Albany NY, United States, May 18, 2022 (GLOBE NEWSWIRE) -- A research report by Transparency Market Research (TMR) expects the global automatic number plate recognition market to expand at a CAGR of 9% during the forecast period, 2020 to 2030.
Due to rising adoption of technological advancements such as e-challan in many developing nations, including India, leading automatic number plate recognition companies are focused on strengthening their production capabilities in surveillance products needed at toll gates. Such products are in high demand, as they assist toll authorities in sending a bill to car associates for non-compliance of different regulations. Such factors are influence future trends of the automatic number plate recognition (ANPR) market.
Companies operating in the automatic number plate recognition (ANPR) market are increasing investments in R&Ds. Such efforts are resulting in the development of portable automatic number plate recognition systems. Furthermore, innovative products developed by manufacturers are providing video as well as still footage of car associates. These benefits of automatic number plate recognition systems are propelling the automatic number plate recognition (ANPR) market.
The ANPR industry is observing a notable transformation in the recent years, owing to a rise in the adoption of automation across the globe. Manufacturing facilities across the globe are increasing inclination toward providing access to only authorized vehicles in order to avoid malicious criminal activities. These factors are resulting in growing demand for ANPR systems globally. Moreover, major companies operating in the global automatic number plate recognition (ANPR) market are focusing on the introduction of innovative ANPR-integrated parking ticketing systems using advanced technologies such as cognitive and artificial intelligence, notes a TMR study.
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Automatic Number Plate Recognition (ANPR) Market: Key Findings
- ANPR systems are being increasingly adopted in modern cities across the globe, as these systems help in improving security and law enforcement measures. Moreover, these devices are also being utilized to identify terrorists and criminals in cities. Hence, players in the global automatic number plate recognition (ANPR) market are focusing on strengthening their production capabilities in these products order to cater to the rising demands from the urban cities.
- With the latest ANPR systems, the task of recording number plates of individuals can be performed automatically. Hence, traffic control authorities of many nations across the globe are increasing inclination toward the incorporation of advanced ANPR systems in order to address rising issues pertaining to over-speeding on highways, which has turned out to be one of the intense threats to the public safety. This factor is estimated to boost the sales growth in the automatic number plate recognition (ANPR) market in the forthcoming years. Hence, the market for automatic number plate recognition (ANPR) is expected to gain a valuation of US$ 5 Bn by 2030.
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Automatic Number Plate Recognition (ANPR) Market: Growth Boosters
- Increase in demand for ANPR systems in order to achieve barrier-free parking is boosting revenue of the automatic number plate recognition (ANPR) market
- Rise in use of ANPR solutions by police departments and security agencies globally so as to achieve public safety is driving the sales of the automatic number plate recognition (ANPR) market
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Automatic Number Plate Recognition (ANPR) Market: Key Players
Some of the key players profiled in the report are:
- ARH Inc.
- Digital Recognition Systems Ltd.
- Euro Car Parks Limited
- Beltech BV.
- COBAN Technologies, Inc.
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Automatic Number Plate Recognition (ANPR) Market Segmentation
Component
- Hardware
- ANPR Cameras
- Frame Grabbers
- Others (Illuminators, Sensors etc.)
- Software
- Standalone ANPR Software
- Standalone Make & Model Recognition (MMR) Software
- Integrated Software
Application
- Security & Surveillance
- Vehicle Parking
- Traffic Management
- Toll Enforcement
- Others
Type
- Static ANPR Systems
- Portable ANPR Systems
End User
- Government
- Homeland Security
- Traffic Department
- Defense
- Others
- Commercial
- Dedicated Car Parks
- Entertainment & Recreation Facilities
- Others
Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- South Korea
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Argentina
- Rest of South America
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