Market Research Report
People Counting System Market by Type (Unidirectional, Bidirectional), Technology (Infrared Beam, Thermal Imaging, Video-Based), Offering, End-User (Retail Stores, Supermarkets, Shopping Malls, Transportation), Region - Global Forecast to 2024
|Published by||MarketsandMarkets||Product code||422974|
|Published||Content info||172 Pages
Delivery time: 1-2 business days
|People Counting System Market by Type (Unidirectional, Bidirectional), Technology (Infrared Beam, Thermal Imaging, Video-Based), Offering, End-User (Retail Stores, Supermarkets, Shopping Malls, Transportation), Region - Global Forecast to 2024|
|Published: September 27, 2019||Content info: 172 Pages||
The overall people counting system market is expected to grow from USD 796 million in 2019 to USD 1,275 million by 2024; it is estimated to record a CAGR of 9.9% during the forecast period. Key factors driving the growth of this market include ongoing technological advancements in the retail industry, rising concerns for safety & security at public places and growing need for people counting systems in hospitality, sports & entertainment applications.
The market for retail, supermarket, and shopping malls is expected to grow at a higher CAGR than other end users during the forecast period. This growth is attributed to the increasing adoption of various technologies such as digital marketing, people counting, analytics, omnichannel retail, and artificial intelligence in brick-and-mortar stores and shopping malls. People counting systems offer critical information about the footfall in a store, which helps store owners to take more effective business decisions. The increasing number of shopping malls in emerging economies such as Brazil, Hungary, Malaysia, South Africa, China, and India also plays a vital role in the growth of the people counting system market. Also, in countries such as the UAE and Saudi Arabia, the number of ongoing constructions for malls and smart buildings drives the growth of the people counting system market.
The video-based people counting system is expected to exhibit the highest CAGR in the overall people counting system market during the forecast period. The growth of the market for Video-based people counting systems can be attributed to its ability to offering accuracy of more than 95% with bidirectional counting abilities. They can be integrated with advanced analytical systems that help end-users for in-store analytics, dwell time measurement, queue management, and others.
North America accounted for the largest share of the people counting system market by 2024. The growth of this market attributes the presence of technologically advanced retail stores and shopping malls, stadiums, banks, and theme parks. Moreover, the presence of a large number of airports that highly require visitor counting and tracking solutions are expected to fuel the growth of the people counting market in the North America region.
Major players profiled in this report:
This report offers detailed insights into the people counting system market, by type, technology, offering, end-user, and region. By type, the people counting system market has been segmented into unidirectional and bidirectional people counting system. By technology, the market has been divided into the infraed beam, thermal imaging, video-based, and other technologies. By offering, the people counting system market has been segmented people counting software and hardware. By end user, the people counting system market has been segmented into retail, supermarkets and shopping malls, transportation, corporate, hospitality, banking and financial institutes, healthcare, sports and entertainment, and other end users. The study forecasts the size of the market in 4 regions-North America, Europe, APAC, and RoW.
The report would help market leaders/new entrants in this market in the following ways:
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*