This report describes and explains the people counting system market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global people counting system market reached a value of nearly $1.58 billion in 2023, having grown at a compound annual growth rate (CAGR) of 9.83% since 2018. The market is expected to grow from $1.58 billion in 2023 to $3.31 billion in 2028 at a rate of 15.86%. The market is then expected to grow at a CAGR of 14.80% from 2028 and reach $6.61 billion in 2033.
Growth in the historic period resulted from the increasing urbanization, expanding healthcare sector, rising smart city projects, increasing focus on security and safety and growth in public infrastructure projects. Factors that negatively affected growth in the historic period include a lack of accuracy.
Going forward, the increasing demand in transportation hubs, rise in retail automation, rising popularity of real-time data analytics and growth of e-commerce will drive the market. Factors that could hinder the growth of the people counting system market in the future include data privacy concerns.
The people counting system market is segmented by offering into hardware and software. The hardware market was the largest segment of the people counting system market segmented by offering, accounting for 64.4% or $1.02 billion of the total in 2023. Going forward, the software segment is expected to be the fastest growing segment in the people counting system market segmented by offering, at a CAGR of 16.56% during 2023-2028.
The people counting system market is segmented by type into unidirectional and bidirectional. The bidirectional market was the largest segment of the people counting system market segmented by type, accounting for 61.2% or $972.68 million of the total in 2023. Going forward, the bidirectional segment is expected to be the fastest growing segment in the people counting system market segmented by type, at a CAGR of 17.28% during 2023-2028.
The people counting system market is segmented by mounting platform into ceiling, wall and floor. The ceiling market was the largest segment of the people counting system market segmented by mounting platform, accounting for 54.2% or $861.63 million of the total in 2023. Going forward, the ceiling segment is expected to be the fastest growing segment in the people counting system market segmented by mounting platform, at a CAGR of 17.39% during 2023-2028.
The people counting system market is segmented by technology into infrared beam, thermal imaging, video-based technology and other technologies. The infrared beam market was the largest segment of the people counting system market segmented by technology, accounting for 39.9% or $634.1 million of the total in 2023. Going forward, the video-based technology segment is expected to be the fastest growing segment in the people counting system market segmented by technology, at a CAGR of 17.12% during 2023-2028.
The people counting system market is segmented by end user into retail, supermarkets and shopping malls, transportation, hospitality, corporate, banking, financial services and insurance (BFSI), healthcare and other end users. The retail market was the largest segment of the people counting system market segmented by end user, accounting for 32.6% or $518.29 million of the total in 2023. Going forward, the retail segment is expected to be the fastest growing segment in the people counting system market segmented by end user, at a CAGR of 19.20% during 2023-2028.
North America was the largest region in the people counting system market, accounting for 35.7% or $566.81 million of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the people counting system market will be Asia-Pacific and Africa, where growth will be at CAGRs of 18.54% and 18.00% respectively. These will be followed by the Middle East and Eastern Europe, where the markets are expected to grow at CAGRs of 17.62% and 17.30% respectively.
The global people counting system market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up 52.39% of the total market in 2023. Axis Communications AB was the largest competitor with a 17.88% share of the market, followed by Teledyne Technologies Incorporated with 9.90%, Hangzhou Hikvision Digital Technology Co., Ltd. with 7.94%, HELLA GmbH and Co. KGaA with 5.08%, Johnsons Controls International plc with 4.22%, RetailNext, Inc. with 3.55%, VIVOTEK Inc. with 1.13%, V-Count Inc. with 1.06%, Eurotech S.p.A. with 0.83% and Sensormatic Electronics Corporation with 0.79%.
The top opportunities in the people counting system market segmented by offering will arise in the hardware segment, which will gain $1.07 billion of global annual sales by 2028. The top opportunities in the people counting system market segmented by type will arise in the bidirectional segment, which will gain $1.18 billion of global annual sales by 2028. The top opportunities in the people counting system market segmented by mounting platform will arise in the ceiling segment, which will gain $1.05 billion of global annual sales by 2028. The top opportunities in the people counting system market segmented by end user will arise in the retail, supermarkets, and shopping malls segment, which will gain $729.01 million of global annual sales by 2028. The top opportunities in the people counting system market segmented by technology will arise in the infrared beam segment, which will gain $664.79 million of global annual sales by 2028. The people counting system market size will gain the most in the USA at $405.13 million.
