People Counting System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The people counting system market is expected to grow at a CAGR of 12% during the forecast period of 2021 - 2026. With the integration of IoT and cloud services for stimulating the building security is likely to augment the demand for people counting systems. The deployment of such devices has increased in recent years due to the government rules and mandates owing to the increase in acts of terrorism and violence in malls, events, and clubs.

• This system has gained market traction in almost all sectors; however, retail and commercial spaces tend to dominate the market. The rising number of supermarkets, shopping malls, and retail stores are boosting the adoption of people counting technologies worldwide.
• In retail stores, these systems are deployed to calculate the conversion rates, staff planning, and hence enhance marketing effectiveness. It is also used for crowd management in crowded places such as shopping malls and concerts, where other than crowd management it is also used for monitoring high-traffic areas.
• On the other hand, the massive growth in the e-commerce industry and the expanding online sales channel pose a significant threat to the brick and mortar stores, which in turn is adversely affecting the growth of the market.

Scope of the Report

The people counting system consists of the counter device integrated with a surveillance camera and facial recognition technology that measures the number of people and the direction in which they travel. The people counting system is widely used in the entrance and exist of shopping malls, retail stores, government buildings, and many other public places, where there is a chance of high crowd.

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Key Market Trends

Retail Sector to Dominate the Market

• As the retail sector is booming with the advent of advanced technologies, the retail stores are leveraging technological solutions to optimize operations, improve customer satisfaction, and boost profitability, hence driving the need for people counting systems.
• People counting devices helps retailers record the number of footfalls, conversion rates, lost sales opportunities. The managers can then compare these numbers and hence determine the pattern in consumer behavior. These features help them devise a new marketing campaign or plan a new product launch effectively.  
• These devices also help the store managers to improve in-store operations like staffing, customer service, and product restocking. Apart from calculating footfall, the store managers are also able to manage the crowd effectively. These factors are the major factors expected to stimulate market growth in the retail sector in the forecast period.
• However, the massive growth in the e-commerce sector and the rise of various online shopping websites is expected to hinder the market growth as it is expected to slow down the adoption of the people counting devices.

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