Research Nester published a report titled “Automatic Number Plate Recognition (ANPR) System Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the ANPR systems in terms of market segmentation by type, component, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global automatic number plate recognition (ANPR) system market is estimated to garner approximately USD 7 Billion in revenue by 2031 by growing at a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to increasing deployment of ANPR systems for security and surveillance, and traffic management applications. The market is segmented by type into mobile ANPR systems, portable ANPR systems, fixed ANPR systems, out of which, the fixed ANPR systems segment is anticipated to hold the largest market share over the forecast period.
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Geographically, the global ANPR system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, Europe is expected to hold the dominating share in the market. Additionally, the market in Asia-Pacific is estimated to witness fastest growth during the forecast period.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Deployment of ANPR Systems for Security and Surveillance Purposes to Boost Market Growth
Technological innovation towards smart-vehicles and their wide adoption are revolutionizing different aspects of intelligent transportation systems. Automatic number plate recognition (ANPR) systems have become a part of our lives, offering many possibilities of changing fundamental transportation systems. Their ability to quickly and automatically read and analyze vehicle number plates without any human intervention is significantly contributing towards smart transportation systems. Increasing deployment of ANPR systems for security and surveillance, and traffic management applications, and increasing initiatives by governments for the development of smart cities are expected to drive the growth of the market during the forecast period.
However, the inaccuracy and misinterpretation by these systems for unclear characters on the number plate, and data privacy concerns that provide less assurance on the security of the data captured and stored are expected to operate as barriers to the growth of global ANPR system market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global automatic number plate recognition (ANPR) system market which includes company profiling of Kapsch TrafficCom AG, Siemens Mobility Global, Bosch Security Systems Ltd., Q-Free ASA, Genetec Inc., Conduent, Inc., Motorola Solutions, Inc., Axis Communications AB, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ANPR system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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The report "ANPR System Market with COVID-19 Impact Analysis by Type (Fixed, Mobile, Portable), Application (Traffic Management, Law Enforcement, Electronic Toll Collection, Parking Management, Access Control), Component, and Geography - Global Forecast to 2025", is expected to grow from USD 2.3 billion in 2020 to USD 3.8 billion by 2025, at a CAGR of 10.0%.
The market growth can be attributed to several factors, such as the deployment of ANPR systems in security and surveillance, and traffic enforcement applications, infrastructure growth in emerging economies, increasing allocation of funds by various governments for ITS, and so on.
Browse 130 market data Tables and 58 Figures spread through 185 Pages and in-depth TOC on "ANPR System Market with COVID-19 Impact Analysis by Type (Fixed, Mobile, Portable), Application (Traffic Management, Law Enforcement, Electronic Toll Collection, Parking Management, Access Control), Component, and Geography - Global Forecast to 2025"Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=140920103Fixed ANPR systems to account for the largest share of ANPR system market by 2025Based on the type, the ANPR system market has been divided into fixed, mobile, and portable.
Fixed ANPR system held the highest share in 2019.
Mobile ANPR systems are widely used in police and law enforcement agencies to ensure proper security and surveillance.Traffic management application to dominate the market during forecast periodOn the basis of applications, the market is categorized into traffic management, law enforcement, electronic toll collection, parking management, and access control.
The increasing adoption of vehicles and stringent government regulations for implementing electronic toll collection systems is driving the growth of the ANPR system market.Europe is leading the market for ANPR system in 2019Europe held the largest share in the ANPR system market in 2019.
The global Automatic Number Plate Recognition Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Automatic Number Plate Recognition include Siemens AG, Tattile SRL, Vigilant Solutions, Leonardo Company, Jenoptik Group, Kapsch TrafficCom AG, Financial Overview, Genetec Inc., Neology Inc., Bosch Group, Genetec Inc, and Conduent Inc..
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Automatic Number Plate Recognition Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/automatic-number-plate-recognition-market/download-sampleMarket SegmentationThe broad Automatic Number Plate Recognition has been sub-grouped into the Type, Component , Application and Region.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
