The Global People Counting System Market size is expected to reach $1.7 billion by 2027, rising at a market growth of 10.5% CAGR during the forecast period. People counter refers to electronic equipment that is deployed to calculate the footfall i.e., number of people going through a particular way or an entrance. It is utilized in several applications for footfall analysis and queue management like supermarkets, retailers, brick & mortar stores, and transport hubs. Several types of people counters are available in the market based on the budget and requirements of the stores such as thermal imaging systems, WIFI trackers, Infrared beams, Simple manual clickers, and video counters. Currently, many new technologies such as thermal sensing, infrared beams, video, and among others, are integrated into people counting systems.
The surging awareness about retail analytics in order to understand customer behavior and preferences in the hospitality, retail, and entertainment sectors is expected to open new growth avenues for the global people counting system market. Additionally, retailers are compelled to deploy sophisticated people counters due to the developing retail industry and increased acceptance of digitized technologies.
Moreover, the higher adoption of automated systems across various industries is helping people counting systems to achieve high popularity in transportation & retail applications. A number of market vendors are launching 2D and 3D video-integrated counting systems that are capable of offering precise traffic measurement results because of the installation of cameras and stereo vision cameras. Therefore, these factors are likely to augment the growth of the people counting system market during the forecast period.
Governments around the world have imposed stringent lockdown restrictions including stay-at-home orders that prohibited individuals to go out in public. As there was no or lesser number of people going through any passage or entrance, the demand for people counting systems was reduced dramatically. The global people counting system market had witnessed an adverse impact due to the outbreak of the COVID-19 pandemic, hence declined the demand & adoption of people counting systems across the world.
Due to this, a decline was observed in the development of the global people counting market throughout the first half of 2020. This trend remained the same till the first quarter of 2021. Moreover, the demand & deployment of people counting systems would boost again due to the rising production and the increased demand for occupancy monitoring, identification of customer behavior analytics, and visitor footfall count in store during the second or third quarter of 2021.
Various end-user verticals like hospitality, retail, healthcare, and transportation have been significantly deploying 2D and 3D people counting systems. 2D people counting systems refer to the video-based monocular single-lens device that is appropriate for low-traffic and highly lit environments. In addition, these people counting systems display as high as 95% accuracy.
It becomes possible to save the energy-consumption by understanding the occupancy levels and traffic patterns of every space. Building owners may want to lower down the temperature in a place when capacity is full to enhance the comfort of the occupant. For this purpose, the people counting system plays a vital role in counting the number of people inside the premises. In addition, these systems can also utilize this data to maximize when spaces are not being occupied; assisting in decreasing energy costs and enhances sustainability.
Factors such as the advent of several online shopping portals and the thriving e-commerce industry are expected to hinder the growth of the global people counting system market. As per the United Nations Conference on Trade and Development (UNCTAD), the leading 13 worldwide B2C e-commerce companies’ sales were approximately USD 2.9 trillion in 2020. The B2C e-commerce sales involve the transaction between end-users and online retailers only.
Based on Component, the market is segmented into Hardware and Software. Organizations have been putting heavy investments in the development of advanced technologies that are capable of operating in various settings without affecting the effectiveness of people counting systems.
Based on Type, the market is segmented into Bidirectional and Unidirectional. This system has achieved high popularity in every industry; though, retail & commercial spaces are likely to significantly deploy people counting systems. Moreover, the deployment of people counting systems has been boosted by the surge in the number of shopping malls, supermarkets, and retail stores across the world.
Based on Technology, the market is segmented into Thermal Imaging, Infrared Beam, Video-based Technology and Others. The video-based people counter segment would display a promising growth rate during the forecast period. Factor such as the increased demand for accuracy as this technology can offer a highly accurate count of visitors in comparison to other traditional technologies. These systems show up to 96% accuracy in both directions; they can be connected with advanced analytical systems that can assist the end-users with in-store analytics, queue management, dwell time measurement, and among others.
Based on End User, the market is segmented into Retail Stores, Supermarkets, & Shopping Malls, Transportation, Healthcare & Pharmaceuticals, Corporate, Sports, BFSI, Hospitality, and Others. Retailers can accrue various advantages from people counting systems by acquiring key performance indicators (KPIs) that show their present business outlook. Moreover, the leading players of the market are constantly upgrading their product offerings and closing deals by coming into agreements with several retail stores, supermarkets, and shopping malls to enhance customer retention by deploying people counting systems.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 815.1 Million |
| Market size forecast in 2027 | USD 1.7 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 10.5% from 2021 to 2027 |
| Number of Pages | 293 |
| Number of Tables | 485 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Type, Technology, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
|
| Restraints |
|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America emerged as the dominating region in the people counting system market in 2020. The region is likely to showcase similar kind of position even during the forecasting period. The presence of technically sophisticated retail stores and shopping malls, amusement parks, stadiums, and banks are responsible for the growth of the regional market. In addition, the growth of the regional market would witness bright prospects due to the existence of a large number of airports that need visitor counting and monitoring solutions.
Free Valuable Insights: Global People Counting System Market size to reach USD 1.7 Billion by 2027
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 Geography
The people counting system market size is projected to reach USD 1.7 billion by 2027.
The market growth is set to boost due to the increasing combination of 4D technology with video-based people counters are driving the market in coming years, however, the market is expected to hamper due to the thriving e-commerce sector have limited the growth of the market.
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.
Yes, the demand & deployment of people counting systems would boost again due to the rising production and the increased demand for occupancy monitoring, identification of customer behavior analytics, and visitor footfall count in store during the second or third quarter of 2021.
The retail segment obtained the maximum revenue share of the people counting systems market in 2020 and would display a similar kind of trend even during the forecast period.
The North America market dominated the Global People Counting System Market by Region 2020, and would continue to be a dominant market till 2027.
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 