Market Synopsis:
The people counting system market 2020 is supposed to gain popularity. Rising awareness about the product is expected to boost demand in the coming years. A report presented by Market Research Future (MRFR) underscores that the global people counting system market is anticipated to mark 18.2% CAGR over the review period 2018 to 2026. Increasing awareness about the accuracy of these people counter systems is anticipated drive the growth of the People Counting System Market in the upcoming years. Manufactures are leveraging new technologies to enhance the efficiency of their product lines, which is supposed to support the growth curve of the market.
Increasing applications across different industry domains are prognosticated to lead the expansion of the people counting system market. The product is being installed in buildings to count the number of visitors. Rising use of the system in industries such as retail, sports & entertainment, etc. is expected to boost revenue growth of the people counting system market in the foreseeable future. Rising demand for efficient crowd management is likely to have a favorable impact on the people counting system market in the forthcoming years. The demand is assessed to be amplified in the near future, leading to a robust growth of the people counting system market.
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Key Players
The prominent players in the global People Counting System Market are Iris GmbH, ShopperTrak, Retail Next, Inc., Axis Communication AB, FLIR Systems, HELLA Aglaia Mobile Vision GmbH, Infrared Integrated Systems Ltd, IEE S.A., Eurotech SpA and Traf-sys, Inc. among others.
Market Segmentation:
- On the basis of type, people counting system market has been segmented into unidirectional and bidirectional. Among these, the unidirectional segment is assessed to attain a value of USD 600 Mn approximately by the end of the prognosis period. It is presumed to expand at a higher rate in the coming years.
- On the basis of connectivity, the people counting system market has been segmented into wired and wireless. The wireless segment is expected to witness higher demand due to incr4easing awareness about the benefits of wireless technology. It is also likely to gain more popularity owing to the convenience offered. The segment is expected to mark 14% CAGR during the evaluation period.
- On the basis of product, people counting system market has been segmented into horizontal beam counting system and overhead people counting system.
- On the basis of application, the people counting system market has been segmented into transportation, retail, sports & entertainment, government, banking & finance, and hospitality. Among these, the transportation segment is anticipated to exercise dominance over the next couple of years. It is poised to earn revenues worth USD 300 Mn approximately during the forecast period.
- On the basis of position, the people counting system market has been divided into overhead beam and horizontal beam.
Regional Analysis:
The geographical evaluation of the global people counting system market has been included in this report for the following regions – North America, Asia-Pacific, Europe, and the Rest of the World (RoW). These regional segments are assessed on a country-level basis for a detailed analysis of the market. North America, owing to increasing adoption of IoT technology, is anticipated to secure the forefront position. The consolidation of key players of the people counting system market in the region is also likely to benefit revenue growth. APAC is an important market and is likely to thrive on account of its strong economic development. Rising installations across industries are likely to be witnessed in the region.
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Intended Audience
- Investors and consultants
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Technology solution providers
- Hardware manufacturers
- Entertainment Sector
- Sports Organization
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