Global Automatic Number Plate Recognition Market size is projected to be valued $1.4 Billion by 2024; with a CAGR of 13.2% from 2017 to 2025. The automatic number plate recognition (ANPR) is used to detect and capture the images for vehicles and identify their license number. It helps to recognize criminality such as terrorists, criminals on the run, and organized crime groups, among others at local or national level. They are also used at electronic toll collection for pay-per-use roads and monitoring traffic activity.
Initiative by various government bodies to incorporate new technology for safety and security for general public coupled with increasing rates of crime and terrorist threats are the major factor supporting the growth of the global automatic number plate recognition market. Moreover, development of smart cities with technological advanced solutions also supports the growth of the market. However, variations in license plate designs across different states or countries could hinder the growth of the market. Furthermore, increasing adoption of ANPR systems across various sectors such as defense, government offices, and shopping malls among others could provide opportunity growth in the upcoming years.
The global automatic number plate recognition market is segmented based on the application, end-use industry and geography. By application, it is further segmented into security & surveillance, vehicle parking, traffic management and toll enforcement. Furthermore, end-use industry is segmented into government (homeland security, traffic department and defense) and commercial (entertainment & recreation facilities and dedicated car parks).
By geography the market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers U.K., Italy, France, Germany and Rest of Europe. Asia-Pacific covers China, Japan, South East Asia, Australia and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.
Key market players include Genetec Inc., Vigilant Solutions Inc., Bosch Security Systems, CA Traffic Limited, 3M Company, Siemens AG, Intelligent Traffic Solutions Ltd., ELSAG North America, COBAN Technologies and NDI Recognition Systems Ltd.
The report covers
Scope of the Global Automatic Number Plate Recognition Market
End-Use Industry Segments