Automatic Number Plate Recognition Market to reach Worth of US$4674.0 Mn by 2025
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Top players operating in the global automatic number plate recognition market include Viion Systems Inc., Siemens AG, Genetec, Inc., Vigilant Solutions, Q-Free ASA, Vaxtor Technologies, Bosch Security Systems, Inc., ELSAG North America LLC, ARH, Inc., Digital Recognition Systems, Ltd., and NDI Recognition Systems LLC.
The global automatic number plate recognition market stood at US$2013.5 million in 2016 and is projected to rise at a promising CAGR of 11.1% from 2017 to 2025. Expanding at this pace, the market will touch a valuation of US$4674.0 million by the end of forecast period.
The various end users of ANPR are government and commercial, of which the former is sub-segmented into mainly homeland security, traffic department, and defense. Of the two, the government sector currently leads and held a major share of 70% of the global market in 2016. The proliferating demand for ANPR technologies in various government sectors account for its dominance. Geographically, Europe holds the sway and held a major share of 35.0% in the global market in 2016. The dominance of the regional market can be attributed to an extensive uptake of ANPR systems for effective traffic management.
Vast Deployment of Technology for Security and Surveillance by Government Sector Accentuate Growth
The drive for automatic number plate recognition technology and systems stems from the need for an efficient and automatic vehicle identification system based on its number plate. The substantial benefits of ANPR in the area of security and surveillance, parking management, toll enforcement, and traffic enforcement is a notable factor accentuating the market. The adoption of such automatic technologies for keeping a strict vigil on illegal activities by the transport departments of various countries is propelling the growth of the ANPR market.
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Privacy and Limited Competence of Technology Key Concerns
The surge in investment of government and commercial institutions on advanced surveillance system is also providing a robust base for the expansion of the market. In addition, stringent implementation of regulations for vehicle driving in emerging nations is providing a robust boost to the market. However, the use of ANPR systems has raised spiraling concerns among law-abiding citizens who consider the technology as undue intrusion of their privacy at the cost of security. Moreover, the non-uniformity of number plate design tends to reduce the utility and performance of ANPR systems. Nevertheless, creating more awareness about the benefits of ANPR and keeping appropriate controls in place may do well to allay these concerns over the years.
Furthermore, the vastly rising demand for ANPR systems in commercial sector and the rapid deployment of installation technology in vehicle parking application are noteworthy trends expected to unlock lucrative avenues in the global market.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Automatic Number Plate Recognition (ANPR) Market (Application - Security & Surveillance, Vehicle Parking, Traffic Management, and Toll Enforcement; End User – Government (Homeland Security, Traffic Department, and Defense) and Commercial (Entertainment and Recreation Facilities (Shopping Centers and Multiplexes) and Dedicated Car Parks); Component – Hardware (ANPR Cameras, Frame Grabber, Illuminators, and Sensors) and Software) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2025.”
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About Automatic Number Plate Recognition Automated number plate recognition (ANPR) system is an OCR system, which is implemented using cameras and software to analyze the captured pictures. ANPR can either be installed on fixed polls or on cars for mobile surveillance. ANPR is widely being adopted by government sector for law enforcement, toll management, and traffic management. It is being deployed in commercial spaces for parking management. Request Sample At: https://www.researchbeam.com/global-automatic-number-plate-recognition-anpr-2017-2021-market Research Beam