People Counting System Market, by Type (Unidirectional, Bidirectional), Technology (Infrared Beam, Video-Based, Thermal Imaging), and Offering (Software and Hardware), and Application (Queue Management, Exhibition Centers, Restaurants, Airports, Shopping Malls, Others), End-User (Retail Stores, Transportation, Stadiums, Museums, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

People counting systems are also known as counter or footfall counter systems. These are electronic devices that are used to count number of persons entering or passing through a certain entrance. These systems are used in calculation of store conversion rate, compare business performance across other markets, i.e. number of people entering shops or building in a particular time, and others. In addition, these systems enhance traffic count by leveraging data from smartphones that are Wi-Fi enabled. These factors are driving the demand of the global people counting systems in the forecast period. However, development of e-commerce and B2C customer relation is significantly affecting the retail sector. E-commerce has decreased the number of people visiting retail stores, which in turn is predicted to restrain the market growth in the forecast period. 

People Counting System Market Analysis:

People counting systems are utilized to count the number of people entering into a particular area. These systems are capable of providing visit duration &frequency, entrance path analysis, and pass-by traffic. Thus, upsurge in the utilization of people counting systems in various areas such as museums, theme parks, airport, restaurant, exhibition center, and supermarkets have increased the demand of the global people counting system market. In addition, growing preference for retail analytics coupled with analysis of customer behavior and customer preference in hospitality and entertainment end-users have fueled the demand of the people counting system. However, end-users using unidirectional type of people counting systems are facing problems. For instance, companies using Wi-Fi or pressure mat-based technology to
count number of people have been affected due to COVID-19 pandemic as these counting systems do not factor social distancing counting methods.

Rising utilization of people counting systems in various applications such as shopping malls are anticipated to drive the demand of the global people counting system market in the forecast period

These systems are widely adopted in retail analytics to understand customer preference and behavior in various end-users such as hospitals, retail, and entertainment sectors. People counting systems offer real-time measurements using software and hardware combinations. This real-time information aids to enhance management of people entering the premises and security. Globalization and digitization have enhanced retail sector which in turn is adopting the use of people counting systems. Moreover, increasing use of bidirectional people counting systems in transportation, stadiums, and railway station has impacted positively on the market growth. Thus these factors are driving the growth of the global people counting system market in the forecast period. 

Rising E-commerce and B2C business is anticipated to hamper the market growth in the forecast period

Rising prevalence among people to purchase things online rather than visiting retail stores has enhanced the growth of E-commerce sector. Thus, the number of people visiting shopping malls and supermarkets is gradually decreasing, which in turn is anticipated to hamper the development of the market. For instance, Retail Company known as Ascena Retail Group has shut down its stores in parts of U.S. due to the decrease in the occurrence of people to the stores. These factors are predicted to hamper the global people counting system market in the upcoming period.

Technological advancements are predicted to offer opportunities in the global people counting system market

Technological advancements such as 2D and 3D people counting systems are being used in various end-user industries such as transportation, healthcare, retail, and others. These technological advancements have enabled counting systems to be used in low traffic with accuracy level up-to 90%. In addition, these advancements offer tracking of visitors and enhanced accuracy of 95%-100%. Thus, these factors are expected to offer opportunities in the upcoming period.

People Counting System Market, by Type:

Bidirectional type of people counting system market is foreseen to be the fastest growing segment till 2027

By type, the global people counting system market is segmented into unidirectional and bidirectional people counting system. Out of these, bidirectional type is rising with healthier CAGR rate owing to the accuracy of the system and helps to identify direction and visitor count without any human intervention. In addition, it offers enhanced staff management and crowd management as compared to unidirectional people counting system market.

People Counting System Market, by Technology:

Video-based people counting system market is growing with faster CAGR rate and is anticipated to dominate the market till the end of the forecast period

The global people counting system market is segmented in the basis of technology, such as, infrared beam, thermal imaging, and video-based interface. Among these, video-based people counting system segment is growing with faster CAGR owing to the rising prevalence of this technology by end-users such as shopping malls, retail stores, banking, corporate, and others.

People Counting System Market, by Offering:

Hardware offering segment holds the market share and is anticipated to follow the same trend until the end of the forecast period

The global people counting system market is segmented in the basis of offering, such as, software and hardware. Out of these, hardware people counting system market segment holds the major market share and is predicted to follow the same trend until the end of the forecast period. Hardware type people counting systems offer accurate count and major key-players are investing money in development of hardware people counting system market that support to work under tough situations without decreasing the efficiency of the count.

People Counting System Market, by Application:

Airport application segment is anticipated to dominate the market in the projected period

The global people counting system market is segmented on the basis of applications, such as, queue management, exhibition centers, restaurants, airports, shopping malls, and others. Out of these, airport application segment dominated the market share in 2019 and is anticipated to continue its dominance until the end of the forecast period. Airport requires queue management, counting occurrence of people, management of passenger traffic, line-ups, and others. For instance, according to publication by Dubai Airport Committee, it has reduced the wait time of passenger by nearly 20% after using these systems in airport premises. 

People Counting Market, by End-User:

Retail and Shopping Malls end-user is foreseen to be the fastest growing segment till 2027

By end-user, the global people counting system market is bifurcated into retail stores, transportation, stadiums, museums, and others. Among these, retail stores and shopping mall segment dominated the market shares in 2019 and it is anticipated to be the fastest growing end-user in the people counting system market. These systems support in-store analytical applications that help to count and track people in the stores and malls. These also aid generation of Key Performance Indicators (KPI) that optimizes staff and helps to take efficient business decisions. 

People Counting System Market, by Region:

North America region has contributed towards the largest market shares and expected to follow the same until the 2027

The global people counting system market is studied across North America, Europe, Asia-Pacific, and LAMEA regions. Among these, North America region has contributed towards the largest market shares owing to the presence of advanced retail stores, stadium, and others that uses these systems to count the number of people. 

To explore more about the global people counting system market, get in touch with our analysts here.

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Key Participants in the Global People Counting System Market:

Merger & acquisition and advanced product development are the frequent strategies followed by the market players

Major key-players in the global people counting system market are Hella Aglaia Mobile Vision GmbH, Shopper Trak, Eurotech, Retail Next, Axis Communication Inc., Infodev Electronics Designs, Axiomatic Technology, V-Count Inc., Infrared and Intelligent Sensors Inc., Count Wise Ltd., and others.

Market players prefer inorganic growth strategies to expand into local markets. The global people counting system market players are emphasizing more on merger & acquisition and advanced product development. These are the strategies followed by established organizations. To emphasize more on the competitor analysis of market players, Porter's five forces model is explained in the report.

Source: Research Dive Analysis

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