What Has Been The Historical And Current Growth Of The Crowd Analytics Market?
The crowd analytics market has seen considerable growth due to a variety of factors.
• The market size for crowd analytics has seen significant expansion in the recent past. Its growth is predicted to increase from $1.57 billion in 2024 to $1.89 billion in 2025, with a compound annual growth rate (CAGR) of 20.5%.
This notable growth during the historic period can be credited to the rise in urbanization, the development of smart cities, progression in sensor technology, heightened security issues, the need for customized experiences, and the broader role of event management.
What Are The Predictions for The Crowd Analytics Market Size In The Coming Years?
The crowd analytics market is expected to maintain its strong growth trajectory in upcoming years.
• Significant expansion is predicted for the crowd analytics market in the coming years, with a projected increase to $3.94 billion by 2029, reflecting a compound annual growth rate (CAGR) of 20.2%.
Factors contributing to this growth within the anticipated time frame include the intensifying adoption of AI and machine learning, the growing utilization of IoT devices, prioritization of public safety and security, the need for data-based decision-making, increased investment in intelligent infrastructure, and improved analytics capabilities. Upcoming trends for the period forecasted involve advanced analytics' integration with AI, exploring new sectors such as retail and transportation, emphasizing real-time data processing, the proliferation of mobile and cloud-based solutions, heightened focus on privacy and data protection, and the emergence of multi-sensor data fusion.
What Are The Primary Growth Drivers In The Crowd Analytics Market?
The escalation in the number of air and rail travelers is projected to stimulate the expansion of the crowd analytics industry. Airline passengers are those who utilize air travel, with counts occurring as they board or deplane at airports. Similarly, rail passengers are individuals using train transport, tallied as they board or disembark at railway stations. The surge of these travelers can be linked to the rebound from travel constraints associated with the health crisis, thus contributing to heightened travel demand and better service accessibility. Moreover, improved travel means and fewer interruptions like strikes are causing an upswing in both airline and rail passenger counts. The utilization of crowd analytics in these sectors helps enhance passenger flow management, boost safety measures, and bolster operational productivity through the analysis of crowd density and movement in real-time. For instance, data from the UK's Office of Road and Rail (ORR) in April 2024 showed that rail passenger journeys in Great Britain saw a 20% rise to 417 million from October to December 2023, a notable increase from the 348 million recorded in the corresponding quarter of 2022. Over the whole year from January 2022 to December 2023, the cumulative number of journeys hit 1.57 billion. As a result, the growing numbers of air and rail travelers are fueling the expansion of the crowd analytics market.
What Are The Core Segments Of The Globa Crowd Analytics Market?
The crowd analytics market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment Model: On-Premise, Cloud
3) By Application: Revenue Forecasting, Incident Analytics, Customer Management, Market Forecasting
4) By Vertical: Banking, Financial Services, And Insurance, Retail And Consumer Goods, Manufacturing, Information Technology (IT) And Telecommunications, Media And Entertainment, Other Verticals
Subsegments:
1) By Solution: Data Collection Tools, Data Analysis and Visualization Software, Real-Time Monitoring Solutions, Predictive Analytics Solutions, Reporting and Dashboard Tools
2) By Services: Consulting Services, Implementation Services, Training and Support Services, Maintenance and Upgrades, Managed Services
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Which Emerging Trends Are Reshaping The Crowd Analytics Market Size?
Significant corporations in the crowd analytics market are focusing their efforts on bringing together computer vision and machine learning technologies, like crowd sense collector sensors, to elevate their understanding of crowd behaviors in real time and improve strategic decision making. The crowd sense collector sensor is a technology that utilizes mobile Wi-Fi signals to observe and calculate the number of people in its proximity in real-world time, investigating patterns, concentrations, and movements. For example, in June 2023, Visual Solutions UK Limited, a tech firm situated in the UK, introduced their crowd sense collector sensor, a superior tool devised for real-time crowd inspection and study. This revolutionary device effortlessly combines with any surroundings, employing mobile Wi-Fi signals to recognize and calculate crowd sizes, supplying businesses with important information on crowd patterns, concentrations, and activities. This technology boosts the competence of tracking and controlling crowd actions, giving tangible data to enhance the safety and operational strategies.
Who Are the Key Players in the Crowd Analytics Market?
Major companies operating in the crowd analytics market are include:
•Microsoft Corporation
• Verizon Communications Inc.
• Amazon Web Services Inc. (AWS)
• International Business Machines Corporation (IBM)
• Nokia Corporation
• NEC Corporation
• Hikvision Digital Technology Co. Ltd.
• Axis Communications AB
• INRIX Inc.
• CrowdFlower Inc.
• Crowd Dynamics International
• Aeris Communications Inc.
• LÜLA Technologies Inc.
• Crowdanalytix Inc.
• Vivacity Labs
• Cepton Technologies Inc.
• Securion Systems Inc.
• Wavestore Limited
• NATIX Inc.
• Auquan
• CircleUp Networks Inc.
• Sightcorp
• Spigit Inc.
• Indoor Lab Inc.
What are the Regional Insights into the Crowd Analytics Market?
North America was the largest region in the crowd analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the crowd analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
