Chicago, Aug. 22, 2022 (GLOBE NEWSWIRE) -- People Counting System Market by Type (Unidirectional, Bidirectional), Technology (Thermal Imaging, Video-Based), Offering, End-User (Retail Stores, Supermarkets, Shopping Malls), Region (2021-2026)", Increasing focus of retailers, libraries, and transportation hubs on installing public counters owing to their long-term benefits and the rising adoption of people counting systems to measure marketing effectiveness are the major factors driving the people counting system market growth.

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Browse in-depth TOC on "People Counting System Market" 272 - Tables 81- Figures 317 – Pages

The bidirectional people counting system segment held the largest share of the people counting system market, and a similar trend is likely to be observed during the forecast period. Its ability to track individuals coming and departing simultaneously but record the counts independently for greater accuracy, and to integrate with several technologies, such as infrared beam, thermal imaging, and video-based are some of the key factors contributing to the growth of the low-end people counting system segment.

InfraRed Integrated Systems Ltd (IRISYS) held the leading position in the people counting system market as one of the key manufacturers of people counting systems. The company is one of the leading providers of thermal imaging, people counting, and queue management solutions. Solutions offered by the company have applications in retail stores, banks, transport hubs, leisure facilities, and public buildings. The company held ~6% share of the people counting system.

Sensormatic Solutions held the second position in the people counting system market. It is a subsidiary of Johnson Controls International plc, a global leader in building products and technology, integrated solutions, and energy storage solutions. Sensormatic Solutions held ~4%–5% share of the people counting system market in 2020. The company holds a strong position in the people counting system market.

The key players operating in the People Counting System Market include

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The retail stores, supermarkets, and shopping malls end user of the people counting system market is projected to grow at the highest CAGR from 2021 to 2026 The retail stores, supermarkets, and shopping malls end user held the largest size of the people counting system market in 2020 and a similar trend is likely to be observed during the forecast period. The increased number of shopping malls in emerging nations such as Brazil, India, and China contributes to the growth of the people counting system market. Retailers can also benefit from people counting systems by obtaining key performance indicators (KPIs) that characterize their current business scenarios. Further, the top companies have been enhancing their product portfolios and cracking deals by signing agreements with various retail stores, shopping malls, and supermarkets to improve customer retention by adopting people counting systems.

The market for video-based people counters is expected to grow at the highest CAGR during the forecast period

The video-based people counters of the market is projected to record the highest CAGR from 2021 to 2026. The growth can be attributed to significant demand for accuracy as this technology is capable of providing a more precise count of visitors compared to other technologies. These systems have a ~95% accuracy and can count in both directions; they may be linked with modern analytical systems that help end users with in-store analytics, dwell time measurement, queue management, etc.

The hardware offerings held the largest share of the people counting system market, and this trend is projected to continue during the forecast period. The capacity to gather more precise data necessary for giving an exact visitor count plays a crucial role in expanding the market for hardware offerings. Companies have been substantially investing in the development of additional technology that can operate in severe settings without affecting the efficiency of people counting systems. The wide adoption of hardware offerings such as sensors and cameras by all end users is also contributing to the segment growth.

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