Insights into the Future of Crowd Analytics: Market Report Highlights Growth Drivers 2030

According to a new report published by Allied Market Research, titled, "Crowd Analytics Market," The crowd analytics market size was valued at $912.68 million in 2020, and is estimated to reach $5.7 billion by 2030, growing at a CAGR of 20.4% from 2021 to 2030.

Crowd analytics refers to the use of various technologies, such as video surveillance, Wi-Fi tracking, and other sensors, to gather and analyze data about the behavior and characteristics of crowds in public spaces. This data can include information like crowd density, movement patterns, demographics, and even emotions. By analyzing this data, businesses, governments, and organizations can gain insights into crowd behavior to improve security, optimize operations, enhance customer experiences, and make better-informed decisions.

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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 shortly.

Based on deployment model, the market is bifurcated into on-premise and cloud. The cloud segment is the most lucrative segment and is projected to register the fastest CAGR of 25.6% during the study period. Moreover, the segment held the largest share in 2016, accounting for more than three-fifths of the total market.

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Based on application, the market is segmented into safety & security, crowd flow management, mobility & tracking, and others. The mobility & tracking segment held the largest share in 2016, garnering nearly two-fifths of the market. However, the other segment is expected to manifest the fastest CAGR of 27.0% through 2022.

Based on the solution, the market is divided into software and service. The software segment held the lion's share in 2016, contributing nearly three-fourths of the total market. However, the services segment is expected to manifest the fastest CAGR of 27.9% during the forecast period.

Based on region, the North America segment held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the digital asset management market revenue. The increase in usage of digital asset management solutions in businesses to improve businesses and the customer experience are anticipated to propel the growth of market in this region. However, the Asia-Pacific is expected to witness the fastest CAGR of 19.7% from 2023 to 2032, and is likely to enhance the market growth during the forecast period, owing to increase in penetration of advanced technology and higher adoption of cloud-based solutions and services.

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The market report includes an extensive analysis of the major market players such as AGT International GmbH, Crowd Dynamics International, Crowd Vision Limited, Geodan Next, Mira, NEC Corporation, Nokia Corporation, Savannah Simulations AG, Spigit, Inc., Walkbase, and others.

Here are some key factors shaping the crowd analytics market:

Rising Concerns for Public Safety: Incidents like accidents, stampedes, and terror attacks have underscored the need for better crowd management solutions. As a result, governments and organizations are increasingly investing in crowd analytics to enhance public safety and security.

Advancements in Technology: Technological advancements in areas such as artificial intelligence (AI), machine learning (ML), computer vision, and big data analytics have significantly improved the capabilities of crowd analytics solutions. These advancements have enabled real-time monitoring, predictive analysis, and actionable insights from large volumes of data collected from various sources such as video surveillance, social media, and sensors.

Growing Urbanization and Events: Rapid urbanization and the increasing number of events, such as concerts, sports events, festivals, and political rallies, have led to larger crowds gathering in confined spaces. This trend has amplified the need for effective crowd-management solutions to ensure the safety and well-being of attendees.

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