AP NEWS

People Counting Systems: Worldwide Market to Grow at a CAGR of 10.6% to Reach $1.15 Billion by 2023 - Drivers, Trends, Opportunities and Challenges - ResearchAndMarkets.com

July 6, 2018

DUBLIN--(BUSINESS WIRE)--Jul 6, 2018--The “People Counting System Market by Technology (IR Beam, Video-Based, Thermal Imaging), Hardware and Software, End User (Retail Stores, Supermarkets, and Shopping Malls, Transportation, Corporate, Hospitality), and Region - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.

The people counting system market is projected to grow from USD 694.7 Million in 2018 to USD 1,150.2 Million by 2023, at a CAGR of 10.6% between 2018 and 2023.

Among end users, the retail stores, supermarkets, and shopping malls segment held the largest share of the people counting system market in 2017. The main driver for the growth of this segment’s market is the increasing importance and use of people counting technology in the constantly evolving retail market.

Based on technology, the video-based technology is estimated to hold the largest market share in 2018, and this trend is expected to continue during the forecast period. The large share is attributed to advanced features of the video-based technology, such as the ability to differentiate between a child and an adult and between a person and an object, allowing more accuracy in high-volume traffic, and the ability to withstand changing environmental conditions.

The people counting software market is expected to grow at a higher CAGR than the hardware market between 2018 and 2023. Software data helps business managers make knowledgeable business decisions. Software plays a crucial role in providing valuable insights and in helping businesses improve their offerings and accountabilities.

Market Dynamics

Drivers

Growing Retail Sector and Increased Adoption Rate of People Counting Technologies Availability of Low-Cost and Easy to Set Up People Counting Solutions Growing Need for People Counting Solutions in the Transportation Sector

Restraints

Booming E-Commerce Industry and Increasing Online Sales Channels

Opportunities

Advancements in People Counting Solutions Such as the Availability of 3D People Counting Growing Opportunities in Emerging Markets Such as Latin America, the Middle East, and Africa

Challenges

Location Inaccuracy and Privacy Concerns in Wi-Fi- and Bluetooth-Based People Counting Technologies

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 People Counting System Market, By Technology

7 People Counting System Market, By Hardware and Software

8 People Counting System Market, By End User

9 People Counting System Market, By Geography

10 Competitive Landscape

11 Company Profiles

Axiomatic Technology Axis Communications Clever Devices Countwise Density Dilax Intelcom Eurotech Hella Aglaia Mobile Vision IEE S.A. Infodev Electronic Designers International Infrared Integrated Systems (IRISYS) Innovation in Traffic Systems AG IRIS Point Grey Research Retail Sensing Retailnext Shoppertrak Startup Ecosystem Syncromatics V-Count Xovis AG

For more information about this report visit https://www.researchandmarkets.com/research/6lv2fs/people_counting?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180706005333/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

Related Topics:Software,Video Surveillance

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE SECURITY

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 07/06/2018 12:14 PM/DISC: 07/06/2018 12:14 PM

http://www.businesswire.com/news/home/20180706005333/en

AP RADIO
Update hourly