Crowd Analytics Market to Hit $5.67 Billion by 2030

The global crowd analytics market size is projected to reach USD 32.20 billion by 2030, according to a report by Market Research Future (MRFR). The market is expected to grow at a CAGR of 23.27% during the forecast period, 2023-2032.

The increasing demand for crowd analytics solutions in various industries, such as transportation, retail, and security, is driving the growth of the market. Crowd analytics solutions are used to collect and analyze data from various sources, such as video surveillance, sensors, and social media, to gain insights into crowd behavior. This information can be used to improve traffic management, optimize retail operations, and prevent crime.

The growing popularity of smart cities is also expected to boost the growth of the market. Smart cities are equipped with intelligent infrastructure that uses data and analytics to improve the quality of life for citizens. Crowd analytics solutions are an important part of smart city infrastructure, as they can be used to monitor traffic, manage public transportation, and improve security.

However, the high cost of crowd analytics solutions is a major restraining factor for the market. Crowd analytics solutions are complex and require specialized expertise to deploy and manage. This high cost can make it difficult for small and medium-sized businesses to adopt crowd analytics solutions.

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Despite the restraining factors, the market is expected to grow at a significant pace during the forecast period. The increasing demand for crowd analytics solutions from various industries and the growing popularity of smart cities are the key factors driving the growth of the market.

Key Players

Some of the key players operating in the global crowd analytics market are:

• IBM Corporation
• Cisco Systems, Inc.
• Oracle Corporation
• Microsoft Corporation
• Huawei Technologies Co., Ltd.
• Intel Corporation
• Sentient Technologies, Inc.
• Cubic Corporation
• Zebra Technologies Corporation
• Avigilon Corporation

Segmentation

The global crowd analytics market is segmented on the basis of solution, deployment, and industry.

On the basis of solution, the market is segmented into video analytics, sensor analytics, and social media analytics. Video analytics is the largest segment of the market, as it is the most widely used solution for crowd analytics. Sensor analytics is the fastest-growing segment of the market, as it is becoming increasingly popular for tracking crowd behavior in real time. Social media analytics is a relatively new segment of the market, but it is expected to grow at a significant pace in the coming years.

On the basis of deployment, the market is segmented into on-premises and cloud-based. Cloud-based deployment is the fastest-growing segment of the market, as it offers several advantages, such as lower cost, scalability, and ease of maintenance.

On the basis of industry, the market is segmented into transportation, retail, security, and others. Transportation is the largest segment of the market, as it is the most important application for crowd analytics. Retail is the fastest-growing segment of the market, as retailers are increasingly using crowd analytics to improve customer experience and optimize operations. Security is another important application for crowd analytics, and it is expected to grow at a significant pace in the coming years.

Regional Analysis

The global crowd analytics market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is the largest market for crowd analytics, followed by Europe and Asia Pacific. The North American market is driven by the high adoption of crowd analytics solutions in the transportation, retail, and security industries. The European market is expected to grow at a significant pace in the coming years, due to the increasing demand for crowd analytics solutions from smart cities. The Asia Pacific market is expected to be the fastest-growing market for crowd analytics, due to the rapid growth of the IT and telecom sector in the region.

Market Trends

• Increasing demand for crowd analytics solutions in smart cities
• Growing popularity of social media analytics
• Rise of big data and analytics
• Increasing demand for real-time crowd analytics
• Growing adoption of cloud-based crowd analytics solutions

Market Challenges

• High cost of crowd analytics solutions
• Lack of skilled professionals
• Privacy concerns
• Security threats

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Conclusion

The global crowd analytics market is expected to grow at a significant pace during the forecast period, 2022-2030. The increasing demand for crowd analytics solutions in various industries, such as transportation, retail, and security, is driving the growth of the market. The growing popularity of smart cities is also expected to boost the growth of the market.