The Global Market for Automatic Number Plate Recognition Systems is Projected to Reach US$1 Billion by 2020

Strict Enforcement of Traffic Discipline Drives the Automatic Number Plate Recognition Systems Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Automatic Number Plate Recognition Systems. The global market for Automatic Number Plate Recognition Systems is projected to reach US$1 billion by 2020, driven by the sharp rise in traffic violations and the resulting strict enforcement of traffic rules and fines.

Vehicle Identification Number (VIN), defined as the DNA of an automobile, plays an important role in tracking vehicles for recalls, road user e-tolling, warranty claims, thefts, traffic violations, and insurance coverage, among others. Vehicle Number Plate Recognition technologies have evolved, over the years, from manual identification to automated systems. Traditional identification techniques include noting down the registration number, capturing images of number plates with hand held cameras, and manually searching the database for matches.
Automated techniques, on the other hand, involve the use of barcodes, RFID tags and automatic number plate recognition (ANPR) systems. An ANPR system is a mass surveillance system that automatically establishes vehicle registration number by running optical character recognition on images captured by strategically placed cameras.

Sales of ANPR systems are forecast to grow strongly supported by technology benefits, such as, ease-of-use, and high levels of accuracy in real time identification of vehicles. Also poised to spur growth in the market is the rapidly expanding application of these systems in toll collection, parking management, journey time measurement, access control, and border control. Advancements in algorithm and processing capabilities, development of smarter cameras, and integration of advanced features such as global positioning system (GPS) based tracking and 3D-analysis are helping improve product performance.

Law enforcement represents a major end-use market for ANPR systems. Escalating crime rates and increasing use of vehicles for committing crime present a strong business case for the adoption of vehicle identification technologies in this sector. Strategically placed ANPR cameras at gas stations, traffic islands, highways and intersections work as mass surveillance systems, helping law enforcement agencies to monitor movement of vehicles. ANPR systems also find use in traffic violation control, helping officials identify vehicles violating road safety rules such as over-speeding, jumping a red signal, or inappropriately using dedicated bus or pedestrian lanes, among others. Automatic license plate recognition systems are also used for tracing uninsured vehicles, and vehicles with outstanding traffic violation cases and default tax payments.

As stated by the new market research report on Automatic Number Plate Recognition Systems, Europe represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market led by China, which is projected to grow at a CAGR of 18.5% over the analysis period. Growth in the region is led by growing investments in intelligent transportation technologies, establishment of new Electronic Tollgates in major highways and motorways, growing number of vehicles on road and the ensuing need for effective mass surveillance systems to enforce discipline.      

Major players covered in the report include 3M, ARH, Inc., CA Traffic Limited, Captec Ltd., ClearView Communications Limited, COBAN Technologies, Digital Recognition Systems Ltd., DTK Software, ELSAG North America LLC, FLIR Systems Inc., Gtechna, Inc., HP Autonomy, Image Sensing Systems Inc., IP-Surveillance.com.au Pty Ltd., NDI Recognition Systems Ltd., Parkare Group, Petards Group Plc, PlateSmart Technologies, Inc., Q-Free ASA, Quercus Technologies, Siemens AG, Tattile Srl, The Bosch Group, Vigilent Solutions, Inc., Vysionics Intelligent Traffic Solutions Ltd., and Zhejiang Dahua Technology Co., Ltd., among others

The research report titled “Automatic Number Plate Recognition Systems: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), China, South Korea and Rest of World. Key application segments analyzed in the report include Toll & Parking, Law Enforcement and Journey Time.

Comments

Post a Comment

Popular posts from this blog

The Global Market for Big Data Technologies and Services is Projected to Reach $60 Billion by 2022

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Big Data market. The global market for Big Data Technologies and Services is projected to reach $60 billion by 2022 , driven by soaring digital data volumes in organizations and the resulting need to turn this data into valuable insights for enhancing operational efficiency, tapping new opportunities and gaining competitive edge. Defined as a natural result of mankind’s obsession with information technology and digitalization, “Big Data” refers to extremely large sets of structured, semi-structured and unstructured data of different types, including text, audio or video, generated from diverse data sources that has the potential to be mined for required information. While data supply associated with big data ecosystem has always been large and voluminous in most organizations, the ability to use these large datasets and convert them into meaningf
Read more

The Global Market for Surfing is Projected to Reach US$9.5 Billion by 2022

Rise of Surfing as a Lifestyle Sport Among all Age Groups Drives the Global Surfing Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Surfing market. The global market for Surfing is projected to reach US$9.5 billion by 2022 , driven by the growing interest in surfing both as a leisure and sporting activity, increased accessibility to surfing through surf parks and surf pools and technology innovations focused on developing sophisticated surf-wear and surf-gear.                               Surfing is a surface water sport where a participant riding a board (the surfboard) is carried away by a breaking wave. The surfing industry continues to evolve, driven by sustained efforts of surfing equipment makers, marketers and associations to make surfing much more accessible. Increased accessibility and affordability has drawn si
Read more

The Global Market for Private Tutoring Services is Forecast to Reach US$227 Billion by 2022

Intense Competition among Students and the Growing Need to Achieve Academic Excellence Drive the Global Private Tutoring Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Private Tutoring market. The global market for Private Tutoring Services is forecast to reach US$227 billion by 2022 , driven by the need to keep pace with classroom teaching, improve overall competency and enhance knowledge and skill level. Education is considered the social ladder to achieve success in personal and professional life. Higher education is associated with increased opportunities in the labor market, high remunerations, and improved social standing. People are therefore investing heavily in children’s education, including private tutoring or private supplementary tutoring which is emerging as a major phenomenon in the global education system
Read more