SELBYVILLE, Delaware, Feb. 12, 2019 /PRNewswire/ --The people counting system market is expected to grow from USD 900 million in 2018 to USD 2000 million by 2025, according to a 2019 Global Market Insights, Inc. report. The market is growing at a rapid pace owing to the adoption of digitized systems for supporting regular operations across several application industries. These systems provide several operational enhancement benefits to installers such as staff optimization and tracking the busiest time slots.
Moreover, the increasing awareness of business intelligence platforms in various industries such retail, entertainment, and hospitality are generating high demand for the advanced customer tracking solutions. The people counting system market is also witnessing technological evolution, such as the development of 3D stereographic components, thermal imaging counters, and behavior analysis technologies, which is compelling the application industry players to adopt these advanced technologies.
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Increasing demand for the effective technologies to analyze, detect and convert potential customers, and for enhancing business sales and profitability is the major factor propelling the people counting systems market. Several industrial sectors such as hospitals, restaurants, pubs and clubs are witnessing high adoption of the technology for tracking the number of customers entering or exiting the facility. These systems help companies to develop effective sales and marketing strategies for attracting the customers and analyzing the buying behavior. These strategies will further help them to compete with the major companies in terms of customer base and sales revenue. Such factors are predicted to boost the market growth.
In 2018, the video-based technology accounted for around 60% of the people counting system market share and is witnessing high adoption owing to increasing technological advancements and innovations in surveillance and monitoring systems. Manufacturers in the market are engaged in developing different types of camera technologies that provide enhanced and clear videos and images. Integration of the video-based technologies in these counting systems provides several advantages to the customers such as remote video capture, easy adjustment to lighting & temperature and effective software upgrades. These advantages are encouraging companies to implement video-based systems in their facilities, driving the market.
Software based people counting systems are witnessing high growth owing to the increased requirement for the effective tools for managing the hardware components and to offer an effective platform for providing inputs and receiving output from the system. These software tools are anticipated to grow at a CAGR of around 15% over the forecast timespan and allow the operators to manage the systems functions, operations and perform several statistical tasks to improve the system performance. Several manufacturers are engaged in developing software technologies that will offer easy connection and authorization to these counting systems.
Browse key industry insights spread across 206 pages with 225 market data tables & 22 figures & charts from the report, "People Counting System Market Size By Technology (Infrared, Thermal Imaging, Video-Based), By Component (Hardware [Fixed Camera, Fixed Dome Camera, PTZ Camera, Infrared Beam], Software) By End-Use (BFSI, Commercial, Government & Defense, Healthcare, Hospitality & Entertainment, Retail, Transportation), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, China, India, Japan, Australia, Singapore, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025" in detail along with the table of contents:
In the people counting system market, entertainment & hospitality sector is witnessing high adoption of these systems due to the increase in customer crowd in restaurants, events, clubs and hotels. The adoption of these counting technologies in pubs, clubs and bars is growing rapidly with the increasing interest of the young generation to visit these places. These facilities have limited floor space which forces them to count the number of people entering the club, to avoid over crowded floor space. Moreover, with the increased adoption of the system, these clubs are benefited with the sales statistics that help them analyze the daily customer sales and number.
The North America people counting systems market is growing at a rapid pace owing to the presence of several system developers and customers in application industries. The rapid increase in retail sector establishments and the adoption of early technical advancements in the U.S. are the major driving factors in the market. The region has advanced transportation facilities that deploy automated management systems for efficient passenger service provision and staff allocation, which is supporting industry expansion. Moreover, rising smart city projects and smart buildings in developed economies is creating a high demand for systems to support building automation initiatives.
Major companies in the people counting system market include Axis Communications AB, Eurotech, FLIR Systems, Inc, Infodev Electronic Designers International, Inc., InfraRed Integrated Systems Ltd., Iris-GmbH Infrared & Intelligent Sensors, RetailNext, Inc, HELLA Aglaia Mobile Vision GmbH and V-Count among others. These players are developing specialized passenger counting systems with varied capabilities that provide better management capabilities to different application segments.
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