Automatic Number Plate Recognition System Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024
Overcrowded roads in the city have put an immense pressure on the civic bodies to develop technologically advanced solutions to deal with the problem; hence, the concept of automatic number plate recognition systems has been introduced. This system will offer healthy expansion due to benefits it offers and restricts a number of road accidents. The government is also taking initiation for the reorganization of criminals through number plates of their vehicles. Increasing awareness regarding traffic enforcement rules, regulations, and improved surveillance techniques have the high impact on this market.
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Global Automatic Number Plate Recognition System Market: Growth Factors
Company players are focusing on product innovation and adopting new technology to remain competitive in the global automatic number plate recognition system market. Automatic number plate recognition system is largely adopted in the government sector contributing for the largest market share. Various end-users such as defense, homeland security, traffic department, and others have extensively used this system for improved security. In addition, it is adopted in the public parking authorities, and police departments, which is expected to boost the global automatic number plate recognition system market growth. However, this system is widely accepted in the commercial sectors due to increasing number of multiplexes, public utility spaces, and shopping malls that require improved security solutions to protect against any rising terror attacks. This is anticipated to drive the global market in future.
Global Automatic Number Plate Recognition System Market: Segmentation
The global automatic number plate recognition system market is fragmented based on end-user as traffic department, commercial, dedicated car parks, government, defense, entertainment and recreation facilities, and homeland security. Based on applications, the global market is classified as red light control, vehicle parking, security and surveillance, toll enforcement, and traffic management.
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Global Automatic Number Plate Recognition System Market: Regional Analysis
The global automatic number plate recognition system market is categorized based on geography as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Europe is the leading region in the global market growth due to increasing awareness about an automatic number plate recognition system. In addition, this region is considered home to the technological innovations, which is anticipated to contribute to the global market growth in future. Stringent traffic regulations are implemented by the governments to improve the road safety in this region, thus propelling the global automatic number plate recognition system market growth. Implementation of the automatic number plate recognition system can be seen in the countries such as Germany, the U.K., France, and Italy.
Global Automatic Number Plate Recognition System Market: Competitive Players
Key players operating in the global overall automatic number plate recognition system market are PIPS Technology Ltd., NDI Recognition Systems Ltd., Siemens AG, Vigilant Solutions Inc., and Genetec, Inc. Other players influencing the global market are Q-Free ASA, Vysionics Intelligent Traffic Solutions Ltd., Bosch Security Systems., and Tattile Srl.
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Global Automatic Number Plate Recognition System Market: Regional Segment Analysis
Middle East and Africa
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