Press release
Comprehensive People Counting System Market Forecast 2025-2034: Growth Trends and Strategic Shifts
People Counting System
People Counting System Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of the people counting system has seen a swift expansion in the past few years. This market will escalate from $1.83 billion in 2024 to $2.12 billion in 2025, observing a compound annual growth rate (CAGR) of 15.3%. The growth observed in the historical period can be credited to the increasing demand for retail analytics, the need for public safety and security, the development of smart buildings, improvements in transportation and traffic management, and utilization of healthcare facilities.
People Counting System Market Size Forecast: What's the Projected Valuation by 2029?
The market size of the people counting system is projected to experience swift expansion in the coming years, reaching a value of $3.8 billion by 2029 with a compound annual growth rate (CAGR) of 15.7%. Factors contributing to this growth in the forecast period include the evolution of retail analytics, increase in smart city initiatives, emphasis on health and safety, integration with the Internet of Things (IoT) and Artificial Intelligence (AI), and demand in the transportation sector. Key market trends during the forecast period encompass solutions that respect privacy, the use of advanced sensor technology, integration with AI and machine learning, cloud-based analysis, and approaches to managing occupancy.
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What Are the Drivers Transforming the People Counting System Market?
The global surge in smart city projects is bolstering the people counting system market. A smart city, which is an administrative domain that leverages information and communication technology (ICT) to enhance its operational effectiveness and offer superior infrastructure services to its citizens, implements people counting sensors to amass data about its inhabitants and peak hours. This data is then employed to upgrade infrastructure and public facilities. As an example, a report released by the Organization for Economic Co-operation and Development in October 2023 recorded a rise from 300 billion in 2021 to over USD 650 billion by 2026. Specifically, in the US, digital technology upgrades are projected to invite an investment of USD 41 trillion over the impending two decades. Consequently, the escalating count of smart city projects worldwide is fueling the expansion of the people counting system market.
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What Long-Term Trends Will Define the Future of the People Counting System Market?
In an effort to maintain their place in the people counting systems market, large corporations are focusing on the creation of novel products such as 3D Time of Flight (ToF) sensors. This innovative technology calculates the time required for near-infrared light to move to and from an object from the sensor. Milesight, a tech company based in China, unveiled a product exemplifying this technology, the 3D ToF People Counting Sensor VS132, in October 2022. This sensor employs ToF technology to ensure excellent accuracy (99.5%) and anonymous people counting in entryways or hallways. It includes features such as LoRaWAN wireless deployment for large-scale initiatives, and is GDPR compliant for privacy protection. Moreover, the VS132 offers flexible installation options and simple configuration, making it fit for a range of uses, including workplaces, retail shops, shopping centers, metro stations, supermarkets, and HVAC system management. It provides accurate people flow analytics and management.
Which Segments in the People Counting System Market Offer the Most Profit Potential?
The people counting systemmarket 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
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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Which Firms Dominate the People Counting System Market by Market Share and Revenue in 2025?
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 Regions Offer the Highest Growth Potential in the People Counting System Market?
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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