San Francisco, California, May 15, 2017: Globally, the increasing number of supermarkets, shopping malls, and retail stores is triggering the deployment of people counting systems. There is a strong need for retailers to monitor footfalls in order to remain competitive. Traffic to sales ratio can help retailers in accurately comparing stores on the basis of sales volume. A report by TMR Research, titled “People Counting System Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” offers a comprehensive study of the market. It provides a detailed analysis of the various parameters of the global people counting system market, including trends, opportunities, geographical segmentation, and competitive scenario, for the forecast period between 2017 and 2025.
The availability of easy set-up and low-cost solutions is stoking the growth of the global people counting system market. The snowballing demand for people counting solutions in the transport sector is also contributing to the overall revenue generation of the market. Rapid technological advancements and robust growth of the retail sector, particularly in emerging countries, are likely to provide a significant push to the market.
On the flip side, the expansion of the worldwide e-commerce industry and the growing popularity of online sales channel are challenging the growth of the brick and mortar commerce, which in turn is hampering the growth prospects of the market.
Geographically, Asia Pacific will account for a large chunk in the revenue pie of the global market. The rising number of shopping malls, retail stores, and supermarkets are prompting global participants to invest in the region. Besides this, favorable government initiatives are promoting the presence of foreign retailers in India, which is also leading to the widening pool of retail stores in Asia Pacific. Countries such as Hong Kong, China, Japan, India, Malaysia, and Singapore will be the sites of high growth rate throughout the forecast horizon.
Other developing regions such as Latin America and the Middle East and Africa are likely to witness similar growth conditions. The presence of infrastructure such as airports, train stations, and bus stations along with a substantial number of upcoming projects are boosting the adoption of people counting systems. The robust growth of the hospitality industry is also supporting the growth of the regions.
Product innovation and technological advancements are special areas of focus for key manufacturers in the global people counting system market. They are aiming at portfolio diversification through mergers and partnerships in enhance their visibility in the market. Some of the key players in the global people counting system market are Point Grey Research Inc., InfraRed Integrated Systems Ltd., RetailNext Inc., Eurotech S.p.A., IEE S.A., Countwise LLC, Axiomatic Technology Limited, Xovis AG, IEE S.A., IRIS-GmbH, Axis Communication AB, and ShopperTrak.