The Asia Pacific People Counting System Market would witness market growth of 12.5% CAGR during the forecast period (2021-2027).
People counting system comprises of individuals counter devices that can gauge the number and direction of people passing through any passage or entrance per unit of the time. This system is extensively deployed in the entrances of buildings in order to calculate the number of tourists. People counting systems also find application in various other industrial fields. Moreover, various other technologies such as thermal sensing, infrared beams, and video are also integrated with people counting systems.
Factors such as the huge adoption of people counting technologies in the retail industry and increasing demand for people counting systems in the transportation industry are responsible for the growth & demand for these solutions in the global market. Moreover, the growth of the people counting system would witness bright prospects due to the constant developments in people counting systems like the availability of 3D people counting.
As the region is witnessing a large number of retail stores, shopping malls, and supermarkets, the demand & adoption of people counting systems in the regional market have been increased in the last couple of years. In addition, the regional people counting system market would also be boosted by the supportive government initiatives for foreign retailers, particularly in India. Additionally, the major catalyst for the installation of people counting system in the regional market includes the existence of infrastructures like airports, bus stations, and train stations along with new & emerging projects.
Moreover, the constantly booming hospitality sector is helping the regional people counting system market to expand. The regional market would witness bright growth prospects due to the increase in urbanization, changing spending patterns, and increase in the population of the middle-class. Considering this scenario, many key players of the market are willing to put heavy investments in the regional market. Therefore, these factors are set to fuel the growth of the people counting system market during the forecast period.
The China market dominated the Asia Pacific Unidirectional People Counting System Market by Country 2020, thereby, achieving a market value of $50.8 million by 2027. The Japan market is showcasing a CAGR of 10.7% during (2021 - 2027). Additionally, The India market is anticipated to witness a CAGR of 11.9% during (2021 - 2027).
Based on Component, the market is segmented into Hardware and Software. Based on Type, the market is segmented into Bidirectional and Unidirectional. Based on Technology, the market is segmented into Thermal Imaging, Infrared Beam, Video-based Technology and Others. Based on End User, the market is segmented into Retail Stores, Supermarkets, & Shopping Malls, Transportation, Healthcare & Pharmaceuticals, Corporate, Sports, BFSI, Hospitality, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide People Counting System Market is Projected to reach USD 1.7 Billion by 2027, at a CAGR of 10.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Vivotek, Inc., Eurotech Group PLC, HELLA GmbH & Co. KGaA, V-Count, Inc., FootfallCam, Traf-Sys, Inc., IEE S.A. (Aerospace Hi-tech), Infodev Electronic Designers International, Inc., Sensormatic Electronics Corporation (Johnson Controls), and RetailNext Inc.
By Component
By Type
By Technology
By End User
By Country
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