Real-time People Counting System Market : Size, Share & Trend | Industry Analysis Report

 Past few decades have seen the use of range of sensors and software in real-time people counting system market. Such systems have been used popularly in counting people entering or leaving a space, such as rooms, buildings, or similar commercial spaces. These systems have gained a steady market due to the need for analyzing customer data in shopping centers, museums, restaurants, and retail chains. The real-time people counting system market has made strides on the back of continuous technological advances that have enabled counting with remarkably high precision. Plus, the data generated can be extracted into read-to-use metrics for marketing analysts. A prominent case in point is the prospective utility of such systems in estimating the footfalls in an e-commerce facility.

Over the years, efforts to harness artificial intelligence (AI) technologies have shaped the course of new product development strategies of technology companies in the real-time people counting system market. Many players have also been attracting business marketers with plug and play functionality. Such technologies when integrated with state-of-the-art sensors make the system more accurate and churn out helpful results. Dynamically changing shopping taste and preferences have raised the ante for retail players to boost their conversion rate continuously. The trend is bolstering the prospects of the market.

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Real-time people flow data is beneficial for security purposes and management of people such as tourist flow estimation and pedestrian traffic management. It is necessary to obtain precise information about visitors at specific places such as market places, shopping malls, and departmental stores at any given time. Many of such measurements are still carried out manually. Therefore, it is essential to improve the automatic method of counting the people in real time.

People counting system provides data that allows end-users to explore potential revenue opportunities. Counting and reporting the number of people entering and exiting a particular area helps create ways to identify opportunities for improvement. In crowded environments like shopping malls airports and railway stations, real time people counting system can alert operators to potentially risky situations without having to dedicate manpower for monitoring. Real-time people counting system provides data that is useful for various purposes including accurate outdoor and indoor analysis to reduce false alarms and statistical analysis of traffic.

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Development of intelligent transportation solution (ITS) and acceptance of advanced solutions are creating lucrative business opportunities for providers of real-time people counting systems. Different types of people counting technologies are available in the market. These can be broadly classified into two categories: static and on-board systems. On-board systems are embedded in vehicles, while static systems are installed at stations. Technically, on-board systems consist of sensors and on-board computers that convert and store the information registered by sensors into passenger counts. Infra-red (IR) sensing is a common technique for counting in these systems. Other techniques used are cameras, pressure-sensitive mats, and horizontal beams.

The real-time people counting system market is driven by various factors such as availability of low-cost and easy to set up solutions, growth in the retail sector, rise in demand for people counting systems in the transportation sector, and increase in adoption rate of people counting technologies. However, location inaccuracy and privacy concerns in Wi-Fi and Bluetooth based systems are expected to hamper the real-time people counting system market during the forecast period. Furthermore, booming e-commerce industry and increase in online sales channels are key factors adversely affecting the real-time people counting system market.

The global real-time people counting system market can be segmented based on component, technology, and vertical. In terms of component, the real-time people counting system market can be bifurcated into two major categories: hardware (thermal cameras, infrared, fixed camera, fixed dome camera and pan, tilt & zoom (PTZ)); and software. Based on technology, the real-time people counting system market can be fragmented into infrared beam, thermal imaging, video based, and other technologies. In terms of vertical, the real-time people counting system market can be segregated into BFSI, telecom & IT, media & entertainment, transportation, retail & e-commerce, utilities, health care, government, and education.

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The global real-time people counting system market can also be classified in terms of region into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is anticipated to account for major share of the market during the forecast period. This can be ascribed to the increase in adoption of intelligent transportation systems and presence of many of the world’s busiest airports in the region. Major companies such as ShopperTrak, RetailNext, and Axis Communications launch their products in North America. Asia Pacific is expected to be a rapidly growing region of the real-time people counting system market owing to the increase in number of supermarkets, retail stores, and shopping malls.

Major players active in the real-time people counting system market include Axiomatic Technology Limited, Axis Communication AB, Countwise LLC, Dilax Intelcom GmbH, Eurotech S.P.A., Hella Aglaia Mobile Vision GmbH, IEE S.A., IRIS-GmbH, Infrared Integrated Systems Ltd. (IRISys), Retailnext, Inc., V-Count, and Xovis AG.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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