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Automatic Number Plate Recognition Market Exponential CAGR of 12% during the Forecast Period 2016 -2025
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The Automatic Number Plate Recognition market is growing at an exponential CAGR of 12% and is expected to reach US$ 1654.35 Mn in 2025.
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21st century has witnessed a lot of changes in the business models and standard of living of people. Emerging economies are striving their best to compete with already developed economies of the world. The biggest challenge faced by the world today is rising urban population. As per the statistics, 35% of the world population resides in the urban areas while the rest still reside in the rural areas. Rising urban population has given rise to many sorts of pressures on the environment. Increasing traffic congestions is the biggest challenge in the urban cities and the use of tools required to ensure smooth traffic flow is thus on the rise. ANPR cameras enable faster processing of vehicles on toll booths or are used to communicate the optimal route to the driver with the use of IoT technology. Their contribution towards reducing traffic is immense as is towards reducing air pollution and hence there is a huge demand for these tools by end-users.
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Global Automatic Number Plate Recognition (ANPR) Market Revenue and Forecasts to 2025 – Geographical Analysis
North America
Europe
Asia pacific (APAC)
Middle East and Africa (MEA)
South America (SAM)
The report segments the global Automatic Number Plate Recognition market as follows:
Global Automatic Number Plate Recognition Market – By Application
Vehicle Parking
Traffic Management
Security & Surveillance
Toll Enforcement
Global Automatic Number Plate Recognition Market – By System Type
Mobile
Portable ANPR
Fixed ANPR
Global Automatic Number Plate Recognition Market – By End-Use Industry
Government
Commercial
Global Automatic Number Plate Recognition Market – By Geography
North America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
U.K
Asia Pacific (APAC)
Japan
China
India
Australia
Middle East & Africa (MEA)
Saudi Arabia
South Africa
UAE
South America (SAM)
Brazil
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