Northbrook, IL -- (SBWIRE) -- 05/02/2021 -- The overall people counting system market size is expected to grow from USD 818 million in 2020 to USD 1,333 million by 2025; it is estimated to grow at a CAGR of 10.3% during the forecast year. Key factors fueling the growth of this market include the ongoing technological advancements in the retail industry, rising concerns for safety and security at public places, growing need for people counting systems in hospitality, sports and entertainment applications, and the surging demand for people counting systems to ensure the safety of people in public places and retail stores in the midst of COVID-19.
Bidirectional people counting systems accounted for a larger share of people counting system market in 2019
Bidirectional people counting systems accounted for a larger share of the people counting system market in 2019. The high demand for bidirectional people counting systems is attributed by their ability to provide higher accuracy than the unidirectional type. Also, they easily identify the direction and the count of visitors without any human intervention. Hence, they help retail stores, airports, and stadiums to take crowd and staff management decisions.
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Video-based people counting systems holds the largest market share of people counting system market in 2019
Video-based people counting systems hold the largest market in 2019. This growth is mainly due to the wide acceptance of video-based people counting systems in various end-users, such as retail stores, supermarkets, and shopping malls, transportation, corporate, hospitality, banking and financial institutes, and others. Furthermore, technological advancements in video-based people counting systems such as 4D video-based people counting technology are expected to create huge opportunities for video-based people counting systems soon.
People counting hardware holds share of people counting system market in 2019
People counting hardware accounted for a larger share of the people counting system market. The growth of the market for hardware components is attributed to their ability to collect more accurate data required for providing the exact visitor count. Companies have been investing heavily to develop more hardware that can work in harsh environments without compromising on the efficiency of people counting systems. New people counting systems use advanced technologies like 4D video combined with Wi-Fi/Bluetooth tracking, to offer more precise results.
Retail, supermarkets and shopping malls end user to lead people counting system market during the forecast period
The retail, supermarkets and shopping malls end-user is likely to account for the largest share of the people counting system market during 2020–2025. People counting systems offer attractive opportunities for this end-user. Retail players are widely deploying people counter-based devices as they support in-store analytics by counting and tracking customers inside the stores. People counting systems help retailers to generate key performance indicators (KPIs) for staff optimization and taking more efficient business decisions by providing better business insights.
North America is expected to hold a significant share of people counting system market by 2025
North America accounted for the largest share of the people counting system market by 2025. The growth of this market attributes the presence of technologically advanced retail stores and shopping malls, stadiums, banks, and theme parks. Moreover, the presence of a large number of airports that highly require visitor counting and tracking solutions are expected to fuel the growth of the people counting market in the North America region.
Key market players
HELLA Aglaia Mobile Vision GmbH (Germany), Infrared Integrated Solutions (IRISYS) (UK), RetailNext (US), ShopperTrak (US), V-Count (Turkey), Eurotech (Italy), Axiomatic Technology (UK), CountWise (US), Dilax Intelcom GmbH (Germany), and IEE S.A. (Luxembourg) are a few major companies in the people counting system market.