Global Automatic Number Plate Recognition System Market: Industry Analysis and forecast (2019 to 2026):
Global Automatic Number Plate Recognition System Market was valued USD XX Bn in 2019 and is expected to reach US$ 5.85 Bn by 2026, at CAGR of XX% during forecast period of 2019 to 2026.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region
Global Automatic Number Plate Recognition System Market Drivers and Restrains:
Traffic control and vehicle owner identification has become a major problem in every country. Sometimes it becomes difficult to identify vehicle owners who break traffic rules and drives too fast. So, it is not possible to catch and punish those people instantly by traffic workforce. Therefore, there is a need in developing an Automatic Number Plate Recognition (ANPR) system, which can solve this problem. There are several ANPR systems available today.
Image processing technology and Optical Character Recognition (OCR) system is used for reading the image of the vehicles number plates. For example, Dutch vehicle registration plate’s format was changed to a different style in 2002, one of the changes made was to its font style. Number Plate Recognition system is used for toll way authorities, where system itself allowing the vehicle to enter the toll road by detecting their number plate and providing them with pay-slip automatically, without any human interaction. Parking authorities also use this system for security and organized vehicle parking. Firstly, system capture the image of the number plate then process it and read each and every character present in the number plate for their perfect recognition. The most significant phase is OCR, where the letterings on the image of number plate are changed into the texts which can be decoded later.
These systems are based on different methods but still it is really challenging task as some of the factors like non-uniform vehicle number system or style.
Manufacturers in the automatic number plate recognition system are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.
Global Automatic Number Plate Recognition System Market Segmentation Analysis:
Based on type, the fixed ANPR system segment held the highest market in 2018 and the trend is anticipated to continue beyond 2019. It is expected, that the segment will exhibit an impressive growth in the forecast period. Fixed ANPR system is popular in many types of outdoor and indoor premises, they are usually mounted on street lights, buildings, signboards, etc. The portable ANPR system segment holds the second position and is expected to grow at the largest CAGR of XX% during the forecast period.
By application, the segment is expected to grow at the largest CAGR of XX% during the forecast period, its increasing usage in securing at public venues like sporting events, conventions, and concerts. Meanwhile, the electronic toll collection segment is projected to capture the highest CAGR during the forecast period.
The government segment commanded close to two-third share of the market. Moreover, the segment is expected to witness a CAGR of XX% during the forecast period and surpass a valuation of USD 700 million by the year 2023. These ANPR systems are used for law enforcement by government authorities. ANPR systems help in traffic surveillance and tracking down suspected license plates. It also helps in identifying stolen cars, which are blacklisted.
Global Automatic Number Plate Recognition System Market Regional Analysis:
Region-wise, the Asia Pacific region comprises of several developing countries such as China, Japan, South Korea, and India are witnessing a high growth in their population, further generating high demands for better civic amenities in the region. The automatic number plate recognition market in Asia Pacific has been witnessing major growth owing to increased use of connected devices and industrialization. Australia leads the automatic number plate recognition system deployments whereas, China, South Korea accounted for the second-largest share of automatic number plate recognition market in terms of revenue in the APAC region with plenty of smart initiatives being taken in the ANPR & ITS industry. These factors are expected to further boost the demand for automatic number plate recognition in the APAC region.
A report covers the recent development in market for automatic number plate recognition system like in 2017 Q-Free is engaged in its third Australian Cooperative ITS (C-ITS) project, with the Queensland Department of Transport and Main Roads (TMR).
The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding Global automatic number plate recognition system market dynamics, structure by identifying and analyzing the market segments and projecting the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence. To understand the market dynamics and by region, the report has covered the PEST analysis by region and key economies across the globe, which are supposed to have an impact on market in forecast period. PORTER’s analysis, and SVOR analysis of the market as well as detailed SWOT analysis of key players has been done to analyze their strategies. The report will to address all questions of shareholders to prioritize the efforts and investment in the near future to the emerging segment in the Global automatic number plate recognition system market.
Scope of the Global Automatic Number Plate Recognition System Market:
Global Automatic Number Plate Recognition System Market, by Type:
• Fixed ANPR Systems
• Mobile ANPR Systems
• Portable ANPR Systems
Global Automatic Number Plate Recognition System Market, by Component:
Global Automatic Number Plate Recognition System Market, by Application:
• Traffic Management
• Law Enforcement
• Electronic Toll Collection
• Parking Management
• Access Control
Global Automatic Number Plate Recognition System Market, by End User:
• Homeland Security
• Traffic Department
• Entertainment & Recreation Facilities
• Dedicated Car Parks
Global Automatic Number Plate Recognition System Market, by Region:
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Global Automatic Number Plate Recognition System Market, Major Players:
• 3M Co
• Q-Free ASA
• ARH Inc.
• Vigilant Solutions Inc.
• NDI Recognitions Systems Ltd.
• Elsag North America LLC
• CA Traffic Ltd.
• Captec Ltd.
• ClearView Communications
• COBAN Technologies Inc
• DTK Software
• FLIR Systems
• Gtechna Inc.
• Digital Recognition Systems Ltd.
• Kapsch TrafficCom AG
• Conduent, Inc.
• Siemens AG
• Neology, Inc.
• Bosch Security Systems GmbH
• Tattile srl
• TagMaster North America, Inc
• Euro Car Parks Limited
• Quercus Technologies
• Vigilant Solutions, Inc.
• FF Group
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Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
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