PUNE, India, December 2, 2015 /PRNewswire/ --
The report "Automatic Number Plate Recognition System Market by Type (Mobile, Fixed, Portable), Application (Traffic Management, Law Enforcement, Toll Collection, Parking Areas), & Geography - Analysis & Forecast to 2020", published by MarketsandMarkets, is estimated to reach USD 1.05 Billion by 2020, at a CAGR of 13.25% between 2015 and 2020.
Browse 68 market data Tables and 40 Figures spread through 124 Pages and in-depth TOC on "Automatic Number Plate Recognition System Market"
Early buyers will receive 10% customization on this report.
The market growth is attributed to the adoption of ANPR systems for traffic management and law enforcement applications around the globe. Also the ANPR system market will witness demand from the commercial applications such as toll collections and dedicated parking in the forecasted period.
Fixed ANPR system expected to lead the global ANPR system market
The fixed ANPR system held the major share of the market in 2014. This market is expected to grow at a CAGR of 13.54% between 2015 and 2020. The growth of the fixed ANPR system is attributed to the increasing demand from applications such as traffic management, toll collection, and parking areas.
The toll collection application is expected to grow at the highest CAGR between 2015 and 2020
The market for toll collection is estimated to grow at the highest CAGR of 17.46% between 2015 and 2020. The rapid increase in the adoption of vehicles and the increasing government regulations for the implementation of the electronic toll collection system market is expected to drive the growth of this market.
APAC to witness highest growth during the forecast period
The ANPR system market in APAC is expected to grow rapidly as a solution to various issues such as traffic congestion, police enforcement, toll collection, and parking which have arisen due to the rise in the urban population. In APAC, countries such as Japan and China have installed ANPR system in various application areas such as toll collection, parking, and traffic management. The ANPR system market in APAC is expected to grow at the highest CAGR of 18.06% during the forecast period.
Some of the major companies dominating the ANPR systems market include 3M Company (U.S.), ARH Inc. (Hungary), Elsag North America LLC (U.S.), Genetec Inc. (Canada), Q-Free ASA (Norway), Vigilant Solutions Inc. (U.S.).
Ask For PDF Brochure: http://www.marketsandmarkets.com/pdfdownload.asp?id=140920103
In this research report, the global ANPR system market is segmented on the basis of type, component, application, and geography. This report describes the drivers, restraints, opportunities, and challenges for the growth of the ANPR system market. The Porter's five forces analysis has been included in the report with a description of each of its forces and their respective impact on the ANPR system market.
Browse Related Reports
Intelligent Transportation System Market by Component (Interface Board, Sensor, Surveillance Camera and Others), System (ATMS, ATIS, ITS-Enable Transportation Pricing System, APTS, and CVO), Application, and Geography - Analysis & Forecast to 2015 - 2020
Electronic Toll Collection Market by Type (ETC and AET), Product (AVI and AVC), Technology (RFID, DSRC, Video Analytics, and GNSS/GPS), Application (Highway and Urban) and Geography - Analysis & Forecast (2014-2020)
MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connect over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arriving and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Tel: + 1-888-600-6441
Visit MarketsandMarkets Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets