection And Recognition Market

Affectiva
Apple Inc
Emotient Inc
Eyeris
Kairos AR Inc
Noldus Information Technology
Realeyes
Sentiance
Sightcorp
SkyBiometry
NVISO
Q3 technologies Inc
Paravision Inc
NEC Corporation
Tobii
Cognitec

Related Press Release@ Emotion Detection And Recognition Market Report

Emotion Detection And Recognition Market Report Highlights

The growing trend in the development of AI-based systems is predicted to be the primary growth driver. The use of deep learning algorithms in emotion detection and recognition solutions to improve outcomes is projected to be a significant element in the growth of the technology-based segment
North America is the leading revenue provider. Increased internet usage and increasing adoption of IoT and cloud-based applications across various end-use sectors are driving the regional market growth
The increasing application of emotion recognition in the various industrial sector is expected to drive industry expansion, due to changes in lifestyle in various nations, including the U.S., Germany, and the U.K. Growing industries in India and China are also expected to fuel market growth
To develop superior products with a larger user base, key industry participants are concentrating on implementing artificial intelligence technologies in emotion detection and recognition

Emotion Detection And Recognition Market Segmentation

Grand View Research has segmented the global emotion detection and recognition market based on component, tools, technology, application, end-use vertical, and region:

Emotion Detection And Recognition Component Outlook (Revenue, USD Million, 2017 - 2030)

Software
Services

Emotion Detection And Recognition Tools Outlook (Revenue, USD Million, 2017 - 2030)

Facial Recognition
Speech And Voice Recognition
Gesture And Posture Recognition

Emotion Detection And Recognition Technology Outlook (Revenue, USD Million, 2017 - 2030)

Bio Sensors Technology
Machine Learning
Pattern Recognition
Feature Extraction
Natural Language Processing

Emotion Detection And Recognition Application Outlook (Revenue, USD Million, 2017 - 2030)

Surveillance and Monitoring
Marketing and Advertising
Robotics and eLearning
Medical Emergency
Others

Emotion Detection And Recognition End-use Vertical Outlook (Revenue, USD Million, 2017 - 2030)

BFSI
Healthcare & Life Sciences
IT & Telecommunication
Retail And eCommerce
Education
Media And Entertainment
Automotive
Others (Government, Hospitality, Manufacturing, etc.)

Emotion Detection And Recognition Regional Outlook (Revenue, USD Million, 2017 - 2030)

North America

U.S.
Canada
Mexico

Europe

U.K.
Germany
France

Asia Pacific

China
Japan
India

South America

Brazil

Middle East and Africa

About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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Tuesday 10 October 2023

Space Tourism Market Size Worth $8,669.2 Million By 2030

The global Space Tourism Market size is expected to reach USD 8,669.2 million by 2030, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 40.2% from 2023 to 2030. Space tourism is defined as human space travel for recreational, leisure, or business purposes. A high-net-worth individual seeking a unique experience is willing to pay for space tourism, increasing demand for space tourism.

As space technology research, development, and commercialization accelerate, space tourism is becoming a solid commercial pillar of the space industry. Only a few governments and private players have recently entered the market, with the Russian government consistently expressing interest in developing space tourism capabilities. In January 2021, Glavkosmos, Roscosmos' commercial arm, announced that it would sell four seats on the Soyuz MS spacecraft, with launches scheduled for 2022 and 2023, respectively.

Space tourism is expected to allow more space research, making space science more accessible to individuals. Since space is costly at the moment, these flights will offer a much lower cost to do some research. Space tourism will also help in making new technologies. More space science implies new inventions, and most technologies are based on the transformation that started in space. Running shoes, bulletproof vests, foam mattresses, etc., are a few of the technologies we got from a space visit to the moon.

Space tourism can be divided into suborbital and orbital tourism. Suborbital tourism allows human spaceflight to the space border without sending the vehicle into orbit. In a suborbital flight, one never makes it into orbit. A flight duration in suborbital flight ranges from 2 - 3 hours. Orbital tourism enables travelers to experience orbit. Orbital flight implies staying in orbit, i.e., continually going around the planet at a very high speed to not fall back on Earth. These trips can long for several days or weeks.

Space tourism is harmful to the environment. In general, rocket launches are detrimental to the environment. Rocket engines, burning rocket fuels, release black carbon (soot particles) and harmful gases into the upper atmosphere, resulting in ozone depletion. However, a few space companies do not use black carbon for fuel. Companies like Blue Origin’s New Shepard uses liquid hydrogen-fueled gases in rockets. Hydrogen turns into water vapor when burning and does not emit carbon.

The reason why space tourism can be harmful to the environment is its potential popularity. As rocket launches are rising, carbon footprints will also increase. The company, Virgin Galactic is planning to launch 400 flights annually. The black carbon released by 1,000 space tourism flights results in a one-degree Celsius increase in the temperature of Antarctica.

A few companies working in space tourism are SpaceX, Airbus Group SE, Blue Origin, Boeing, ZERO-G, Virgin Galactic, and Axiom Space. In March 2022, Blue Origin launched its suborbital vehicle, New Shepard, on its first flight of the year, which carried six people on a short-term trip to space and back. The launch was deferred for nearly one hour by several countdown holds, including one that continued for more than 45 minutes. Later, Blue Origin said they required the time to work out a problem with the radio system on the vehicle that networks telemetry.

