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.