Crowd Analytics Market Analysis

Crowd Analytics Market Overview

The Crowd Analytics Market is projected to grow from USD 7.44 Billion in 2024 to USD 32.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 20.09% during the forecast period (2024 - 2032). Additionally, the Crowd Analytics Market Size was prized at USD 6.04 Billion in 2023.

The popularity of efficient group transportation planning in thriving urban communities, the rise in carriers and train passengers, the rise in safety and surveillance concerns, and the development of IoT appropriation across a few industry verticals are the major market drivers strengthening the market growth. The increased popularity of business intelligence solutions that analyze the usage patterns of any good or service to help organizations plan for long-term success is expected to promote future growth of the crowd analytics industry.

Figure 1: Crowd Analytics Market Size, 2018-2032 (USD Billion)

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Crowd Analytics Market Trends

Growing terrorism threat is driving the market growth

Market CAGR for crowd analytics is being driven by the rising terrorism threat. The defense and security of vital infrastructure, commercial buildings, and the public's safety have become more important to governments and defense organizations due to rising crime, terrorist attacks, and other security concerns. Through analysis of the filmed visuals, crowd analytics assists governments in pre-investigating suspects. As a result, it aids governments in adopting a proactive strategy to combat domestic crime and terrorist acts and to some extent, lower them year over year. Pattern recognition, incident detection, and facial recognition features of intelligent surveillance systems enable end users to receive early notifications about potential risks and threat situations, allowing end users to make informed decisions for mitigating such circumstances.

Crowd control and public surveillance are key components in city planning to maintain the seamless operation of public transport, commercial events, retail malls, stadiums, and other major gathering places. Several North American, European, and Asian nations, including Canada, the U.S., the UK, Germany, the Netherlands, Spain, Sweden, India, China, and Japan, favor creating smart cities. Several developed and developing nations, including United Kingdom, United States, Germany, Australia, India, China, the United Arab Emirates, and others in the North America, Europe, and Asia-Pacific regions, have increased their ICT spending on crowd analytics software and monitoring solutions in because of the growing demand for the finest resource utilization and public management system.

One of the key drivers of the high amount of data that supports the expansion of the crowd analytics market in the structure is the increasing use of the Internet throughout the world. The recent technological advancement of the Internet of Things and Big Data considerably aid the progress of the unrestricted, worldwide crowd analytics industry. BI-related services like interactive dashboard reporting and intelligent KPI monitoring or dynamic are included in cloud-based BI solutions. As internet usage and IoT technology grow, cloud-based products and services are becoming increasingly popular. SMEs' adoption of cloud-based solutions is driving the expansion of the BI industry. Thus, driving the crowd analytics market revenue.

Crowd Analytics Market Segment Insights

Crowd Analytics Deployment Insights

The crowd analytics market segmentation, based on deployment, includes cloud, on-premise, and hybrid. The on-premise segment acquired a major market share, accounting for 50.1% of market revenue (2.5 Billion). The on-premise sector has a larger market share than the cloud segment because businesses that manage sensitive data prefer on-premise or self-service. It also offers improved speed and more security for sectors with constraints on handling sensitive data, like healthcare and finance. Due to the increasing need from businesses for data integration, data quality tools, sophisticated visualization, and data discovery, cloud-based deployment is anticipated to have the greatest CAGR during the projection period.

Figure 2: Crowd Analytics Market, by Deployment, 2022 & 2032 (USD Billion)

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

The crowd analytics market segmentation, based on application, includes market forecasting, revenue forecasting, incident analytics, and customer management. The customer management segment dominated the market in 2022. The key elements driving sector growth include enduring trends like the hyper-personalization of customer service, the use of AI and automation, and the implementation of robust social media customer service that can help lower costs, speed up response times, boost customer satisfaction, and increase the adoption of customer management platforms across industries. Additionally, in 2022, the incident analytics sector witnessed the fastest growth rate. Every industry's increased reliance on IT and data services raises several issues about losses, security, and unwelcome disruptions, necessitating incident analytics software. The segment for incident analytics is driven by a similar rise in losses from theft, damage, or other causes in the manufacturing and retail sectors.

