Pune, India, December 2018/MRFR Press Release/- Market Research Future has published a cooked research report on the Global People Counting System market.
According to Market Research Future (MRFR)’s analysis, the global people counting system market is estimated to strike a CAGR of 14% during the forecast period 2016 to 2022. The global market is expected to value at USD 1100 Mn towards the end of 2022. These systems comprise people counter devices that accurately measure a number of people while also considering the direction of the flow. It signifies reliability in counting entry and exit traffic separately. This, in turn, is projected to have a favorable impact on the expansion of the people counting system market.
The market is likely to gain traction in the upcoming years owing to rising demand for these systems in buildings for recording the total number of visitors. Also, the solution has developed application across different industry domains such as transportation, sports & entertainment, retail, etc. It is anticipated to augment the global people counting system market in the foreseeable future.
The technological developments in the product line of the key players have extended the application of people counting systems to fire management, monitoring of high-traffic areas, crowd management, and energy usage optimization. It is likely to amplify the demand for these systems across the world. The extensive use of this technology is shopping malls, concerts and sports are also projected to drive the growth of the people counting systems market over 2022.
By position, the Global People Counting System Market has been segmented into overhead beam, horizontal beam.
By type, the people counting system market has been segmented into bidirectional, and unidirectional. Among these, the unidirectional segment is likely to exhibit a relatively higher growth rate and reach a valuation of USD 600 Mn by the end of 2022.
By technology, the Global People Counting System Market has been segmented into wired, and wireless. The wireless segment is poised to have a larger customer base and strike a CAGR of 14% during the assessment period.
By application, the people counting system market has been segmented into transportation, government, retail, hospitality, banking & finance, sports & entertainment, and others. Among these, the transportation sector occupies a dominant position in the global market. It is prognosticated to value at USD 300 Mn towards the end of 2022.
The global people counting system market, by region, has been segmented into Asia Pacific, Americas, Europe and the Rest of the World. North America is expected to exhibit substantial growth over the assessment period. The rise in the adoption of IoT technology is dictating the expansion of the people counting system market in the region. Furthermore, the technologically advanced infrastructure of the region coupled with the consolidation of key players is poised to push the market on the growth trajectory.
Asia Pacific is an important revenue pocket of the people counting system market owing to the presence of major country-level markets such as China, India, Japan, and Singapore. In addition, the rising count of retail stores is another major factor responsible for catalyzing the expansion of the people counting system market in the region as these systems are majorly used in retail stores, supermarkets, and shopping malls.
Some of the key players profiled in the report are ShopperTrak, Retail Next, Inc., Iris GmbH, Axis Communication AB, HELLA Aglaia Mobile Vision GmbH, FLIR Systems, Infrared Integrated Systems Ltd, Eurotech SpA, IEE S.A., and Traf-sys, Inc.
In August 2018, Tyco Retail Solutions, a provider of integrated retail performance, announced that JOANN Stores, LLC, which is one of the leading fabrics and craft retailer, has rolled out its ShopperTrak in-store traffic analytics solution.
In November 2018, Axis Communications, a Swedish manufacturer of network cameras for video surveillance, has partnered with Genetec, an automation company, for enhancing data encryption capabilities.
In November 2018, Tyco Retail Solutions, a leading global provider of integrated retail performance and security solutions, has launched a new ShopperTrak Market Intelligence solution. A set of indices have been designed to draw unparalleled insights into traffic trends.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/people-counting-system-market-2739