Market-trend-based strategies for the people counting system market include introduction of AI-powered people counting software and systems for enhanced operational efficiency, focus on technologically advanced people counting sensors and integration of people counting sensors with IoT devices for efficient counting.
Player-adopted strategies in the people counting system market include focus on improving portfolio through product launches to expand product portfolio, development of advanced camera modules for people counting systems and strategic partnerships and acquisitions that offer new growth opportunities in international core markets.
To take advantage of the opportunities, the analyst recommends the people counting system companies to focus on AI-driven people counting solutions, focus on technological advancements, focus on integrating IoT, focus on the fastest-growing software segment, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, participate in industry conferences and trade shows, continue to use B2B promotions and focus on targeting retail, supermarkets and shopping malls.
The global people counting system market reached a value of nearly $1.58 billion in 2023, having grown at a compound annual growth rate (CAGR) of 9.83% since 2018. The market is expected to grow from $1.58 billion in 2023 to $3.31 billion in 2028 at a rate of 15.86%. The market is then expected to grow at a CAGR of 14.80% from 2028 and reach $6.61 billion in 2033.
Growth in the historic period resulted from the increasing urbanization, expanding healthcare sector, rising smart city projects, increasing focus on security and safety and growth in public infrastructure projects. Factors that negatively affected growth in the historic period include a lack of accuracy.
Going forward, the increasing demand in transportation hubs, rise in retail automation, rising popularity of real-time data analytics and growth of e-commerce will drive the market. Factors that could hinder the growth of the people counting system market in the future include data privacy concerns.
The people counting system market is segmented by offering into hardware and software. The hardware market was the largest segment of the people counting system market segmented by offering, accounting for 64.4% or $1.02 billion of the total in 2023. Going forward, the software segment is expected to be the fastest growing segment in the people counting system market segmented by offering, at a CAGR of 16.56% during 2023-2028.
The people counting system market is segmented by type into unidirectional and bidirectional. The bidirectional market was the largest segment of the people counting system market segmented by type, accounting for 61.2% or $972.68 million of the total in 2023. Going forward, the bidirectional segment is expected to be the fastest growing segment in the people counting system market segmented by type, at a CAGR of 17.28% during 2023-2028.
The people counting system market is segmented by mounting platform into ceiling, wall and floor. The ceiling market was the largest segment of the people counting system market segmented by mounting platform, accounting for 54.2% or $861.63 million of the total in 2023. Going forward, the ceiling segment is expected to be the fastest growing segment in the people counting system market segmented by mounting platform, at a CAGR of 17.39% during 2023-2028.
The people counting system market is segmented by technology into infrared beam, thermal imaging, video-based technology and other technologies. The infrared beam market was the largest segment of the people counting system market segmented by technology, accounting for 39.9% or $634.1 million of the total in 2023. Going forward, the video-based technology segment is expected to be the fastest growing segment in the people counting system market segmented by technology, at a CAGR of 17.12% during 2023-2028.
The people counting system market is segmented by end user into retail, supermarkets and shopping malls, transportation, hospitality, corporate, banking, financial services and insurance (BFSI), healthcare and other end users. The retail market was the largest segment of the people counting system market segmented by end user, accounting for 32.6% or $518.29 million of the total in 2023. Going forward, the retail segment is expected to be the fastest growing segment in the people counting system market segmented by end user, at a CAGR of 19.20% during 2023-2028.
North America was the largest region in the people counting system market, accounting for 35.7% or $566.81 million of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the people counting system market will be Asia-Pacific and Africa, where growth will be at CAGRs of 18.54% and 18.00% respectively. These will be followed by the Middle East and Eastern Europe, where the markets are expected to grow at CAGRs of 17.62% and 17.30% respectively.