October 2022: BlackBerry has launched Cyber Threat Intelligence (CTI), an experienced threat intelligence service that will offer actionable intelligence on targeted assaults and cybercrime-motivated attackers and initiatives, as well as intelligence reports tailored to industries, regions, and countries, to assist customers in preventing, detecting, and responding to cyberattacks.

Crowd Analytics Verticals Insights

The crowd analytics market segmentation, based on verticals, includes transportation, healthcare, retail, BFSI, media & entertainment. In 2022, the retail category acquired a major market share. The demand for crowd analytics in the retail sector has grown significantly due to the growing need for real-time market information and consumer behavior insights to help businesses plan for long-term sustainability. Utilizing crowd analytics in the retail sector enables accurate demand forecasting, as well as the identification and targeting of the right customers. BFSI is expected to experience the fastest market growth for the forecast period. Real-time reporting, better client retention, risk management, improved processes, and simple data handling are ways that BI technologies help BFSI businesses be more profitable.

Crowd Analytics Regional Insights

By region, the report offers market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American crowd analytics market area will dominate this market. The rapid advancements in automation and digitization in the area and developing technologies are credited with driving market expansion. The regional market expansion is facilitated by recent breakthroughs and improvements, as well as partnerships and collaborations between important regional players.

Further, the leading countries studied in the market report are US, Canada, France, German, Italy, UK, Spain, Japan, China, Australia, India, South Korea, and Brazil.

Figure 3: CROWD ANALYTICS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Europe’s crowd analytics market accounts for the second-largest market share. Government initiatives and expanding R&D infrastructure are propelling market expansion in this region. For instance, the European Commission stated in February 2022 that €292 million would be invested in digital technology. For instance, European blockchain infrastructure, technological advancements in bettering governmental services, crime-fighting AI, and AI testing facilities. The UK government is also dedicated to advancing a massive infrastructure that will facilitate big data analysis. Further, the German crowd analytics market held the largest market share, and the UK crowd analytics market was the rapidly- growing market in the region.

The Asia-Pacific Crowd Analytics Market is expected to grow at the fastest CAGR from 2023 to 2032. Growing potential in Asia Pacific and numerous investments in business intelligence solutions drive the market's expansion. Several new start-ups in the area are helping to increase the usage of BI there. Moreover, China’s crowd analytics market held the largest market share, and the Indian crowd analytics market was the rapidly-growing market in the Asia-Pacific region.

Crowd Analytics Key Market Players & Competitive Insights

Leading market players are largely investing in research and development to expand their product lines, which will help the crowd analytics market, grow even more. The launch of new products, larger-scale mergers and acquisitions, contractual agreements, and collaboration with other organizations are significant market developments in which market participants engage to increase their presence. The crowd analytics industry must provide affordable products to expand and thrive in a more competitive and challenging market environment.

One of the major business strategies manufacturers use in the crowd analytics industry to increase market sector and benefit customers is local manufacturing to lower operational costs. In recent years, the crowd analytics industry has stipulated some of the most important medicinal benefits. Major players in the crowd analytics market, including Spigit Inc. (U.S.), Crowd Dynamics (U.K.), NEC Corporation (Japan), CrowdANALYTIX Inc. (U.S.), and others, are funding operations for research and development to boost market demand.

Nokia operates in four segments and provides telecom equipment and services to develop wireless and fixed-line networks. The company's major sector is mobile networks, which supply equipment and services to telecom operators to power public wireless networks. It is closely followed by network infrastructure. In February 2023, Nokia announced the release of AVA Customer and Mobile Network Insights. This cloud-native analytics software solution streamlines 5G network data collection and analysis to give communication service providers (CSPs) more powerful and cost-effective analytical capabilities. The solution provides "intelligence everywhere" by utilizing AI and machine learning capabilities to facilitate intelligent and automated decision-making based on linked reports from data collected across 5G networks.

