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.
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.
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.