Automatic Number Plate Recognition Market to Expand at 13.5% CAGR Owing to Rising Usage in Traffic Enforcement Applications: Transparency Market Research

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Transparency Market Research

28 Oct, 2015, 14:30 GMT

ALBANY, New York, October 28, 2015 /PRNewswire/ --

A new Transparency Market Research report states that the global automatic number plate recognition (ANPR) market is estimated at US$415.5 million in 2013, and is expanding at a CAGR of 13.5% between 2014 and 2020 and is predicted to reach US$1,023.2 million by 2020. The title of the report is "Automatic Number Plate Recognition (ANPR) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020". ANPR is a system, primarily a software, that helps computer systems automatically capture a vehicle's image and also read the vehicle's registration number. Thereafter, it is stored in the database after converting it into digital data. The major factor fuelling the demand for ANPR systems worldwide is the increasing penetration of ANPR in security and surveillance and traffic enforcement applications all around the world. Additionally, the demand for ANPR systems in the commercial sector is poised to increase due to its rising installation in vehicle parking. On the other hand, volatility in the design of number plates and interference in privacy are amongst the few factors impeding the growth of this market.

Full Research Report on Automatic Number Plate Recognition Market with detailed figures and segmentation at: http://www.transparencymarketresearch.com/automatic-number-plate-recognition.html

As per this market research report, the global market for ANPR is segmented in terms of application, end users, and geography.On the basis of application, the global ANPR market is segmented into vehicle parking, security and surveillance, toll enforcement, and traffic management, which includes red light control, congestion charging, and speed enforcement. Among these, in 2013, the application segment of security and surveillance led the worldwide market for ANPR systems on the basis of revenue and represented more than 25% of the market. In addition, a lot of security agencies and police departments utilize ANPR systems for improving the security system in their respective areas. 

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On the basis of end users, the market is segmented into the government sector, which includes the traffic department, homeland security, and defence, and the commercial sector, which includes dedicated car parks and recreation and entertainment facilities, namely multiplexes, shopping centres, and others.As per this TMR report, on the basis of geography, the market for ANPR is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, in 2013, Europe led the global market for ANPR in terms of revenue. In Europe, the UK stood as the largest market for ANPR. Other countries, namely Italy, Germany, Russia, and Hungary have also substantially fuelled the market for ANPR in this region. On the other hand, demand for ANPR systems from Asia Pacific will increase, especially in the emerging economies of India and China, due to growing adoption of ANPR in both commercial and government sectors.The report states that the market for ANPR systems is highly fragmented, thus there lies huge competition even within a single market segment. NDI Recognition Systems Ltd., PIPS Technology Ltd., Genetec Inc., Bosch Security Systems, and Tattile Srl are amongst the dominant players in the ANPR market.

Browse the Press Release of this report, here: http://www.transparencymarketresearch.com/pressrelease/automatic-number-plate-recognition.htm

Automatic Number Plate Recognition (ANPR) Market, by Applications: 

  • Security and Surveillance
  • Vehicle Parking
  • Traffic Management
    • Red Light Control
  • Toll Enforcement

Automatic Number Plate Recognition (ANPR) Market, by Ends-user: 

  • Government
    • Homeland Security
    • Traffic Department
    • Defense
  • Commercial
    • Entertainment and Recreation Facilities (Shopping Centers, Multiplexes and Others)
    • Dedicated Car Parks

Automatic Number Plate Recognition (ANPR) Market, by Geography: 

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World (RoW)

Other Research Reports by Transparency Market Research: 

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SOURCE Transparency Market Research