Automatic Number Plate Recognition (ANPR) Market to Witness High Growth on Account of Growing Investments by Governments

MarketResearchReports.biz have announced the addition of a new report which is titled, “Automatic Number Plate Recognition (ANPR) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”In today's world, the automatic number plate recognition is known to be of great use and benefit in the field of traffic enforcing, security and surveillance, and toll enforcing. In order to ensure improved road safety, the transport department takes strict measures in every sector mentioned above. This has ended up in the high penetration of automatic number plate recognition systems in the sectors of traffic enforcements as well as security and surveillance applications throughout the globe. Plus, this market is continuously growing because of the growing need for enhanced security in the public sector.

Additionally, the growing investments by the government as well as the commercial segments will make an atmosphere that will help this market to expand in the years to come. For example, the Government of India in the process of introducing a new road transport and safety bill, that will also have CCTV cameras installed at all traffic signals, setting up 5000 centres throughout the country for the purpose of providing driving licences on the basis of computer based tests a compulsory procedure. Although, these rules may sound stringent, but they are predicted to bolster the application of automatic number plate recognition systems in India. In 2016, more than 2000 automatic number plate recognition technology enabled CCTV cameras embedded with infrared night vision abilities were put in to use at major junctions.

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A great number of security agencies as well as police departments make the use of automatic number plate recognition systems throughout the world, so as to improve the security in the concerned regions. The ANPR technology is also used widely for traffic management. The application of automatic number plate recognition technology has considerably reduced human intervention and therefore provides cost related benefits. However, problems like invasion of privacy as well as the different designs in the number plates is hampering the growth of this market. Nevertheless, in the years to come the demand from the commercial sectors is predicted to grow because of the growing installations in vehicle parking application that will provide sufficient growth opportunities.

Among end users, the government segment dominated with more than 70% share in the market in the year 2016. The growing demand for ANPR from defence, Homeland security, traffic as well as other government departments has boosted the growth opportunities for the government sector in the global ANPR market. Currently, Europe is dominating global automatic number plate recognition market with 35% of the share.

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In an extremely fragmented vendor landscape, companies are currently aiming to make advanced ANPR solutions with integrated automatic number plate recognition systems and enhanced reading abilities so as to make their market positions stronger. The Global automatic number plate recognition market is projected to face stiff competition in the automatic number plate recognition engine manufacturing. Apart from this, the competition between component manufacturers and the system integrators is predicted to continue to be high in the years to come, and the market competitors are also expanding their footprints in the regions like India, Philippines, Malaysia and China as Automatic Number Plate Recognition is predicted to be more widely used in these countries in the years to come. Strategies used by these companies to retain their dominance might boost the growth or might create bottlenecks for the automatic name plate recognition market, nevertheless, they are predicted to have an important influence on its growth trajectory.

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