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The people counting system market size is forecast to increase by USD 897.4 million at a CAGR of 11.38% between 2023 and 2028. The market's growth depends on several factors, including the increasing developments in the market, the accelerated technological advancements in the retail sector, and the increasing use of analytics. People counting systems are comprised of individual counter systems that measure the number and direction of people traversing any entry or channel per unit of time. This gadget is commonly used at building entrances to track the overall number of tourists. People counting methods are used in a variety of industries, such as BFSI, transportation, and healthcare. This market research and growth report includes key market drivers, trends, and challenges during the forecasted period.
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The market is witnessing significant growth driven by various industries, including retail, e-commerce, hospitality, entertainment, and healthcare. With the integration of advanced technologies like 4D technology and WiFi connectivity, these systems offer accurate insights into consumer behavior, facilitating better decision-making and enhancing operational efficiency. Moreover, they play a crucial role in public safety and security measures, contributing to economic growth by providing valuable analytics tools for businesses. Despite potential challenges like trade disruptions, the demand for people counting systems continues to rise, reflecting their importance across diverse sectors.
The market integrates IoT and cloud services to enhance building security across various sectors like malls, events, clubs, and retail stores. With a focus on public safety, supermarkets, shopping malls, and retail spaces implement people monitoring technologies to optimize operations. Advanced solutions, including 4D technology and WiFi systems, cater to the evolving needs of the retail and commercial sectors. These systems not only provide accurate people counting but also offer analytics tools to understand consumer behavior. Amid economic growth and trade disruptions, the adoption of people counting technologies expands into sectors like the hotel, entertainment, and healthcare industries.
Accelerated technological advancements in the retail sector is the key factor driving growth. Retailers have implemented people counting systems to obtain a better knowledge of their consumers and improve their shopping experience. These systems are used in conjunction with retail analytics software to calculate a wide range of key performance indicators (KPIs), including conversion rate, staff planning, visitor count, outside traffic, dwell time, pedestrian foot traffic, walk-in rate, shopper-to-staff ratio, and customer path.
Moreover, in the retail sector, people counting systems provide a variety of benefits, such as high dependability, precision, and the option to remove strollers, carts, and youngsters from the overall count. Consequently, the demand to deploy these systems in their business is increasing in the retail industry. Thus, such factors are expected to propel the growth of the market during the forecast period.
The advent of smart AI-based video surveillance is the primary trend shaping growth. AI brings in smart automation to analyze large volumes of surveillance data to derive intelligent insights. AI accurately analyzes live streams in real-time with limited or no assistance from people. In addition, AI can compensate for human errors by offering a superior standard of facial, faceless, behavioral, and object detection. The growing volume of surveillance data makes manual analysis inefficient.
Therefore, AI-based methodologies are expected to be integrated with video surveillance, which will improve crime spotting and prevention. AI-based video surveillance solutions are also expected to enable predictive crime monitoring. Thus, such advancements in people counting systems are anticipated to fuel the growth of the market during the forecast period.
The rapid growth of the e-commerce industry is a challenge that affects growth. According to the United Nations Conference on Trade and Development (UNCTAD), the top 13 global B2C e-commerce businesses sales were valued at USD 2.9 trillion in 2020. According to UNCTAD, e-commerce accounted for 14% of global retail in 2019, rising to 17% by 2020. E-commerce has had a tremendous impact on worldwide retail growth. The decrease in the number of visits to retail outlets, shopping malls, and supermarkets during the pandemic negatively impacts the demand for people counting systems.
Furthermore, several brick-and-mortar establishments have been closed across the globe due to the threat from e-commerce. For example, Ascena Retail Group (US) declared bankruptcy in June 2020 and shut down 2,800 of its shops, and General Nutrition Center (US) declared bankruptcy in June 2020 and shut down 1,300 of its stores globally in 2020. Thus, such factors are expected to impede the growth of the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
The type segment of the market encompasses a variety of advanced technologies tailored to meet the diverse needs of different sectors. One prominent trend is the integration of IoT (Internet of Things) capabilities, enabling seamless connectivity and data exchange between devices for real-time monitoring and analysis. Additionally, cloud services play a vital role by providing secure storage and accessibility to large volumes of data generated by people counting systems. Building security is a primary application area for these systems, with solutions deployed in malls, events, clubs, and various retail and commercial spaces. In malls and shopping centers, these systems help managers optimize space utilization, understand foot traffic patterns, and enhance overall customer experience.
