Press release
People Counting System Market Size and Global Leaders Overview: RetailNext, Infrared Integrated Systems, FLIR Systems, Siemens AG, Eurotech SpA, HELLA GmbH & Co. KGaA
Market Highlights
The global people counting system market is spanned across North America, Europe, Asia Pacific, and Rest of the world. North America is expected to be the largest markets owing to the early adoption of people counting system in public transportation, entertainment, hospitality sector. North America is categorized into three regions—the US, Canada, and Mexico. During the forecast period, the US is expected to be the leading region, growing at a CAGR of 18.1%, followed by Canada with 16.4% and Mexico with 13.9%. The growth in this region is driven by large presence of major retail outlets such as Costco, Walmart, Kroger, the home depot and Target among others. Moreover, strong service culture and growth in high end infrastructure.
On the other hand, Asia-Pacific region is expected to foresee the fastest growth of people counting system owing to growing retail outlets and increasing establishment of shopping malls in the region is driving the market as people counting system are increasingly being adopted to analyze the number of visitors. Also, the increasing population increasing urbanization, growing economy has led to the increased need for solutions like people counting system which is expected to boost the market growth.
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The global people counting system market is expected to reach USD 2,278 million at a CAGR of over 18.2% by the end of the forecast period 2018–2026.
Key Players
Some of the Prominent Players in the global People Counting System Market are Traf-Sys Inc (US), RetailNext, Inc (US), ShopperTrak RCT Corporation (US), Infrared Integrated Systems Ltd (UK), Axis Communications AB (Sweden), FLIR Systems, Inc (US), Siemens AG (Germany), Eurotech SpA (Italy), iris-GmbH infrared & intelligent sensors (Germany), HELLA GmbH & Co. KGaA (Germany), V-Count (US).
Global People Counting System Market Segmentation
The global people counting system market is bifurcated on the basis of type, connectivity, product, application, and region. The type is segmented into bidirectional and unidirectional. The connectivity is segmented into wireless and wired. The product is segmented into horizontal beam counting system and overhead people counting system. The application is segmented into retail, transportation, sports & entertainment, banking & finance, government, hospitality, and others. The region includes North America, Europe, Asia Pacific, and rest of the world.
Market Research Analysis:
Regional analysis for global people counting system market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of world. The study reveals that North America region would evolve as a leader in global people counting system market. The presence of large number of retail outlets in the country especially U.S. and Canada is driving high growth in the North America region. However, growing e-commerce industry and increasing market penetration of cloud technology is expected to hamper the people counting system market growth in coming future. Asia-Pacific is expected to witness high growth in the forecast period and projected to grow with approximately 16% CAGR during the forecast period.
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Key questions addressed by the report
What was the historic market size (2018)?
Which segmentation (Type / Connectivity / Product / Application) is driving market?
What will be the growth rate by 2026?
How are the key players in this market?
What are the strategies adopted by key players?
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