Sightcorp is a face analysis and recognition software maker that aims to commercialize computer vision and deep learning technology. The company's software analyses face anonymously in pictures, videos, and real-world contexts, and it aids in reliably validating identities and authenticating users in areas such as access control, KYC, and payment verification. In September 2020, Sightcorp provided edge-hosted computer vision technology for real-time face analysis. Sightcorp's powerful AI technology, developed at the University of Amsterdam, provides retailers and digital signage companies with actionable, real-time insights to maximize ROI. Sightcorp is attempting to digitize the offline world by hosting its technology at the edge – in local retail outlets and other locations. Share

Key Companies in the crowd analytics market include

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  Nokia Corporation (Finland)

  
  


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  Savannah Simulations AG (Switzerland)

  
  


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  AGT International (Switzerland)

  
  


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  Walkbase (Finland)

  
  


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  Spigit Inc. (U.S.)

  
  


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  CrowdANALYTIX Inc. (U.S.)

  
  


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  Crowd Dynamics (U.K.)

  
  


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  NEC Corporation (Japan)

  
  


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  Wavestore (U.K.)

  
  


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  Securion Systems (Ireland)

  
  


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  Sightcorp (The Netherlands)

  
  

Crowd Analytics Industry Developments

April 2021: CrowdVision is acquired by Skyfii to accelerate computer vision capabilities. Skyfii's current airport deployments will be doubled, and new significant international airports such as O'Hare, Heathrow, and JFK will be added. The CrowdVision technology complements Skyfii's growing list of intelligent data sources, allowing it to build the best solutions for customers based on their needs and situations.

January 2022: Raydiant, the leading in-location experience management platform, announced today the acquisition of Sightcorp, a University of Amsterdam spinoff company that provides cutting-edge, proprietary AI-powered audience intelligence for digital signage, digital out-of-home (DOOH) media, and in-store analytics. Raydiant and Sightcorp will collaborate to provide brands with personalized on-screen, in-location experiences that generate anonymized audience and performance statistics.

Crowd Strike, a pioneer in cloud-delivered endpoint, workload, identity, and data security, today unveiled updates to its Security and IT Operations product line for 2022. This includes a new module (Falcon Discover for IoT) to give organisations ground-breaking visibility for IoT and OT environments, as well as new capabilities for the Falcon Discover (Security Hygiene) module to aid IT and security leaders in comprehensively understanding and minimising an organization's attack surface to lower the risk of a potential breach.

The REV7 OS series scanning sensor, powered by Ouster, Inc.'s next-generation L3 chip, has been introduced. Ouster, Inc. is a leading supplier of high-resolution digital lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries. The all-new OSDome sensor is included in REV7, together with revised OS0, OS1, and OS2 sensors, which provide a twofold increase in range, improved object detection, higher precision and accuracy, and increased dependability.

A fully managed software as a service (SaaS) version of Cloudera's data platform, which the company believes is more open than competitors in the crowded industry, will be available in 2022. Analytics and data exploration on a single platform are what Cloudera offers with the Cloudera Data Platform (CDP) One solution, which is initially only available on AWS.

Crowd Analytics Market Segmentation

Crowd Analytics Deployment Outlook

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  Cloud

  
  


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  On-Premise

  
  


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  Hybrid

  
  

Crowd Analytics Application Outlook

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  Market Forecasting

  
  


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  Revenue Forecasting

  
  


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  Incident Analytics

  
  


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  Customer Management

  
  

Crowd Analytics Vertical Outlook

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  Transportation

  
  


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  Healthcare

  
  


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  Retail

  
  


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  BFSI

  
  


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  Media & Entertainment

  
  

Crowd Analytics Regional Outlook

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  North America

  
  

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  US

  
  


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  Canada

  
  

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  Europe

  
  

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  Germany

  
  


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  France

  
  


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  UK

  
  


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  Italy

  
  


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  Spain

  
  


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  Rest of Europe

  
  

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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America