Dublin, Dec. 16, 2021 (GLOBE NEWSWIRE) -- The "Global People Counting Systems Market with COVID-19 Impact Analysis by Type (Unidirectional, Bidirectional), Technology (Thermal Imaging, Video-based), Offering, End-user (Retail Stores, Supermarkets, Shopping Malls), and Region - Forecast to 2026" report has been added to ResearchandMarkets.com's offering.
The global people counting systems market is projected to reach USD 1.4 billion by 2026 from an estimated USD 0.9 billion in 2021, at a CAGR of 9.4% from 2021 to 2026. The incorporation of people counting systems for end users such as retail stores, supermarkets, and shopping malls, and transportation are among the factors driving the growth of the people counting systems market.
The market for the bidirectional segment is expected to grow at the highest CAGR during the forecast period. The growth is attributed to the advantages such as retail analytics, queue management, staff optimization, and space utilization. These people counting systems can identify whether a person is walking in or out of the entrance. They allow end users to count the number of visitors on a particular floor or zone, along with the direction they used to enter/exit. Sensors used in bidirectional people counting systems can scan areas 200 times/seconds, which allows them to work on the accuracy of more than 95%.
In video-based people counters held the largest size of the people counting systems market, and a similar trend is likely to be observed during the forecast period. The growth can be attributed to significant demand for accuracy as this technology is capable of providing a more precise count of visitors compared to other technologies. These systems have a ~95% accuracy and can count in both directions; they may be linked with modern analytical systems that help end users with in-store analytics, dwell time measurement, queue management, etc.
The hardware segment of the people counting systems market is projected to record the highest CAGR during the forecast period. The capacity to gather more precise data necessary for giving an exact visitor count plays a crucial role in expanding the market for hardware offerings. Companies have been substantially investing in the development of additional technology that can operate in severe settings without affecting the efficiency of people counting systems.
The retail stores, supermarkets, and shopping malls end user held the largest size of the people counting systems market in 2020 and a similar trend is likely to be observed during the forecast period. The increased number of shopping malls in emerging nations such as Brazil, India, and China contributes to the growth of the people counting systems market. Retailers can also benefit from people counting systems by obtaining key performance indicators (KPIs) that characterize their current business scenarios. Further, the top companies have been enhancing their product portfolios and cracking deals by signing agreements with various retail stores, shopping malls, and supermarkets to improve customer retention by adopting people counting systems.
Premium Insights
- Attractive Growth Opportunities in People Counting Systems Market - Growing Economies and Emerging Applications to Fuel People Counting Systems Market Growth During Forecast Period
- People Counting Systems Market, by Type and Technology - Bidirectional and Video-based People Counting Systems to Hold Largest Market Share, by Type and Technology, Respectively, in 2026
- People Counting Systems Market, by Offering -Hardware Segment to Account for Larger Share of People Counting Systems Market, by Offering, in 2021 and 2026
- People Counting Systems Market, by End-user -Retail Stores, Supermarkets, and Shopping Malls Together to Account for Largest Size of People Counting Systems Market in 2026
- People Counting Systems Market, by Country - China to Record Highest CAGR in Global People Counting Systems Market During Forecast Period
Market Dynamics
Drivers
- Growing Deployment of People Counting Systems at Retail Stores and Public Places to Maintain Occupancy Limits for Social Distancing due to Outbreak of COVID-19
- Increasing Focus of Retailers, Libraries, and Transportation Hubs on Installing Public Counters Owing to Their Long-Term Benefits
- Rising Adoption of People Counting Systems to Measure Marketing Effectiveness
Restraints
- Increased Privacy Risks
- Rapid Growth of E-Commerce Industry
Opportunities
- Integration of 4D Technology into Video-based People Counters
- Installation of People Counting Systems in Workspaces
Challenges
- Differential Store Metrics Limiting Effectiveness of Video-based Counters
- Negative Impact of COVID-19 on Inventory Management and Manufacturing Capacity of People Counting Devices
Trends/Disruptions Impacting Customers' Businesses
- Revenue Shift and New Revenue Pockets for People Counting Systems Market Players
Company Profiles:
- Axiomatic Technology Ltd.
- Clever Devices Ltd.
- DELOPT
- Density
- DILAX Intelcom GmbH
- Eurotech
- FootfallCam
- Hella Aglaia Mobile Vision GmbH
- IEE S.A.
- Infodev Electronic Designers International Inc.
- Infrared Integrated Systems Ltd.
- Inkryptis AI
- Iris-GmbH Infrared & Intelligent Sensors
- RetailNext
- SensMax Ltd.
- Sensormatic Solutions
- Sensource Inc.
- Teledyne Flir LLC
- Traf-Sys
- V-Count
- Vivotek Inc.
- Xovis AG
For more information about this report visit https://www.researchandmarkets.com/r/fcnwhj
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