Pune, India, Oct. 18, 2022 (GLOBE NEWSWIRE) — The global people counting systems market size is expected to expand thanks to new technologies such as stereo, beacons and time-of-flight (ToF). Additionally, digital transformation in the retail and transportation industry is expected to boost product demand. Fortune Business Insights presents this information in its report entitled “People counting system Market share, 2022-2029.”
The people counting system is a device that allows counting the number of individuals entering the premises of the building. It allows the number of people entering the passage to be recorded or monitored using different technologies such as infrared beams, thermal imaging systems, Wi-Fi trackers and thermal detection systems. Advanced machine learning algorithms allow users to obtain real-time data and help keep employees and customers who experience high demand safe.
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The COVID-19 pandemic has increased demand for products to maintain social distancing
The COVID-19 pandemic has had a positive impact on the market growth. These systems were widely used to track the number of visitors entering buildings and the organization, which helped control the spread of the disease. Companies operating in this market have obtained lucrative opportunities through COVID-19 and have improved their products to keep customers safe.
Based on component, the market is segmented into software and hardware.
In terms of technology, the market is broken down into thermal imaging, video-based, infrared beams, and others.
By end-user, the market is divided into supermarkets and malls, government, retail, media and entertainment, enterprise and others.
Regionally, the market is divided into South America, North America, Europe, Middle East & Africa and Asia-Pacific.
The report offers:
- Key growth drivers, restraining factors, opportunities and potential challenges for the market.
- A comprehensive overview of regional developments.
- List of major industry players.
- Key strategies adopted by market players.
- Latest industry developments include product launches, partnerships, mergers and acquisitions.
Drivers and Constraints:
Growing digital transformation to drive market growth
The growth of the people counting systems market is attributed to the digital transformation in the retail and transportation sectors. Moreover, the integration of new technologies such as stereo, beacons, and time-of-flight (ToF) is a major driver for market growth in the coming years.
On the contrary, a growing e-commerce trend might limit the market growth over the forecast period.
Increased number of airports in North America to increase market share
North America is expected to hold the highest percentage of people counting systems market share owing to airports requiring visitor counting and tracking solutions. The growing adoption of cloud technology is expected to create demand for the product.
Asia-Pacific is expected to show the fastest growth due to increasing digital transformation in retail stores, banks, financial institutes, businesses, transportation and supermarkets.
Europe is growing slowly due to environment-centric regulations such as the General Data Protection Regulation (GDPR).
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Key Players Focus on New Launch to Gain Competitive Edge
Major market players are launching and investing in new products to stay ahead of the competition. Many companies are making collaborative efforts to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
Notable industry development:
October 2020 – Axis Communication AB launched the Axis P8815-2 3D people counting software. The launch is combined with 3D imaging hardware and software to provide a real-time count of passing visitors.
Companies featured in the People Counting System Market Report:
- Traf-Sys (USA)
- Indodev Electronic Designers International Inc. (Canada)
- Xovis AG (Switzerland)
- FLIR Systems Inc. (USA)
- IEEE (USA)
- Infrared and smart sensors Iris-GmbH 9 (Germany)
- Axiomatic Technologies Corporation (Canada)
- Countwise (USA)
- EUROTECH (USA)
- Johnsons Controls (Ireland)
- RetailNext Inc. (USA)
- InfraRed Integrated Systems Ltd (UK)
- Axis Communication AB (Sweden)
- Hella Aglaia Mobile Vision GmbH (Germany)
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