The market for crowd analytics is expected to expand from USD 385.1 million in 2016 to USD 1,142.5 million by 2021, with a Compound Annual Growth Rate (CAGR) of 24.3 percent throughout that time. The report uses 2015 as the base year, with the prediction period running from 2016 through 2021. Crowd analytics is the use of analytics to data collected on crowd movement and activity in a specific location, such as a retail store, restaurant, or bus station. Internet Protocol (IP)-enabled video cameras, sensors, mobile phone beacons, and data acquired from telecom operators are all examples of data collection methods. The product aids organisations in developing strategies for service delivery, pricing, marketing, and site selection, resulting in increased revenue creation.
Overview of the Crowd Analytics Market:
Crowd analytics is a commercial solution that provides in-depth analysis of crowd movement in places where people congregate, such as metro and airport terminals, shopping malls, city stores, community centres, sports stadiums, and so on. Statistical and modelling skills in crowd analytics systems include microscopic models, behavioural models, value engineering, conflict estimation, and complex network analysis. Crowd analytics uses crowd tracking and customer behavioural analysis to improve corporate operations. Furthermore, when compared to on-premise installation, the cloud deployment paradigm allows analytics solutions to be implemented at a low cost.
North America, Europe, Asia-Pacific, and LAMEA are all examined in the global crowd analytics market. The adoption of crowd analytics in North America has been aided by technological developments and widespread use of cloud analytics platforms. Furthermore, various Asian-Pacific urban growth plans have boosted the demand for smart public management solutions at mass gathering sites such as railway stations, metro terminals, and other community meeting places.
The global crowd analytics market is divided into segments based on solution, deployment model, application, vertical sector, and geography. It is divided into software and services based on the solution. When it comes to deployment types, there are two options: on-premise and cloud. The industry’s applications include safety and security, crowd flow control, mobility and tracking, and others (campaign planning and customer engagement). Transportation, retail, hospitality & tourism, and others are the categories based on the end user (government, marketing agency, and finance). The market is divided into four regions: North America, Europe, Asia-Pacific, and Latin America and the Caribbean.
AGT International GmbH, Crowd Dynamics International, Crowd Vision Limited, Geodan Next, Mira, NEC Corporation, Nokia Corporation, Savannah Simulations AG, Spigit, Inc., Walkbase, and others are among the key firms highlighted in the report. To increase their market penetration, these companies have used techniques such as geographical expansion, mergers and acquisitions, product portfolio expansion, and collaborations.
In smart cities, there is a growing desire for better crowd dispersal planning.
To maintain a smooth flow of public transportation, commercial events, retail malls, stadiums, and other mass gathering locations, crowd control and public surveillance are regarded essential components in city planning. Smart cities are being developed in a number of North American, European, and Asia-Pacific countries, including Canada, the United States, the United Kingdom, Germany, the Netherlands, Spain, Sweden, India, China, Japan, and others.
An increase in the number of airline and train passengers is expected.
The growing number of passengers using air and rail modes of transportation has increased the demand for infrastructure and gateway planning in regions such as North America, Europe, and Asia-Pacific to accommodate huge crowd flow from shared intersections and ticket kiosks.
Concerns about security and surveillance are becoming more prevalent.
Several countries have invested heavily in improving safety and security at public locations such as transportation terminals, event venues, retail malls, and others in order to detect suspicious activities and prevent untoward incidents, which has increased the demand for video and crowd analytic solutions and is expected to fuel the crowd analytics market growth.
In undeveloped countries, there is a lack of IT infrastructure.
Crowd analytics market growth is likely to be hampered by a lack of IT infrastructure, sluggish adoption of ICT, and procurement of IT projects in countries such as Mexico, Chile, Egypt, Thailand, and others.
Analysis of the Global Crowd Analytics Market at the Country Level
As said above, the crowd analytics market is examined, and market size and volume data are supplied by nation, component, application, deployment mode, organisation size, and end user industry.
The countries covered in the crowd analytics market report are the United States, Canada, and Mexico in North America, Germany, France, the United Kingdom, the Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, and the Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, the Philippines, and the Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Saudi Arabia, the United Arab Emirates, Israel, Egypt, South Africa, and the Rest of
Because of its early embrace of advanced technical solutions such as artificial intelligence and machine learning, North America dominates the worldwide crowd analytics market. Furthermore, the area’s prominence is due to the presence of important key actors throughout the region. Because of the increased focus of businesses on innovations derived from research and development and technological advancements, the United States and Canada have emerged as the leading contributors. Due to rising need and demand for business intelligence solutions, Asia-Pacific is expected to grow at the fastest rate throughout the forecast period.
Individual market affecting elements and changes in legislation in the domestic market are also discussed in the country portion of the crowd analytics market study, which have an impact on the market’s current and future trends. Some of the primary pointers utilised to anticipate the market situation for individual countries include consumption quantities, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, and down-stream and upstream value chain analysis. While providing forecast analysis of the nation data, the presence and availability of global brands, as well as the obstacles they face due to significant or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are all taken into account.