Similarly, in retail stores and supermarkets, people counting technologies enable efficient staffing, product placement, and customer service strategies. The adoption of people counting systems is driven by the growing demand for accurate and reliable people monitoring technologies, particularly in the retail industry. With the emergence of 4D technology, which incorporates time as an additional dimension, these systems offer enhanced capabilities for tracking and analyzing customer behavior over time. Moreover, the e-commerce industry is increasingly leveraging these systems to gain insights into online and offline customer interactions, bridging the gap between physical stores and digital platforms. Overall, the market continues to evolve, driven by advancements in technology and the growing emphasis on enhancing customer experiences across various sectors.
The market share growth by the bidirectional segment will be significant during the forecast period. The bidirectional segment in the market is expected to witness significant growth due to the growing demand for the ability for higher accuracy in bidirectional compared to unidirectional. The growth of the bidirectional segment is due to the advantages it provides to end-users, such as retail analytics, queue management, staff optimization, and space utilization.
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The bidirectional segment showed a gradual increase in the market share of USD 471.55 million in 2018. Bidirectional people counting systems identify whether a person is walking in or out of the entrance and allow end users to count the number of visitors on a particular floor or zone, along with the direction they used to enter/exit. Sensors used in bidirectional people counting systems scan areas 200 times/seconds, which allows them to work on an accuracy of more than 95%. Such factors, coupled with thorough market research and growth analysis and market growth and forecasting, are expected to propel the growth of the bidirectional segment in the global market during the forecast period. Furthermore, integrating advanced technologies for customer flow analysis and visitor counting can enhance the efficiency and accuracy of bidirectional people counting systems, further driving their adoption in various sectors.
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North America is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US and Canada are the main contributing countries in North America. The increased adoption of people counting systems in North America is attributed to the existence of technologically developed retail stores and shopping malls, stadiums, banks, and amusement parks.
In addition, the growing investment in the retail sector is propelling the demand for people counting systems in the US. Furthermore, some key players, such as InfraRed Integrated Systems, RetailNext, and Teledyne, are headquartered in North America. Also, AI-based and cloud services are also fueling the growth of the regional market. Hence, such factors are expected to fuel the expansion of the regional market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is experiencing substantial growth driven by various sectors such as the hotel sector, entertainment sector, and healthcare sector. With the integration of IoT and 4D technology, innovative solutions for building security and public safety are being developed. People monitoring technologies and people counting technologies, including WiFi systems, are being widely adopted in Retail and commercial spaces, clubs, and events, enabling efficient crowd management and enhancing security measures. Analytics tools play a crucial role in analyzing data collected from these systems, providing valuable insights for decision-making. Despite potential trade disruptions, the market continues to expand, fueled by increasing economic growth and the growing demand for enhanced public safety and security and monitoring solutions across different sectors.
The market is witnessing significant traction across various sectors, such as airports, train stations, brick and mortar stores, and transportation facilities. These systems play a pivotal role in optimizing operations and enhancing customer experience, customer journey, and customer satisfaction by providing real-time data on footfalls, customer service, and occupancy monitoring. With the rise of omnichannel retail and digital marketing, businesses are leveraging people-counting technologies to improve in-store operations, increase conversion rates, and unveil new products effectively. From analyzing spending habits to managing employee staffing, these systems enable retailers, hospitality industries, and industrial establishments to maximize profitability and address lost sales opportunities. With continuous technological developments and urbanization trends, the demand for unidirectional people-counting systems is expected to surge further, driving market expansion.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2022.
Market Scope |
|
Report Coverage |
Details |
Page number |
184 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.38% |
Market Growth 2024-2028 |
USD 897.4 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
10.7 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 33% |
Key countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Axiomatic Technology Ltd., Axis Communications AB, DILAX Intelcom GmbH, Dor Technologies Inc., EUROTECH Spa, FootfallCam, Fortive Corp., Gigabyte Technology Co. Ltd., Hangzhou Hikvision Digital Technology Co. Ltd., HELLA GmbH and Co. KGaA, iris GmbH infrared and intelligent sensors, Johnson Controls International Plc, Koninklijke Philips N.V., RetailNext Inc., Robert Bosch GmbH, SensMax LTD., Teledyne Technologies Inc., Traf Sys Inc., VCount Inc., and VIVOTEK Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Technology
8 Market Segmentation by Application
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
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