Press release
People Counting System Industry Outlook 2025-2029: Market Set to Cross $3.83 Billion Milestone
People Counting System Market
How Large Will the People Counting System Market Size By 2025?
The market size of the people counting system has seen rapid expansion in recent years. It's projected to increase from $1.83 billion in 2024 to $2.12 billion in 2025, indicating a compound annual growth rate (CAGR) of 15.7%. The historic growth is due to multiple factors such as the need for retail analytics, public safety and security requirements, the emergence of smart building technology, traffic and transportation management, and utilization in healthcare facilities.
How Big Is the People Counting System Market Size Expected to Grow by 2029?
The market size of the people counting system is projected to experience substantial expansion in the coming years, reaching a value of $3.83 billion in 2029 with a compound annual growth rate (CAGR) of 15.9%. The forecasted period growth is primarily due to the evolution of retail analytics, increased smart city projects, emphasis on health and safety, IoT and AI integration, as well as demand in transportation. Key trends for this projected period involve solutions that respect privacy, enhanced sensor technology, AI and machine learning integration, analytics based on cloud, and solutions for occupancy management.
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Which Key Market Drivers Powering People Counting System Market Expansion and Growth?
The rise in global smart city initiatives is propelling the advancement of the people counting system market. Smart cities denote an administrative region that utilizes information and communication technology (ICT) to enhance its operational effectiveness and offer superior infrastructural amenities to its inhabitants. These cities employ people counting sensors to gather data about their population and peak times, and utilize this information to optimize their infrastructure and public services. As an example, a report from the Organization for Economic Co-operation and Development released in October 2023 stated that in 2021, it was 300 billion, but is projected to exceed USD 650 billion by 2026. Specifically, in the United States, an investment of USD 41 trillion is predicted over the upcoming two decades for the improvement and incorporation of digital technologies in cities. Hence, the escalating prevalence of smart city initiatives worldwide is stimulating the growth of the people counting system market.
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Which Fast-Growing Trends Are Poised to Disrupt the People Counting System Market?
Leading firms in the people counting systems market are innovating with products like 3D ToF sensors to maintain their market dominance. A 3D Time of Flight sensor is an advanced technology that calculates the time taken for modulated near-infrared light to travel to an object from the sensor and return. For example, in October 2022, Milesight, a tech company from China, introduced the 3D ToF People Counting Sensor VS132. This sensor uses Time of Flight technology to provide exceptionally accurate (99.5%) and anonymous detection for people counting in areas such as entrances or corridors. The VS132 features LoRaWAN Wireless Deployment for easily handling large-scale projects, and its adherence to GDPR ensures data privacy. Its flexible modes of installation and simple configuration make the VS132 apt for a variety of applications, such as workplaces, retail stores, malls, supermarkets, metro stations, and HVAC system management, thus enabling precise analysis and management of people's movements.
What Are the Emerging Segments in the People Counting System Market?
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, Super markets, And Shopping Malls, Transportation, Hospitality, Corporate, Banking, Financial Services And Insurance (BFSI), Healthcare, Other End Users
Subsegments:
1) By Hardware: Infrared Sensors, Video-Based Sensors, Laser-Based Sensors, Wi-Fi Or Bluetooth-Based Sensors
2) By Software: Data Analytics Software, Integration Software, Cloud-Based Software Solutions
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Who Are the Global Leaders in the People Counting System Market?
Major companies operating in the people counting system market include FLIR Systems Inc., Axis Communications AB, Iris-GmbH, Eurotech SpA, V-Count Inc., Traf-Sys Inc., RetailNext Inc., ShopperTrak Rct Corp, InfraRed Integrated Systems Ltd., SensMax Ltd., Xovis AG, Infodev Electronic Designers International Inc., Sensormatic Electronics Corporation, iris intelligent sensing NA Inc., Johnson Controls International plc, Brickstream Corporation, Countwise LLC, DILAX Intelcom GmbH, IEE SA, NEC Corporation, Omron Corporation, Panasonic Corporation
Which are the Top Profitable Regional Markets for the People Counting System Industry?
North America was the largest region in the people counting system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the people counting system market report during the forecast period. The regions covered in the people counting system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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