Overview and Scope
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.
Sizing and Forecast
The people counting system market size has grown rapidly in recent years. It will grow from $1.59 billion in 2023 to $1.88 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to retail analytics demand, public safety and security needs, evolution of smart buildings, transportation and traffic management, healthcare facility utilization..
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.
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Segmentation & Regional Insights
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
North America was the largest region in the people counting system market in 2023. 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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Major Driver Impacting 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.
Key Industry Players
Major companies operating in the people counting system market are developing new counting systems using detection beams to secure a competitive lead in the market. Detection beam refers to a concentrated and directional stream of energy, often in the form of infrared light or other sensor technologies, used to identify the presence or movement of objects or individuals within its path. For instance, in August 2022, Haltian Ltd., a Finland-based IoT solutions company, launched Thingsee COUNT, a directional and non-camera-based IoT people counter designed for smart building and office applications. This wireless and anonymous real-time people counting solution addresses the need for optimizing office space usage by providing valuable insights into space utilization and people traffic. With real-time data, companies can identify popular spaces, monitor occupancy, determine peak hours, analyze footfall, assess the impact of layout changes, and prevent overcrowding in specific areas. The GDPR-compliant technology, based on a detection beam, ensures privacy protection while offering reliability and cost-effectiveness. Thingsee COUNT can be seamlessly integrated with analytics or dashboard applications for comprehensive smart office solutions.
The people counting system market report table of contents includes:
1. Executive Summary
2. People Counting System Market Characteristics
3. People Counting System Market Trends And Strategies
4. People Counting System Market – Macro Economic Scenario
5. Global People Counting System Market Size and Growth
…..
31. Global People Counting System Market Competitive Benchmarking
32. Global People Counting System Market Competitive Dashboard
33. Key Mergers And Acquisitions In The People Counting System Market
34. People Counting System Market Future Outlook and Potential Analysis
35. Appendix
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