The people counting system market is expected to be worth USD 1,637.4 Million by 2022, at a CAGR of 18.9% between 2016 and 2022. The growth of this market is propelled by the growing retail sector and increase in adoption rate of people counting systems, availability of economical and easy-to-install solutions, and increasing demand from transportation sector for people counting solutions.
The advancements in people counting solutions such as availability of 3D people counting and the growing opportunity in emerging markets such as Latin America, Middle East and Africa would provide ample growth opportunities for the people counting system market in the coming years.
The video-based technology is expected to dominate the people counting system market during the forecast period. The video-based technology offers high accuracy during high-volume traffic, ability to detect the direction in which person or shopper is moving, remains unaffected in varying environments of light, heat, shadows, and it can easily distinguish people from objects and track continuously through a large area for an extended period of time.
The retail stores, supermarkets, and shopping malls application area is expected to lead the market during the forecast period as the retail industry is becoming more complex and is constantly evolving. To sustain amidst the shifting demographics, new technologies, and well-informed shoppers, retailers have to modify their existing strategies to achieve new goals. Retailers need to know the footfalls at their shop at regular intervals to remain competitive in the complex retail world.
By observing the ratio of traffic to sales, retailers can fairly and accurately compare stores with low sales volume to stores with high sales volume. People counters help improve store operations by giving information about the number of people entering the store, passing by the store, duration of their visit, and frequency of their visit. It also helps to measure the performance of marketing campaigns and advertising. Moreover, it also helps in making decisions regarding staff planning. The Wi-Fi tracking technology helps track the potential, actual, and repeating visitors and eliminates the staff from the total traffic to count visitors more accurately.
- Axiomatic Technology Limited
- Axis Communication AB
- Countwise LLC
- Dilax Intelcom GmbH
- Eurotech S.P.A.
- Hella Aglaia Mobile Vision GmbH
- IEE S.A.
- Infrared Integrated Systems Ltd. (IRISys)
- Point Grey Research, Inc.
- Retailnext, Inc.
- Xovis AG
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Market, By Technology
8 Market, By Application
9 Geographic Analysis
10 Competitive Landscape
11 Company Profiles
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SOURCE Research and Markets