People Counting System Market

Markets Leaders - People Counting System Market

The global people counting system market is expected to grow from USD 796 million in 2019 to USD 1,275 million by 2024; it is expected to grow at a CAGR of 9.9% during 2019–2024. Key factors fueling the growth of this market include the ongoing technological advancements in the retail industry, rising concerns for safety & security at public places, and growing need for people counting systems in hospitality, sports & entertainment applications.

Key players in the people counting system market comprise companies operating at different stages of the value chain. These include Axis Communications (Sweden), HELLA Aglaia Mobile Vision GmbH (Germany), Infrared Integrated Systems (IRISYS) (UK), RetailNext (US), ShopperTrak (US), Eurotech (Italy), Axiomatic Technology (UK), CountWise (US), Dilax Intelcom GmbH (Germany), and IEE S.A. (Luxembourg). Many of these companies focus on adopting both organic and inorganic growth strategies, such as product launches, acquisitions, expansion, mergers, collaborations, agreements, and contracts to strengthen their position in the market.

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Top 2 players in people counting system market:

In 2018, Axis Communications (Sweden) ranked first in the global people counting systems market, primarily based on its product portfolio, R&D investments, market penetration, and geographic reach. The company is fostering its growth by launching products and acquiring other companies. The company has a presence in the Asia Pacific (APAC), Europe, North America, South America, and the Middle East and Africa. A few of its subsidiaries are Axis Communication Axernet Communications Kenya Limited (Kenya), Axis Comunicaciones Chile Limitada (Chile), Axis Video Systems India Private Limited (India), Axis Alfa AB (Sweden), Axis Gamma AB (Sweden), and Axis Communications Inc. Canada (Canada). New product launch is the key strategy adopted by the company to grow in the market. For instance, in July 2018, the company launched the AXIS Q3518-LVE through its AXIS Q35 Series. The AXIS Q3518-LVE offers high performance in harsh environments with 4k capabilities. Similarly, in April 2018, the company launched several new network cameras with IR capabilities. These new products also offer PTZ cameras, fixed-dome cameras, bullet cameras, fisheye cameras, and panoramic cameras with IR capabilities.

HELLA Aglaia Mobile Vision GmbH (Germany) ranked second in the global people counting system market. The company established its presence globally with a business portfolio serving retail and transportation industry. The company seeks to expand its market presence through technological developments and product launches. For instance, in September 2018, they launched the APS-B light-weight people detector for buses/transportation application. Owing to this, the company strengthens its product portfolio.

Similarly, in November 2017, the company launched APS-90E and APS-180E sensors through its APS sensor family. Both of these sensors are capable of operating in a temperature range of -25°C to +75°C, which makes it suitable for harsh outdoor environments. Moreover, both of these products allow video recording with an internal memory of 8 GB.

Related Reports:

People Counting System Market by Type (Unidirectional, Bidirectional), Technology (Infrared Beam, Thermal Imaging, Video-Based), Offering, End-User (Retail Stores, Supermarkets, Shopping Malls, Transportation), Region - Global Forecast to 2024

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Report Code
SE 4926
RI Published ON
9/27/2019
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