Globally, organisations are rapidly focusing on gaining maximum valuable consumer insights to improve their product and services. Crowd analytics solutions collect aggregate and find critical information that relate to everyday living of people. By using specific models of data sourcing and extraction by crowd analytics, the organisations can obtain ideas and quality insights of decisions that are needed to achieve cumulative results for better business services. Crowd analytics therefore enables businesses to observe population and demographics feel and react to the services offered by them.
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Managing and understanding the behaviour of crowd is very difficult in various sectors such as transportation & logistics for smart hub management, safety in big public events and operational efficiencies for retail channels. Therefore, crowd analytics include deep video analytics to extract the flow of crowd from video streams, and analysis of social media platforms to better understand the mood of crowd and sentiments in real time. This determines how useful and critical information from multiple diverse sources can be connected to monitor and predict the movement of large crowd in an effective and more efficient way.
Increasing security threats, need for interpreting consumer behaviour solutions by large business sectors, increasing need for smart business intelligence through insightful information and demand for intelligent video systems capable of interpreting behavioural data are some key drivers to the growth of the global crowd analytics market.
As an advanced practical solution towards behaviour understanding, major demand for crowd analytics is generated from enterprises looking for cost effective, time efficient smart solutions. This includes prospecting early stage companies and large enterprises from healthcare, mobile technology, energy and media industry.
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Asia-Pacific (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.
The global crowd analytics market is focusing overall growth of the business through new advance technology solutions. Rapid digitization of small & large businesses and adoption of cloud based solutions and need for smart monitoring systems in emerging economies of APAC, such as China and India, the regions have potential growth opportunities in crowd analytics. With more spending and investments in high living standards and early adoption of new technology based solutions, North America & Europe are expected to show high growth rate in this market.
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