People counting systems help to track the number and direction of people traversing any entrance per unit time. They consist of people counter device and find usage across diverse industry verticals as they can help ascertain the total number of visitors. A comprehensive report has been launched by Market Research Future (MRFR) on the global people counting system market, which contains forecasts for the period of 2018-2026. MRFR has projected a CAGR of 18.2% in the People Counting System Market over the forecast period.
Surging safety in crowded areas has led to the increased adoption of people counting system in retail stores, non-electricity areas, shopping malls, and smart buildings, toilets, museums & libraries, and in meeting rooms. The retail industry is a key end-use industry for people counting system market. the industry is increasingly deploying people counting systems to discover the number of potential customers visiting the stores. Established retail chains are opening across the globe, especially in the developing countries who are investing heavily in people counting systems, which is likely to drive the market in the coming years.
People counting systems are associated with various other technologies such as thermal sensing, infrared beams, video, and others which are highly desirable across various industries. The transport sector has also exhibited considerable interest in the deployment of people counting systems, which is anticipated to spur the demand within the market.
The leading market players are pouring in hefty amounts on furthering the development of the technology, which is augmenting the growth of the people counting system market. Conversely, the growth of the market is at threat from high costs associated with these systems which hinder adoption among end-users. Technical limitations also restrict the growth of the market.
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The key players of global people counting system market are Traf-Sys Inc (US), RetailNext, Inc (US), ShopperTrak RCT Corporation (US), Infrared Integrated Systems Ltd (UK), Axis Communications AB (Sweden), FLIR Systems, Inc (US), Siemens AG (Germany), Eurotech SpA (Italy), iris-GmbH infrared & intelligent sensors (Germany), HELLA GmbH & Co. KGaA (Germany), V-Count (US).
The people counting system market has been segmented based on type, connectivity, product, and application.
- Type-wise, the people counting system market has been segmented into unidirectional and bidirectional.
- By connectivity, the people counting system market has been segmented into wireless and wired.
- By product, the people counting system market has been segmented into horizontal beam counting system and overhead people counting system.
- Application-wise, the people counting system market has been segmented into retail, transportation, sports & entertainment, banking & finance, government, hospitality, and others.
Region-wise, the global people counting system market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
The global people counting system market is dominated by North America on account of increased implementation of these systems in the region. The market is experiencing high demand from various industries such as hospitality, entertainment, public transportation, and retail. The retail industry is highly established in North America. The presence of some major retail brands in the region such as Costco, Walmart, Kroger, the home depot, and Target are influencing the growth of the market. A strong service culture and the availability of state-of-the-art infrastructure has resulted in increased implementation of people counting systems in the region. The US, Mexico, and Canada are the key contributors to the North America market. The US is expected to capture the highest CAGR of 18.1% over the forecast period while Canada and Mexico are anticipated to exhibit a CAGR of 16.4% and 13.9% respectively.
APAC people counting systems market is poised to capture the highest CAGR over the forecast period. Expansion of the retail sector and rise in a number of shopping malls and retail establishments in the region has generated huge demand for people counting systems. Additionally, fast-track urbanization and economic upturn are also supporting the market growth.
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- Sports Organization
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