Pune, Nov. 05, 2022 (GLOBE NEWSWIRE) — According to a report by JC Market Research, the emotional intelligence market was valued at USD 8680 million in 2021. The global emotional intelligence market is expected to grow at a CAGR of 25.2% over the forecast period from 2022 to 2031. The market is driven by growing awareness among organizations about the benefits of emotional intelligence.
Emotional intelligence is the ability to identify, understand and manage emotions. It helps individuals achieve their goals and improve their performance. There are various applications of emotional intelligence, such as human resource management, customer relationship management, sales and marketing, and leadership development.
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Emotional intelligence is used to assess an individual’s personality, emotions and behavior. It helps organizations identify employee training and development needs. It also helps reduce stress at work and improve communication in the workplace.
The emotional intelligence market is segmented on the basis of component, application, end user, and geography.
By component, the market is categorized into software and services. The software segment is expected to grow at the highest CAGR during the forecast period. Emotional intelligence software includes tools for assessment, coaching, training, and feedback. The services segment includes consulting, support and maintenance services.
On demand, the emotional intelligence market is segmented into human resource management, customer relationship management, sales & marketing, and leadership development. The human resource management application is expected to grow at the highest CAGR during the forecast period. Emotional intelligence is used in human resource management for employee selection, training and development, and performance management.
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Per end user, the emotional intelligence market is categorized into large enterprises and small and medium enterprises. The large enterprise segment is expected to grow at the highest CAGR during the forecast period. Large companies have a large customer base and a large number of employees. They use emotional intelligence to improve their customer experience and improve the productivity of their employees.
By geography, the emotional intelligence market is segmented on the basis of geography into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest market share during the forecast period. The region has a well-developed economy and is home to some of the major players in the emotional intelligence market. The region is also seeing strong adoption of emotional intelligence solutions and services.
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IBM Corporation, SAP SE, Oracle Corporation, Salesforce.com, Inc., Microsoft Corporation, Google LLC, HubSpot, Inc., Adobe Systems Incorporated and Workday, Inc.
- Human Resource Management
- Customer relationship management
- Sales and Marketing
- Leadership Development
Per end user
- Large companies
- Small and medium enterprises
- North America
- Asia Pacific
- South America
- Middle East and Africa
- IBM Corporation
- SAP SE
- Oracle Corporation
- Salesforce.com Inc.
- Microsoft Corporation
- Google LLC
- HubSpot Inc.
- Adobe Systems Incorporated
- Workday Inc.