PUNE, India, December 2, 2016 /PRNewswire/ --
According to a new market research report "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" published by MarketsandMarkets, the market estimated 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%.
Browse 76 market data Tables and 50 Figures spread through 148 Pages and in-depth TOC on "Crowd Analytics Market"
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The major forces driving the Crowd Analytics Market are the increasing security threats and need for intelligent video systems and need for business intelligence solutions. The Crowd Analytics Market is growing rapidly because of the growing needs for business intelligence solutions by the Small and Medium Enterprises (SMEs) and large enterprises.
Marketing campaign measurement application to grow at the highest CAGR from 2016 to 2021
The marketing campaign measurement application is expected to witness the highest CAGR in the global crowd analytics during the period 2016-2021. Marketing campaign measurement applications are useful to evaluate the effectiveness of the marketing campaign and its impact on sales. Moreover, the organizations are focused on understanding consumer insights to understand the needs of consumers and fulfil it. Thus, the market for marketing campaign measurement application is estimated to grow at the highest CAGR during the forecast period.
Consumer Packaged Goods (CPG) and retail vertical to have the largest market size in 2016
The Crowd Analytics Market has been also segmented into various industry verticals; out of which, the adoption of crowd analytics solutions is expected to be the highest in the CPG and retail vertical as the capabilities of solution to deliver real time market intelligence and insights into consumer behavior pattern led the vertical to deploy the crowd analytics solution and strategize the business. Moreover, crowd analytics for travel & tourism, media & entertainment, and public safety verticals are expected to gain traction during the forecast period.
North America is expected to dominate the Crowd Analytics Market in 2016
North America is expected to hold the largest share of the Crowd Analytics Market in 2016 due to the technological advancements and early adoption of crowd analytics in the region. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. The major driving forces for this growth are increasing need for business intelligence solutions and huge opportunities across industry verticals in APAC countries, especially India and China.
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The report also encompasses different strategies, such as new product launches, mergers & acquisitions, partnerships & collaborations, and business expansions, adopted by major players to increase their market share. Some of the major technology vendors include 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).
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