Portland, June 04, 2019 (GLOBE NEWSWIRE) -- According to the report, global crowd analytics market was pegged at $404 million in 2016 and is projected to reach $1.53 billion by 2022, registering a CAGR of 24.9% from 2016 to 2022.
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.
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The global crowd analytics market is segmented on the basis of solution, deployment model, application, end user, and geography. 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.
On the basis of 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.
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.
The global crowd analytics market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2016, contributing more than one-third of the market. However, the market across the Asia-Pacific region is expected to register the fastest CAGR of 27.4% during the forecast period.
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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.
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