Market Snapshot

Popularity of Automatic Number Plate Recognition Market is on the rise. It is projected that the global ANPR market will grow to more than USD 1,100 million by 2023 up from USD 670.7 million in 2018, reflecting a healthy growth rate. Growth of the market can be attributed to enforcement of stringent traffic laws. The growing vehicle parc worldwide is necessitating adoption of advanced traffic management systems. Traffic authorities are deploying ANPR systems as a long-term and cost-effective solution that facilitates enforcement of strict traffic law.

Global Automatic Number Plate Recognition (ANPR) Market, By Region

In 2017, Europe accounted for 37.7% market share and stood at a valuation of USD 229.2 million. The Automatic Number Plate Recognition Market in Europe is expected to grow at a CAGR of 10.5% from 2018 to 2023.

Adoption of ANPR has been significantly high in the region as these systems are deployed in tolling systems, parking and access control systems, and traffic control systems.

Governments in Europe are continuously investing in advanced monitoring technologies such as ANPR systems. Such factors are supporting the growth of Europe Automatic Number Plate Recognition Market.

Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/7763

Companies Covered

Siemens AG, Kapsch TrafficCom AG, Vigilant Solutions, Tattile SRL, Leonardo Company, Neology, Inc., Genetec Inc., Jenoptik Group, Conduent Inc., Financial Overview, Bosch Group.

The competition is fierce in the global ANPR Market, with smaller enterprises implementing aggressive growth strategies to increase their foothold. Many tier 1 and tier 2 companies in the market are partnering with domestic vendors to drive brand awareness and tap new markets. Companies are engaging in collaboration and partnerships to boost in-house development with more funds. Siemens AG, Kapsch Traffic Com AG, Bosch Group, Leonardo Company, and Jenoptik Group collectively account for the majority share of the market in terms of revenues.

The report covers the development strategies adopted by the companies between 2015 to 2018.

Key Development

In March 2018, Siemens launched Sicore ll, a next-generation ANPR camera. The Sicore ll camera is based on vision detection and analytics technology to capture high-quality and evidentially-secure images during the day as well as night.
In December 2018, Kapsch TrafficCom Australia Pty, Ltd, a subsidiary of Kapsch TrafficCom AG has been contracted by CPB Contractors John Holland Joint Venture (CPBJH JV) and Lendlease Samsung Bougyues Joint Venture (LSB JV) to deliver the Tolling Roadside System in Melbourne and Sydney.
November 2018, Vigilant Solutions partnered with ParkMobile, a US-based smart parking and mobility solutions company.
Market Segmentation

By Type - Mobile ANPR Systems, Fixed Automatic Number Plate Recognition Market, Portable ANPR Systems.

By Component - Automatic Number Plate Recognition Market Cameras, Triggers, Frame Grabbers, ANPR Software and others.

By Application - Traffic Management, Law Enforcement, Electronic Toll Collection, Parking Management, and Access Control.

By End-User - Commercial, Government, Defense, and Homeland Security.

Type Analysis

Fixed ANPR system segment accounted for 42.5% market share in 2017, with a valuation of USD 258.7 million. In addition, the segment is expected to witness a 9.1% CAGR during the assessment period. In fixed or stationary ANPR systems, cameras are mounted on fixed locations such as signboards, street lights, highway overpasses, or buildings. Fixed ANPR systems are considered a cost-effective solution for monitoring parked or moving vehicles.

Component Analysis

In 2017, the ANPR cameras segment accounted for the largest market share and stood at a valuation of USD 185.5 million. During the forecast period, the segment is projected to surge at a CAGR of 10%. Cameras are vital component of the ANPR systems, they are used to capture images of fast-moving vehicles. Advances in camera technology has increased the credibility of ANPR cameras. Sharpness, image resolution, and range are some of the important aspects consider before selecting an ANPR camera unit.

Application Analysis

The law enforcement segment accounted for 31.1% market share in 2017, with a valuation of USD 189.1 million. During the forecast period, the segment is expected to post a strong growth. ANPR systems find widespread application in law enforcement activities and are often implemented to aid homeland security and secure public events/venues.

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

End-User Analysis

The government segment accounted for 71.7% market share in 2017 and was valued a USD 436.2 million. In addition, the segment is projected to exhibit a 10.6% CAGR during the assessment period. This is primary owing to the increased usage of AMPR system for law enforcement by government bodies.

Key questions addressed by the report

Which applications / segments provides the maximum growth opportunity?
What are the emerging technologies and how it would disrupt the market?
Who are the key players dominating the market, followed by other prominent vendors and strategies adopted by them?
What was the market size and what would be the forecast in next few years?
Regional and country attractiveness: mid to long term outlook?
Market dynamics including trends, opportunities, drivers, challenges and how this would impact the market eco-system?
About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact Us:

Market Research Future

Office No. 528, Amanora Chambers

Pune – 411028 Maharashtra, India

Phone: +91 841 198 5042

Mail: [email protected]