Crowd Analytics Market Size, Share, Challenges, Opportunities, Trends and Segmentation

Market Overview

The Crowd Analytics Market 2020 is all set to expand to a size of USD 1.4 billion by 2022-end, reveals Market Research Future (MRFR). It is also anticipated that the market can progress at a rate of 24% between 2016 and 2022. We will provide covid-19 impact analysis with the report, offering an in-depth review following the coronavirus disease outbreak.

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Market Segmentation

Crowd Analytics Industry has been considered for verticals, deployment, and application.

Deployment-based market sections include on cloud, hybrid and on premise, out of which the cloud based deployment has gained maximum traction.

Applications of crowd analytics solutions are market forecasting, incident analytics, revenue forecasting, customer management, and others. The mounting concerns with regard to security and surveillance can boost the use of crowd analytics across all the mentioned applications.

Vertical that increasingly deploy crowd analytics include BFSI, Healthcare, Retail, Media & Entertainment and Transportation, among others.

COVID-19 Analysis

The COVID-19 impact on people has been notable, affecting their buying behavior thinking. COVID-19 outbreak has also weakened worldwide supply chains, with manufacturers closing doors. Consumers are now viewing brands and products through a different lens. The pandemic is continuously reshaping the ICT industry, since after the lockdown imposed across regions, people are self-isolating and are expected to work from home or students are being offered online class services. This boosts the demand for IT-based technologies, such as AI, IoT, VR/AR and more.

Consumers are concerned with regard to the impact of the novel coronavirus, from economic and health perspective. There is variation in behaviors as well as purchasing habits. Since crowd analytics solutions are used for evaluating the consumers’ behavioral pattern with respect to a product or service using social network, its use is expected to surge post COVID-19, in the wake of the surrounding uncertainty. Higher demand for behavioral model, microscopic model, conflict estimation, complex network analysis and value engineering, is anticipated among businesses to track customer behavior. Increase in deployment of cloud-based solutions in sports stadium, retail malls, metro & airport terminals, community centers, city stores and more, post SARS-CoV-2 outbreak and the increasing demand in smart cities can be some of the global Crowd Analytics Market Trends in the following years.

Regional Study

Europe, APAC or Asia Pacific along with North America and the rest of the world or RoW are the main markets for crowd analytics.

Technological developments along with the higher uptake of cloud analytics platform are largely responsible for North America’s clout in the global market for crowd analytics. The sharp rise in terrorist attacks, crimes, and others have added to the worry of the government as well as defense bodies regarding the security and safety of commercial buildings, critical facilities, and public in general. Moreover, the frequent innovations in the technology facilitated by continuous research and development also add to the market growth speed in the region.

APAC can procure the highest expansion rate in the years ahead, with more and more vendors understanding the growth potential of the Crowd Management Analytics Market in the region. This factor is also backed by the increasing need for better public control management in airport gateways and retail malls. Growing disposable incomes of the citizens in India, China, and Australia have resulted in the boom in the number of visitors in public places like malls, which favors the regional market to a large extent.

The European market benefits from the increasing visitors at malls and similar public places on account of the expanding tourism industry and the excellent financial stability of the region. The market growth can also be underpinned by the rising demand for business intelligence solutions along with the need to deploy advanced surveillance systems across various public sections.

Key Players

MRFR identified reputed companies in the global crowd analytics market. They are; Crowd Dynamics (U.K.), NEC Corporation (Japan), Crowd ANALYTIX, Inc. (U.S.), Sightcorp (Netherlands), Spigit, Inc. (U.S.), Nokia (Finland), AGT International (Switzerland), Wavestore (U.K.), and Walkbase (Finland) among others. MRFR report on the world crowd analytics market details elaborates forces that can cause the market to surge. Mergers and the introduction of innovations can bolster the crowd analytics market growth. Several countries globally have spent In addition, the heavy improvement made in safety and security at public places can impel the expansion of the market.

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