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People Counting System Market Size, Share, Growth Analysis, Demand Forecast, Revenue, Business Opportunities, Competitive Landscape and Impact of COVID

Jan 13, 2022 7:02 PM ET

People Counting System Market Size, Share, Growth Analysis, Demand Forecast, Revenue, Business Opportunities, Competitive Landscape and Impact of COVID

Market Insight

People counting system has caught widespread attention in recent years with the increasing need for counting people in various sectors. Market Research Future published a report on global people counting system states that increasing security in various places has urged the market to expand at 18.2?GR during the forecast period 2018–2026.

Market Drivers & Trends

The rising demand for people counter device and its multiple applications have helped to garner the position of the market over the years. The function of people counter device is to measure the number and direction of people traversing any passage or entrance per unit time. Its extensive usage in building’s entrance to record the total number of visitors has spread its importance across the world, thus, boosting the market growth. As an add-on, people counting systems have a usage in various industry domains with different technologies such as infrared beams, thermal sensing, video, and many others. Such technological beneficiaries have remarkably initiated market growth, which would also expectedly assist in expanding its value throughout the assessment period.

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In case of point, top players such as Traf-Sys, Inc., Axis Communications AB, FLIR Systems, Infrared integrated systems Ltd. have contributed to the global people counting system market tremendously and can go out of the box to make the device more durable and functional than the present. Furthermore, the impact of people counting system on the increasing security in the public places and transport means is speedily counted and provided worth to its market with an aim to control theft or any risk to have happened. For this, some significant investments are being made by the key players to develop advanced and innovative people counting systems, which would, for sure, thrive the market growth over the assessment period.

On the flip side, factors such as high costs in developing advanced people counting systems can pose as a restraint for the adoption of people counting system by consumers in the coming years. Technical limitation as well could also be a challenge for the key market players in the coming years.

Key Players

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).

Industry Segments

The market for people counting system globally has been segmented into type, connectivity, product, and application.

  • In terms of type, this segment involves bidirectional and unidirectional.
  • The connectivity segment includes wireless and wired.
  • The product segment includes a horizontal beam counting system and overhead people counting system.
  • The application includes retail, transportation, sports & entertainment, banking & finance, government, hospitality, and many more.

Regional Analysis:

Regionally, the global people counting system market is studied across the key regions of North America, Europe, Asia Pacific, and Rest Of the World.

North America acknowledged as one of the largest markets as there has been an early adoption of people counting system in public transportation, entertainment, and hospitality sector with an aim to keep a count of people during passing. During the forecast period, it is the U.S. that is expected to be the leading one in North America and recorded 18.1?GR followed by Canada with 16.4% and Mexico with 13.9% as market growth rate. Retail outlets here such as Costco, Walmart, Kroger have employed the system for a continuous check.

Asia Pacific’s market for people counting system to foresee the fastest growth owing to the growing retail outlets and increasing establishment of shopping malls, which is driving the market remarkably. The population is the most significant factor to bolster the market due to rising urbanization and growing economy. Therefore, for this, a strategic solution is enforced through the people count device, which has led the people counting system and hence boosted the market growth.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.