October 17, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Global People Counting System Market Insights, Forecast to 2025’, the worldwide people counting system market is anticipated to accumulate US $2410 million by the year 2025.
People counting systems are devices that are used in counting the number of people passing through a specific passage or entrance. The market growth is boosted by the expanding retail sector, availability of easy-to-install and economical solutions, and growing demand from transportation sector. The solution is beneficial for calculating conversion rate, analyzing marketing effectiveness, planning staff, hence encouraging its adoption, thereby propelling the growth of people counting system market. Another factor aiding the market expansion is the advancement in the field with the introduction of 3D people counting systems.
As per the research, people counting system market was worth US $690 million in 2018 and is predicted to register a growth rate of 17% over the analysis timeframe. The research also provides a comprehensive insight about the segmental shares, trends, drivers, challenges, restraints, and opportunities impacting the industry growth.
Speaking of the product type, the market is segmented as IR beam, video based, thermal imaging, and others. The video-based technology segment is presumed to dominate the people counting system market over the forecast period, owing to high accuracy of system during high-traffic situation, ability to differentiate people from objects, and stay unaffected by changing light & heat.
Considering the application spectrum, the people counting system market is fragmented as government, retail, sports & entertainment, transportation, hospitality, banking & finance and others.
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Based on the regional landscape, the global people counting system market is divided into five major regions; North America comprises of Mexico, United States, and Canada; Russia, Germany, France, Italy, UK, and rest of Europe fall under Europe; Asia Pacific consists of Vietnam, China, Malaysia, Japan, India, Thailand, Australia, Indonesia, Philippines, and South Korea; Middle East & Africa is split into Turkey, GCC Countries, Egypt, South Africa, and rest of Middle East & Africa; and Brazil and rest of South America come under Central & South America.
The prominent manufacturers operating in people counting system market include HELLA Aglaia Mobile Vision GmbH, RetailNext, IEE S.A., ShopperTrak, Xovis AG, DILAX Intelcom GmbH, V-Count, IRIS-GmbH, Countwise LLC, Eurotech S.P.A., WINNER Technology, Brickstream, InfraRed Integrated Systems, Axis Communication AB, Hikvision, and Axiomatic Technology.
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