Global Automatic Number Plate Recognition (ANPR) Market 2017-2021
About Automatic Number Plate Recognition
Automated number plate recognition (ANPR) system is an OCR system, which is implemented using cameras and software to analyze the captured pictures. ANPR can either be installed on fixed polls or on cars for mobile surveillance. ANPR is widely being adopted by government sector for law enforcement, toll management, and traffic management. It is being deployed in commercial spaces for parking management.
Technavio’s analysts forecast the global automatic number plate recognition market to grow at a CAGR of 12.87% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automatic number plate recognition market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automatic Number Plate Recognition Market 2017-2021
Technavio recognizes the following companies as the key players in the global automatic number plate recognition market: 3M, ARH, ELSAG and NDI Recognition Systems.
Other Prominent Vendors in the market are: Bosch Sicherheitssysteme, CA Traffic, Captec, Clearview Communications, Digital Recognition System, Genetec, JENOPTIK Traffic Solutions, NEC, Q-Free, Siemens, Tattile and Vigilant Solutions.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is adoption for toll management and parking management. The use of AN systems for toll management and parking management is a major trend in the market as this helps in eliminating the need for human interaction, which can make the system more efficient and cost-effective.”
According to the report, one driver in the market is real-time identification and tracking. The intensity and occurrence of security attacks, issues, and threats are increasing massively. Recently, the number of thefts, robberies, and criminal activities has increased to a great extent. A number of criminal activities and vehicle theft have led to the increasing demand for real-time identification and tracking systems in the transportation sector.
Further, the report states that one challenge in the market is high cost of overall implementation. One of the main challenges confronting the vendors in the market is the high initial deployment and replacement costs of AN systems. The major cost factor in the market is the high cost of advanced surveillance cameras. As numerous cameras are required at different locations for efficient tracking and monitoring of vehicles, the total cost of implementation will be high.
3M, ARH, ELSAG, NDI Recognition Systems, Bosch Sicherheitssysteme, CA Traffic, Captec, Clearview Communications, Digital Recognition System, Genetec, JENOPTIK Traffic Solutions, NEC, Q-Free, Siemens, Tattile and Vigilant Solutions.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook