Press release
People Counting System Market Future Scope, Analysis, Size, Share, Trends, Growth Rate, Report 2024-2033
People Counting System Market
The people counting system market size is expected to see rapid growth in the next few years. It will grow to $3.6 billion in 2028 at a compound annual growth rate (CAGR) of 17.6%. The growth in the forecast period can be attributed to retail analytics evolution, rise in smart city initiatives, focus on health and safety, integration with iot and ai, demand in transportation. Major trends in the forecast period include privacy-conscious solutions, advanced sensor technology, integration with ai and machine learning, cloud-based analytic, occupancy management solutions.
Market Overview -
The people counting system is an electronic device that detects how many people are there in a closed space such as a store or office. This system is used by enterprises for getting the headcount at a given time.
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Rising Smart City Projects To Drive Market Growth
Increasing smart city projects around the globe are driving the people counting system market going forward. Smart cities refer to an administrative territory that uses information and communication technology (ICT) for improving its operational efficiency and providing better infrastructural facilities to its residents. Smart cities use people counting sensors to collect data about their citizens, and peak hours and use the data to improve their infrastructure and public services. For instance, in November 2021, the US Federal government announced Investment and Jobs Act in its annual bill in which it allocated $500 million for accelerating its smart city initiative and increasing the number of smart cities in the country. Additionally, the Indian government allocated $868 million for smart cities development in FY 2021-22 which was increased from $457 million in FY 2020-21. Therefore, the increasing number of smart city projects across the globe is driving the people counting system market.
Competitive Landscape -
Major companies operating in the people counting system market report are FLIR Systems Inc., Axis Communications AB, Iris-GmbH, HELLA GmbH & Co KGaA, Eurotech SpA, V-Count Inc., Traf-Sys Inc., RetailNext Inc., ShopperTrak Rct Corp, InfraRed Integrated Systems Ltd., SensMax Ltd., Axiomatic Technology Corporation, Xovis AG, Infodev Electronic Designers International Inc., Sensormatic Electronics Corporation, iris intelligent sensing NA Inc., Johnson Controls International plc, Koninklijke Philips NV, Brickstream Corporation, Countwise LLC, DILAX Intelcom GmbH, IEE SA, KLA Corporation, Mersive Technologies Inc., NEC Corporation, Omron Corporation, Panasonic Corporation, Point Grey Research Inc. .
Product Innovations Transforming The People Counting Systems Market
Major companies operating in the people counting systems market are developing new products such, as 3D ToF sensors, to sustain their position in the market. A 3D Time of Flight (ToF) sensor is a technology that measures the time it takes for a modulated near-infrared light to travel from the sensor to an object and back. For instance, in October 2022, Milesight, a China-based technology company launched the 3D ToF People Counting Sensor VS132. This sensor utilizes Time of Flight (ToF) technology, ensuring ultra-high accuracy (99.5%) and anonymous detection for counting people in entrances or corridors. It features LoRaWAN Wireless Deployment for convenient large-scale projects, and its compliance with GDPR ensures privacy protection. With flexible installation modes and easy configuration, the VS132 is suitable for various applications, including workplaces, retail stores, shopping malls, supermarkets, metros, and HVAC system management, enabling precise people flow analytics and management.
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Key Segments -
The people counting system market covered in this report is segmented -
1) By Offering: Hardware, Software
2) By Type: Unidirectional, Bidirectional
3) By Mounting Platform: Ceiling, Wall, Floor
4) By Technology: Infrared Beam, Thermal Imaging, Video-based Technology, Other Technologies
5) By End User: Retail, Supermarkets, and Shopping Malls, Transportation, Hospitality, Corporate, Banking, Financial Services and Insurance (BFSI), Healthcare, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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