Overview of the global automatic number plate recognition (ANPR) market
Market research analysts at Technavio predict that the global automatic number plate recognition (ANPR) market will grow steadily during the next four years and post a CAGR of close to 13% by 2021. This market research analysis identifies the benefits such as real-time identification and tracking as one of the primary growth factors for this market. The increase in number of criminal activities and vehicle theft have led to the rising demand for real-time identification and tracking systems which have resulted in the increased adoption of surveillance systems. These systems aim to provide enhanced security and curb anti-social activities.
One of the latest trends that will gain traction in the automatic number plate recognition market in the coming years is the adoption of cloud-based ANPR system. Cloud-based surveillance systems help end-users benefit from numerous advantages such as pay-per-use, low initial investment and maintenance, easy deployment, and instant access. Additionally, the cloud-based model includes various services such as on- and off-site storage, remote video monitoring, cloud-based video content analytics, and real-time monitoring through the Internet.
Competitive landscape and key vendors
This ANPR system market appears to be highly-fragmented due to the presence of a number of vendors. According to the automatic number plate recognition industry analysis research report, to remain competitive in the market, vendors not only have to develop new technologies but also have to be updated with the emerging technologies that can affect their product lines. The competition in this market is expected to intensify further with an increase in product extensions, technological innovations, and M&A.
The leading vendors in the market are -
- 3M
- ARH
- Elsag
- NDI Recognition Systems
The other prominent vendors in the market include Bosch Sicherheitssysteme, CA Traffic, Captec, Clearview Communications, Digital Recognition System, Genetec, JENOPTIK Traffic Solutions, NEC, Q-Free, Siemens, Tattile, Vigilant Solutions.
Segmentation by product and analysis of the ANPR market
According to the automatic number plate recognition market forecast, during 2016, the hardware segment accounted for the major shares and dominated this market. The adoption of ANPR systems for parking management in malls and other commercial areas will increase the demand for ANPR hardware. Furthermore, the advances in technology leading to the development of advanced cameras and the penetration of ANPR systems in developing countries will support the growth of the automatic number plate recognition market.
Geographical segmentation and analysis of the ANPR market
- APAC
- Europe
- Latin America
- MEA
- North America
This market study estimates that in terms of geographic regions, Europe will be the major revenue contributor to the market by 2021. Countries such as the UK, Germany, France, and Italy that were among the initial adopters of ANPR systems in the government sector due to the stringent government regulations for security, surveillance, and tax and toll collection, will be the major revenue contributing countries in this region.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global automatic number plate recognition market?
- What are the key market trends impacting the growth of the global automatic number plate recognition market?
- What are the challenges to market growth?
- Who are the key vendors in the global automatic number plate recognition market?
- What are the market opportunities and threats faced by the vendors in the global automatic number plate recognition market?
- Trending factors influencing the market shares of the APAC, Europe, Latin America, MEA, and North America.
- What are the key outcomes of the five forces analysis of the global automatic number plate recognition market?
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