Increasing deployment of ANPR systems for security and surveillance is a significant factor driving global ANPR system market revenue growth
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— Emergen Research
VANCOUVER, BC, CANADA, May 18, 2023 /EINPresswire.com/ — The panoramic view of the ANPR system market entails useful insights into the estimated ANPR system market size, revenue share, and sales & distribution networks. Such helpful market insights are bound to help readers outline this industry’s key outcomes in the near future.
The global Automatic Number Plate Recognition (ANPR) system market size is expected to reach USD 4,899.0 Million at a steady CAGR of 9.5% in 2028, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to increasing use of ANPR systems for security and surveillance purposes and applications. ANPR system is a mass surveillance system used to read automotive license plates.
ANPR technology finds application in the detection, prevention, and disruption of crime at local, provincial, and national levels. In addition, ANPR system is deployed by law enforcement agencies to provide proof and lines of inquiry in the event of a crime investigation.
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Some Key Highlights from the Report
In March 2020, Genetec announced introduction of AutoVu SharpZ3, which is a mobile automotive number plate recognition system that offers innovative insight in situational awareness and vehicle analytics.
ANPR cameras find extensive use in pay and display parking, maximum stay car parks, or electronic permit schemes. ANPR can automatically read number plates of vehicles and maintain a record of entry and exit time of vehicles and helps in issuing a parking charge notice to vehicles for breach of terms & conditions.
Fixed ANPR systems offer a range of cameras to meet the requirement of various applications. A fixed ANPR system provides several benefits such as continuous high-traffic area surveillance, monitoring high criminal activity areas at a safe distance, and identification and immediate enforcement of recurrent toll violators.
Key players in the market include Siemens AG, ARH Inc., Neology Inc., Kapsch TrafficCom, Genetec Inc., TagMaster, Conduent Inc., Bosch Ltd., Q-Free ASA, and Vigilant Solutions Inc.
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The study has been conducted on the basis of inputs from the industry leaders. Thus, a conscious effort to dive deep and unearth hard to find information pertaining to the growing market landscape and growth prospects over the next few years is clearly visible in the study. The market intelligence report further comprises of discussions about the major vendors operating in the Automatic Number Plate Recognition.
Segmentation:
Emergen Research has segmented the global ANPR system market on the basis of component, type, application, and region:
Component Outlook (Revenue, USD Billion; 2018–2028)
Hardware
Software
Type Outlook (Revenue, USD Billion; 2018–2028)
Fixed ANPR System
Mobile ANPR System
Portable ANPR System
Application Outlook (Revenue, USD Billion; 2018–2028)
Traffic Management
Electronic Toll Collection
Law Enforcement
Access Control
Parking Management
Regional Analysis:
The report sheds light on the region expected to dominate the Automatic Number Plate Recognition market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Automatic Number Plate Recognition market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
The report addresses the following key points:
The report provides a forecast of market drivers, restraints, and future opportunities for the Automatic Number Plate Recognition market
The report further analyses the changing market dynamics
Regional analysis and segmentation of the Automatic Number Plate Recognition market with analysis of the regions and segments expected to dominate the market growth
Extensive competitive landscape mapping with profiles of the key competitors
In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
Revenue forecast, country scope, application insights, and product insights
The study elaborates on the crucial information pertaining to the regional Automatic Number Plate Recognition share. It simultaneously focuses on the significant details about the growth patterns of each regional market.
Moreover, the report encases an exhaustive geographical study of the market, emphasizing the business growth prospects and market barriers for each of the key market regions.
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