Global People Counting System market will reach 2410 million US$ by the end of 2025
Published Date: 2018/11/1
People counting systems are devices that are used to count the number of people traveling a certain entrance or passage. In retail stores, they are usually deployed to calculate conversion rate and marketing effectiveness and are used in staff planning.
The people counting system market is expected to be worth USD 1533.30 Million by 2022, at a CAGR of 18 % between 2016 and 2022. The growth of this market is propelled by the growing retail sector and increase in adoption rate of people counting systems, availability of economical and easy-to-install solutions, and increasing demand from transportation sector for people counting solutions. The advancements in people counting solutions such as availability of 3D people counting and the growing opportunity in emerging markets such as Latin America, Middle East and Africa would provide ample growth opportunities for the people counting system market in the coming years.
The video-based technology is expected to dominate the people counting system market during the forecast period. The video-based technology offers high accuracy during high-volume traffic, ability to detect the direction in which person or shopper is moving, remains unaffected in varying environments of light, heat, shadows, and it can easily distinguish people from objects and track continuously through a large area for an extended period of time.
The global People Counting System market is valued at 690 million US$ in 2017 and will reach 2410 million US$ by the end of 2025, growing at a CAGR of 17.0% during 2018-2025.
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