People Counting System Market by Type (Unidirectional, Bidirectional), Technology (Infrared Beam, Thermal Imaging, Video Based), Hardware (Thermal Cameras, Infrared Sensors, Fixed Cameras, Fixed Dome Cameras), Software, End User - Global Forecast to 2028

People Counting System Market by Type (Unidirectional, Bidirectional), Technology (Infrared Beam, Thermal Imaging, Video Based), Hardware (Thermal Cameras, Infrared Sensors, Fixed Cameras, Fixed Dome Cameras), Software, End User - Global Forecast to 2028

The global people counting system market size is expected to grow from USD 1.1 billion in 2023 to USD 2.0 billion by 2028, at a CAGR of 12.9%. The key factors driving the people counting system market growth are surging installation of people counting systems in retail stores, libraries, and transportation hubs and increasing adoption of people counting system to track marketing effectiveness.

“Software segment hold the considerable share of people counting system during the forecast period”

People counting systems operate with software and offer real-time analysis of visitor traffic and footfall activity at several locations, such as retail stores, shopping malls, airports, corporate buildings, and museums, which is increasing its demand. These software solutions process raw data from people counting hardware and generate reports, which offer key insights based on pre-defined operation matrices to help business owners make more efficient business decisions.

“Bidirectional segment to hold highest growth rate from 2023-2028”

In 2022, the bidirectional segment held a larger share of the people counting system market and is expected to hold largest CAGR during the forecast period. The bidirectional people counting systems are highly in demand by end users such as retail stores, supermarkets, shopping malls, transport hubs, corporate offices, and hospitality facilities to avoid congestion and deploy the staff effectively. Furthermore, bidirectional people counting systems can be integrated with several technologies, such as infrared beam, thermal imaging, and video-based, making them suitable for several people counting applications.

“Video based segment is estimated to grow at a highest CAGR during the forecast period”

The video based segment is expected to grow at the highest CAGR of more than 14% from 2023 to 2028. This is mainly because of their ability to provide accurate count of visitors when compared to other technologies. Besides, these people counting systems are mainly utilized for real-time people traffic measurement by using a combined system of hardware and software. These systems help capture and analyze data as well as identify different ways to improve operational efficiency.

“Transportation segment holds the second-largest share of people counting system market in 2022”

People counting systems are widely used in the transportation sector to monitor passenger traffic in various modes of transportation, such as buses, trains, airports, and subways. These systems help transportation companies optimize their fleet management, improve customer service, and make informed decisions based on passenger data. The growth of the segment is attributed to the increase in the adoption of people counting system by transportation facilities in order to improve the traveling experience of customers.

Asia Pacific is expected to capture the largest market growth rate during the forecast period

Asia Pacific is expected hold the largest CAGR of the global people counting system market from 2023-2028. The Asia Pacific comprises a diverse range of economies with varying levels of development and the presence of various manufacturers. The growth of the people counting system market in this region is attributed to the growing population, rapid urbanization, and increasing GDP of emerging markets. Also, the rapid expansion of domestic and international enterprises fuels the growth of the people counting system market.

The break-up of the profiles of primary participants for the report has been given below:

By Company Type: Tier 1 = 52%, Tier 2 = 31%, and Tier 3 = 17%

By Designation: C-Level Executives = 47%, Directors = 31%, and Others= 22%

By Region: North America = 37%, Europe = 28%, Asia Pacific = 31%, and RoW = 04%

Major players operating in the people counting system market include Axis Communications AB (Sweden), iris-GmbH infrared & intelligent sensors (Germany), VIVOTEK Inc. (Taiwan), RETAILNEXT, INC. (US), Hangzhou Hikvision Digital Technology Co., Ltd. (China), V-Count (UK), Eurotech (Italy), and Irisys (InfraRed Integrated Systems Ltd) (UK), among others.

Research Coverage:

The research report on the global people counting system market covers the market based on mounting platform, offering, type, technology, end user, and region. Based on mounting platform, the market has been segmented into ceiling, wall, and floor. Based on offering, the market has been segmented into hardware and software. Hardware segment is further segregated into thermal cameras, infrared sensors, fixed cameras, fixed dome cameras, pan-tilt-zoom cameras. Based on type, the market has been segmented into unidirectional and bidirectional. Based on technology, the market has been segmented into infrared beam, thermal imaging, video based, and others. Video based is further segregated into 2D, 3D, and 4D. Based on end user, the market has been segmented into retail, transportation, corporate, hospitality, banking, healthcare, sports and entertainment, and others. The report covers four major regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Key Benefits of Buying the Report:

The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall people counting system market and the subsegments. This 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 also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Rising installation of people counting systems in libraries, retail stores, and transportation hubs. Increasing adoption of people counting systems to track marketing effectiveness), restraints (Growing privacy threats owing to installation of video-based people counters. Rapid growth of e-commerce industry), opportunities (Integration of 4D technology into video-based people counters. Growing installation of people counting systems in workspaces.), and challenges (Differential store metrics limit effectiveness of video-based counters) influencing the growth of the people counting system market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the people counting system market

Market Development: Comprehensive information about lucrative markets – the report analyses the people counting system market across varied regions

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the people counting system market

Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Axis Communications AB (Sweden), iris-GmbH infrared & intelligent sensors (Germany), VIVOTEK Inc. (Taiwan), RETAILNEXT, INC. (US), and Hangzhou Hikvision Digital Technology Co., Ltd. (China), among others in the people counting system market