Automatic Number Plate Recognition System Market Size – Industry Structure Evaluation, Demand Drivers Analysis, Regional Growth Analysis and Identification, Competitive Positioning Review & Global Market Size Forecast to 2029
Overview
Global Automatic Number Plate Recognition System Market is expected to reach US$ 6.38 Bn. by 2029, at a CAGR of 9.23% during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Automatic Number Plate Recognition System Market Dynamics:
Traffic control and vehicle owner identification has become a major problem in every country. Sometimes it becomes difficult to identify vehicle owners who break traffic rules and drives too fast. So, it is not possible to catch and punish those people instantly by traffic workforce. Therefore, there is a need in developing an Automatic Number Plate Recognition (ANPR) system, which can solve this problem. There are several ANPR systems available today.
Image processing technology and Optical Character Recognition (OCR) system is used for reading the image of the vehicles number plates. For example, Dutch vehicle registration plate’s format was changed to a different style in 2002, one of the changes made was to its font style. Number Plate Recognition system is used for toll way authorities, where system itself allowing the vehicle to enter the toll road by detecting their number plate and providing them with pay-slip automatically, without any human interaction. Parking authorities also use this system for security and organized vehicle parking. Firstly, system capture the image of the number plate then process it and read each and every character present in the number plate for their perfect recognition. The most significant phase is OCR, where the letterings on the image of number plate are changed into the texts which can be decoded later.
These systems are based on different methods but still it is really challenging task as some of the factors like non-uniform vehicle number system or style.
Manufacturers in the automatic number plate recognition system are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.
Automatic Number Plate Recognition System Market Segmentation Analysis:
Based on type, the fixed ANPR system segment held the highest market in 2022 and the trend is anticipated to continue in the future. It is expected, that the segment will exhibit an impressive growth in the forecast period. Fixed ANPR system is popular in many 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 grow at the largest CAGR of XX% during the forecast period.
By application, the segment is expected to grow at the largest CAGR of XX% during the forecast period, its increasing usage in securing at public venues like sporting events, conventions, and concerts. Meanwhile, the electronic toll collection segment is projected to capture the highest CAGR during the forecast period.
The government segment commanded close to two-third share of the market. Moreover, the segment is expected to witness a CAGR of XX% 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 help in traffic surveillance and tracking down suspected license plates. It also helps in identifying stolen cars, which are blacklisted.
Regional Analysis:
Region-wise, 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 major growth owing to increased use of connected devices and industrialization. Australia leads the automatic number plate recognition system deployments whereas, China, South Korea accounted for the second-largest share of automatic number plate recognition market in terms of revenue in the APAC region with plenty of smart initiatives being taken in the ANPR & ITS industry. These factors are expected to further boost the demand for automatic number plate recognition in the APAC region.
A report covers the recent development in market for automatic number plate recognition system like in 2017 Q-Free is engaged in its third Australian Cooperative ITS (C-ITS) project, with the Queensland Department of Transport and Main Roads (TMR).
The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding Global market dynamics, structure by identifying and analyzing the market segments and projecting the global market size.
Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence. To understand the market dynamics and by region, the report has covered the PEST analysis by region and key economies across the globe, which are supposed to have an impact on market in forecast period. PORTER’s analysis, and SVOR analysis of the market as well as detailed SWOT analysis of key players has been done to analyze their strategies. The report will to address all questions of shareholders to prioritize the efforts and investment in the near future to the emerging segment in the Global automatic number plate recognition system market.
Automatic Number Plate Recognition System Market, Key Highlights:
Global market analysis and forecast, in terms of value.
Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global market
Global market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
The Global market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
Global market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global automatic number plate recognition system market are also profiled.
Automatic Number Plate Recognition System Market Scope : Inquire before buying
| Automatic Number Plate Recognition System Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2022 | Forecast Period: | 2023-2029 |
| Historical Data: | 2018 to 2022 | Market Size in 2022: | US $ 3.43 Bn. |
| Forecast Period 2023 to 2029 CAGR: | 9.23% | Market Size in 2029: | US $ 6.38 Bn. |
| Segments Covered: | by Type | Fixed ANPR Systems Mobile ANPR Systems Portable ANPR Systems |
|
| by Component | Hardware Software |
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| by Application | Traffic Management Law Enforcement Electronic Toll Collection Parking Management Access Control |
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| by End User | Government Homeland Security Traffic Department Defense Commercial Entertainment & Recreation Facilities Dedicated Car Parks |
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Automatic Number Plate Recognition System Market, by Region:
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players:
1. 3M Co
2. Q-Free ASA
3. ARH Inc.
4. Vigilant Solutions Inc.
5. NDI Recognitions Systems Ltd.
6. Elsag North America LLC
7. CA Traffic Ltd.
8. Captec Ltd.
9. ClearView Communications
10. COBAN Technologies Inc
11. DTK Software
12. FLIR Systems
13. Gtechna Inc.
14. Digital Recognition Systems Ltd.
15. Kapsch TrafficCom AG
16. Conduent, Inc.
17. Siemens AG
18. Neology, Inc.
19. Bosch Security Systems GmbH
20. Tattile srl
21. TagMaster North America, Inc
22. Euro Car Parks Limited
23. Quercus Technologies
24. Vigilant Solutions, Inc.
25. HTS
26. FF Group
Frequently Asked Questions:
1. Which region has the largest share in Global Automatic Number Plate Recognition System Market?
Ans: APAC region holds the highest share in 2022.
2. What is the growth rate of Global Automatic Number Plate Recognition System Market?
Ans: The Global market is growing at a CAGR of 9.23 % during forecasting period 2023-2029.
3. What is scope of the Global Automatic Number Plate Recognition System market report?
Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Automatic Number Plate Recognition System market?
Ans: The important key players in the Global 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, and FF Group
5. What is the study period of this market?
Ans: The Global market is studied from 2022 to 2029.