At 18+% CAGR, People Counting System Market Potentially Worth $1,637.4 Million by 2022 Dominated by Video-Based Technology

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At 18+% CAGR, People Counting System Market Potentially Worth $1,637.4 Million by 2022 Dominated by Video-Based Technology

The people counting system market is forecast to reach $1,637.4 million by 2022 from $491.7 million in 2015 at a CAGR of 18.9% during (2016-2022) driven by the growing retail sector & increased adoption rate of people counting technologies, availability of economical & easy set up solutions and growing need for people counting solutions in the transportation sector.

PR Newswire

PUNE, India, Jan. 19, 2017 /PRNewswire-iReach/ -- The video-based people counters expected to witness a high growth rate in the people counting system market during the forecast period. Video-based technology offers the best way of ensuring accurate footfall and queue counting in locations such as retail stores, train stations, or airports where there are dense crowds and slow-moving traffic. It can differentiate between people and objects to count with high accuracy. This technology is ideal for small to large retailers and malls operators who require the highest accuracy, reliability, and count validation. Complete report on "People Counting System Market" spread across 139 pages, profiling 14 companies and supported with 38 tables and 58 figures is now available at http://www.rnrmarketresearch.com/people-counting-system-market-by-technology-ir-beam-video-based-thermal-imaging-application-retail-transportation-banking-finance-hospitality-sports-entertainment-government-and-geography-global-f-st-to-2022-market-report.html .

North America is the leading region in the people counting system market. Retail stores, supermarkets, and shopping malls are the leading application areas in the North American people counting system market. The increasing number of retail stores is one of the major driving factors for the growth of the market in North America.

APAC to witness the highest growth rate in the people counting system market during the forecast period. The market in Asia-Pacific includes countries such as China, Japan, India, Australia, Singapore, Malaysia, Thailand, and so on. Healthy economic growth, changing demographic profile, increasing disposable incomes, growing urbanization and changing consumer tastes and preferences are some of the driving factors for the growth of the retail stores, resulting in increased demand for people counter systems.

The people counting system market expected to grow at significant rate between 2016 and 2022. The booming e-commerce industry and the increasing online sales channels restrain the growth of the market. There are a large number of airports in APAC (for instance, China has 502 airports) as well as a number of train and bus stations. Moreover, many of the world's busiest train stations and airports are situated in APAC. To manage the large people traffic, there is a demand for people counting system solutions in the transportation sector. The booming hospitality industry and the increasing number of smart building projects further drive the market in APAC for people counting systems.

This research study is obliging for following audience:

  1. Raw material vendors
  2. Component providers
  3. Product and accessories manufacturers
  4. Software providers
  5. Distributors
  6. End-user segments such as retailers, super markets, shopping malls, transportation, corporates, banking and financial institutions, hospitality, sports and entertainment, and others.
  7. Research organizations

The major players in the people counting system market include Retail Next, Inc. (U.S.), ShopperTrak (U.S.), Axis Communication AB (Sweden), HELLA Aglaia Mobile Vision GmbH (Germany), InfraRed Integrated Systems Ltd. (U.K.), Point Grey Research, Inc. (Canada), IEE S.A. (Luxembourg), IRIS-GmbH (Germany), Eurotech S.p.A. (Italy), Axiomatic Technology Limited (U.K.), Countwise LLC (U.S.), DILAX Intelcom GmbH (Germany), V-Count (Turkey), and Xovis AG (Switzerland).Make an Inquiry on "People Counting System Market by Technology (IR Beam, Video Based, Thermal Imaging), Application (Retail, Transportation, Banking & Finance, Hospitality, Sports & Entertainment, Government), and Geography - Global Forecast to 2022" research report at http://www.rnrmarketresearch.com/contacts/inquire-before-buying?rname=825394 .

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (35%), Tier 2 (46%) and Tier 3 (19%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (45%), Manager Level (35%) and others (20%) from various key organizations operating in the people counting system market. The primary interviews were conducted worldwide covering regions such as North America (29%), Europe (43%), APAC (21%) and RoW (7%).

Research Coverage: The report defines, describes, and forecasts the people counting system market segmented on the basis of technology, application and geography. It provides detailed information regarding the major factors influencing the growth of the people counting system market (drivers, restraints, opportunities, and industry-specific challenges). It also analyzes the competitive developments such as joint ventures, collaborations, agreements, contracts, partnerships, mergers and acquisitions, new product launches and developments, and R&D in the people counting system market.

On a related note, another research titled Video Analytics Market Global Forecast to 2021 says, the video analytics market size is estimated to grow from USD 1.69 billion in 2016 to USD 4.23 billion by 2021, at a CAGR of 20.2% from 2016 to 2021. The counting and crowd management application is expected to gain the maximum traction during the forecast period. Asia Pacific (APAC) is expected to grow at the highest rate during the forecast period. Companies such as Avigilon Corporation (Vancouver, Canada), Axis Communication (Lund, Sweden), Cisco Systems (San Jose, California, U.S.), Honeywell International, Inc. (New Jersey, U.S.), IBM Corporation (Armonk, New York, U.S.), Agent Video Intelligence (New York, U.S.), Aventura Technologies, Inc. (New York, U.S.), Genetec, Inc. (Montreal, Canada), ObjectVideo (Reston, Virginia, U.S.) and IntuVision, Inc. (Massachusetts, U.S.) have been profiled in this 132 pages research report available at http://www.rnrmarketresearch.com/video-analytics-market-by-type-hardware-video-analytics-software-and-services-applications-intrusion-management-crowd-management-situation-indication-license-plate-recognition-pattern-recognition-global-forecast-to-2020-market-report.html .

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