People Counting System Market Growth, Future Prospects, & Competitive Analysis, 2018 – 2026

Overview:

For every business to understand and look into what is going on in their business, keeping track of customer traffic is of prime importance. People counting systems are usually used at the entrances of retail chains, shopping centers, libraries, museums, banks, sporting venues, and restaurants, among others, in order to record the total number of visitors. The basic aim of keeping a count of visitors is to facilitate well-informed decisions about a business. People counting systems are used to count visitors traversing through a particular entrance or passage and find applications across various industry domains. The application of these devices at retail stores is aimed at calculating marketing effectiveness and conversion rate. Moreover, it is also used for staff planning purposes. In addition, the use of people counting systems in shopping malls and concerts is not only limited to calculating footfalls but also to monitoring high-traffic areas and crowd management.

One of the most prominent factors complimenting the people counting system’s market growth is the rapid expansion of retail stores across the world. Retailers are widely implementing people counting systems in order to combat rising competition and increase footfall. These systems help stores identify conversion rates, customer trends, and staffing requirements, among others. The various functionalities of people counting systems include calculating a store’s conversion ratio, analyzing footfall patterns, improving customer service, and optimizing a building’s layout. Moreover, the availability of easy-to-set-up and low-cost people-counting solutions is another prominent factor supporting the market’s growth.

As per recent trends, it has been observed that the demand for video-based people counting systems has increased significantly in recent years, owing to the various benefits it offers, such as high accuracy and reliability. In addition, Wi-Fi tracking technology is another area gaining popularity in recent years. The technology enables us to track actual, potential, and repeat visitors. However, one of the restraints impacting the people counting system’s market growth is the unprecedented growth of the e-commerce industry. This considerable online sales growth is expected to be a major challenge for brick-and-mortar commerce, thereby impacting the people counting system’s market growth negatively.

Asia Pacific is expected to be one of the most attractive markets for population counting systems in the coming years. Factors such as the rapid expansion of retail stores, supermarkets, and shopping malls in the region have attracted large foreign investments in recent years. Furthermore, favorable government initiatives encouraging foreign retailers to invest in the region are another factor positively influencing demand and market growth. Modernization of airports, bus stations, and railway stations are some other factors contributing to the growth in demand for people counting systems in the region.

The global people counting system market is segmented into the following categories:

By Technology

• Thermal Imaging
• IE Beam
• Video-based

By Component

• Hardware
• Software

By End-user

• Retail
• Banking and Financial Institutes
• Transportation
• Corporate
• Healthcare
• Hospitality
• Sports and Entertainment

By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World (RoW)

Key players identified in the people counting system market include but are not limited to:

Axis Communications AB, InfraRed Integrated Systems Ltd., ShopperTrak RCT Corporation, HELLA Aglaia Mobile Vision GmbH, RetailNext, Inc., Axiomatic Technology Ltd., Eurotech S.p.A., DILAX Intelcom GmbH, FLIR Integrated Imaging Solutions, Inc., and Iris GmbH, among others.