Dublin, May 08, 2023 (GLOBE NEWSWIRE) -- The "Global People Counting Systems Market by Type (Unidirectional, Bidirectional), Technology (Infrared Beam, Thermal Imaging, Video-based), Hardware (Thermal Cameras, Infrared Sensors, Fixed Cameras, Fixed Dome Cameras), Software, End-user, and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global people counting system market is expected to grow from USD 1.1 billion in 2023 to USD 2 billion by 2028, at a CAGR of 12.9%
The key factors driving the people counting system market growth are surging installation of people counting systems in retail stores, libraries, and transportation hubs and increasing adoption of people counting system to track marketing effectiveness.
Software segment hold the considerable share of people counting system during the forecast period
People counting systems operate with software and offer real-time analysis of visitor traffic and footfall activity at several locations, such as retail stores, shopping malls, airports, corporate buildings, and museums, which is increasing its demand.
These software solutions process raw data from people counting hardware and generate reports, which offer key insights based on pre-defined operation matrices to help business owners make more efficient business decisions.
Bidirectional segment to hold highest growth rate from 2023-2028
In 2022, the bidirectional segment held a larger share of the people counting system market and is expected to hold largest CAGR during the forecast period. The bidirectional people counting systems are highly in demand by end-users such as retail stores, supermarkets, shopping malls, transport hubs, corporate offices, and hospitality facilities to avoid congestion and deploy the staff effectively.
Furthermore, bidirectional people counting systems can be integrated with several technologies, such as infrared beam, thermal imaging, and video-based, making them suitable for several people counting applications.
Video based segment is estimated to grow at a highest CAGR during the forecast period
The video based segment is expected to grow at the highest CAGR of more than 14% from 2023 to 2028. This is mainly because of their ability to provide accurate count of visitors when compared to other technologies.
Besides, these people counting systems are mainly utilized for real-time people traffic measurement by using a combined system of hardware and software. These systems help capture and analyze data as well as identify different ways to improve operational efficiency.
Transportation segment holds the second-largest share of people counting system market in 2022
People counting systems are widely used in the transportation sector to monitor passenger traffic in various modes of transportation, such as buses, trains, airports, and subways. These systems help transportation companies optimize their fleet management, improve customer service, and make informed decisions based on passenger data.
The growth of the segment is attributed to the increase in the adoption of people counting system by transportation facilities in order to improve the traveling experience of customers.
Asia-Pacific is expected to capture the largest market growth rate during the forecast period
Asia-Pacific is expected hold the largest CAGR of the global people counting system market from 2023-2028. The Asia-Pacific comprises a diverse range of economies with varying levels of development and the presence of various manufacturers.
The growth of the people counting system market in this region is attributed to the growing population, rapid urbanization, and increasing GDP of emerging markets. Also, the rapid expansion of domestic and international enterprises fuels the growth of the people counting system market.
Competitive landscape
Major players operating in the people counting system market include Axis Communications AB (Sweden), iris-GmbH infrared & intelligent sensors (Germany), VIVOTEK Inc. (Taiwan), RETAILNEXT, INC. (US), Hangzhou Hikvision Digital Technology Co. Ltd. (China), V-Count (UK), Eurotech (Italy), and Irisys (InfraRed Integrated Systems Ltd) (UK), among others.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 237 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.1 Billion |
| Forecasted Market Value (USD) by 2028 | $2 Billion |
| Compound Annual Growth Rate | 12.9% |
| Regions Covered | Global |
Premium Insights
- Increasing Focus of Retailers on Public Safety to Drive Implementation of People Counting Systems
- People Counting System Market for Bidirectional Segment to Hold Larger Share in 2023
- Video-based Technology to Witness Highest CAGR in Market During Forecast Period
- Hardware Segment to Dominate People Counting System Market in 2023
- Retail Segment to Witness Highest CAGR in Market During Forecast Period
- Asia-Pacific to Witness Highest CAGR in People Counting System Market During Forecast Period
Market Dynamics
Drivers
- Rising Installation of People Counting Systems in Libraries, Retail Stores, and Transportation Hubs
- Increasing Adoption of People Counting Systems to Track Marketing Effectiveness
Restraints
- Growing Privacy Threats Owing to Installation of Video-based People Counters
- Rapid Growth of E-Commerce Industry
Opportunities
- Integration of 4D Technology into Video-based People Counters
- Growing Installation of People Counting Systems in Workspaces
Challenges
- Differential Store Metrics Limit Effectiveness of Video-based Counters
Value Chain Analysis
- Ecosystem Analysis
- Pricing Analysis
- Trends/Disruptions Impacting Customer Business
Technology Analysis
- Artificial Intelligence
- Internet of Things
Case Study Analysis
- Calzedonia Incorporated Customer Counting into Its KPI Strategy
- Traf-Sys Aided Harley-Davidson in Employing People Counting Technology at Its Facility
- Ipsos Retail Performance Installed Shopper Count and Occupancy to Measure Footfall at Piece Hall
- Irisys (Infrared Integrated Systems Ltd) Delivered People Counting Systems to Westfield Stratford
- FootfallCam Provided People Counting System to Bonmarche
Company Profiles
Key Players
- Axis Communications AB
- Axiomatic Technology Ltd.
- DILAX Intelcom GmbH
- Eurotech
- FootfallCam
- Hangzhou Hikvision Digital Technology Co. Ltd.
- HELLA Aglaia Mobile Vision GmbH
- IEE Smart Sensing Solutions
- IRIS-GmbH Infrared & Intelligent Sensors
- Irisys (Infrared Integrated Systems Ltd)
- RetailNext, Inc.
- SensMax Ltd.
- Sensormatic Solutions
- Vivotek Inc.
- V-Count
Other Key Players
- Clever Devices Ltd.
- Countwise
- Delopt
- Density
- InfoDev Electronic Designers International Inc.
- Inkryptis AI
- SenSource
- Teledyne Technologies Incorporated
- Traf-Sys
- Xovis AG
For more information about this report visit https://www.researchandmarkets.com/r/iro5qc
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