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Automatic Number Plate Recognition System Market by Type, Component, Application And Geography - Global Forecast to 2023

Automatic Number Plate Recognition System Market: Global Forecast until 2023

  • August 2017
  • 151 pages
  • ID: 5073754
In this report:
Among all the ANPR system components, ANPR cameras held the largest market share of ##.##% in 2016, and this market is expected to grow at a CAGR of ##.##% between 2017 and 2023.
The market for portable ANPR systems for access control is expected to be valued at USD ##.## million by 2023, growing at the highest CAGR of ##.##% during the forecast period.

Summary

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"Automatic number plate recognition system market forecasted to grow at a compound annual growth rate (CAGR) of 9.74% during the forecast horizon"

The ANPR system market is anticipated to be valued at ~$3.6B by 2023, increasing at a compound annual growth rate (CAGR) of ~9.7 percent between 2017 and 2023. The increase of this market is propelled by the growth in demand from security and surveillance and traffic management applications and infrastructure increase in emerging economies. Nevertheless, the misinterpretation of ambiguous characters on a number plate is restraining the rise of the ANPR system market.

"Mobile ANPR system to be the quickest increasing market during the estimate period"

The mobile ANPR system is anticipated to grow quickly during the forecast period between 2017 and 2023. These systems are gaining popularity amongst the law enforcement agencies as they offer greater mobility and flexibility while conducting security and surveillance operations.

"ANPR cameras held the largest part of market share in 2016, and this sector is anticipated to grow between 2017 and 2023"

ANPR cameras held the biggest market share in 2016. The cost of the cameras varies depending on their specifications including resolution, distance from which it can take photos, and maximum speed of the vehicle that can be recorded in the camera. Also, the number of cameras required depends on the area where the ANPR systems are to be installed. Generally, a single camera unit is assigned for capturing a single lane; therefrom, for more number of lanes, more cameras are required.

"Asia-Pac to be the quickest developing market for ANPR system between 2017 and 2023"

Asia-Pacific is expected to display the more important increase during the outlook period. The industry demand for ANPR systems in Asia-Pac is significantly driven by the strong economic increase, growing number of vehicles, and quick urbanization. Different countries in Asia-Pacific are at an early stage of adopting technology for electronic tolling and traffic monitoring. Elements such as increasing population and fast industrialization have led to an growth in the usage of vehicles.

Key players' distribution profiles:

• By Company category: Tier 1-18 %, Tier 2-31.0 percent, and Tier 3-51.0 percent

• By Description: C level-26%, Director level-40%, and Others-34%

• By Area: North America-47%, Europe-28%, APAC-19%, and RoW-6%

Some of the main firms dominating the ANPR system market contain Kapsch TrafficCom AG, Conduent, Incorporated, Q - Free ASA, Siemens (SIA), ARC Inc., Bosch Security Systems, Incorporated, ELSAG North America, Limited liability company, Genetec Inc., NDI Recognition Systems Ltd., Tattile, srl, Digital Recognition Systems Ltd., and Vigilant Solutions Inc..

Segment Research

This business report has been broken down into type, component, application, and geography of the ANPR system market. It also considers the main drivers, industry restraints, possibilities, and opportunities pertaining to the market. The market research contributes a in-depth view of the market across 4 main regions: North America continent, Europe (EU), Asia-Pac, and RoW (comprising South America, the Middle East (ME), and African continent).

Why Purchasing This Study Can Help You:

• this business report includes the industry statistics pertaining to type, component, application, and territory.

• Major drivers, market restraints, alternatives, and opportunities for the ANPR system market have been precised in this industry report.

• Illustrative segmentation, studies, and estimate have been conducted for the sector established on category, component, application, and area to give an global view of the ANPR system market.

• The competitive landscape section includes top players, complete study, revenue of main actors' competitor landscape, launches of new product, alliances, and mergers and acquisitions in the ANPR system market.

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