Automatic Number Plate Recognition Market : Global Major Key Players Research – Forecast to 2023


Posted January 14, 2020 by monicanerkar31

Market Research Future added New Report Named "Global Automatic Number Plate Recognition Market Research Report- Forecast 2023" to its Database

 
Global Automatic Number Plate Recognition Market: By Type (Mobile, Fixed), By Component (Cameras, Frame Grabbers, Software), By Application (Traffic Management, Law Enforcement, Electronic Toll Collection), By End-User (Government, Commercial) and Region - Forecast Till 2023

As per the study conducted by Market Research Future (MRFR), the global Automatic Number Plate Recognition system market is expected to surpass a valuation of USD 1,100 million by the year 2023. Enforcement of stricter traffic laws and increased focus on public safety is driving the adoption of ANPR systems. They offer cost-effective and credible surveillance solutions in public vicinities. These systems are expected to witness a strong demand in the foreseeable future.

Global Automatic Number Plate Recognition Market: Segmental Analysis

Segmental analysis of Automatic Number Plate Recognition market has been conducted based on type, component, application and end-user.

By type, the market has been segmented into mobile ANPR systems, fixed ANPR systems, portable ANPR systems. The fixed ANPR system segment held the largest market in 2017 and the trend is expected to continue beyond 2019. It is projected, that the segment will exhibit an impressive growth in the forthcoming years. Fixed ANPR system is popular in various types of outdoor and indoor premises, they are usually mounted on street lights, buildings, signboards, etc. The portable ANPR system segment holds the second-position and is expected to exhibit 13.4% CAGR during the assessment period.

By component, the market has been segmented into triggers, ANPR software, ANPR cameras, frame grabbers and others. The ANPR cameras segment commands for a sizable market share and is expected remain highly attractive in the forthcoming years. The segment is projected grow at 10% CAGR over 2023. Cameras play an important role in making ANPR systems effective and prudent. This, in turn, characterizes the segment’s growth. The ANPR software segment accounted for the second-largest market share in 2017 and is expected to maintain its position over 2023.

By application, the market has been segmented into law enforcement, parking management, traffic management, access control and electronic toll collection. The law enforcement segment currently represents a significant market share. The segment is expected to remain highly attractive over the next couple of years on account of its increasing usage in securing public venues such as sporting events, conventions, and concerts. Meanwhile, the electronic toll collection segment is expected to capture the highest CAGR during the forecast period.

By end-user, the market has been segmented into commercial, defense, homeland security and government. In 2017, the government segment commanded close to two-third share of the market. Furthermore, the segment is expected to witness a CAGR of 10.6% during the forecast period and surpass a valuation of USD 700 million by the year 2023. These ANPR systems are used for law enforcement by government authorities. ANPR systems helps in traffic surveillance and tracking down suspected license plates. It also helps in identifying stolen cars, which are blacklisted.

Get Complete Report @ https://www.marketresearchfuture.com/reports/automatic-number-plate-recognition-market-7763

Global Automatic Number Plate Recognition Market: Regional Outlook
Regions covered in MRFR’s report include North America, Europe, Asia Pacific (APAC) and the Rest of the World (RoW). Europe held the largest market for ANPR, in 2017, the region represented more than one-third market share in terms of value. In addition, the market in Europe is expected to witness a healthy CAGR of 10.5% during the assessment period. The adoption rate of ANPR has been high in countries such as Germany, the UK, France and the Netherlands among others. These advanced economies present lucrative opportunities to market players operating in the region. In terms of value, North America holds the second spot while APAC represents the third largest ANPR market.

Global Automatic Number Plate Recognition Market: Competitive Landscape
Some of the top-notch market players mentioned in the report include Kapsch TrafficCom AG, Tattile SRL, Neology, Inc., Jenoptik Group, Bosch Group, Siemens AG, Leonardo Company, Conduent Inc., Vigilant Solutions, and Genetec Inc.
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Last Updated January 14, 2020