People Counting System Market Size, Share & Industry Analysis, By Component (Hardware, Software) By Technology (Video-based, Thermal imaging, Infrared beams), By End-User (Retail, Supermarkets and shopping malls, Corporate, Government) And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
People counting system comprises devices that help in measuring the number of individuals entering the building premises. These systems help record or monitor the number of tourists entering the passage using different technologies such as thermal sensing systems, infrared beams, thermal imaging systems, video counters, and WiFi trackers. Using advanced machine learning (ML) algorithms allows users to get real-time data about tourists and helps organizations maintain the safety of employees and customers.
The outbreak of COVID-19 helped people count the system market by tracking the number of visitors entering the buildings or organizations. The systems created a virtual environment, which further helped in containing the spread of the virus. Companies present in the market gained more opportunities from COVID-19 as companies enhanced their products to maintain customers' safety.
Key Market Driver -
• Integration of new technologies such as beacons, stereo vision and time of fight (ToF) are the major driver of the market • Digital transformation across transportation and retail industry to drive the demand for people counting system
Key Market Restraint -
• Rapidly growing inclination towards e-commerce to impede the adoption of people counting systems
Key Players Covered:
The significant people counting system market vendors are Traf-Sys, Indodev Electronic Designers International Inc, Xovis AG, FLIR Systems Inc, IEEE, Iris-GmbH infrared & intelligent sensors, Axiomatic Technologies Corporation, Countwise, EUROTECH, Johnsons Controls, RetailNext Inc, InfraRed Integrated Systems Ltd, Axis Communication AB, and Hella Aglaia Mobile Vision GmbH among others.
Key vendors in the people counting system market use various strategies such as partnerships, acquisitions, mergers, and collaboration to enhance their market presence. Awareness of the systems and up-gradation of devices are the plans adopted by the vendors. For instance, in February 2020, YOOBIC's partnership with RetailNext provides retail stores with a completely digital approach to store checks, deploying visual updates, and other common retail tasks.
Regional Analysis:
North America is expected to hold the highest market share due to the presence of airports in the region that requires visitors tracking, counting solutions and rapid adoption of digital technology such as cloud technology that is expected to create demand for people counting system. For instance, 60% of the businesses in the United States use public cloud technology that would further help in the adoption of cloud technology in people counting systems and help in the growth of the market.
Asia Pacific is emerging as the fastest-growing market as the increasing digital transformation across several industries such as supermarkets and shopping malls, retail stores, corporate, transportation, banking, financial institutes, and hospitality is likely to create lucrative opportunities for market players. For example, Mumbai’s Airport witness 45 million passengers in the year 2016-2017, the average shopping center in Delhi hosts 75,000 on weekends. This creates growth opportunities for people counting systems in the region.
Europe is witnessing slow growth in the region due to environment-centric regulations such as General Data Protection Regulations (GDPR). These data protection and privacy policies now allow companies to monitor people's personal information in Europe.
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Segmentation
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Key Industry Developments
- October 2020 - Axis Communication AB launched 3D people counting software Axis P8815-2 3D that is combined with hardware and 3D imaging software to provide real time counting of visitors passing by.
- October 2020 - Johnson Controls launched intelligent frictionless access control for high security environment without disturbing the constant flow of employee and visitors.
- October 2018 – Johnson Controls launched AI Powered Network Video Recorder (NVR) for accurate people counting and tracking. This provide the foundation for artificial intelligence (AI) and self training analytics.
- Ongoing
- 2023
- 2019-2022
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