Crowd Management and Event Security Market Trends

Growth Drivers

• Large-Scale Adoption of the Internet of Things (IoT) Platform- There has been a significant increase in the number of Internet of Things platforms adopted around the world. The use of the Internet of Things continues to grow as a consequence of increased demand for intelligent equipment and strong communication infrastructure. The benefits of digital transformation in terms of security and safety for individuals within a population can be effectively managed through crowd management systems. The number of current global IoT devices (7 billion) may seem staggering but thanks, 5G and other technologies, this figure is expected to grow by over 3x to 25.44 billion total IoT devices by 2030.

• Increase in Investments- The growth of the market is due to increasing investment in crowd management and event security systems tools and solutions. 85% of marketers across the globe report that their companies treat sponsoring events as a priority. Owing to this people have started investing in crowd management and event security during any event organized by any organization for a smooth and successful event.

• Development of Cloud-Based Technology- The adoption of emerging cloud-based technology through deployment of public cloud and on-premises cloud is anticipated to create major opportunities for the global crowd management and event security market.  For instance, 60% of global corporate data is in the cloud. A multi-cloud infrastructure was adopted by 90 % of the world's largest companies.

Challenges

• Ability to Communicate- The capacity to interact and exchange information with other stakeholders without experiencing network disruptions is one of the difficulties facing the crowd control and event security business. Due to the large number of parties participating, including the law enforcement agencies, communication is necessary not just inside the venue but also outside and throughout the city. Each of these groups may employ a different technology, which might result in a number of constraints when interacting with one another.

• Large Upfront Costs and a Lack of Investment.

• As a Result of the Covid19 Outbreak, a Large Number of Events were Cancelled.