1. A sensing device comprising: a depth stream sensor that collects depth stream data; a local processor configured to receive the depth stream data from the depth stream sensor, wherein the local processor executes instructions stored on a non-transitory medium to implement a plurality of modules utilized to analyze the depth stream data, the modules including: a spatial analysis module connected to receive and analyze the depth stream data on a frame by frame basis, wherein the spatial analysis module that iteratively identifies objects of interest within each frame by locating a local minimum depth value pixel associated with the depth stream data and utilizing depth data of neighboring pixels to select pixels to be included as part of the identified object of interest, removes the identified object of interest from the frame being analyzed and repeats until all objects of interest have been identified and removed; an object classifier module that receives extracted objects of interest from the spatial analysis module and utilizes one or more features to verify whether extracted objects represent desired objects of interest, wherein extracted objects that do not correspond with a desired object of interest are discarded; and an analytics module that detects events based on the verified objects of interest.