Automatic Number Plate Recognition Market Growth Prospects and Forecast 2027Posted by sneha patil on March 9th, 2022 Market Analysis The automatic number plate recognition market will touch USD 1,100 million at a healthy CAGR between 2017- 2023, as per the Market Research Future (MRFR) analysis. Automatic number plate recognition or ANPR, simply put, is a powerful technology that is used for accurately reading vehicle number plates sans human intervention. Various factors are propelling the ANPR Market growth. As per the MRFR report, such factors include the need to deploy cameras for surveillance and security, the need to deploy traffic enforcement applications, infrastructure growth in emerging economies, advances in digital cameras & recognition devices, and developments in the processing technologies. Additional factors adding market growth include the booming automotive sector, increasing focus by government agencies to develop integrated UAVs for the development of city-wide ANPR network, and favorable government initiatives such as traffic management systems and intelligent transportation systems. On the contrary, inaccuracy and false-positive readings, coupled with the impact of the current COVID-19 pandemic, may deter the global Automatic Number Plate Recognition Market growth over the forecast period. Key Players Key players profiled in the global automatic number plate recognition (ANPR) market report include Genetec Inc, Vigilant Solutions, Conduent Inc., Leonardo Company, Siemens AG, Bosch Group, Jenoptik Group, Neology, Inc., Tattile SRL, and Kapsch TrafficCom AG, among others. Get Complete Report @ https://www.marketresearchfuture.com/reports/automatic-number-plate-recognition-market-7763
Market Segmentation The Market Research Future Report highlights an inclusive segmental analysis of the global automatic number plate recognition market based on type, component, application, and end user. By type, the automatic number plate recognition market is segmented into portable ANPR systems, fixed ANPR systems, and mobile ANPR systems. Of these, the fixed ANPR systems type segment will lead the market over the forecast period. By component, the automatic number plate recognition market is segmented into ANPR software, frame grabbers, triggers, ANPR cameras, and others. Of these, the ANPR software segment will dominate the market over the forecast period. By application, the automatic number plate recognition market is segmented into access control, parking management, electronic toll collection, law enforcement, and traffic management. Of these, the law enforcement application segment will spearhead the market over the forecast period. By end user, the global automatic number plate recognition market is segmented into homeland security, defense, government, and commercial. Of these, the government segment will stay at the forefront in the market over the forecast period. Regional Analysis By region, the global automatic number plate recognition (ANPR) market covers the market opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, Europe is predicted to have the lions share in the market over the forecast period. It is likely to grow at a 10.5% CAGR. Growing adoption of ANPR in Netherlands, France, the UK, and Germany and increasing public infrastructure & highways are adding to the global automatic number plate recognition market growth over the forecast period. In North America, the global automatic number plate recognition (ANPR) market is predicted to dominate the market over the forecast period. Wide adoption for parking management purposes like toll collection, smart parking, and traffic surveillance, increasing adoption in technology commercial space, and rapid adoption of ANPR technology for vehicle parking is adding to the global automatic number plate recognition market growth in the region. In the APAC region, the global automatic number plate recognition (ANPR) market is predicted to have healthy growth over the forecast period. Rapid and extended economic growth, increasing sophisticated security & surveillance technologies, and growing use of ANPR systems by law enforcement agencies are adding to the global automatic number plate recognition (ANPR) market growth in the region. In the RoW, the global automatic number plate recognition (ANPR) market is predicted to have sound growth over the forecast period. About Us: Market Research Future (MRFR) is a reliable firm that undertakes an extensive analysis of markets in various domains. Our teams of research analysts gather relevant data through painstaking primary and secondary research that aims to give clients a complete outlook on markets of their interest. The data is compared against third-party agencies and reputed organizations for estimating valuations and revenue projections. MRFR’s goal in providing a comprehensive coverage of the market replete with latest trends, niches, developments, and insights can be lucrative for business needs. We aim to push our clients to the forefront by guiding them with astute information for making informed decisions. Our market intelligence can track down key issues in industries and be modified as per the fluctuations in economic scenarios. The reports are customized and offered as per a specific region or country and adhere to latest policies. Media Contact: Market Research Future (Part of Wantstats Research and Media Private Limited) 99 Hudson Street, 5Th Floor New York, NY 10013 United States of America +1 628 258 0071 (US) +44 2035 002 764 (UK) Email: sales@marketresearchfuture.com Like it? Share it! More by this author |