Globally, the use of analytics has become pervasive and is completely transforming the industries as well as enabling better levels of user experience by providing relevant and customized services. Crowd analytics is one such solution providing meaningful and actionable insights related to the activities of the individuals at mass gatherings, i.e., restaurants, sports stadiums, retail stores, metro & airport terminals, bus stations, and many others. Crowd analytics solutions are designed not only to detect gender and age group but also to capture the attention span of an individual that expresses the interest level of the viewer.
Crowd analytics is currently being used across various verticals such as CPG and retail, transportation, media and entertainment, travel and tourism, and public safety by leveraging key performance indicators, i.e., measuring customer footfall, location of business, and so forth for making effective decisions to optimize sales, customer service and marketing, as well as reacting faster to the dynamic and competitive market.
Market Analysis
According to Research, the global crowd analytics market is expected to grow at a CAGR of 25.8% during the forecast period to reach revenue of $2.4 billion by 2024. The rising demand for evaluating real-time crowd behavior to enhance the security and safety levels, measuring customer footfall to improve customer conversion, rising demand for intelligent video systems, and audience engagement tools & solutions are few factors fostering the crowd analytics market growth during the forecast period.
Market Segmentation Analysis
The report provides in-depth qualitative insights and validated market forecast or projections based on certain assumptions and historical data. The projections and trends featured in the report have been derived using proven research methodologies and assumptions based on the vendor’s portfolio, blogs, whitepapers, and vendor presentations. Thus, the research report represents every side of the market and is segmented based on regional markets, components, and applications.
Competitive Analysis
The report covers and analyzes the crowd analytics market. Major vendors across different verticals are planning for high investments in this market, and as a result, the market is expected to grow at an impressive rate in the coming years. The key players are adopting various organic as well as inorganic growth strategies such as mergers & acquisitions, collaborations & partnerships, joint ventures, and few other strategies to be in the strong position in the market.
The report contains an in-depth analysis of the vendor’s profile, which includes financial health, business units, key business priorities, SWOT, strategies, and views. The prominent vendors covered in the report include NEC Corporation, Nokia, Sightcorp, AGT International, CrowdVision, Savannah Simulations, Walkbase, DFRC, Crowd Dynamics, and iOmniscient among others. The vendors have been identified based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D.
NEC, Nokia, Sightcorp are the key players in the crowd analytics market. With the acquisition of Northgate Public Services, NEC will accelerate the expansion of its international safety business. Nokia acquired Deepfield Networks Inc., a US-based real-time analytics provider for IP network performance management and security, which will contribute to Nokia’s IP/Optical Networks operating segment. Sightcorp provides its audience measurement and real-time video analytics solution to TEDx Amsterdam, which measures real-time audience response to each TEDx talk.
Regional Analysis
North America held the largest market share in 2017 and is expected to dominate the crowd analytics market during the forecast period. North America, being the early adopter of crowd analytics solutions, is expected to grow due to the increasing number of partnerships in this region. In 2017, AdMobilize, a US-based AI and computer vision company, partnered with various companies in the US, the UK, Canada, Australia, and Japan for crowd analytics and audience analytics solutions.
The report provides an in-depth analysis of the crowd analytics market. Crowd analytics enhances business operations by leveraging crowd tracking and customer behavioral analysis. By understanding the influence and behavior of a particular crowd, various industries such as retail, finance, transportation, and marketing agencies among many others can be benefited by optimizing their revenue and forecasting the market. With the help of crowd analytics, marketers can precisely measure the effectiveness of their promotions and advertising. For example, crowd analytics solutions offered by Xtreme Media enable brands to measure the effectiveness of their ad campaigns by measuring customer insights related to emotions and demographics of the viewer. The report discusses the market in terms of components, applications, verticals, and regions. Further, the report provides details about the major challenges impacting the market growth.
Category: Business Services Market
Contact Details:
Aarkstore Enterprise
+917710006788 | [email protected] | aarkstore.com
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).
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.
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.Key Drivers and Main Restraints Heightened need for enhanced crowd distribution planning across smart cities and smoother flow of commercial events, public transport, stadiums, retail malls, and various public places has boosted the uptake of crowd analytics solutions.
Several countries such as the UK, Germany, U.S., India, UAE, China and Australia are increasing their spending on crowd analytics solutions, because of the mounting requirement for optimum resource utilization along with better public management system.The persistent surge in the number of air and rail passengers has pushed the need to cater to the crowd from common ticket counters and junctions, leading to better growth of the worldwide market.
These needs are pushing the demand for crowd analytic solutions and can induce further market growth across the globe.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.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.
Global Workforce Analytics Market, By Type (Solutions, Services), By Deployment (On Premise, on cloud) By Organization Size (Large, SME’s) and By Industry (Banking, Insurance Government, Retail, Logistics, Healthcare, Manufacturing).Market OverviewThe need to optimize the human capital of firms is boosting the workforce analytics market 2020.
The ICT industry reports are produced by Market Research Future, which highlights market options for expansion.
A revenue level of USD 1026 Million is predicted by the end of 2023 with the support of a 13 % CAGR in the forecast period.The development of the work culture has led to the need to improve the handling of human resources, which is estimated to enhance the workforce analytics market share in the impending period.
On the basis of type, the workforce analytics market is bifurcated into solutions and services.
The swift economic development in the region, growing citizen affluence is playing a vital role in the expansion of this market.Competitive AnalysisThe investment in robotic elements in the supply chain is estimated to be seen in the future to reduce the impact of the human capital on the long term market expansion.
The state of the market is extremely indecisive due to the effect of the macro factors operating in the global economy.
Crowd-Sourced Testing IndustryThe global crowdsourced testing market is expected to reach USD 2.85 billion by 2025, registering a CAGR of 8.2% during the forecast period 2019–2025.
In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the coming years.The increasing need to manage quality assurance of software for better customer experience and growing demand for cost-effective software development process are key factors driving the growth of the crowdsourced testing market.
With crowdsourcing testing, enterprises can get receive feedback about their website, software or application in much less time and at comparatively low cost.
Nowadays, a large number of startups and even big firms are looking for crowdsourcing testing solution.
Companies like Uber, Spotify, Microsoft Corporation, Google Inc., and Saatva among others have been using crowdsourcing testing solutions in order have an efficient quality assurance process for their apps, website, and software.
Moreover, it is expected that, with growing competition across industry verticals and the need to reach market faster, crowdsourcing testing solutions are expected to be adopted, and boost the market in forecast period as well.The adoption of crowdsourced testing is specifically increasing among small- and medium-sized enterprises due to the flexibility it offers to them.
