The analysts predict that the video-based technology expected to hold the largest market share during the forecast period. The market for the video-based technology is growing because of its advanced features, such as the ability to differentiate between a child and an adult and between a person and an object, allowing more accuracy in high-volume traffic, and the ability to withstand changing environmental conditions. The video-based people counting technology is one of the most popular technologies in the market owing to its high accuracy and advanced features.

Based on end user, the retail stores, supermarkets, and shopping malls segment is expected to witness the highest growth rate during the forecast period. The retail industry is becoming more complex and is constantly evolving. To sustain amidst the shifting demographics, new technologies, and well-informed shoppers, retailers have to modify their existing strategies to achieve new goals. Retailers need to know the footfalls at their shops at regular intervals to remain competitive in the complex retail world. By observing the ratio of traffic to sales, retailers can fairly and accurately compare stores with low sales volume and high sales volume.

Geographically, North America emerged as the major consumer for people counting systems. The presence of many of the world’s busiest airports and increasing adoption of people counting solutions in transportation are factors expected to propel the growth of the people counting system market in North America. Major companies, such as Retailnext, Shoppertrak, and Axis Communications, are launching their products in this region.

The major players in the people counting system market cited by the researchers include Axis Communications, Hella Aglaia Mobile Vision, Infrared Integrated Systems, Retailnext, Inc, Shoppertrak, Eurotech, Axiomatic Technology, Countwise, Dilax Intelcom, IEE, Iris, V-Count, and Xovis.