Competitive landscape • Automatic number-plate recognition

Automatic number-plate recognition

The automatic number plate recognition (ANPR) system market in 2016 was valued at USD 1.78 Billion and is predicted to succeed in USD 3.57 Billion by 2023, at a CAGR of 9.74% between 2017 and 2023. The base year considered for the study is 2016 and therefore the forecast period is between 2017 and 2023. This report provides a close analysis of the ANPR system market supported type, component, application, and geography. The automatic number plate recognition ANPR system utilizes the optical character recognition technology to read the registration plates of vehicles. The car place recognition technology, which primarily consists of software, is employed to enable computer systems to automatically read the license number/registration numbers of vehicles from digital pictures. Two components are involved in ANPR (automatic number plate recognition) systems: camera and software. The camera is used to detect passing vehicles, capture their images, and send the pictures to a computer for processing. The software is used to acknowledge the characters on the amount plate and stores them during a database.

The major driving factors of worldwide ANPR system market are as follows:

Growth in high technological security
Allocation of funds from governments for intelligent transport system (ITS)
Large number of players engaged within the production of an integrated ANPR system
Demand from end users like traffic management, parking management, toll collection

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Detailed analysis and profiling of additional market players (up to 5)

The automatic number plate recognition(ANPR) system market is predicted to be worth USD 3.57 Billion by 2023, growing at a CAGR of 9.74% between 2017 and 2023. The market within this study has been classified on the idea of types, components, and applications. The need to deploy camera technologies for security and surveillance, and traffic enforcement applications and infrastructure growth in emerging economies are a number of the many growth drivers for the ANPR system market.

The types of ANPR systems are fixed systems, mobile systems, and portable systems. The major components of those systems are cameras, software, frame grabbers, and triggers. ANPR has its applications including traffic management, law enforcement, electronic toll collection, parking management, and access control. The report delivers a description of each of these application areas.

The Fixed ANPR system is predicted to carry the biggest market share between 2017 and 2023. The market growth are often attributed to the increasing demand for these systems for monitoring traffic and collecting data in highways, bridges, tunnels, and public and personal parking spaces. The mobile ANPR system is predicted to grow at the very best CAGR between 2017 and 2023. These systems are widely preferred by various police and law enforcement agencies for ensuring proper security and surveillance.