Global People Counting System Market Size to grow USD 2.65 Billion by 2030 | CAGR of 12.2%

Category: Semiconductors & Electronics

RELEASE DATE Dec 2022
REPORT ID SI1428

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Global People Counting System Market worth $1.05 billion by 2030

 

According to a research report published by Spherical Insights & Consulting, The Global People Counting System Market Size to grow from USD 1.05 billion in 2021 to USD 2.65 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period.

 

People Counting System Market

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Browse key industry insights spread across 210 pages with 131 market data tables and figures & charts from the report “Global People Counting System Market Size, Share, and COVID-19 Impact Analysis, By End-use (BFSI, Corporate), By Offering (Hardware, Software), By Mounting Platform (Ceiling, Wall), By Type, By Technology, by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030 in detail along with the table of contents. https://www.sphericalinsights.com/reports/people-counting-system-market

 

A device that counts people and tracks how many people pass through any entrance or passageway in a given amount of time makes up a people counting system. This device is frequently used at building entrances to tally all visitors. Many different industries employ population counting systems. Systems for counting people can use infrared beams, thermal detection, video, and other technologies. A people counter is a device used to count the number of people entering or leaving a particular channel or entry. Infrared beams, thermal imaging systems, WiFi trackers, manual clickers, intelligent flooring, infrared beams, WiFi trackers, and video counters with cutting-edge machine learning algorithms are a few examples. They are frequently used by retail businesses to evaluate the effectiveness of marketing initiatives, building design, and subsequently, the appeal of particular products. People counting is the practise of counting the number of people who pass through a particular entrance or hallway using a device (traditionally called as a nation counter or footfall counter). The growing understanding of retail analytics for analysing consumer behaviour & preferences in the retail, hospitality, and entertainment industries is what is driving the growth of the people counting system market. A variety of counting techniques using hardware and software combinations, such as video-based systems and sensors, enable real-time traffic measurement, which is useful for the end-use sectors. Real-time traffic data may be used to improve security and personnel management operations, which is what is driving the market for people counting systems to grow.

 

Bidirectional segment holds the largest market share of over 63%.

Based on type, the global people counting system market is segmented into unidirectional, bidirectional. Due to the rising demand for queue monitoring, space utilisation, and staff productivity, the bidirectional sector is now ruling the market with a market share of over 63%. Bidirectional people counters can be used to count the number of customers entering a store from opening to closing. This is necessary in order to gather conversion rate information that may be relevant to certain events or times rather than just daily or weekly statistics. Additionally, end users can establish the appropriate client density in a certain area by monitoring changes in total visitor counts.

 

Hardware segment is dominating market with the market share of more than 63%.

On the basis of offering, the global people counting system market is segmented into hardware, software. Among these, the hardware segment holds the largest market share of over 63%.  Urbanization is accelerating because there are greater options and facilities available in the business, healthcare, and educational sectors. Many companies have made large investments and partnerships in the development of new technologies that can function in challenging circumstances without degrading the effectiveness of systems for counting the number of people.

 

Infrared beam segment accounts for the largest market share of 33.5%.

Based on technology, the global people counting system market is segmented into infrared beam, thermal imaging, video based technology, others. With a market share of 33.5%, the infrared beam category is dominating the market. A receiver and a transmitter are set side by side on a persons counter. They both produce an infrared beam that is invisible to the human eye but visible to unassisted vision. The counter activates and counts the people who interfered when the infrared beam is blocked. It has the advantage that it can be used as a stand-alone pedestrian counter in public areas without internet or electricity, like parks or walking trails. With the use of three infrared beams, it creates an invisible barrier and counts the people who cross it. These factors will produce profitable opportunities for the segment during the predicted period.

 

Ceiling segment is dominating the market with the growth rate of 39.5%.

On the basis of mounting platform, the global people counting system market is segmented into ceiling, wall, floor. Among these, the ceiling segment accounted the growth rate of 39.5%. The installation of people counting sensors on the platform for ceiling mounting is straightforward. Multiple sensors are put throughout the store ceiling for video-based overhead people counters, which are especially useful in large stores with a lot of foot traffic. They increase count accuracy by filtering out items like strollers and carts and making distinctions between adults, children, and assistance animals.

 

Retail, supermarkets, and shopping malls segment holds the largest market share of 20.5%.

Based on end use, the global people counting system market is segmented into retail, supermarkets, and shopping malls, transportation, hospitality, corporate, BFSI, healthcare, others. Among these, the retail, supermarkets, and shopping malls segment holds the largest market share of 20.5%. The segment is expected to keep dominating for the duration of the prediction. The segment's expansion can be attributed to the simple availability of several technological solutions, including 2D and 3D sensors, to increase profitability, enhance client happiness, and expedite procedures.

 

North America to register the fastest market growth over the forecast period.

 

People Counting System Market

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North America is dominating the market with the market share of 35.2%. The expansion is explained by the presence of technologically advanced stadiums, banks, theme parks, shops, and shopping centres. Additionally, there are several airports, which is increasing demand for visitor tracking and counting systems. Major businesses also blend organic and inorganic growth strategies to maintain and improve their market positions.

 

 

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