Global People Counting System Market: Overview
People counting system refers to the utilization of an electronic device that counts the number or people passing through a specific entrance or a passage. In other words, these electronic devices are utilized to measure footfall at a certain counter. Every business comes with physical space and they need to gauge the footfall at certain counters so as to get a glimpse of what is happening with their business or how well or bad their businesses are doing. Whether one is at a bank or library, shopping mall or retail chain or local shops or restaurants, people counting data assists in keeping one well-informed about the business so as to help them take decisions accordingly. Growing importance of footfall for various businesses is anticipated to support growth of the global people counting system market in the years to come, from 2020 to 2030.
The important factors that trigger growth of the global people counting system market comprise technological progress made in the retail industry, public space security, and increasing concern for safety. In addition, there has been a growing need for people counting system in various entertainment, sports, and hospitality applications so as to make sure that people in retail stores and public spaces maintain social distancing and adhere to the health and hygiene norms as set out by WHO and other regulatory bodies. These factors are anticipated to propel the growth of the global people counting system market over the period of analysis, from 2020 to 2030.
Type, technology, end user, and region are the four important parameters based on which the global people counting system market has been classified.
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Global People Counting System Market : Notable Developments
One of the relevant and important developments of the market that gives a quick view of the dynamics pertaining to global people counting system market is mentioned as below:
- In March 2020, HELLA Aglaia Mobile Vision GmbH entered into partnership with VIDEOR E. Hartig GmbH in a bid to expand its presence in Europe. Germany based VIDEOR E is a prominent provider of very high quality business intelligence and video analysis. With this partnership, the latter is anticipated to work in the capacity of distributor for HELLA Aglaia.
Some of the prominent organizations in the global people counting system market comprise the below-mentioned:
- Infodev Electronic Designers International, Inc
- HELLA Aglaia Mobile Vision GmbH
- DILAX Intelcom GmbH
- InfraRed Integrated Systems Ltd
- FLIR Systems, Inc
- Axis Communications AB
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Global People Counting System Market : Key Trends
The global people counting system market is characterized by the presence of the following restraints, drivers, and opportunities.
Increased Digitization of Retail Spaces is Estimated to Drive Demand in the Market
The growth of the global people counting system market is likely to be influenced by the growing awareness about and importance of retail analytics for the comprehension of consumer preferences and behavior in sectors such as entertainment, hospitality, and retail. Many counting technologies make an offering of measurement of real-time traffic utilizing combinations and software and hardware. Use of video-based sensors and systems has proven to be fruitful in many cases for several end use industries. Information derived from such analysis has proven to be beneficial for management of people and security. As such, these factors are likely to play an important role in the growth of the global people counting system market over the tenure of assessment, from 2020 to 2030.
Increased adoption of digitized technologies together with rapidly developing retail segment are, in a way, forcing retail owners to go for advanced people counters. Many organizations have come up with retail-specific application systems that offer better customer behavior analytics to the retailer owners.
Global People Counting System Market: Geographical Analysis
Asia Pacific is estimated to account for a considerable chunk of the global people counting system market and is likely to retain its dominance throughout the tenure of analysis, from 2020 to 2030. Rapid technological advancement in the retail sector in countries like Singapore, China, and India is likely to augur well for the market in Asia Pacific in the forthcoming years.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.