Automatic Number Plate Recognition (ANPR) Market Is Expected To Grow US$ 1654.4 Million By 2025

The Insight Partners added “Automatic Number Plate Recognition Market to 2025” to its research database. The report is spread across 177 pages and supported by 10 company leaders.

ANPR technology is a better version of earlier used surveillance systems. Earlier versions only had CCTV cameras, which were sometimes proved inadequate in reaching the verdict. ANPR technology proved to be a better solution for making it easy for the surveillance system to reach to the verdict. ANPR technology consist of a hardware and a software where hardware is generally a camera for taking the images of the number plates of bypassing vehicles, and the software is used to convert the image into alphanumeric characters to save it in the database for further analysis. With the rise in the economy of the countries and the growing urbanization, the disposal income of the population is also increasing which is one of the reasons of growing lifestyle of people and increase in the number of cars being operated worldwide. Issues like crimes, terrorist activities or any type of illegal activity are also increasing day-by-day. Earlier surveillance systems didn’t prove to be successful many times and needed a new technology to be integrated for a better system. ANPR technology provides better solution and is being implemented at various locations such as highways, toll booths, parking for a better security and management. With the rising security concerns and road safety, many of the government agencies and private companies are implementing this technology and this will continue to boost the market for ANPR in the coming years.

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In our study, we have segmented the ANPR market by application, system type and end-use industry. The application segment of ANPR market includes vehicle parking, traffic management, security & surveillance and toll enforcement. On the basis of system type the ANPR market is broadly segmented into mobile, portable ANPR and fixed ANPR. Moreover, the market for ANPR is bifurcated on the basis of end-use industry that are Government and Commercial. On the basis of geography, the ANPR market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).

The global ANPR market is estimated to grow at a CAGR of 12.0% during the forecast period 2017 – 2025 and accounts for US$ 1654.4 Mn in the year 2025. One of the prime factors that are driving the demands for ANPR system adoptions is rising concern regarding security & surveillance and traffic management. Rising number of cars due to urbanization leads to traffic congestion and unmanaged parking which demands for a better traffic and parking management. ANPR technology is used to provide better surveillance system, monitor illegal activities and proper management of parking. This technology is also used for the automation of the toll booths in various countries to reduce the time for the tolling and avoid traffic congestion.

The key players profiled in the Automatic Number Plate Recognition (ANPR) Market report are
3M Company
ARH Inc.
COBAN Technologies Inc.
Digital Recognition Systems, Ltd
Genetec Inc.
Jenoptik AG
Q-Free ASA
Siemens AG
Tattile S.R.L
Vigilant Solutions

View Complete Report at http://www.theinsightpartners.com/reports/automatic-number-plate-recognition-anpr-market

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This release was published on openPR.