List of Key Players in the Space Tourism Market

Blue Origin
Virgin Galactic
SpaceX
Airbus Group SE
Boeing
ZERO-G
Airbus Group SE
Axiom Space
Bigelow Aerospace
Orion Span
Space Adventures
Space Perspective
World View Enterprises
Zero2Infinity.

Related Press Release@ Space Tourism Market Report

Space Tourism Market Report Highlights

Space tourism is adopted by wealthy families, affluent individuals, or anyone with enough money who wants a different experience and is eager to pay for space tourism
Space tourism has increased overall space exploration activities. In November 2020, SpaceX launched non-astronauts to the International Space Station (ISS), which marked a new era of space exploration
The suborbital segment is expected to dominate the market and expand at a CAGR of 39.7% from 2023 to 2030
The commercial market for space tourism is projected to grow at the highest CAGR during the forecast period
The primary source markets for space tourism are the U.S., Japan, China, India, the U.K., Canada, Germany, Hong Kong, France, and Australia
The U.S. will be the primary source market for space tourism companies. When promoting their expeditions and hotels, all players in the space tourism sector focus on the U.S. market, as campaigns aimed at this market are likely to have the most significant impact

Space Tourism Market Segmentation

Grand View Research has segmented the global space tourism market based on type, end-user, and region:

Space Tourism Type Outlook (Revenue, USD Million, 2017 - 2030)

Orbital
Sub-orbital
Others

Space Tourism End-user Outlook (Revenue, USD Million, 2017 - 2030)

Government
Commercial
Others

Space Tourism Regional Outlook (Revenue, USD Million, 2017 - 2030)

North America

U.S.
Canada

Europe

Germany
U.K.

Asia Pacific

China
India
Japan

Latin America

Brazil

Middle East & Africa

Tokenization Market: Industry Demand, Analysis and Future Trends 2030

The global Tokenization Market size is expected to reach USD 13.53 billion by 2030, registering a CAGR of 24.09% from 2022 to 2030, according to a new report by Grand View Research, Inc. Tokenization is a software-based data security technology. The advancements in data and technology have been adopted by industries handling and dealing with sensitive data to offer an improved and significantly secure process for consumers. As the technology has become advanced and easily compatible with various devices, the industries have found it easier to incorporate it and enhance their offerings.

The banking and finance industry’s rapid digitization has enabled banks and financial institutions to solidify the security and impenetrable nature of their services. For instance, in December 2021, PhonePe, a mobile payment application, introduced tokenization in its service and implemented deleting all card on file details after a Reserve Bank of India regulation for the industry.

The main advantage of the technology is that it can be deployed in multiple factors such as online payments, data storage QR-based payments, in-app payments, and so on. The market remains strong even during the current pandemic and the global presence of the industry is growing rapidly as industries push for digitization and follow governmental regulations. This technology has gained immense traction in India after the emergence of a Reserve Bank of India guideline to all merchants and e-commerce platforms to delete all sensitive data of users including their card details by September 30, 2022.

Tokenization is widely present in Europe and North America and is increasingly being adopted in Asia. Tokenization is growing in popularity as it is not for just payment security but also to protect all types of sensitive data. Along with the banking and financial industry, this technology is deployed by the healthcare, information technology, and retail industries. This technology is often deployed in conjunction with encryption to add an even stronger layer of security for sensitive data.

List of Key Players of Tokenization Market

Fiserv, Inc.
Visa, Inc.
MasterCard, Inc.
Micro Focus International plc
American Express Company
Thales Group

Related Press Release@ Tokenization Market Report

Tokenization Market Report Highlights

The solution component segment accounted for over 80.0% share of the total revenue in 2021 owing to industries approaching tokenization companies to secure digitized data
The payment security application area segment held the largest revenue share of over 30.0% in 2021
The gateway-based technology segment is predicted to record a CAGR of 25.26% from 2022 to 2030
The Middle East and Africa is anticipated to register the highest CAGR of 27.52% from 2022 to 2030

Tokenization Market Segmentation

Grand View Research has segmented the global tokenization market on the basis of component, application area, technology, deployment, industry vertical, and region:

Tokenization Component Outlook (Revenue, USD Million, 2018 - 2030)

Solution
Services

Tokenization Application Area Outlook (Revenue, USD Million, 2018 - 2030)

Payment Security
User Authentication
Compliance Management
Others

Tokenization Technology Outlook (Revenue, USD Million, 2018 - 2030)

Application Programming Interface-based
Gateway-based

Tokenization Deployment Outlook (Revenue, USD Million, 2018 - 2030)

Cloud
On-premises

Tokenization Industry Vertical Outlook (Revenue, USD Million, 2018 - 2030)

BFSI
Healthcare
IT
Government
Retail And E-Commerce
Energy & Utilities
Other

Tokenization Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

U.S.
Canada

Europe

U.K.
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia

Latin America

Brazil
Rest of Latin America

Middle East & Africa