Crowd analytics refers to the extrapolation of information from data collected by analyzing the movement of the crowd or objects. It has found a core application in the development of crowd management strategies. Market Research Future (MRFR)’s observation states that the global crowd analytics market is set to thrive at 24% CAGR during the review period. It has also been asserted in the study that the market is set to value at USD 1.4 Bn by 2022 increasing from USD 323 Mn in 2019.
The product is likely to find applications across industries such as BFSI, healthcare, retail, etc. The rapid adoption of technological advancements in these verticals is expected to fuel growth of the crowd analytics market in the nearby future. Also, the demand for business intelligence is anticipated to accelerate revenue creation in the global market place.
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NEC Corporation (Japan), Crowd Dynamics (U.K.), Sightcorp (Netherlands), Crowd ANALYTIX, Inc. (U.S.), Nokia (Finland), Spigit, Inc. (U.S.), Wavestore (U.K.), AGT International (Switzerland), Walkbase (Finland) are some of the prominent vendors of the global crowd analytics market. The report offers a detailed share analysis of the market that studies key developments, current market positions, past trends, etc. These players are leveraging technological advancements to gain an edge over other players and stay ahead of the curve.
Some of the organic and inorganic methods expected to be applied by the market participants in the years to come are mergers & acquisitions, product launches, agreements, product portfolio development, strategic partnerships, research & development, collaborations, etc. among others. Also, the boom being witnessed in the tech startup culture is anticipated to make way for new players over the next couple of years. It is anticipated to amplify the competition in the crowd analytics market in the nearby future.
The key segments of the global Crowd Analytics Market identified in this MRFR report on the basis of deployment are – on cloud, on premise, and hybrid.
By application, the segments of the crowd analytics market included in this assessment are market forecasting, incident analytics, revenue forecasting, customer management, and others.
The different verticals profiled in the study of the global crowd analytics market are transportation, retail, BFSI, healthcare, and media & entertainment.
This report includes a geographical assessment of the global crowd analytics market on both regional and country-level basis. The regional segments profiled in the report are – Asia Pacific (APAC), North America, Europe, and the Rest of the World (RoW). Among these, North America is currently holding the pole position of the global market and is expected to maintain its dominance in the foreseeable future. Key players in the region are anticipated to invest in research & development, which is poised to push the regional crowd analytics market to its growth trajectory. In addition, the technological developments introduced by these players are further prognosticated to add to market revenues over the forecast period. The U.S. is anticipated to contribute prominently to the expansion of the market in the region in the upcoming years.
Europe is expected to witness a swift rate of growth over the next few years. The growth of the manufacturing, as well as the e-commerce industries, are encouraging the expansion of the crowd analytics market there. The region is likely to maintain its second position in the global crowd analytics market during the projection period.
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Asia Pacific is anticipated to register a comparatively higher growth rate across the evaluation period. The presence of two major fast-developing economies, China and India, is projected to influence the crowd analytics market greatly in the upcoming years. Also, rising applications across industry verticals are prognosticated to drive market growth in the region.
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