Crowd-Sourced Data Collection Industry - Regional Synopsis
North America Market Forecast
The North America crowd-sourced data collection market is estimated to hold a leading revenue share of 41.3% throughout the forecast timeline. The regional market’s growth is attributed to the high adoption of IoT devices in the region. Additionally, the region benefits from a mature healthcare sector in the U.S. and Canada. Another trend bolstering the market in North America is the greater application in marketing, to predict consumer behavior patterns. The regulatory framework in North America remains supportive for the greater adoption of big data analytics, laying the foundation for the market’s sustained growth.
The U.S. crowd-sourced data collection market is poised to remain as the largest contributor in North America. A major driver of the regional market is the growing adoption of sensor-based data collection for wearable devices in healthcare. Additionally, the demand for smart consumer products in the retail sector has risen exponentially in the current decade. With the shift towards digital marketing solutions evident in the U.S., the domestic market is slated to hold on to its leading share in North America.
APAC Market Forecast
The APAC crowd-sourced data collection market is projected to exhibit the fastest expansion throughout the forecast period, rising at a CAGR of 15.3% throughout the forecast period. The regional market’s growth is fueled by the rapid digital transformation across countries such as Japan, South Korea, India, and others. The APAC market’s growth is also supported by the deployment of smart city initiatives, which are reliant on crowd-sourced data for urban planning. Additionally, APAC has one of the highest smartphone penetration rates, creating a rising requirement for mobile-first data collection methods.
The India market is slated to hold a dominant share in APAC. A key factor of growth is the large-scale smartphone penetration and a high-rate of population. Additionally, the government has been supportive in embracing nationwide digitalization through the Digital India mission. Opportunities are expected to be rife in the smart city missions in India as well as in digital marketing. The latter presents burgeoning opportunities for the application of data collection tools due an uptick in digital marketing agencies in the country.
