Latest News- Crowd Analytics Market: Cloud is expected to lead the Deployment segment during 2024-2028

The Crowd Analytics Market is being driven by Rising number of airline and train passengers

The Crowd Analytics Market is expected to grow at a CAGR of 32.14% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4702.8 million. The global crowd analytics market has witnessed significant growth due to the implementation of advanced crowd management technologies in various industries in response to the COVID-19 pandemic. The increasing demand for crowd safety measures to maintain robust security practices will drive the adoption of crowd analytics solutions in the forecast period. Vendors in this market are responding to this trend by launching new products and engaging in strategic activities to gain a competitive edge. For instance, in January 2021, The Indoor Lab, a leading provider of real-time foot traffic monitoring using lidar sensors, announced a partnership with Cepton, a prominent player in anonymized crowd perception, to create intelligent environments. This strategic alliance is expected to enhance the capabilities of both companies and strengthen their market position. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • Cloud
  • On-premises
• End-user
  • Transportation
  • Retail
  • Others
• Geography
  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
  • APAC
    • China
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising number of airline and train passengers
• Increasing need for Business Intelligence (BI) solutions
• Growing Information and Communications Technology (ICT) expenditure by developed and developing nations

However, the market also witnesses some limitations, which are as follows:

• Lack of expertise and knowledge of cloud resources and architecture
• Complexity of network infrastructure
• High upfront costs for crowd analytics solution

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Market Scope in Crowd Analytics Market Research Report

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Research Analysis Overview

The Crowd Analytics market is witnessing significant growth as defense organizations, public safety agencies, and commercial entities increasingly rely on advanced technologies to ensure security and efficiency. Filmed visuals from cameras and sensors in commercial buildings, public transport, retail malls, stadiums, conference centers, retail stores, city malls, train stations, and airports are being analyzed using Enhanced Video Analytics to detect suspects and crowd behavior. This data is used to optimize city planning, improve public surveillance, and enhance modern restaurant management. The National Restaurant Association and the restaurant industry are leveraging crowd analytics to understand customer preference patterns and boost operational efficiency. Telecom operators are also playing a crucial role in this market by providing the necessary infrastructure and connectivity for real-time data processing and analysis. Overall, the Crowd Analytics market is poised for substantial growth as it offers valuable insights into vital infrastructure, public safety, and commercial operations.

Market Research Overview

One of the key trends in this market is the adoption of SaaS version of crowd analytics solutions, which offer scalability, flexibility, and ease of deployment. Cloudera, Crowd Strike, and NEC are among the major players in this market, providing advanced analytic software that leverages deep learning technology, computer vision, and AI and automation for people counting, behavior detection, and object recognition. These solutions can be deployed on various network infrastructures, including mobile networks, fixed-line networks, and wireless networks, and can be integrated with telecom equipment for real-time data handling and risk management. The retail sector, manufacturing, and transportation are some of the verticals that are increasingly adopting crowd analytics for client retention, incident analytics software, and group transportation planning. Potential risks, such as terrorist acts and criminal activity, are being addressed through proactive strategies that involve the use of filmed visuals, suspect identification, and threat detection. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/