People Counting System Companies - Axis Communications AB (Sweden) and iris-GmbH infrared & intelligent sensors (Germany) are the Key Players
The global people counting system market size is expected to grow from USD 1.1 billion in 2023 to USD 2.0 billion by 2028, at a CAGR of 12.9%. The rising installation of people counting systems in libraries, retail stores, and transportation hubs is the major factor driving the growth of the market.
The key players operating in the people counting system market include the major players that operate in different stages in the entire value chain of the people counting system; these players are Axis Communications AB (Sweden), iris-GmbH infrared & intelligent sensors (Germany), VIVOTEK Inc. (Taiwan), RETAILNEXT, INC. (US), and Hangzhou Hikvision Digital Technology Co., Ltd. (China). These players have adopted various growth strategies such as product launches and developments, collaborations, partnerships, acquisitions, and contracts to increase their presence in the global market.
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Axis Communication AB is one of the key players in the people counting system market. It held the major share of the people counting system market in 2022. The company offers AXIS 3D people counter which has tailgating detection as a feature that can detect and send a notification if more than one person enters within a set time interval. It has a large customer base, wide geographic presence, and strong distribution network across diverse regions and provides products that are embedded with the latest technology. The company has spent higher in 2021 on research & development (R&D) in comparison to 2020, which indicates the growth of the company’s product portfolio. Besides, the company has adopted organic growth strategies in recent years.
iris-GmbH infrared & intelligent sensors also holds a significant share of the market. The company provides highly reliable automated passenger counting systems based on innovative technologies. It continuously focuses its R&D activities on developing advanced technologies. Engineers at iris-GmbH strive to constantly enhance the competencies of the time-of-flight technology-based products offered by the company. The company has been attaining growth through both inorganic and organic strategies.
Another important player in the people counting system market is VIVOTEK Inc. The company’s products are well-positioned to outgrow the market. The multilingual capability of the products has enabled the company to serve different parts of the world. A wide range of offerings comprising various products related to the people counting system has helped the company strengthen its position in the people counting system market. The company also has a diversified geographic presence. A diversified geographical footprint provides the company with the resilience to withstand setbacks and helps stabilize revenue growth.
Related Reports:
People Counting System Market by Type (Unidirectional, Bidirectional), Technology (Infrared Beam, Thermal Imaging, Video Based), Hardware (Thermal Cameras, Infrared Sensors, Fixed Cameras, Fixed Dome Cameras), Software, End User - Global Forecast to 2028
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