Asia Pacific to Register Highest CAGR in People Counting System Market During Forecast Period

Ongoing technological advancements in surveillance and security industries coupled with the growing safety & security concerns to drive the growth of global people counting system market

According to TechSci Research report, “Global People Counting System Market By Type, By Offering, By Technology, By End User, By Region, Forecast & Opportunities, 2024”, the global people counting system market is expected to grow at a formidable rate of around 10% during the forecast period since transportation facility providers such as airports, railway stations and other transit segments are deploying passenger counting systems to provide increased security to passengers and manage the incoming traffic during the peak hours by accommodating accurate number of passengers. However, high costs involved in setting up of advanced people counting systems can hamper the growth of market during forecast period. Further, there are certain technological limitations associated with this system which can restrict the market growth.

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The global people counting system market is segmented based on type, offering, technology, end user, company and region. Based on offering, the market can be divided into hardware and software. The hardware segment is expected to dominate the market owing to the increasing investments by the key players in developing more robust hardware that can work in harsh environments without compromising on the efficiency of people counting systems. Based on technology, the market can be categorized into infrared beam, thermal imaging, video-based and others. The video-based technology segment is expected to register significant growth in the market owing to the wide acceptance of video-based people counting systems in various end-user industries, such as retail stores, supermarkets, and shopping malls, transportation, corporate, hospitality, banking and financial institutes, among others. Based on end user, the market can be fragmented into retail, supermarkets and shopping malls, transportation, corporate, hospitality, BFSI institutes, healthcare and others. The retail, supermarket and shopping malls segment dominate the market since these systems are helpful in calculating the conversion rates, staff planning, and hence enhance marketing effectiveness. Additionally, they are also used for crowd management in crowded places such as shopping malls and concerts.

Axis Communications, HELLA Aglaia Mobile Vision GmbH, Infrared Integrated Solutions, RetailNext, ShopperTrak, Eurotech, Axiomatic Technology, CountWise, Dilax Intelcom GmbH, IEE S.A. and others are some of the leading players operating in global people counting system market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. For instance, in September 2018, HELLA Aglaia Mobile Vision (GmbH) launched the APS-B light-weight people detector for buses/transportation application.

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“Asia-Pacific is expected to be the fastest growing market for people counting systems during the forecast period, owing to the growing economies and emerging opportunities in different sectors such as retail, transportation, and hospitality. Additionally, the presence of many emerging players is creating intense competition, which is directly benefiting customers in the region.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global People Counting System Market By Type, By Offering, By Technology, By End User, By Region, Forecast & Opportunities, 2024” has evaluated the future growth potential of global people counting system market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global people counting system market.

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