The people counting system market is anticipated to grow enormously by 2028 owing to increasing product adoption across different sectors.
At the beginning of the COVID-19 pandemic, the industry saw a huge decline in demand due to the closure of hubs and stores in lockdowns. Recently, privacy concerns associated with the use of the technology have affected product outlook to a certain extent. However, the industry has showcased massive growth on account of surging utilization for managing passenger flow during the pandemic.
The people counting system market has been bifurcated based on component, technology, end-use, and region. On the basis of technology, the market has been further divided into infrared, thermal imaging, and video-based. The thermal imaging technology is expected to grow massively through 2028 due to rising safety concerns across the government & defense sectors in order to prevent any illegal activities.
With regards to component, the people counting system market has been split into hardware & software. Under hardware, the market has been classified into fixed dome camera, PTZ camera, fixed camera, and infrared beam. The fixed dome camera segment is anticipated to observe significant growth through 2028. Growing investments in research & development activities from manufacturers to develop their product portfolio are speculated to contribute to segmental growth.
In terms of end-use, the people counting system market has been segregated into commercial, BFSI, healthcare, government & defense, retail, hospitality & entertainment, and transportation. The BFSI segment is likely to exhibit robust growth by 2028. Increasing adoption of people counting systems in the BFSI sector to verify the feasibility and performance of different branches based on daily foot traffic is foreseen to impel segmental development.
The commercial segment is expected to witness notable expansion through the forecast period owing to mounting product demand in the commercial sector since the technology helps authorities in calculating the occupancy rate in a building and managing the traffic flow inside the premises. The hospitality & entertainment segment is estimated to amass substantial gains over the study timeframe because of the product’s capability to provide real-time information precisely for suitable resource allocation and adjustment.
The transportation segment holds a sizable share in the market and is poised to exhibit sturdy progress through 2028 backed by soaring government investments towards modernizing the existing transportation infrastructure. People counting systems allows authorities to store and monitor daily passenger data efficiently, which is slated to be favorable for segmental growth.
With respect to region, the Latin America people counting system market is poised to observe strong growth through 2028. Increasing urbanization across LATAM would encourage the administration to install people counting systems to prevent over-crowding at different locations, which is anticipated to promote product adoption.
Meanwhile, MEA accounts for a notable portion of the overall people counting system industry revenue and is primed to grow at a significant pace over the forecast period. Growing prevalence of smart city projects in Middle East & Africa are likely to accelerate market growth mainly because the technology assists authorities in monitoring pedestrian flow across the city.