Pune, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Global People Counting System Market Overview
People counters are electronic devices used for measuring the count of people passing a certain passage or hallway. The sensors installed in these paths are used to gain an accurate count and measure footfall. The global People Counting System Market size can reach a value of USD 2,278 million by 2026, according to the latest report by Market Research Future (MRFR). It can garner revenues at 18.2% CAGR over the forecast period (2018-2026). The expanding retail sector is likely to be the biggest driver of the market owing to establishment of malls and retail chains by premier brands. According to the World Federation of Direct Selling Association, the global retail industry was valued at USD 192 billion in 2018. The implementation of people counting systems in malls for measuring indoor traffic as well as use of customer data for improving shopping experiences can drive the global market growth. Advantages such as reliability and accuracy of people counting systems can influence its demand greatly. Real-time information of people can assist in security of the establishment as well as accommodate them in peak times.
But the reliance on online shopping and investments in ecommerce can affect the market negatively. The dwindling numbers of people in malls and stores due to the pandemic can present a challenge to the market.
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COVID-19 Impact
The global people counting systems market has faced the effects of the COVID-19 pandemic with sales taking a massive hit. Companies providing systems with Bluetooth, Wi-Fi, and pressure-based mat technologies need to upgrade for adhering to social distancing guidelines. On the other hand, end-user industries such as transport, shopping malls, supermarkets, and retail are likely to command a huge demand of the market in the coming years for using it to measure traffic and effect of Ads and indoor campaigns. However, some companies are rolling out modern version of people counters capable of denying entry to people without face masks or with high temperatures.
Industry Trends:
Effective technologies required for detecting potential customers and converting them into sales is likely to drive the global people counting system market. The systems are used in counting footfall in retail outlets and can play an outsized role in customer experience. Assessment of campaigns and launch of new market campaigns are likely to drive the demand of these systems.
Replacement of manual attendance systems at universities and workplaces with people counting systems can help organizations and institutes in saving time respectively. Elimination of data errors and improved transparency can persuade end-users other than the retail industry in embracing the system in the coming years.
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Segmentation:
By type, the global people counting system market has been segmented into unidirectional and bidirectional. The bidirectional type is expected to capture a large market share over the forecast period owing to its non-intrusive nature and its ability for gauging the direction of customers and count of customers with accuracy.
By connectivity, the global people counting system market has been segmented into wireless and wired. The wireless segment is touted to gain the lead in the market due to relying on RSS metrics between the transmitter and receiver.
By product, the global people counting system market has been segmented into horizontal beam counting system and overhead people counting system.
By application, the global people counting system market has been segmented into government, hospitality, retail, transportation, sports & entertainment, banking & finance, and others. The hospitality sector is estimated to garner huge revenues for the market due to high frequency of people at bars, hotels, clubs, and events. Incorporation of people counting systems would assist managers of establishments for crafting campaigns based on their target audience.
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Regional Segmentation:
Geographical mapping of the people counting system market covers namely North America, Europe, Asia Pacific (APAC), Latin America (LATAM), and the Middle East & Africa (MEA).
North America is estimated to lead the global market by displaying 17.1% CAGR over the forecast period. It was valued at USD 325.1 million in 2018 and accounted for 43% market share in the same year. Presence of strong retail chains such as Kroger, Walmart, and Costco as well as adoption of systems in hospitality, entertainment, and transportation sectors can drive the regional market demand.
APAC is estimated to be lucrative for investment for the people counting system market owing to large number of retail stores, supermarkets, and foreign direct investments schemes offered by governments. Urban development schemes and construction of subways, redevelopment of railways, and expansion of the hospitality sector can drive the regional market demand. The growing middle-class and increased urbanization are other drivers of the market. The region is expected to record 21.1% CAGR over the forecast period.
Competitive Analysis:
The people counting system market is characterized by product launches and partnerships. Awareness of the systems and upgrades to current devices are on the future plans of key leaders. Diversification of portfolios through mergers is likely to strengthen the position of players in the market.
Key players involved in the market
- FLIR Systems Inc
- Traf-Sys Inc
- Axis Communications AB
- ShopperTrak RCT Corporation
- V-Count
- HELLA GmbH & Co. KGaA
- Infrared Integrated Systems Ltd
- Siemens AG
- RetailNext Inc
- Eurotech Sp
- iris-GmbH infrared & intelligent sensors
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Industry News
Portal Beam, a wireless offering by Kontakt.io, is a multi-pronged system capable of indoor services out of which people counting can be used in tracking empty conference halls and rooms. The use of sensors for expediting productivity and creating a safe workplace are likely to lead to its demand.
SenSource, a leading people counting solutions provider, has integrated features in its system for detecting face masks on a person. This is in light of recent violations by customers and troubles faced by healthcare authorities in reining in public fears of the COVID-19 virus.
VergeSense has raked in USD 9 million in funding owing to need for people counting systems in office spaces. The need to adhere to social distancing guidelines after reopening of offices can drive the demand in these sensors.
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