People Counting System Market-Overview
The rise in population globally has necessitated the demand for control measures, especially at POS, motivating the people counting system market 2020. The SEM industry reports are produced by Market Research Future, which highlights market options for expansion. The market is estimated to be guided by an 18.2% CAGR in the forecast period.
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The growing security concerns, coupled with the need to ensure lower wait times, are estimated to promote the growth of the people counting system industry. Moreover, as seen in the current pandemic situation of COVID -19, it is essential to enforce social distancing in essential facilities, and people counting systems can potentially reduce the possibility of infections.
Key Players
The key players operating in the global People Counting System Market are RetailNext, Inc (US), Traf-Sys Inc (US), ShopperTrak RCT Corporation (US), Axis Communications AB (Sweden), Infrared Integrated Systems Ltd (UK),FLIR Systems, Inc (US), HELLA GmbH & Co. KGaA (Germany), Eurotech SpA (Italy), Siemens AG (Germany), iris-GmbH infrared & intelligent sensors (Germany), V-Count (US).
Market Segmentation:
The People Counting System Market report is segmented into five dynamics;
- By Type : Bidirectional, Unidirectional, and others.
- By Connectivity: Wireless and Wired.
- By Product: Horizontal Beam Counting System and Overhead People Counting System.
- By Application: Retail, Transportation, Sports & Entertainment, Banking & Finance, Government, Hospitality, and others.
- By Regions: Americas, Europe, APAC, and Rest of the World.
Regional Analysis:
North America dominates the global people counting system market. The largest market share attributes to the vast technological advances and the rising demand for advanced people worldwide. Besides, increasing sales of cutting-edge counting systems that help companies and organizations to accurately collect actionable foot traffic data, including real-time occupancy counts, increase the regional market size.
In many places across the US, state governments have made stricter pandemic mandates for the limited numbers of visitors and occupants in a building, mall, or office spaces. The North American people counter market is projected to retain its dominance, registering 17% CAGR throughout the forecast period.
Europe stands second in the global people counting system market. This market is gaining momentum as businesses in the region are constantly monitoring new developments, shaping their technologies, such as sensors and real-time occupancy monitoring technology.
Additionally, the market is driven by the increasing penetration of the Internet and payment security needs. Valuation of the European people counting system market had reached USD 204.1 MN in 2018, which is projected to appreciate further at 18.5% CAGR during the assessment period.
The Asia Pacific region is emerging as the fastest-growing market for people counting systems globally. Factors such as rising numbers of supermarkets, retail stores, & shopping malls and rapid economic growth & urbanization influence the market share.
Moreover, the early adoption of people counters in public transportation, hospitality, and entertainment sectors substantiates the market demand. Countries like India, China, Japan, and Singapore are at the forefront of leading the regional market. The APAC people counting system market is expected to register 21.1% CAGR throughout the review period.
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