People counting system consists of people counter device that measures the number and direction of people traversing any entrance or a passage per unit time. This device is widely used in the entrances of buildings to record the total number of visitors.
The people counting system market is growing because of high accuracy and reliability factors. There are various technologies associated with people counting systems such as infrared beams, thermal sensing, video and others. These technological advancements have aided people counting system vendors to bring innovation into their systems and software. The people counting systems and analyzing people behavior would encourage an orderly growth in the urban transportation.
Increasing struggle of retail stores with ecommerce players is the major factor driving the growth of people counting system market. By applying digital analytics, using people counting systems helps the retail stores to analyze their weaknesses by analyzing consumer traffic. The people counting system with cameras also helps in gender analysis which further helps the retail stores to decide their focus on placing preferable products into their stores.
The people counting system market has been segmented on the basis of type, technology, product, applications and region. The people counting system market by connectivity is further bifurcated into wired and wireless connectivity. The wireless people counting systems consists of people counter and a sensor network gateway that connects to the LAN or to the cloud network which then uploads the data to any PC on the network or uploads to the cloud. Globally wired connectivity is preferred majorly for the installation of people counting system in retail stores, o shopping malls due to high accuracy in the results.
The global people counting system market is expected to grow approximately at USD 1,139.3 Million by 2022, approx.14.01% of CAGR between 2016 and 2022.
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The key players of people counting system market includes Iris GmbH (Germany), ShopperTrak (U.S.), RetailNext, Inc. (U.S.), Axis Communication AB (Sweden), FLIR Systems (U.S.), HELLA Aglaia Mobile Vision GmbH (Germany), InfraRed Integrated Systems Ltd (UK), IEE S.A. (Luxembourg), Eurotech SpA (Italy) and Traf-sys, Inc.(U.S.)
Global People Counting System Market Analysis & Forecast, from 2016 to 2022
> To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the people counting system market.
> To provide insights about factors affecting the market growth.
> To analyze the people counting system market based porter’s five force analysis etc.
> To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Middle East & Africa.
> To provide country level analysis of the market with respect to the current market size and future prospective.
> To provide country level analysis of the market for segment on the basis of type, connectivity, product and application.
> To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
> To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the people counting system market.
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> Investors and consultants
> System Integrators
> Government Organizations
> Research/Consultancy firms
> Technology solution providers
> Hardware manufacturers
> Entertainment Sector
> Sports Organization
> The global people counting system market is expected to reach USD 1139.3 Million by 2022.
> By Type, bidirectional type in people counting system accounts for the largest market share and is growing with approximately ~16% CAGR during forecast period.
> By Connectivity, wireless sub segment holds the largest market growing with approximately 15% CAGR by the end of forecast period.
> By Product, overhead counting system sub segment holds the largest market growing with approximately 16% CAGR by the end of forecast period.
> By Application, retail sub segment holds the largest market growing with approximately 18% CAGR by the end of forecast period.
> Geographically, North America region has been projected to have the largest market share in global people counting system market followed by Europe region, while Asia-Pacific region has been projected to grow at the highest rate in people counting system market.
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Regional and Country Analysis of People Counting System Market Estimation and Forecast
The regional analysis of people counting system market is being studied for regions such as Asia Pacific, North America, Europe and Middle East & Africa. It has been observed that North America is estimated to account for the largest share of the people counting system market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in people counting system market in North America is attributed to the technical advancements and increasing security concerns in that region. Asia-Pacific is expected to be the fastest growing region due to growing need of upkeep of consumer traffic in retail stores and transport places. The increasing population in the region is major driving factor for the growth of people counting system market.
According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2027. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.
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