Rising needs for ensuring road safety and better surveillance to drive the adoptions of ANPR technology whose market is forecasted to grow at a CAGR of 12.0%Published Date: Aug 2017
According to a new market research study titled ‘Automatic Number Plate Recognition Market to 2025 – Global Analysis and Forecasts by application, system type and end-use industry’, the global ANPR market was valued at US$ 643.1 Mn in 2016 and is estimated to reach US$ 1654.4 Mn by 2025. The report highlights the trends prevalent in the global ANPR market and the factors driving the market along with those that act as deterrents to its growth.
Increase in the number of crime related activities, traffic congestions are a few factors that are bolstering the market growth for ANPR. Progresses in numerous technologies related to ANPR have led to significant interest in the ANPR arena.
There has been a large increase in the number of operated cars with the increasing urbanization and rising lifestyle of population. With this increase, the traffic congestion is one of the major problem faced by the urban cities. Traffic management has become one of the major concerns faced by the law enforcement agencies. With the ANPR technology, it makes easier for the law enforcement agencies to traffic and monitor any kind of illegal activity and provide better surveillance. This technology is also being used for a better parking management and automation of toll booths to avoid traffic congestion and provide better security.
The global ANPR market has been segmented on the basis of application into Vehicle Parking, Traffic Management, Security & Surveillance and Toll Enforcement. On the basis of system types, the ANPR market is categorized into Mobile, Portable ANPR and Fixed ANPR. Apart from these, ANPR have been segmented on the basis of end-use industry into Government and Commercial. Geographically, the global ANPR market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
The automotive industry is expected to witness a rapid growth and drive the growth of ANPR market. Players having a good hold over the ANPR market can look to venture into providing solutions for the law enforcement agencies and private industry. The key players profiled in the report are 3M Company, ARH Inc., COBAN Technologies Inc., Digital Recognition Systems, Ltd, Genetec Inc., Jenoptik AG, Q-Free ASA, Siemens AG, Tattile S.R.L, and Vigilant Solutions.
Global Automatic Number Plate Recognition Market Breakdown by Regions, 2016 (%)
Source: The Insight Partners Analysis
The report segments the global Automatic Number Plate Recognition market as follows:
Global Automatic Number Plate Recognition Market – By Application
Security & Surveillance
Global Automatic Number Plate Recognition Market – By System Type
Global Automatic Number Plate Recognition Market – By End-Use Industry
Global Automatic Number Plate Recognition Market – By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South America (SAM)