Automatic Number Plate Recognition (ANPR) Market Industry Growth, Global Research, Future Demands Status, Emerging Trends and Forecast to 2027
Research Reports
Jan 12, 2022
Automatic Number Plate Recognition (ANPR) Market Overview:
The automatic number plate recognition (ANPR) market will witness a healthy growth from 2018 to 2023, a research report suggests. Growing at a high CAGR, the market is projected to reach US$1,100 million by 2023. Deployment of ANPR systems in security and surveillance is expected to support the market growth along with the rising adoption of ANPR systems in traffic enforcement applications. As predicted by analysts, inconsistency in number plate design will negatively affect the market’s performance from 2018 to 2023. During the forecast period, the market will be supported by increase in the use of cloud-based storage services and cost-effective and scalable storage solutions.
Misinterpretation of unclear characters on the number plate on the other hand will challenge traffic enforcement sector based organizations functioning in the global automatic number plate recognition (ANPR) market. Analysts have split the market into type, end-use, components, and applications segments based on products and services. Traffic enforcement based companies have been profiled. The lack of effective communication is set to affect the global Automatic Number Plate Recognition (ANPR) Market during the forecast period 2018 to 2023. The report also provides the market’s performance forecasts till 2023. Analysts have studied the strategy of traffic enforcement segment based organizations to help new entrants and established businesses. The traffic enforcement sector itself is supported by low cost, flexibility, and scalability as well as automation in industries. During the forecast period 2018 to 2023, the Automatic Number Plate Recognition (ANPR) Market is set to witness a health growth across type, end-use, components, and applications segments as well as regional markets.
Key Players
Key players profiled in the global automatic number plate recognition (ANPR) market report include Genetec Inc, Vigilant Solutions, Conduent Inc., Leonardo Company, Siemens AG, Bosch Group, Jenoptik Group, Neology, Inc., Tattile SRL, and Kapsch TrafficCom AG, among others.
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Market Segmentation
The Market Research Future Report highlights an inclusive segmental analysis of the global automatic number plate recognition market based on type, component, application, and end user.
By type, the automatic number plate recognition market is segmented into portable ANPR systems, fixed ANPR systems, and mobile ANPR systems. Of these, the fixed ANPR systems type segment will lead the market over the forecast period.
By component, the automatic number plate recognition market is segmented into ANPR software, frame grabbers, triggers, ANPR cameras, and others. Of these, the ANPR software segment will dominate the market over the forecast period.
By application, the automatic number plate recognition market is segmented into access control, parking management, electronic toll collection, law enforcement, and traffic management. Of these, the law enforcement application segment will spearhead the market over the forecast period.
By end user, the global automatic number plate recognition market is segmented into homeland security, defense, government, and commercial. Of these, the government segment will stay at the forefront in the market over the forecast period.
Regional Analysis
By region, the global automatic number plate recognition (ANPR) market covers the market opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, Europe is predicted to have the lions share in the market over the forecast period. It is likely to grow at a 10.5?GR. Growing adoption of ANPR in Netherlands, France, the UK, and Germany and increasing public infrastructure & highways are adding to the global automatic number plate recognition market growth over the forecast period.
In North America, the global automatic number plate recognition (ANPR) market is predicted to dominate the market over the forecast period. Wide adoption for parking management purposes like toll collection, smart parking, and traffic surveillance, increasing adoption in technology commercial space, and rapid adoption of ANPR technology for vehicle parking is adding to the global automatic number plate recognition market growth in the region.
In the APAC region, the global automatic number plate recognition (ANPR) market is predicted to have healthy growth over the forecast period. Rapid and extended economic growth, increasing sophisticated security & surveillance technologies, and growing use of ANPR systems by law enforcement agencies are adding to the global automatic number plate recognition (ANPR) market growth in the region.
In the RoW, the global automatic number plate recognition (ANPR) market is predicted to have sound growth over the forecast period.
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Major Highlights of TOC Covers:
- Executive Summary
- Research Methodology
- Automatic Number Plate Recognition (ANPR) Market Overview
- Supply Chain Analysis
- Pricing Analysis
- Automatic Number Plate Recognition (ANPR) Market Analysis and Forecast by Type
- Market Analysis and Forecast by Application
- Automatic Number Plate Recognition (ANPR) Market Analysis and Forecast by Sales Channel
- Automatic Number Plate Recognition (ANPR) Market Analysis and Forecast by Region
- North American Market Analysis and Forecast
- Latin American Market Analysis and Forecast
- Europe Automatic Number Plate Recognition (ANPR) Market Analysis and Forecast
- Asia Pacific Market Analysis and Forecast
- Middle East & Africa Market Analysis and Forecast by
- Competitive Landscape
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR’s methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
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