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.