Global Automatic Number Plate Recognition Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Automatic Number Plate Recognition Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global automatic number plate recognition market report has been segmented on the basis of component, type, application, and region.

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Global Automatic Number Plate Recognition Market: Overview

Automatic number plate recognition also known by its acronym ANPR, uses number plates for recognition of vehicles. It is an image processing technology that helps to detect vehicle and sends information for computer processing which can be stored for creation for automatic number plate recognition applications.

Global Automatic Number Plate Recognition Market: Dynamics

Increasing installation of automatic number plate recognition for traffic management as well as security and surveillance, owing to increasing demand for efficient traffic control is a key factor driving growth of the global automatic number plate recognition market. In addition, increasing preference for automatic number plate recognition by law enforcement agencies is another factor supporting growth of the global market. Furthermore, growing requirement for intelligent monitoring by video analytics is a factor expected to support growth of the global automatic number plate recognition market over the forecast period.

However, lack of consistence in designs of number plates affects number plate recognition systems is a factor that may hamper growth of the global market. Nevertheless, growing adoption of automatic number plate recognition system for parking management and increasing usage of cloud-based storage systems for number plate recognition are factors that can create high revenue opportunities for players in the target market.

Global Automatic Number Plate Recognition Market: Segment Analysis

Among the type segments, the fixed ANPR systems segment accounts for significant share in terms of revenue and is expected to maintain its dominance over the forecast period. Fixed automatic number plate recognition systems are used by government agencies for identifying and tracking location of vehicles within certain road network. Increasing its use for parking management and traffic management is a factor fueling growth of this segment in the target market.

Among the application segments, the electronic toll collection segment is expected to register high growth in terms of revenue in the near future. Increasing installations of electronic toll control systems on highways is a factor propelling growth of this segment in the global market.

Global Automatic Number Plate Recognition Market: Regional Analysis

Market in Europe accounts for major share in terms of revenue and is expected to maintain its position over the forecast period. High adoption of automatic number plate recognition by law enforcement agencies and for traffic management is a factor driving growth of the target market in this region. In addition, presence of prominent players in countries in Europe is another factor supporting growth of the automatic number plate recognition market.

Market in North America expected to account for second-highest share in terms of revenue in the near future, owing to increasing adoption of technologically advanced security systems. Market in Asia Pacific is anticipated to register lucrative growth in terms of revenue over the forecast period. Increasing number of highways and growing public infrastructure, especially in emerging economies is a factor fueling growth of the automatic number plate recognition market in Asia Pacific.

Global Automatic Number Plate Recognition Market Segmentation:

Segmentation by Component:

Triggers
Frame Grabbers
Automatic Number Plate Recognition Software
Automatic Number Plate Recognition Cameras
Others

Segmentation by Type:

Mobile ANPR Systems
Fixed ANPR Systems
Portable ANPR Systems

Segmentation by Application:

Access Control
Law Enforcement
Traffic Management
Parking Management
Electronic Toll Collection