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Increasing security threats and need for intelligent video systems is driving the growth of the crowd analytics market
MarketsandMarkets estimates the global crowd analytics market to grow from USD 385.1 million in 2016 to USD 1,142.5 million by 2021, at a Compound Annual Growth Rate (CAGR) of 24.3%. The crowd analytics market is growing rapidly as the organizations are more focused on gaining valuable consumer insights and maintain a security in populated places. However, factors such as higher initial upfront cost affecting budgets are the major restraints in the overall growth of the market.
Customer management application to have the largest market size in 2016
Customer management application is estimated to have the largest market size in 2016 as the increased customer base of organizations forced them to deploy crowd analytics solution and manage customers efficiently using the intelligent capabilities of the solution. The growth in the crowd analytics market is associated with the rising need of business intelligence solutions by Small and Medium Enterprises (SMEs) and large organizations across the globe. The marketing campaign measurement application will grow at the highest CAGR during the forecast period, due to the rising need for applications to evaluate the marketing campaigns.
Travel and tourism vertical to have the highest growth rate during the forecast period
Crowd analytics solutions have been deployed across various industry verticals, including Consumer Packaged Goods (CPG) & retail, travel & tourism, transportation, media & entertainment, public safety, healthcare & life sciences, Banking, Financial Services, and Insurance (BFSI), and others. The travel and tourism vertical is expected to witness the highest CAGR during the forecast period because of the increasing adoption of crowd analytics solution to gain comprehensive business intelligence and expand the business.
Asia-Pacific (APAC) is expected to have the highest growth rate during the forecast period
APAC includes emerging economies, such as India and China, which are rapidly deploying crowd analytics solutions. This is mainly due to the digitization of businesses and adoption of cloud services by small, medium, and large enterprises in the region.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the security testing market place.
- By Company Type: Tier 1: 12%, Tier 2: 32%, Tier 3: 56%
- By Designation: C-Level: 68%, Director Level: 19%, Others: 13%
- By Region: North America: 21%, Europe: 58%, Asia-Pacific: 12%, Rest of the World (ROW): 9%
The report includes the study of key players offering crowd analytics solutions and services; Nokia Corporation (Finland), AGT International (Switzerland), NEC Corporation (Japan), Walkbase (Finland), Spigit, Inc. (U.S.), Wavestore (U.K.), Savannah Simulations AG (Switzerland), CrowdANALYTIX, Inc. (U.S.), Securion Systems (Ireland), Crowd Dynamics (U.K.), and Sightcorp (The Netherlands) are some of the companies profiled in the report. The report includes in-depth competitive analysis of these key players in the crowd analytics market, with their company profiles, SWOT analysis, recent developments, and key market strategies.
The global crowd analytics market has been segmented on the basis of standalone solution, service, application, deployment mode, organization size, vertical, and region.
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the crowd analytics market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
- The report helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
- This report will help the stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.