DUBLIN, September 20, 2021--(BUSINESS WIRE)--The "Global People Counting Systems Market with COVID-19 Impact Analysis by Type (Unidirectional, Bidirectional), Technology (Thermal Imaging, Video-based), Offering, End-user (Retail Stores, Supermarkets, Shopping Malls), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global people counting systems market is projected to reach USD 1.4 billion by 2026 from an estimated USD 0.9 billion in 2021, at a CAGR of 9.4% from 2021 to 2026.
The incorporation of people counting systems for end users such as retail stores, supermarkets, and shopping malls, and transportation are among the factors driving the growth of the people counting systems market.
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 systems 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 systems 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 systems market is projected to record the highest CAGR during the forecast period
The hardware segment of the people counting systems 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 systems 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 systems 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 systems 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 systems market by 2026
In 2026, the people counting systems 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.
Growing Deployment of People Counting Systems at Retail Stores and Public Places to Maintain Occupancy Limits for Social Distancing due to Outbreak of COVID-19
Increasing Focus of Retailers, Libraries, and Transportation Hubs on Installing Public Counters Owing to Their Long-Term Benefits
Rising Adoption of People Counting Systems to Measure Marketing Effectiveness
Increased Privacy Risks
Rapid Growth of E-Commerce Industry
Integration of 4D Technology into Video-based People Counters
Installation of People Counting Systems in Workspaces
Differential Store Metrics Limiting Effectiveness of Video-based Counters
Negative Impact of COVID-19 on Inventory Management and Manufacturing Capacity of People Counting Devices
Trends/Disruptions Impacting Customers' Businesses
Revenue Shift and New Revenue Pockets for People Counting Systems Market Players
Calzedonia Incorporates Customer Counting into Its KPI Strategy
Ipsos Retail Counting Tool Aided Mole Valley District Council to Adhere to Indoor Social Distancing
Traf-Sys Aided Harley-Davidson to Employ People Counting Technology in Its Facility
Ipsos Retail Performance Installed Shopper Count and Occupancy to Measure Footfall at Piece Hall
Motion Detection Technology
Axiomatic Technology Ltd.
Clever Devices Ltd.
DILAX Intelcom GmbH
Hella Aglaia Mobile Vision GmbH
Infodev Electronic Designers International Inc.
Infrared Integrated Systems Ltd.
Iris-GmbH Infrared & Intelligent Sensors
Teledyne Flir LLC
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