Crowd Analytics Market

The market growth is primarily driven by growing need of business intelligence solutions and need to install new and advanced surveillance systems.

PORTLAND, PORTLAND, OR, UNITED STATE, August 26, 2022 /EINPresswire.com/ -- Increase in demand for efficient crowd distribution planning in smart cities, upsurge in the number of airlines and train passengers, rising concerns of security and surveillance, and growth in IoT adoption across several industry verticals are the major drivers of the global crowd analytics market. However, the lack of IT infrastructure in underdeveloped nations hampers the market growth. On the contrary, growing inclination toward cloud-based analytics solutions and increase in ICT spending across developed nations are expected to create lucrative opportunities in the near future.

The global crowd analytics market was valued at $912.68 million in 2020, and is projected to reach $5.7 billion by 2030, growing at a CAGR of 20.4% from 2021 to 2030.

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By deployment model, the cloud segment is expected to grow a fastest CAGR during the crowd analytics market forecast period. The cloud-based deployment model does not involve capital cost and is low on maintenance requirements. Hence, it is mostly preferred by SMEs. Direct IT control, internal data delivery & handling, faster data processing, efficient resource utilization, and cost effectiveness of cloud deployment are some of the advantages offered by this model, which are anticipated to boost the market growth.

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Region wise, North America dominated the market in 2020, and is expected to maintain this trend during the forecast period. The market is driven by factors, such as market developments, strong economic growth, ongoing commercialization, and increased in ICT spending by government on various projects including, home land security, tourism, and other people management programs.

The key players operating in the global crowd analytics market analysis include AGT International GmbH, Crowd Dynamics, Crowd Vision Limited, GEODAN, MIRA, NEC Corporation, Nokia Corporation, Savannah Simulations, Spigit, Inc. (Planview), and Walkbase (STRATACACHE). These players have adopted various strategies to increase their market penetration and strengthen their position in the crowd analytics industry.

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Key finding of the study

• By solution, the software segment led the highest crowd analytics market share, in terms of revenue in 2020.

• On the basis of end user, the transportation segment is expected to exhibit the fastest growth rate during the forecast period.

• Region wise, North-America generated the highest revenue in 2020.

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