The automatic number plate recognition market is expected to exhibit high growth in near future across the globe, some of the major driving factors contributing the growth are rising acceptance of smart parking concept in developed as well as developing countries and infrastructure growth in emerging countries. However, development of shared platform for exchange of data from distinct sources and technological advancements some of future trends of automatic number plate recognition market during the forecast period.
The emergence of Automatic Number Plate Recognition concept was mainly focused upon monitoring the vehicles. Various countries of the world face crimes of several types and vehicular based crimes were on the rise due to ease of escape through vehicles. Curbing of such crimes had become necessary and hence the use of ANPR systems integrated into the security systems have proved to be of great use. Also, Governments around the world have laid down various regulations regarding the speed limits and car ownerships with a view to control traffic congestion problems and air pollution problems especially in metropolitan areas. Thus, keeping a check on these regulations is well supported with the use of ANPR cameras and as a result their market is witnessing traction in adoptions.
The Asia Pacific region comprises of several developing countries such as China, Japan, South Korea, and India are witnessing a high growth in their population, further generating high demands for better civic amenities in the region. The automatic number plate recognition market in Asia Pacific has been witnessing significant growth owing to rising use of connected devices and industrialization. Australia leads the automatic number plate recognition system deployments whereas, China, South Korea accounted for second largest share of automatic number plate recognition market in terms of revenue in APAC region with plenty of smart initiatives being taken in the ANPR & ITS industry. These factors are anticipated to further propel the demand for automatic number plate recognition in APAC region.
New product development was observed as the most adopted strategy in global automatic number plate recognition market. Few of the recent strategies by some of the players in automatic number plate recognition market landscape are listed below:
2017:The 3M company unveiled ‘revolutionary’ ANPR camera
2017:Siemens completed deployment of permanent average speed enforcement system across London.
2017:Q-Free is engaged in its third Australian Cooperative ITS (C-ITS) project, with the Queensland Department of Transport and Main Roads (TMR).
2017:Q-Free’s Intrada Automatic Licence Plate Recognition (ALPR) technology is certified to work with software from US company C2P.
The regional trends and factors influencing the Automatic Number Plate Recognition (ANPR) Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automatic Number Plate Recognition (ANPR) Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2017 | US$ 669.17 Million |
| Market Size by 2025 | US$ 1,654.35 Million |
| Global CAGR (2017 - 2025) | 12.0% |
| Historical Data | 2015-2016 |
| Forecast period | 2018-2025 |
| Segments Covered |
By Application
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Automatic Number Plate Recognition (ANPR) Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Automatic Number Plate Recognition (ANPR) Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies
1. 3m Company
2. ARH, Inc.
3. COBAN Technologies, Inc.
4. Digital Recognition Systems, Ltd.
5. Genetec, Inc.
6. Jenoptik AG
7. Q-Free ASA
8. Siemens AG
9. Tattile S.R.L
10. Vigilant Solutions