Video-based People Counting System Market - Introduction
- Video-based people counting systems are majorly used for real-time people traffic measurement by using a combined system of software and hardware sensors. The real-time data about traffic helps in people management and provides security as per human traffic in specific areas and sections.
- Growing technological advancement in the retail sector drives the adoption of people counting systems to manage the customer flow and help understand growth and variation in customer traffic.
- Several video-based people counting system providers are offering 2D and 3D video-based people counting solutions for different industries. Demand for people counting systems is seeing an increase in travel and transportation sectors to improve passenger management systems.
- The system is majorly used in railway stations, airports, and bus stations to provide security and enhance the real-time monitoring of passengers. Corporate offices and banks are also using video-based people counting systems to manage records of outside visitors and employees for safety purposes.
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Key Drivers of the Video-based People Counting System Market
- Growing demand for advanced people counting solutions from the entertainment and hospitality sector is expected to drive the growth of the market. Increasing investment by different governments for smart cities and rising demand for video-based people counting solutions in transportation sectors is also expected to boost the growth of the video-based people counting system market.
- Increasing adoption of advanced people counting solutions among retail, hospitality, and healthcare sectors is expected to create better business and revenue opportunities for solution providers of video-based people counting systems.
Increasing privacy concerns and poor services of Wi-Fi and Bluetooth-based systems expected to hinder the market
- Advancement in video-based people counting systems is beneficial for supermarkets, offices, and public spaces; however, it also creates security threats which restrains the growth of the market.
- Several system providers are offering Wi-Fi and Bluetooth connectivity-based solutions that fail to meet the expectation of the user in terms of accuracy and system connectivity. This is expected to hamper the growth of the market.
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Impact of COVID-19 on the Global Video-based People Counting System Market
- Companies are using video-based people counting systems to manage the people count in offices as per new government rules in different countries. Many companies are adopting the advanced people counting solutions to maintain the records of employees and provide safety during the COVID-19 situation.
- Demand for video-based people counting systems is increasing during the COVID-19 lockdown situation due to the increasing dependence of companies on advanced digital people counting solutions.
North America to Hold Major Share of the Global Video-based People Counting System Market
- North America holds a prominent share of the video-based people counting system market due to the presence of technologically advanced retail shops, supermarkets, shopping malls, banks, etc. and also the large airports that require advanced solutions in people counting or passenger management.
- The video-based people counting system market in Asia Pacific is expected to expand the fastest during the forecast period due to increasing investment by major players to provide the solution across the region and also due to the increasing adoption of advanced people counting solutions in commercial offices and banking sectors.
Key Players Operating in the Global Video-based People Counting System Market
- Axis Communications AB
Axis Communications AB was founded in 1984 and based in Sweden. The company is a global provider of video surveillance and physical security solutions. The company offers a wide range of products and solutions in network cameras, video management software, access control, and other security-related products.
- V-Count Inc.
V-Count Inc. was founded in 2006 and is a global provider of visitor tracking and analytics technological solutions. The company operates business activities in 80 countries by providing services to more than 400 clients. V-Count Inc. offers solutions in people counting, heat map, queue management, and business intelligence platforms.
Other key players operating in the global video-based people counting system market includes DILAX Intelcom GmbH, FLIR Systems, Inc., XOVIS AG, RetailNext, Inc., and IEE S.A.
Global Video-based People Counting System Market: Research Scope
Global Video-based People Counting System Market, by Component
- Fixed Camera
- PTZ Camera
- Others (Accessories, Sensors)
- Professional Services
- Managed Services
Global Video-based People Counting System Market, by Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
Global Video-based People Counting System Market, by Industry
- IT & Telecom
- Manufacturing & Automobile
- Sports & Entertainment
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
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Below is a snapshot of these quadrants.
1. Customer Experience Map
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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?
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