How Has the People Counting System Market Size Evolved in Recent Years?
The people counting system market has seen considerable growth due to a variety of factors.
• The market size of the people counting system has expanded significantly in the past few years. The market is projected to increase from $1.83 billion in 2024 to $2.12 billion in 2025, boasting a compound annual growth rate (CAGR) of 15.7%. The historical period's growth is due to factors such as the requirement for retail analytics, demand for public safety and security, the progression of intelligent buildings, enhancements in transportation and traffic management, and the use of healthcare facilities.
What are the Market Size and Expected Growth Rates for the People Counting System Market?
The People Counting System market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of the people counting system is projected to witness accelerated expansion in the coming years. Its growth is predicted to reach $3.83 billion by 2029, growing at a compound annual growth rate (CAGR) of 15.9%.
This growth in the projected timeline is ascribed to the progression in retail analytics, acceleration in smart city programs, prioritization of health and safety, interfacing with IoT and AI, and increased demand in transportation. The major trends anticipated during the forecast period are solutions that respect privacy, improved sensor technology, combined features with AI and machine learning, cloud-based analytics, and occupancy management solutions.
Which Key Drivers Are Propelling The People Counting System Market's Growth?
The global rise in smart city projects boosts the market for people counting systems. Smart cities are technically advanced areas that leverage information and communication technology (ICT) to enhance operational efficiency and enrich the quality of infrastructure for inhabitants. These cities utilize people-counting sensors to accumulate data relating to their citizens and rush hours, harnessing this information to bolster their infrastructure and public services. As per a study by the US-based Organization for Economic Co-operation and Development published in October 2023, from 2021, it escalated from 300 billion to over USD 650 billion by 2026. Specifically, in the U.S, there is an anticipated investment of USD 41 trillion over the forthcoming 2 decades for the upgradation and extraction of benefits from digital technologies. Consequently, the surge in global smart city initiatives propels the market for people counting systems.
What Are The Key Segments Within The Global People Counting System Market?
The people counting system market covered in this report is segmented –
1) By Offering: Hardware, Software
2) 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, Super markets, And Shopping Malls, Transportation, Hospitality, Corporate, Banking, Financial Services And Insurance (BFSI), Healthcare, Other End Users
Subsegments:
1) By Hardware: Infrared Sensors, Video-Based Sensors, Laser-Based Sensors, Wi-Fi Or Bluetooth-Based Sensors
2) By Software: Data Analytics Software, Integration Software, Cloud-Based Software Solutions
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How Are New Trends Impacting The Size Of The People Counting System Market?
The primary players in the people counting systems sector are innovating and launching new products like 3D ToF sensors to strengthen their market standing. A 3D Time of Flight (ToF) sensor is a technology that calculates the time consumed by a near-infrared light to travel from the sensor to an object and return. For example, in October 2022, a tech firm based in China, Milesight, introduced the 3D ToF People Counting Sensor VS132. This sensor leverages Time of Flight (ToF) technology and provides highly accurate (99.5%) and anonymous people counting in entrances or corridors. It comes with a convenient large-scale project deployment feature via LoRaWAN Wireless and GDPR compliance for privacy assurance. The VS132 with its versatile installation options and simple setup is well suited to numerous uses such as offices, retail shops, malls, supermarkets, metros, and HVAC system management, facilitating precise analysis and supervision of people flow.
Who Are the Key Players In The People Counting System Market?
Major companies operating in the people counting system market include:
• FLIR Systems Inc.
• Axis Communications AB
• Iris-GmbH
• Eurotech SpA
• V-Count Inc.
• Traf-Sys Inc.
• RetailNext Inc.
• ShopperTrak Rct Corp
• InfraRed Integrated Systems Ltd.
• SensMax Ltd.
• Xovis AG
• Infodev Electronic Designers International Inc.
• Sensormatic Electronics Corporation
• iris intelligent sensing NA Inc.
• Johnson Controls International plc
• Brickstream Corporation
• Countwise LLC
• DILAX Intelcom GmbH
• IEE SA
• NEC Corporation
• Omron Corporation
• Panasonic Corporation
What Are The Regional Insights Into The People Counting System Market?
North America was the largest region in the people counting system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the people counting system market report during the forecast period. The regions covered in the people counting system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
