Crowd Analytics Market Forecast up to 2024
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.
According to Infoholic 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.
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.
The report also includes the complete insights of the industry and aims to provide an opportunity for the emerging and established players to understand the market trends, current scenario, initiatives taken by the government, and the latest technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and to take informed decisions.
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.
1.1 The Smart Way to Analyze Crowd - Crowd Analytics
2 Industry Outlook
2.1 Industry Overview
2.2 Industry Trends
3 Market Snapshot
3.1 Total Addressable Market
3.2 Segment Addressable Market
3.2.1 PEST Analysis
3.3 Related Markets
4 Market Characteristics
4.2 Market Trends and Impact
4.3 Value Chain Analysis
4.4 Market Segmentation
4.5 Market Dynamics
220.127.116.11 Need for evaluating real time crowd behavior
18.104.22.168 Rising demand for Intelligent video systems
22.214.171.124 Data privacy is a major concern
126.96.36.199 Initially high upfront cost
188.8.131.52 Rising demand for crowd management and monitoring in smart cities
184.108.40.206 Increasing demand for cloud based analytics solutions
4.5.4 DRO – Impact Analysis
5 Crowd Analytics Market, By Component
5.2 Standalone Solution
5.3.1 Professional Services
5.3.2 Managed Services
6 Crowd Analytics Market, By Applications
6.2 Security and Safety
6.3 Simulated Virtual Environment
6.4 Marketing Campaign Effectiveness
6.5 Enhanced Revenue and Profit
7 Crowd Analytics Market, By Vertical
7.2 Media and Entertainment
7.4 Travel and Tourism
7.5 Consumer Packaged Goods and Retail
7.6 Public Safety
7.7 Others (BFSI, Manufacturing and healthcare and life science)
8 Crowd Analytics Market, By Geography
8.2 North America
8.3.1 Market Size and Analysis
8.4 Asia Pacific
8.4.1 Market Size and Analysis
8.5 Rest of the World
8.5.1 Market Size and Analysis
9 Competitive Landscape
9.1 Competitor Analysis
9.2 Product/Offerings Portfolio Analysis
9.3 Market Developments
9.3.1 Mergers & Acquisitions (M&A)
9.3.3 Business Restructuring
9.3.4 Product Launches & Exhibitions
10 Vendor Profiles
10.1 NEC Corporation
10.1.2 Business Units
10.1.3 Geographic Revenue
10.1.4 Recent Developments
10.1.5 SWOT Analysis
10.1.6 Business Focus and Strategies
10.2.2 Business Units
10.2.3 Geographic Revenue
10.2.4 Recent Developments
10.2.5 SWOT Analysis
10.2.6 Business Focus and Strategies
11 Companies to Watch for
11.1.3 Analyst Opinion
11.2 AGT International
11.2.3 Analyst Opinion
11.3.3 Analyst Opinion
11.4 Savannah simulations
11.4.3 Analyst Opinion
11.5 Walkbase (A Stratacache Company)
11.5.3 Analyst Opinion
11.6.3 Analyst Opinion
11.7 Crowd Dynamics
11.7.2 Analyst Opinion
11.8.2 Analyst Opinion
12.1 Report Scope
12.2 Market Definition
12.3 Research Methodology
12.3.1 Data Collation & In-house Estimation
12.3.2 Market Triangulation
12.4 Study Declarations
12.5 Report Assumptions
Infoholic Research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:
- Data Collation (Primary & Secondary)
- In-house Estimation (Based on proprietary data bases and Models)
- Market Triangulation
Market related information is congregated from both primary and secondary sources.
Involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.
Include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.