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The crowd analytics market size is forecast to increase by USD 4.70 billion, at a CAGR of 32.14% between 2023 and 2028. The market's expansion hinges on various factors, notably the escalating count of passengers using airlines and trains, a surging demand for Business Intelligence (BI) solutions, and the steady rise in Information and Communications Technology (ICT) spending by both developed and developing nations. This growth trajectory is propelled by the increasing reliance on data-driven decision-making across industries, the need for advanced analytics to optimize operations and enhance customer experience in the transportation sector, and the continuous investments in ICT infrastructure to support digital transformation initiatives globally. These trends collectively contribute to the market's robust growth and evolution in response to changing business and technological landscapes.
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The market is driven by the need to understand Customer preference patterns and enhance Public transport efficiency. Filmed visuals and suspect identification aid in Crowd behavior analysis. Innovations like Prediction crowd flow models and Enhanced Video Analytics are key trends, empowering industries like the Restaurant industry and Defense organizations. Challenges include managing vast data streams from Airports, Train stations, and City malls effectively, integrating diverse data from Closed circuit television cameras and Sensors, and ensuring privacy and ethical use of Cameras and Telecom operators' technologies. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising number of airline and train passengers is the key factor driving the growth of the global market. The increasing number of passengers using air and rail transport has increased the demand for infrastructure and gateway plans to handle large numbers of people from common intersections and ticketing counters in regions such as APAC, North America, and Europe. For instance, US airlines carried 46.3 million scheduled service passengers in January 2023, 33.2% more than in January 2021. With the growing number of passengers, the crowd analytics demand is also increasing.
Crowd analytics has been employed in different modes of transportation, such as airlines, railways, and metros. It assists in queue management, operational analysis and monitoring, time optimization, managing traffic flow, route optimization, and others. Many such benefits are increasing the adoption of crowd analysis in the transportation sector, especially in airlines and airways. As a result of these factors, the global market is expected to witness growth during the forecast period.
Rising strategic activities by companies is the primary trend in the global market. Several advanced crowd management technologies have been implemented across various end-user industries following the outbreak of the COVID-19 pandemic during 2020-2021. The advent of advanced crowd analytics and the rising demand for crowd security measures to maintain strong security practices are increasing the adoption of crowd analytics solutions. These factors further encourage market companies to launch new products and engage in organic and inorganic activities to gain a competitive advantage in the market.
For instance, In January 2021, the Indoor Lab, the leading vendor of real-time foot traffic monitoring utilizing lidar sensors, announced a partnership with Cepton, an anonymized crowd perception platform performer, to change smart environments. The partnership would allow The Indoor Lab to provide cutting-edge space and crowd statistics, as well as unrivaled social distancing and cleaning measures. Such growth strategies adopted by companies will positively impact the market growth during the forecast period.
Lack of expertise and knowledge of cloud resources and architecture is a major challenge to the growth of the global market. Data analytics confer tremendous benefits to organizations, but it requires educated and qualified professionals with relevant experience in logical and analytical thinking, along with domain expertise. However, there is a shortage of skilled analytics professionals, including mathematicians, statisticians, data scientists, and data analysts. The demand for data analytics is higher than the availability of data analytics professionals.
This makes it difficult for companies of crowd analytics to fulfill the growing needs of the client base. Moreover, key and experienced employees prefer to move to higher-income countries, which may lead to a shortage of skilled professionals in outsourcing destinations. Such challenges are expected to have a negative impact on the growth of the global market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AGT International: The company offers crowd analytics for agriculture and rural development, environment and energy, and agro-Industry, and marketing and trade.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative market growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Market is witnessing substantial growth fueled by advancements in Prediction crowd flow models, Enhanced Video Analytics, and Crowd behavior analysis. Industries like the Restaurant industry, supported by associations like the National Restaurant Association and platforms like Modern Restaurant Management, are leveraging Crowd analytics to achieve Efficiency gains and enhance customer experiences. Public surveillance initiatives in key areas such as Airports, Train stations, City malls, and Retail stores are incorporating sophisticated Closed circuit television cameras (CCTV) and Sensors for real-time monitoring. Telecom operators like NEC are contributing to Crowd analytics advancements, especially in City planning, Retail malls, Commercial buildings, and Defense organizations where Vital infrastructure and Public safety are paramount concerns.
The market share growth by the cloud segment will be significant during the forecast period. The cloud segment held the largest of the cloud analytics market in 2022. This can be attributed to the convenience and easy access offered by cloud-based solutions. These solutions provide data collection, analysis, storage, and sharing via cloud-based tools that make it easier for researchers to share data with each other to improve models and predictions.
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The cloud segment was valued at USD 335.40 million in 2018 and continued to grow until 2022. Some advantages of this segment are, direct IT control, the cost-effectiveness of cloud deployment, internal data delivery and handling, faster data processing, and efficient resource utilization. Many benefits of adopting a cloud-based model are expected to drive the growth of the cloud segment of the global market during the forecast period.
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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in North America is driven by the increasing adoption of cloud-based crowd analytics solutions by companies. The growing awareness of the advantages of cloud-based deployments, such as cost efficiency, ease of availability, and presence has further increased the regional market demand. Additionally, the North American region has significant market pioneers providing solutions for all industry sectors in the region. Furthermore, the extensive use of crowd analysis in retail and other industries such as e-commerce, healthcare, and entertainment draws will drive the growth of the market in North America during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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The Market is witnessing rapid growth driven by factors such as the increasing foot traffic in Airports, Train stations, City malls, and Retail stores. With the rise of Hospitality tourism and the need for Crowd control in public spaces like Stadiums and Conference centers, there's a heightened focus on Crowd flow management and Mobility tracking. The integration of Closed circuit television cameras (CCTV) and Advanced analytic software is enabling Surveillance film and Behavior detection for a safe and secure environment.
Moreover, Artificial intelligence (AI) and Machine learning technologies play a pivotal role in Pattern recognition and Incident detection across various sectors, including Banking and financial services, Retail malls, and City planning. This AI powered audience intelligence aids in Client retention and Risk management, especially in critical infrastructures like Commercial buildings and Defense organizations. The market is also influenced by Telecom operators adopting Wireless networks and 5G network data collection for improved Network infrastructure. Hyper-personalization through Social media customer service and In store analytics is enhancing customer experiences, while Incident analytics software and Security Hygiene address Potential risks such as Terrorist acts and Domestic crime. Crowd Strike and Cloudera are notable players offering Cloud delivered endpoint solutions and SaaS versions for streamlined Data integration and Visualization in the crowd analytics landscape.
Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 32.14% |
Market growth 2024-2028 |
USD 4.70 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
24.42 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 37% |
Key countries |
US, UK, China, Canada, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AGT International, Ajna Labs Pvt. Ltd., ARCUS Applied Artificial Intelligence GmbH, Crowd Analytics Ltd., Crowd Dynamics International Ltd, CrowdANALYTIX, CrowdVision Ltd., Datum Consultants FzCO, Divine Space Pvt. Ltd., Geodan B.V., Multimodal Data Fusion and Analytics Group, NEC Corp., Nokia Corp., Savannah Simulations AG, SmartinfoLogiks LLP, Spoken Thought Inc., STRATACACHE, TAKELEAP DMCC, Verizon Communications Inc., and Xtreme Media Pvt. Ltd. |
Market dynamics |
Parent market analysis, market research and growth, Market forecasting, market report, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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