Automatic Number Plate Recognition Market: Growing Demand from Government Sector to Boost Market Expansion at 12.8% CAGR

Automatic number plate recognition or ANPR is a surveillance system used to capture the image of vehicles and identify their licence numbers. ANPR systems comprise high-speed cameras with IR filters, application software, processors for optical character recognition, user interface, and an alert capability. The global automatic number plate recognition market is anticipated to expand at a CAGR of 12.8% during the period between 2015 and 2023. The overall market is estimated to be worth US$1.4 bn by 2023.

Parking Management and Tolling applications to Boost Global Automatic Number Plate Recognition Market

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Growing adoption of automatic number plate recognition systems for traffic enforcement and management, along with rising demand for superior security in the public sector, has boosted the growth of the global automatic number plate recognition market. More investments and economic growth of emerging markets in APAC region have further fuelled the market growth.

However, the overall market is expected to be restrained by non-uniformity in license plate design and language constraints as well as increasing intrusion on the privacy of the population. The market has a huge opportunity to grow with increasing adoption of automatic number plate recognition in parking management and tolling applications.

Government Sector to Drive Demand from Global Automatic Number Plate Recognition Market

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In terms of application, the global automatic number plate recognition market has been segmented into security and surveillance, traffic management, vehicle parking, and toll enforcement. In traffic management applications, automatic number plate recognition is used for congestion charging, speed enforcement, and red light control. Vehicle parking application is the most promising segment and is estimated to increase demand from the market due to growing adoption of automatic number plate recognition in parking toll collection and parking management.

On the basis of end users, the global automatic number plate recognition market has been categorized into government and commercial. The government sector has been further segmented into traffic department, homeland security, and defence. The commercial sector has been sub-segmented into entertainment and recreation facilities, and dedicated car parks. In 2014, the government sector accounted for 76% of the global automatic number plate recognition market.

Europe Dominates Global Automatic Number Plate Recognition Market

Geographically, the global automatic number plate recognition market has been segmented into five key regions: North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In 2014, Europe was the largest market and is anticipated to continue its dominance during the period between 2015 and 2023. Extensive applications of automatic number plate recognition across European countries have propelled the growth of the market in the region. Europe and North America together accounted for more than half of the revenue generated by the market in 2014.

Key Players in Global Automatic Number Plate Recognition Market

The global automatic number plate recognition market is highly fragmented. Some of the key players in the market are Digital Recognition Systems Ltd., ARH Inc., ELSAG North America LLC, Q-Free ASA, NDI Recognition Systems Ltd., Vigilant Solutions Inc., Siemens AG, Genetec Inc., PIPS Technology Ltd., Bosch Security Systems, COBAN Technologies, Tattile S.r.l., CA Traffic Limited, Quercus Technologies, and Vysionics Intelligent Traffic Solutions Ltd.

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Suite 700,
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United States
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Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

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