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(IT-NEWSWIRE.COM, May 20, 2018 ) The global ANPR market is estimated to grow at a CAGR of 12.0% during the forecast period 2017-2025 and accounts for US$ 1654.4 Mn in the year 2025. One of the prime factors that are driving the demands for ANPR system adoptions is rising concern regarding security & surveillance and traffic management. Rising number of cars due to urbanization leads to traffic congestion and unmanaged parking which demands for a better traffic and parking management. ANPR technology is used to provide better surveillance system, monitor illegal activities and proper management of parking.
ANPR technology is a better version of earlier used surveillance systems. Earlier versions only had CCTV cameras, which were sometimes proved inadequate in reaching the verdict. ANPR technology proved to be a better solution for making it easy for the surveillance system to reach to the verdict. ANPR technology consist of a hardware and a software where hardware is generally a camera for taking the images of the number plates of bypassing vehicles, and the software is used to convert the image into alphanumeric characters to save it in the database for further analysis. With the rise in the economy of the countries and the growing urbanization, the disposal income of the population is also increasing which is one of the reasons of growing lifestyle of people and increase in the number of cars being operated worldwide. Issues like crimes, terrorist activities or any type of illegal activity are also increasing day-by-day. Earlier surveillance systems didn't prove to be successful many times and needed a new technology to be integrated for a better system. ANPR technology provides better solution and is being implemented at various locations such as highways, toll booths, parking for a better security and management. With the rising security concerns and road safety, many of the government agencies and private companies are implementing this technology and this will continue to boost the market for ANPR in the coming years.
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Global Automatic Number Plate Recognition Market Players:
3m Company ARH, Inc. COBAN Technologies, Inc. Digital Recognition Systems, Ltd. Genetec, Inc. Jenoptik AG Q-Free ASA Siemens AG Tattile S.R.L Vigilant Solutions The global ANPR market is bifurcated on the basis of its applications into vehicle parking, traffic management, security & surveillance and toll enforcement, by system types i.e. mobile, portable and fixed ANPR. The market for ANPR is further segmented by end-user into government (that includes traffic department, homeland security and defense) and commercial (that includes dedicated car parks, entertainment and recreation facilities). Also, the global market for ANPR is segmented by regions into North America, Europe, Asia Pacific, South America and Middle East & Africa. Vehicle parking application of ANPR is one of the major segment and increase in adoption rate of parking toll collection and parking management is expected to boost the demand for global ANPR market.
Europe is expected to dominate the global market for ANPR in terms of revenue. While high growth in demand is expected to rise in APAC region in both government as well as commercial sector. The demand for the global ANPR market is expected to grow in the coming years with increase in installation of vehicle parking application. The manufactures are expected to enhance their operations in developing economies in the forecasted period, Some of the major players operating in the global APAC market include PIPS Technology Ltd., Siemens AG, COBAN Technologies, ARH Inc., TattileS.r.l., CA Traffic Limited, Vysionics Intelligent Traffic Solutions Ltd., Quercus Technologies, Q-Free ASA, ELSAG North America LLC, Bosch Security Systems, NDI Recognition Systems Ltd., Genetec Inc., among others.
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