Automatic Number Plate Recognition System: Global Market worth US$ 1654.4 Million in the year Growth by Top Global Leader- 3M Company, ARH Inc., COBAN Technologies, Digital Recognition Systems, Genetec Inc. and Others

Rising urbanization is expected to drive the automatic number plate recognition market at a CAGR of 12%

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.

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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Automatic Number Plate Recognition (ANPR) Market Players:

- PIPS Technology Ltd.

- Siemens AG

- COBAN Technologies

- ARH Inc.

- TattileS.r.l.

- CA Traffic Limited

- Vysionics Intelligent Traffic Solutions Ltd.

- Quercus Technologies

- Q-Free ASA

- ELSAG North America LLC

- Bosch Security Systems

- NDI Recognition Systems Ltd.

- Genetec Inc.

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Automatic Number Plate Recognition (ANPR) market based on product and application. It also provides market size and forecast till 2025 for overall Automatic Number Plate Recognition (ANPR) market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM), which is later sub-segmented by respective countries and segments. The report evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend and provides exhaustive PEST analysis for all five regions.

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Reason to Buy

- Highlights key business priorities in order to assist companies to realign their business strategies.

- The key findings and recommendations highlight crucial progressive industry trends in the Automatic Number Plate Recognition (ANPR) market, thereby allowing players to develop effective long term strategies.

- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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This release was published on openPR.