Crowd Analytics
Market Overview
The global 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.
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.
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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 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. Countries have increased the expenditure on the
improvement of security and safety at public places, such as retail malls,
event venues, transport terminals, and others to track any suspicious activity
or untoward incident. 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.
Impact of COVID-19 on the Crowd Analytics Market at: https://www.marketresearchfuture.com/report/covid-19-impact-crowd-analytics-market
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 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.
Notable
Contenders
MRFR lists the
notable contenders in the industry such as Crowd ANALYTIX, Inc. (U.S.),
Walkbase (Finland), NEC Corporation (Japan), Spigit Inc. (U.S.), AGT
International (Switzerland), Wavestore (U.K.), Nokia (Finland), Sightcorp
(Netherlands), Crowd Dynamics (U.K.), to name a few.
Latest Update
May 2020: Continual, a well-known supplier of mobility experience
analytics has been chosen by Vodafone Ireland to provide its services to
deliver advanced connected car experience and mobility Quality of Service
across the country’s national road system. The mobility experience analytics is
being used to monitor and optimize the connectivity for IoT devices, handsets
and cars across the country.
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