People Counting System Market Analysis

People Counting System Market Analysis

The U.S. video-based technology is predicted to observe a 20% growth rate till 2028 due to the strong technology landscape in the region. Video-based people counting systems deliver high accuracy with precise people counting abilities. The system can be seamlessly integrated with comprehensive analytics solutions & advanced technologies, such as AI & machine learning, that support facility managers with dwell time measurement, in-store analytics, and queue management. The advancements in technology will encourage end-users to install the system to reduce operational costs, thus surging the market expansion of people counting systems.
 

The global hardware segment dominated more than 65% of the revenue share in 2021 credited to the increasing migration of individuals from rural locations to metropolitan cities. The availability of better opportunities & facilities across the education, corporate, and healthcare sectors is augmenting urbanization across the world. The growing deployment of the systems will accelerate the demand for hardware components such as PTZ cameras, infrared beams, and fixed dome cameras.
 

China people counting system market is estimated to attain a CAGR of over 25% through 2028, which is attributed to the growing retail industry that is adopting advanced technologies to ensure robust business growth. For instance, in September 2021, SPAR China opened a hypermarket in the Shandong province. The store has an area of over 10,000 sq meters, offering fresh produce and premium seafood. Similarly, in June 2021, Alibaba Group introduced two new members-only stores named Store X in China. The increasing number of new hypermarkets/supermarkets will spur people counting system requirements for analyzing daily customer footfall in stores and streamline the operational activities based on the insights.
 

Europe people counting system market accounted for around 30% of the revenue share in 2021 impelled by the increasing focus of government officials on developing the existing transportation infrastructure. The developing transportation sector will fuel the deployment of people counting system for better resource allocation, reducing operational costs, and improving the passenger travel experience. Video management software integrated with sensors enables the counting of the number of people entering or exiting trains or buses. People counting systems with real-time displays keep people informed about the passenger traffic scenarios.