Crowd analytics is the process of examining the crowd to discover the behavior patterns of the people in the crowd. Crowd analytics solutions are developed by integrating different technologies such as image processing, modeling, and machine learning. The key objectives of deploying crowd analytics solutions by organizations across the globe are to understand their customers & serve them in an efficient way, to maintain safety & security in the populated area, and utilize the business intelligence data to maintain organizational growth. The crowd analytics provides comprehensive insights into the behavior of individual in the crowd by utilizing its sentimental analysis. The outcomes of these solutions help organizations make information-based decisions and thus the solutions are getting popular in Small and Medium Enterprises (SMEs) and large enterprises.
The market includes a wide number of vendors offering crowd analytics solutions; for instance, 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). Players in this business sector have encompassed different strategies to extend their global presence and expand their market share. New product launches and partnerships & collaborations were the key strategies adopted by industry players to accomplish development in the market. Apart from these, mergers & acquisitions and business expansions are some of the other significant strategies embraced by the market players in the crowd analytics market.
Nokia Corporation is one of the key leaders in the crowd analytics market. The organization has a significant presence in 130 countries, and primarily serves the regions of North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America. Nokia’s long-term strategy lean more towards organic growth where it hopes to develop and launch more products. The launch of a cloud-based multiscreen advertising solution, Nokia Ad Analytics and Nokia Big Data Consultancy clarifies that Nokia will be further putting resources into its organic growth strategy for cementing its market leader position in the crowd analytics market.
NEC Corporation is another such prominent player in the market. The fundamental objective of NEC is to meet every industry client requirement and in addition provide new advancements in the crowd analytics market. The organization serves clients across different industries, such as government, public, healthcare, finance, media, and others. The company has presence in North America, Europe, APAC, MEA, and Latin America. NEC is considered one of the strongest suppliers in crowd analytics solutions. The organization follows organic growth strategy for expansion of its market share. With the new product launch of an artificial intelligence software NeoFace Image data mining, the organization is expanding its client base by delivering real time intelligence to the enterprises across the globe.
The global crowd analytics market is expected 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% from 2016 to 2021.
Crowd Analytics Market by Component (Solution, Service), Application (Customer Management, Marketing Campaign Measurement, Market Forecasting, Pricing Analytics), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2021
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