In a recently published report, People Counting System report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for People Counting System products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global People Counting System Market is valued approximately USD 741.6 million in 2019 and is anticipated to grow with a healthy growth rate of more than 10.3 % over the forecast period 2020-2027. People counting system measures the number and direction of people traversing any entrance or a passage per unit time. It consists of people counter device that is widely used in the entrances of buildings to record the total number of visitors. People counting systems is associated with various technologies such as infrared beams, thermal sensing, video and others. The companies offering people counting systems with Wi-Fi, Bluetooth, and pressure mat-based technologies have been impacted the most due to COVID-19, as they are not capable of helping end-users to maintain social distancing. However, end-users such as retailers, shopping malls, supermarkets, and others are adopting people counting systems to track and count visitors with thermal and video-based technologies. This allows end-users to get real-time data about the number of visitors, helping them to maintain the safety of customers and employees.
Thus, the COVID-19 pandemic has opportunities as well as challenges for the market players. The ongoing technological advancements in retail industry, growing need for people counting systems in hospitality, sports and entertainment applications and surging demand for people counting systems to ensure safety of people in public places and retail stores during COVID-19 are the few factors responsible for growth of the market over the forecast period. Furthermore, the rising advancements and other strategic alliance by market key players will create a lucrative demand for this market.
For instance: on 09th September 2019, HELLA Aglaia Mobile Vision GmbH launched an updated version 1.9.0, HELLA Aglais’s public transport customer benefit for APS-B and APS-R (PoE). This will provide more precise entry and exit tracking as well as an optimized camera calibration. However, rapid increase in E-commerce industry is the major factor restraining the growth of global People Counting System market during the forecast period.
The regional analysis of global People Counting System market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world owing to the presence of technologically advanced retail stores and shopping malls, stadiums, banks, and theme parks. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
HELLA Aglaia Mobile Vision GmbH
Infrared Integrated Solutions (IRISYS)
RetailNext
ShopperTrak
V-Count
Eurotech
Axiomatic Technology
CountWise
Dilax Intelcom GmbH
IEE S.A.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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By Type:
Unidirectional
Bidirectional
By Technology:
Infrared Beam
Thermal Imaging
Video-Based
Others
By Offering:
Software
Hardware
By End-Use:
Retail, Supermarkets and Shopping Malls
Transportation
Corporate
Hospitality
Banking and Financial Institutes
Healthcare
Sports and Entertainment
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global People Counting System Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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