People Counting System Market
The rise in population globally has necessitated the demand for control measures, especially at POS, motivating the People Counting System Market 2023. The SEM industry reports are produced by Market Research Future, which highlights market options for expansion. The market is estimated to be guided by an 18.2% CAGR in the forecast period.
The growing security concerns, coupled with the need to ensure lower wait times, are estimated to promote the growth of the people counting system industry. Moreover, as seen in the current pandemic situation of COVID -19, it is essential to enforce social distancing in essential facilities, and people counting systems can potentially reduce the possibility of infections.
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Detailed Regional Analysis
The regional assessment of the people counting system market includes regions such as Europe, the Middle East, North America, Africa, South America, and Asia-Pacific. The regional market in North America was responsible for the principal market share in 2018, with a superior market value. The people counting system market in the North American region is likely to register an incremental CAGR during the forecast period. The European region was the second primary market in 2018, valued highly in terms of earning potential. The people counting system market is likely to exhibit a CAGR of 18.5% in the European regional market. However, the regional market in the Asia-Pacific is anticipated to record a peak CAGR of 21.1%. The expansion in the North American region is motivated by the significant presence of chief retail outlets in the region. Moreover, the quick adoption of people counting systems in hospitality, public transportation, and entertainment sector is estimated to spur the global market favorably.
Segmental Analysis
The segmental evaluation of the people counting system market is carried out on the basis of connectivity, type, product, application, and region. Based on the type, the people counting system market is divided into bidirectional and unidirectional. On the basis of connectivity, the people counting system market is divided into wireless and wired. The segmentation of the people counting system market on a product basis consists of overhead people counting system and horizontal beam counting system. Based on the application, the people counting system market consist of government, sports entertainment, banking finance, retail, transportation, hospitality, others. On the basis of regions, the people counting system market is segmented into Europe, the Middle East, North America, Africa, South America, and Asia-Pacific.
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Competitive Analysis
The rebooting of manufacturing activities is another strategic aspect that is being emphasized to ensure that the supply of the end product can be reasonably ensured to the users in the market. The fortification of the human resource is estimated to be the critical point being addressed in these times of uncertainty. The market players are taking the steps that are necessary to ensure that the market survives the turbulent period and emerge recovered in the future. The support of the administration in countries around the world is estimated to have a significant impact on the development of the market in the upcoming period. The revamping of distribution channels is also expected in the coming years with a particular focus on using robots for the logistic function on a larger scale than before. The market is in a state of flux due to the rapid and severe changes in the global economy.
The strategic contenders in the people counting system market are RetailNext, Inc (US), HELLA GmbH Co. KGaA (Germany), ShopperTrak RCT Corporation (US), iris-GmbH infrared intelligent sensors (Germany), Traf-Sys Inc (US), Infrared Integrated Systems Ltd (UK), FLIR Systems, Inc (US), Axis Communications AB (Sweden), Siemens AG (Germany), Eurotech SpA (Italy) and V-Count (US).
