Press release
Automatic Number Plate Recognition (ANPR) System Market to Expand at 10% CAGR end of 2031|Jenoptik, Siemens, Kapsch TrafficCom, Blue Star Limited
Automatic Number Plate Recognition System Market 2022-2031
New Study Reports "Automatic Number Plate Recognition System Market 2022 Global Opportunities, Challenges, Strategies and Forecasts 2031" has been Added on MarketResearchFuture.
As per a PMR report, the global ANPR system market generated a revenue of US 2.2 Bn in 2019, and is expected to expand at an impressive CAGR of almost 10% over the forecast period (2020-2031).
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Automatic number plate recognition (ANPR) systems can detect, recognize, and analyze vehicles. The video analytics software built into recognition technology also monitors in real-time, without distraction, and adds significant advantages in live-monitored and incident analysis operations. Video analytics allows improving operational performance and increased monitoring. Also, video analytics motion detection can be used to record onsite and general vehicle movement, improve security for operators and users, provide road rule enforcement, and facilitate automated control of vehicle barriers, gates, and bollards. Increasing number of vehicle thefts is also boosting the growth of the automatic number plate recognition (ANPR) system market.
Key Players:
The report has profiled some of the Important players prevalent in the global like – Jenoptik, Siemens, Kapsch TrafficCom, Blue Star Limited, Sensys Gatso, Bosch Security Systems, Inc., Genetec Inc., PlateSmart Technologies, Vaxtor Technologies, AllGoVision Technologies Pvt. Ltd, Amplicon Liveline, RoadPixel, titanHz, Tattile s.r.l., Tensor plc, A&H Software House, Inc. (Luxriot), ARH Inc., Globe Protection Ltd., CathexisVision, CARRIDA Technologies and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Automatic Number Plate Recognition System.
Key Takeaways from ANPR System Market Study
The ANPR software segment is expected to gain significant share in the automatic number plate recognition system market, due to increasing automation parking.
ANPR applications recognize and detect vehicle numbers automatically when they are in view of CCTV cameras, which drives market growth.
The mobile ANPR sensors segment is expected to hold a prominent share in the automatic number plate recognition system market, owing to increased demand for mobiles to identify and tag vehicle citation for expired parking.
Increasing adoption of (ANPR systems in commercial vehicle parking is anticipated to result in significant dominance of North America in the automatic number plate recognition system market.
With COVID-19-related lockdowns and restrictions in place, increased need to monitor traffic, people, and various locations is leading to heightened demand for ANPR systems.
“With increasing adoption of ANPR cameras for smart cities for parking management and traffic surveillances, demand for ANPR systems is increasing rapidly. These systems are used for vehicle identification, faster traffic management, smart parking, and prevention of car thefts, all of which would drive market growth over the coming years,” says a PMR analyst.
Technological Advancements in Traffic Surveillance to Boost Market Growth
Adoption of ANPR systems is increasing for traffic surveillance, as these systems are used for measuring speed, and are capable of detecting traffic violations as well. ANPR cameras are primarily used for identifying stationary vehicles and capture license plate information of moving vehicles up to a speed up to 200 km/hr. ANPR cameras can also detect traffic offenses such as wrong-side directions, solid lane crossing, red light crossing, not using safety belts, exceeding speed limits, and much more.
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Key Stakeholders
Automatic Number Plate Recognition System Market Manufacturers
Automatic Number Plate Recognition System Market Distributors/Traders/Wholesalers
Automatic Number Plate Recognition System Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Major Highlights of the Automatic Number Plate Recognition System Market Report:
The Automatic Number Plate Recognition System Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
The report dives deeper into the market and explains the dynamic factors bolstering market growth.
The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
The report analyzes the Automatic Number Plate Recognition System Market presence across major regions of the world.
It determines the production & consumption capacities and demand & supply dynamics of each regional market.
The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
It provides company overview and SWOT analysis of each of the market players.
Key Questions Answered in This Report.
What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
If you have any special requirements, please let us know and we will offer you the report as you want and also We Provide you Table of Content.
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PersistenceMarketResearch is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
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