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Crowd-Sourced Data Collection Market size is poised to grow at substantial growth rate during the forecast period i.e., between 2024-2036. The growth of the market can be attributed to the increasing implementation of artificial intelligence into crowd sourcing platforms, and growing technological advancements in crowd-sourced data collection techniques. In 2019, more than 35 percent of organizations around the world had already deployed artificial intelligence in the workplace. As of 2020, almost 30 percent of small and medium sized enterprises have also deployed AI. In addition to these, crowd sourcing offers plenty of benefits such as agility, cost-effectiveness, and ability to collaborate with people of multiple talents, which is predicted to boost the demand for several crowd-sourcing applications. This in turn is expected to drive market growth in the coming years. Furthermore, rising investments by companies to develop innovative concepts for machine learning and swarm intelligence is projected to provide abundant growth opportunities to the market in the near future.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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Regional Scope |
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The market is segmented by end user into healthcare, education, non-profit organization, IT & telecommunication, media, and others, out of which, the IT & telecommunication segment is anticipated to hold the largest share in the crowd-sourced data collection market on account of the benefits offered by crowd sourcing in launching software updates for improving performance, fixing bugs and enhancing security of computer programs. In addition, the media segment is assessed to observe the highest growth over the forecast period owing to the growing usage of crowd-sourced data collection for marketing and public relations in finding the right target audience. Moreover, on the basis of platform type, the managed service platform segment is predicted to witness a significant growth over the forecast period, which can be ascribed to the ability of managed services to expand or upgrade systems as per need, without the need to hire or train employees.
Our in-depth analysis of the global market includes the following segments:
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By Platform Type |
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By End User |
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On the basis of geographical analysis, the crowd-sourced data collection market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the Asia Pacific is anticipated to dominate majority revenue share by 2036, on the back of increasing technological developments in data crowdsourcing, and growing establishment of startups in the ICT sector of the region. Apart from these, robust growth of industrialization and rapidly increasing urbanization are also expected to drive market growth in the near future. As per the data provided by the World Bank, the total percentage of people living in the urban areas was 60.695 percent in 2020, up from 59.887 percent in the year 2019. Moreover, the market in North America is projected to acquire the largest share over the forecast period ascribing to the early adoption of technology, strong presence of major IT market players and escalating number of collaborations among companies in the region.
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
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