Overview:
For every business, to understand and look into what is going on in their business, keeping a track on customer traffic is of prime importance. People counting systems are usually used in the entrances of retail chain, shopping center, library, museum, bank, sporting venue and restaurant 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 application across various industry domains. The application of these device at retail stores is aimed at calculating marketing effectiveness and conversion rate. Moreover, it is also used for staff planning purpose. In addition, the use of people counting system in shopping malls and concerts is not only limited to calculating footfalls but also to monitor high-traffic areas and for crowd management.
One of the most prominent factors complimenting the people counting system market growth is the rapid expansion of the retail stores across the world. Retailers, in an effort to address the increasing competition and improve footfalls, are widely adopting people counting systems. These systems help stores to identify conversion rates, customer trends and predict staffing requirements among others. The various functionalities of people counting systems include calculating a store’s conversion ratio, 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 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 benefit 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 to track actual, potential, and repeating visitors. However, one of the restraints impacting the people counting system market growth is the unprecedented growth of the e-commerce industry. This considerable online sales growth is expected to be a major challenge for the brick and mortar commerce, thereby impacting the people counting system market growth negatively.
Asia Pacific is expected be one of the most attractive markets for people counting systems in the coming years. Factors such as rapid expansion of retail stores, supermarkets, and shopping malls in the region have attracted large foreign investments in recent years. Moreover, favorable government initiatives towards encouraging foreign retailers to invest in the region is another factor impacting the demand for people counting system market growth positively. Modernization of airports, bus station and railway stations are some other factors complimenting the demand growth for people counting system in the region.
Global People Counting System Market is segmented into the following categories:
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.
