San Francisco, CA -- (SBWIRE) -- 03/21/2019 -- Global People Counting System Market: Overview
The global people counting system market is expected to gain a significant momentum in the coming years. People counting systems are gaining popularity owing to their high accuracy and reliability in monitoring and counting entrance and exit traffic separately, while excluding carts, children, and strollers. They are also capable of counting multiple individuals entering simultaneously. These systems are being increasingly deployed across retail stores, banks and financial institutes, healthcare and government institutes, hospitality, and transportation. Some of the common types of technologies used for counting people are thermal imaging, infrared beam, and video based.
The report is a professional study on the global people counting system market, compiled by meticulously analyzing various critical parameters of the market. It provides a detailed overview of the factors impacting the growth of the market. It offers qualitative and quantitative insights into the competitive landscape of the market. Competitive profiling of the prominent players in the market along with their market shares, business strategies, cost and revenue structures, latest developments, and contact information forms a vital part of the report. It performs SWOT analysis to reveal potential growth trajectory of each prominent player in the global people counting system market.
Global People Counting System Market: Snapshot
People counting systems are devices that are used to count the number of people traversing a certain entrance or passage. In retail stores, they are usually deployed to calculate conversion rate and marketing effectiveness and are used in staff planning. In crowded places such as shopping malls and concerts, other than their conventional job of calculating footfall, they are used for crowd management and monitoring of high-traffic areas. Their additional uses include fire management and energy usage optimization.
Among the various end users, the demand for people counting systems is likely to remain high in retail stores and shopping malls throughout the forecast period. In an attempt to sustain the rising competition due to shifting demographics and the advent of new technologies, retailers are modifying their existing strategies. As a result, they are increasingly adopting people counting systems.
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The spiraling demand for video-based people counting systems is positively impacting the growth of the overall market. The high accuracy and reliability offered by this technology during high volume traffic and high stability against changes in environmental conditions such as light, shadows, and heat are providing a boost to their demand. The demand for Wi-Fi tracking technology is also expected to increase over the forthcoming years. The technology helps in tracking the actual, potential, and repeating visitors and is efficient in terms of eliminating staff from total people count.
The global people counting system market is estimated to witness the advent of new technologies, which will be in the favor of the market. The availability of 3D systems is anticipated to revolutionize the mechanism of people counting.
Global People Counting System Market: Drivers and Restraints
The rising number of shopping malls, supermarkets, and retail stores is boosting the adoption of people counting technologies worldwide. Retailers need to monitor footfalls at their shops periodically to remain competitive. By knowing the traffic to sales ratio, retailers can accurately compare stores on the basis of sales volume. Moreover, the availability of easy set-up and low-cost solutions is escalating the growth of the market. The market is also witnessing a sharp rise in the demand for people counting solutions in the transport sector. The future of the market looks bright with technological advancements.
On the other hand, the robust growth of the e-commerce industry and the expanding online sales channel pose a considerable threat to the brick and mortar commerce, which in turn is adversely affecting the growth of the market.
Global People Counting System Market: Region-wise Outlook
The key segments analyzed in the report on the basis of geography are North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific will be a prominent market throughout the forecast period. The increasing number of supermarkets, retail stores, and shopping malls are attracting international players to invest in the region. In addition, conducive government initiatives are encouraging the presence of foreign retailers in India, which is also leading to the rising number of retail stores in Asia Pacific. Countries such as China, Hong Kong, India, Japan, Malaysia, and Singapore will be the sites of high growth rate throughout the same span.
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Moreover, the presence of infrastructure such as train stations, airports, and bus stations along with a large number of upcoming projects are triggering the deployment of people counting systems. The expansion of the hospitality industry is also facilitating the growth of the region.
Global People Counting System Market: Competitive Landscape
Product innovation and technological advancements are of critical importance to key manufacturers in the global people counting system market to stay relevant in the market. They are focusing on portfolio diversification through partnerships and mergers in order to strengthen their position in the market. Some of the key players in the global people counting system market are Axis Communication AB, RetailNext Inc., InfraRed Integrated Systems Ltd., IEE S.A., Eurotech S.p.A., Countwise LLC, Xovis AG, Axiomatic Technology Limited, IRIS-GmbH, IEE S.A., Point Grey Research Inc., and ShopperTrak.
