Rising concern regarding security & surveillance, and traffic management applications will be major driving factor for growth in the Automatic Number Plate Recognition market between 2016 and 2025. —
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The ANPR Market is US$ 643.1 million in 2016 and is estimated to reach US$ 1654.4 million by 2025. The ANPR market has experienced high growth and adoption rate in the last few years and is also expected to experience a significant growth and adoption rate in years to come. One of the major reasons for high adoption of ANPR are increasing concern regarding public safety. Increasing crime activities have made it necessary for the law enforcement to choose a better method for surveillance and security and therefore ANPR technology is used to traffic and monitor any illegal activity and determine the convict. Also, ANPR technology also provides advanced analytical application, which widens the range of surveillance technologies. Furthermore, increasing use of ANPR technologies at toll-booths for a smoother traffic flow will also drive the market for ANPR in the coming years.
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The ANPR market is further segmented on the basis of application, system type and end-user, across five major geographical regions. The different applications of ANPR that are covered in this report include Vehicle Parking, Traffic Management, Security & Surveillance and Toll Enforcement.
The types of systems of ANPR have been broadly categorized into following three categories as Mobile, Portable ANPR, and Fixed ANPR systems. The end-users using these technology for various uses are Government and Commercial. Five major geographical regions considered within the scope of this market are North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM).
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Some of the major players influencing ANPR market are 3M Company, Siemens AG and ARH, Inc. Also, Coban Technologies, Inc. Digital Recognition Systems, Ltd. and Genetec Inc. are other key companies in the ANPR market. Many companies are investing in ANPR owing to the potential improvements related to accuracy, operational efficiency and better surveillance & security thereby, helping them to enhance customer retention rate and compete efficiently in the market.
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Name: Sameer Joshi
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Release ID: 228129