Crowd Analytics Market Size, Share, Growth Analysis, By Component(Standalone solution, and Services (professional services (System integration, Training and education, Support and maintenance), By Deployment Mode(On-Premises, and Cloud), By Organization Size(SMEs and Large Enterprises), By Application(Customer Management, Marketing Campaign Measurement, Market Forecasting, Pricing Analytics), By Industry Vertical(Consumer-Packaged Goods (CPG) and Retail, Travel and Tourism, Transportation, Media and Entertainment), By Region - Industry Forecast 2024-2031

Global Crowd Analytics Market size was valued at around USD 1.42 billion in 2022 and is expected to rise from USD 1.76 billion in 2023 to reach a value of USD 10.04 Billion by 2031, at a CAGR of 24.3% over the forecast period (2024–2031).

The global Crowd Analytics market has witnessed a rapid growth. With a significant shift of business towards customer-centric point of view, the adoption of crowd analytics software has escalated specially in retail and tourism sector which led the businesses to make insightful decisions, increase in efficiency and profits as well as better consumer experience. Moreover, the growing number of tourists, along with the increasing emphasis of governing authorities on developing smart cities, is catalysing the need for crowd analytics solutions.

According to the International Air Transport Association (IATA), the annual global passenger traffic results for 2021 depicting that demand (revenue passenger kilometres or RPKs) declined by 58.4% compared to the full year of 2019. This represented an improvement compared to 2020, when full year RPKs were dropped to 65.8% compared to 2019.

Many developed as well as developing countries in North America, Europe and Asia-Pacific regions have increased their Information and Communication Technology (ICT) spending on crowd analytics software, services and solutions, due to the increase in need for public management system. In addition to that, the key market players are collaborating with other companies to introduce advanced services.

For instance, The Indoor Lab, a US-based performance analytics service provider, partnered with Cepton, a leading provider of lidar-based solutions, to deliver state-of-the-art space and crowd analytics with unparalleled social distancing and cleaning metrics. Furthermore, due to the outbreak of coronavirus disease (COVID-19), crowd analytics solutions are gaining traction around the world to monitor social distancing among individuals in crowds.