Household Refrigerators and Freezers Market: Snapshot
The global household refrigerators and freezers market is expected to witness a high growth in the coming years on account of the rising initiatives for achieving energy efficiency by the governments across countries and the growing spending capacity of consumers. The refrigerators built in the past and those built today have much difference in terms of the energy they utilize. Thus, there is a high demand for replacement of old refrigerators and freezers with the latest technology product.
This has resulted in the obsolescence of old-fashioned or conventional freezers and refrigerators. Manufacturers of refrigerators and freezers today, are striving to meet the standards and are thus manufacturing efficient products. Players are also offering customers, user-friendly features such as water tap on the door, through-the-door-ice, and similar other technological advancements. The pairing of refrigerators with smartphones will be another trend, driving the growth of this household refrigerators and freezers market.
The growth of household refrigerators and freezers market can also be attributed to the growing trend of having nuclear families and high disposable income, which has resulted in the want for improved lifestyle products across the globe. Players in the market are concentrating on improving the structure of the equipment from the inside, and research and development is being carried out to bring about these improvements and innovations.
Players are also brining about advancements in the cooling technology and providing energy efficient options to traditional products. Manufactures of freezers and refrigerators are also strengthening their position in the market by offering service and aftermarket operations.
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Global Household Refrigerators and Freezers Market: Overview
Refrigerators and Freezers have been an integral part of majority of households across the world for several decades. However, in the recent times, the growing culture of packaged food and irregular eating habits among the urban population has experienced an exponential surge. Backed by increased disposable income among the middle class, the global market for household refrigerators and freezers is projected for a healthy growth rate during the forecast period of 2017 to 2025.
This report on global household refrigerators and freezers market is a holistic overview of the market in its current scenario, and on the basis of several factors that are expected to influence the demand over the next few years, it presents an estimation of the future. The report also highlights some of the trends and opportunities available for the vendors to base their strategic developments on.
To present a clear picture of the competitive landscape, the report profiles several prominent companies for their market share, product portfolio, pricing and margin, geographical presence, and updates on mergers, acquisitions, and collaborations. On the basis of product, the global household refrigerators and freezers market can be segmented into top mounted, bottom mounted, French door, and side-by-side. Geographically, the report studies the regional markets of North America, Asia Pacific, Europe, and Rest of the World.
Global Household Refrigerators and Freezers Market: Trends and Opportunities
The increasing need to conserve energy is not only escalating the cost of electricity for the consumers but is also enticing them to invest on technologically advanced refrigerators and freezers that are high on energy-efficiency. Several governments have regulations to inform the consumer regarding the energy-efficiency of electronic products, such has ENERGY STAR label, is quickly incrementing the awareness about advanced products.
Currently, the food and beverage industry is thriving, which is also expected to positively reflect on global household refrigerators and freezers market as this increased uptake of packaged food items require preservation via freezing process. Technologically advancements in this field has also led to innovative refrigerators and freezers that are not only more efficient and consume less energy, but also are light-weight and safely portable.
According to the report, the segment of French door bottom-freezer refrigerator accounts for the maximum market shares, although side-by-side refrigerators are projected for the best growth rate during the forecast period. Rising demand for higher capacity and frost-free products is a trend that must be noted by the players, besides focusing on higher-end spectrum or premium product that ultimately offer higher profit.
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Global Household Refrigerators and Freezers Market: Regional Outlook
High rate of disposable income and requirements for energy make Europe the most profitable region, although energy efficiency upgrade in September 2015 will ensure extended demand for advanced products from the country of U.S., thereby making North America another lucrative region. Recent models of household refrigerators and freezers have significantly lower operating cost despite offering advantages such as temperature adjustability, automated food ordering, and smartphone controls. Asia Pacific too is projected for a healthy growth rate owing to factors such as changing lifestyle in several emerging economies, vast population base, and increasing disposable income.
Key Players Mentioned in this Report:
Some of the prominent companies in global household refrigerators and freezers market are Electrolux, Whirlpool, Samsung, Haier and LG. With an exhaustive product portfolio, robust geographical presence, continuous efforts to bring advanced products, and aggressive market, these key players dominate the market and own major shares. Other notable players include General Electric, Panasonic, Bosch, and Frigidaire.
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