Automatic Number Plate Recognition (ANPR) Market Opportunity Assessment, Market Challenges, Key vendor analysis, Vendor landscape by 2027
Automatic Number Plate Recognition (ANPR) system is a useful approach for vehicle surveillance, which is used in intelligent transportation system. ANPR uses an advanced machine vision technology to recognize vehicles by their number plates without intervention of human. The adoption ANPR technology continues to gain momentum in the market. ANPR technology tends to be region-specific, owing to variation in number plate from one place to other.
The Global Automatic Number Plate Recognition market is expected to grow from US$ 669.17 Mn in 2017 to US$ 1,654.35 Mn by 2025 at a CAGR of 12.0% between 2017 and 2025.
The Automatic Number Plate Recognition (ANPR) Market is expected to exhibit high growth in near future across the globe, some of the major driving factors contributing the growth are rising acceptance of smart parking concept in developed as well as developing countries and infrastructure growth in emerging countries. However, development of shared platform for exchange of data from distinct sources and technological advancements some of future trends of automatic number plate recognition market during the forecast period.
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The key companies profiled in this report include 3m Company, ARH, Inc., COBAN Technologies, Inc., Digital Recognition Systems, Ltd., Genetec, Inc., Jenoptik AG, Q-Free ASA, Siemens AG, Tattile S.R.L, nd Vigilant Solutions.
Europe holds the largest market share followed by North America. The major driving factor for aggressive implementations of Automatic Number Plate Recognition in Europe can be attributed to the rising urbanization, demand for high end converged traffic systems and various commission led initiatives taken by the European government. The European Commission’s traffic management plan strategy focused towards regulation of policies at cross border levels increase the opportunities for Intelligent Transportation Systems implementations. Furthermore, the Commission has adopted Cooperative Intelligent Transport Systems strategy with a view to facilitate investments and regulatory frameworks on a common platform across the entire European continent.
The global market for automatic number plate recognition has been segmented on the basis of application into four major segment including vehicle parking, traffic management, security & surveillance and toll enforcement. Each application area of automatic number plate recognition uses different system type and is designed to fulfil varied end-users demand. Key end-user verticals of this market are, commercial areas and Government. Government sector is the largest end-user segment with development of intelligent transportation system and smart parking in the area of traffic management, highway toll collection, borders and custom security, premises where high security is required. Commercial segment will have highest growth rate the forecast period.
GLOBAL AUTOMATIC NUMBER PLATE RECOGNITION – MARKET SEGMENTATION
- Vehicle Parking
- Traffic Management
- Security & Surveillance
- Toll Enforcement
By System Type
- Portable ANPR
- Fixed ANPR
- North America
- Asia Pacific (APAC)
- Rest of APAC
- Middle East & Africa (MEA)
- South Africa
- South America (SAM)
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