ANPR System Market Will Increase Demand, Statistics, Growth Rate In Forecast By 2027
Automatic Number Plate Recognition System Market
Size – USD 2,361.6 Million in 2020, Market Growth – at a CAGR of 9.5%, Market
Trends – Growing focus on smart city development
ANPR system is a mass surveillance system used
to read automotive license plates. ANPR technology finds application in the
detection, prevention, and disruption of crime at local, provincial, and
national levels. In addition, ANPR system is deployed by law enforcement
agencies to provide proof and lines of inquiry in the event of a crime
investigation.
The Global Automatic
Number Plate Recognition System Market report assesses the historical and
current data along with a thorough analysis of the market dynamics. The report
also sheds light on the significant market growth driving and restraining
factors that are anticipated to influence the market growth through the
forecast period.
To
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Key
Market Dynamics: The global Automatic Number Plate
Recognition System market research report details on the ongoing market trends,
development outlines, and several research methodologies. It illustrates the
key factors that directly manipulate the market, for instance, production
strategies, development platforms, and product portfolio. According to our
researchers, even minor changes within the product profiles could result in
huge disruptions to the above-mentioned factors. Each of these factors has been
elaborately discussed in the initial segment of the study.
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Some
Key Highlights From the Report
·
ANPR cameras find extensive use in pay and
display parking, maximum stay car parks, or electronic permit schemes. ANPR can
automatically read number plates of vehicles and maintain a record of entry and
exit time of vehicles and helps in issuing a parking charge notice to vehicles
for breach of terms & conditions.
·
Fixed ANPR systems offer a range of
cameras to meet the requirement of various applications. A fixed ANPR system
provides several benefits such as continuous high-traffic area surveillance,
monitoring high criminal activity areas at a safe distance, and identification
and immediate enforcement of recurrent toll violators. In fixed ANPR systems,
cameras are positioned at fixed locations, including street lights, buildings,
signboards, or highway overpasses. Moreover, fixed ANPR systems are a
cost-effective method to monitoring moving or parked vehicles.
·
ANPR system market in Asia Pacific is
expected to register fastest revenue CAGR during the forecast period,
attributed to rapid infrastructure development and increasing government
support to manage traffic congestion. Additionally, growing demand for ANPR
systems by law enforcement agencies to curb criminal activities is causative of
steady market growth in the region.
·
Key
players in the market include Siemens AG, ARH Inc.,
Neology Inc., Kapsch TrafficCom, Genetec Inc., TagMaster, Conduent Inc., Bosch
Ltd., Q-Free ASA, and Vigilant Solutions Inc.
The findings of the
report explain various aspects of the market, such as market status,
developmental prospects, key regional segments, renowned market players,
product offerings, end-use industries.
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Geographical
Terrain of the Global Automatic Number Plate Recognition System Market:
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa
The
global Automatic Number Plate Recognition System market is segmented based on
product types offered in the market, their applications, end-user industries,
different types of technologies, and key regions of the market.
·
Component Outlook (Revenue, USD
Billion; 2018–2028)
o Hardware
o Software
·
Type Outlook (Revenue, USD
Billion; 2018–2028)
o Fixed
ANPR System
o Mobile
ANPR System
o Portable
ANPR System
·
Application Outlook (Revenue, USD
Billion; 2018–2028)
o Traffic
Management
o Electronic
Toll Collection
o Law
Enforcement
o Access
Control
o Parking
Management
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Key
Questions You Asked:
·
What is the growth rate of the Automatic
Number Plate Recognition System market? What is the anticipated market valuation
of the Automatic Number Plate Recognition System industry by 2028?
·
What are the key growth driving and
restraining factors of the Automatic Number Plate Recognition System market?
·
Who are the prominent players operating in
the market? What are the key strategies adopted by these companies?
·
What are the key opportunities and growth
prospects of the Automatic Number Plate Recognition System industry over the
forecast period?
·
Which region is expected to show
significant growth in the coming years?
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