The report of Global automatic number plate recognition system market by Type (Fixed ANPR Systems, Mobile ANPR Systems, Portable ANPR Systems) Component (Hardware, Software) Application (Traffic Management, Law Enforcement, Electronic Toll Collection, Parking Management, Access Control) End user (Government, Homeland Security, Traffic Department, Defense, Commercial, Entertainment & Recreation Facilities, Dedicated Car Parks) and Region (Asia Pacific, North America, Europe, Latin America, Middle East Africa) is expected to reach US$ 5.85 Bn by 2026, at a CAGR of XX% during a forecast period.
The Automatic number plate recognition can be best defined as a mass surveillance method that uses optical character recognition on images for reading purpose such as the license plates on vehicles. ANPR can be used to collection of images clicked by the cameras along with a configurable picture of the driver. This system is widely being used by many police forces and as a method of electronic toll collection on pay-per-use roads and monitoring traffic activity.
Fixed ANPR Systems segment is expected to grow at the highest XX% CAGR during the forecast period.
Fixed ANPR systems is expected to grow at the largest CAGR of XX% during the forecast period. The growth of these systems is attributed to the increasing demand from applications like traffic management, toll collection, and parking management. The development in video analytics to capture, process, and store images of number plates has improved the capabilities of ANPR systems. This is encouraging more people to use this system permanently.
The Asia Pacific dominated the Global Automatic Number Plate Recognition System Market in 2018
APAC is projected to exhibit the highest growth during the forecast period. The demand for ANPR systems in APAC is significantly fuel by the robust economic growth, an increasing number of vehicles, and rapid urbanization. Several countries in APAC are at an early stage of implementing technology for electronic tolling and traffic monitoring. Factors like growing population and rapid industrialization have led to an increase in the usage of vehicles.
Key players operating the Global automatic number plate recognition System market are 3M Co, Q-Free ASA, ARH Inc., Vigilant Solutions Inc., NDI Recognitions Systems Ltd., Elsag North America LLC, CA Traffic Ltd., Captec Ltd., ClearView Communications, COBAN Technologies Inc, DTK Software, FLIR Systems, Gtechna Inc., Digital Recognition Systems Ltd., Kapsch TrafficCom AG, Conduent, Inc., Siemens AG, Neology, Inc., Bosch Security Systems GmbH, Tattile srl, TagMaster North America, Inc, Euro Car Parks Limited, Quercus Technologies, Vigilant Solutions, Inc., HTS, FF Group
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global automatic number plate recognition system market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global automatic number plate recognition system market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global automatic number plate recognition system market positioning of competitors.
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