In a recent published report, Kenneth Research has updated the market report for Automatic Number Plate Recognition (ANPR) System Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Automatic Number Plate Recognition (ANPR) System Market products.
Global Automatic Number Plate Recognition (ANPR) System Market
By Component (ANPR Cameras, Frame Grabbers, Triggers, ANPR Software), End User (Commercial, Government), Type (Mobile ANPR Systems, Portable ANPR Systems, Fixed ANPR Systems), Application (Parking Management, Access Control, Traffic Management, Law Enforcement, Electronic Toll Collection), and Regional Market Size, Status and Forecast to 2025
The Global Automatic Number Plate Recognition (ANPR) System Market was valued at USD 4.561.82 billion in 2016 and is projected to reach USD 4.16 billion by 2025, growing at a CAGR of 9.63% from 2017 to 2025. Automatic Number Plate Recognition (ANPR) is a technology that uses optical character recognition on images to read vehicle registration plates. ANPR can be used to store the images captured by the cameras and the text from the license plate, with some configurable to store a photograph of the driver. Benefits of ANPR includes – identify potential threats, cost effective, increased security, ticketless, barrier-free system, vehicle location and crime prevention, vehicle tax evasion detection, and business premises access management.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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1. Market Drivers
1.1 Integration of parking spaces with automated technology
1.2 Rising use of cloud-base storage services
1.3 Increasing usage of video analytics technology for intelligent monitoring of vehicles
1.4 Growing investments by the government for intelligent monitoring of vehicles
1.5 Growing need for deployment of ANPR systems in security and surveillance, and traffic enforcement applications
2. Market Restraints
2.1 Inconsistency in Number Plate Designs
2.2 Misinterpretation of Ambiguous Characters on Number Plates
The Global Automatic Number Plate Recognition (ANPR) System Market is segmented on the component, end user, type, application, and region.
1.1 ANPR Cameras
1.2 Frame Grabbers
1.4 ANPR Software
2. By End User:
3. By Type:
3.1 Mobile ANPR Systems
3.2 Portable ANPR Systems
3.3 Fixed ANPR Systems
4. By Application:
4.1 Parking Management
4.2 Access Control
4.3 Traffic Management
4.4 Law Enforcement
4.5 Electronic Toll Collection
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. Vigilant Solutions, Inc.
2. KAPSCH TrafficCom AG
3. Q-Free ASA
4. Conduent, Inc.
5. Siemens AG
6. Genetec Inc.
7. Digital Recognition Systems Ltd.
8. Tattile SRL
9. NDI Recognition Systems
10. Neology, Inc.
11. ARH Inc.
12. Bosch Security Systems, Inc.
13. Elsag North America, LLC
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Automatic Number Plate Recognition (ANPR) System Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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