The incorporation of people counting system for end users such as retail stores, supermarkets, and shopping malls, and transportation are among the factors driving the growth of the people counting system market.
New York, Sept. 06, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "People Counting System Market with COVID-19 Impact Analysis by Type, Technology, Offering, End-User, Region - Global Forecast to 2026" - https://www.reportlinker.com/p04648402/?utm_source=GNW
The market for the bidirectional segment is expected to grow at the highest CAGR during the forecast period.
The market for the bidirectional segment is expected to grow at the highest CAGR during the forecast period.The growth is attributed to the advantages such as retail analytics, queue management, staff optimization, and space utilization.
These people counting systems can identify whether a person is walking in or out of the entrance.They allow end users to count the number of visitors on a particular floor or zone, along with the direction they used to enter/exit.
Sensors used in bidirectional people counting systems can scan areas 200 times/seconds, which allows them to work on the accuracy of more than 95%.
The video-based people counters held the major share of the people counting system market in 2020, and this trend is expected to continue during the forecast period.
In video-based people counters held the largest size of the people counting system market, and a similar trend is likely to be observed during the forecast period.The growth can be attributed to significant demand for accuracy as this technology is capable of providing a more precise count of visitors compared to other technologies.
These systems have a ~95% accuracy and can count in both directions; they may be linked with modern analytical systems that help end users with in-store analytics, dwell time measurement, queue management, etc.
The hardware segment of the people counting system market is projected to record the highest CAGR during the forecast period.
The hardware segment of the people counting system market is projected to record the highest CAGR during the forecast period.The capacity to gather more precise data necessary for giving an exact visitor count plays a crucial role in expanding the market for hardware offerings.
Companies have been substantially investing in the development of additional technology that can operate in severe settings without affecting the efficiency of people counting systems.
The retail stores, supermarkets, and shopping malls end user held the largest share of the people counting system market, and this trend is expected to continue during the forecast period.
The retail stores, supermarkets, and shopping malls end user held the largest size of the people counting system market in 2020 and a similar trend is likely to be observed during the forecast period.The increased number of shopping malls in emerging nations such as Brazil, India, and China contributes to the growth of the people counting system market.
Retailers can also benefit from people counting systems by obtaining key performance indicators (KPIs) that characterize their current business scenarios. Further, the top companies have been enhancing their product portfolios and cracking deals by signing agreements with various retail stores, shopping malls, and supermarkets to improve customer retention by adopting people counting systems.
Based on region, North America is expected to account for the highest CAGR of the people counting system market by 2026
In 2026, the people counting system market in North America is expected to grow at the highest CAGR during the forecast period.The increased adoption of people counters in the region is attributed to the existence of technologically advanced retail stores and shopping malls, stadiums, banks, and amusement parks.
It is also predicted to grow at a considerably high rate due to the presence of a significant number of airports which require visitor counting and tracking solutions. Further, some major players such as InfraRed Integrated Systems Ltd (IRISYS), RetailNext, and Teledyne FLIR LLC are headquartered in North America which spur the growth of the market.
In-depth interviews have been conducted with chief executive officers (CEOs), marketing managers, and other executives from various key organizations operating in the people counting system marketplace.
• By Company Type: Tier 1 – 45%, Tier 2 – 35%, and Tier 3 – 20%
• By Designation: C-level Executives – 32%, Managers – 40%, and Others – 28%
• By Region: North America – 37%, Europe – 40%, APAC – 15%, and RoW – 8%
Integrated Systems Ltd (IRISYS) (US); Sensormatic Solutions (US); RetailNext (US); HELLA Aglaia Mobile Vision GmbH (Germany); V-Count (Turkey); FootfallCam (UK); Eurotech (Italy); Axiomatic Technology Ltd. (UK), DILAX Intelcom GmbH (Germany); IEE S.A. (Luxembourg); SensMax Ltd (Latvia); are some of the key players in the people counting system market.
The study includes an in-depth competitive analysis of these key players in the people counting system market, with their company profiles, recent developments, and key market strategies.
The report defines, describes, and forecasts the people counting system market based on type, technology, offering, end user, and region.It provides detailed information regarding factors such as drivers, restraints, opportunities, and challenges influencing the growth of the people counting system market.
It also analyzes product launches, expansions, partnerships, collaborations, and contracts, carried out by the key players to grow in the market.
Key Benefits of Buying the Report
This report will help market leaders/new entrants in this industry with information on the closest approximations of the revenue numbers for the overall people counting system market and the subsegments.The report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report will also help stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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