The global people counting system market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up 52.39% of the total market in 2023. Axis Communications AB was the largest competitor with a 17.88% share of the market, followed by Teledyne Technologies Incorporated with 9.90%, Hangzhou Hikvision Digital Technology Co., Ltd. with 7.94%, HELLA GmbH and Co. KGaA with 5.08%, Johnsons Controls International plc with 4.22%, RetailNext, Inc. with 3.55%, VIVOTEK Inc. with 1.13%, V-Count Inc. with 1.06%, Eurotech S.p.A. with 0.83% and Sensormatic Electronics Corporation with 0.79%.
The top opportunities in the people counting system market segmented by offering will arise in the hardware segment, which will gain $1.07 billion of global annual sales by 2028. The top opportunities in the people counting system market segmented by type will arise in the bidirectional segment, which will gain $1.18 billion of global annual sales by 2028. The top opportunities in the people counting system market segmented by mounting platform will arise in the ceiling segment, which will gain $1.05 billion of global annual sales by 2028. The top opportunities in the people counting system market segmented by end user will arise in the retail, supermarkets, and shopping malls segment, which will gain $729.01 million of global annual sales by 2028. The top opportunities in the people counting system market segmented by technology will arise in the infrared beam segment, which will gain $664.79 million of global annual sales by 2028. The people counting system market size will gain the most in the USA at $405.13 million.
Market-trend-based strategies for the people counting system market include introduction of AI-powered people counting software and systems for enhanced operational efficiency, focus on technologically advanced people counting sensors and integration of people counting sensors with IoT devices for efficient counting.
Player-adopted strategies in the people counting system market include focus on improving portfolio through product launches to expand product portfolio, development of advanced camera modules for people counting systems and strategic partnerships and acquisitions that offer new growth opportunities in international core markets.
To take advantage of the opportunities, the analyst recommends the people counting system companies to focus on AI-driven people counting solutions, focus on technological advancements, focus on integrating IoT, focus on the fastest-growing software segment, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, participate in industry conferences and trade shows, continue to use B2B promotions and focus on targeting retail, supermarkets and shopping malls.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 People Counting System Market - Macro-Economic Scenario
9 Global Market Size and Growth
10 Global People Counting System Market Segmentation
11 People Counting System Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
22 Key Mergers and Acquisitions
23 Opportunities and Strategies
24 People Counting System Market, Conclusions and Recommendations
25 Appendix
Executive Summary
People Counting System Global Market Opportunities And Strategies To 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global people counting system market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for people counting system? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The people counting system market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider people counting system market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by offering, by type, by mounting platform, by technology and by end-user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the people counting system market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by offering, by type, by mounting platform, by technology and by end-user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for people counting system providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Offering: Hardware; Software2) 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
Key Companies Mentioned: Axis Communications AB; Teledyne Technologies Incorporated; Hangzhou Hikvision Digital Technology Co., Ltd.; HELLA GmbH and Co. KGaA; Johnsons Controls International plc.
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; people counting system indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Axis Communications AB
- Teledyne Technologies Incorporated
- Hangzhou Hikvision Digital Technology Co., Ltd.
- HELLA GmbH and Co. KGaA
- Johnsons Controls International plc.
- RetailNext, Inc.
- VIVOTEK Inc.
- V-Count Inc.
- Eurotech S.p.A.
- Sensormatic Electronics Corporation
- Mitsubishi Electric Corporation
- Wavetec
- Milesight
- Hikvision
- Dahua Technology
- RetailNext
- IEE S.A.
- iris-GmbH
- Infrared Integrated Systems Ltd.
- SensMax
- Xovis AG
- Axiomatic Technology
- SICK AG
- Terabee
- FootfallCam
- Intel Corporation
- NVIDIA Corporation
- IBM
- Micron Technology, Inc
- Highlight Manufacturing Corp., Ltd.
- Auto Watchdog Electronics Co., Ltd
- Moving Tactics CPT
- Vemco Group
- Milestone Integrated Systems (PTY) Ltd
- SEATech Systems
- VCA Technology Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 290 |
| Published | September 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 1588.7 Million |
| Forecasted Market Value ( USD | $ 6612.1 Million |
| Compound Annual Growth Rate | 15.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 36 |
