The Global Market for Automatic Number Plate Recognition Systems is Projected to Exceed US$1.5 Billion by 2024
Electronic
Tolling & Law Enforcement to Drive the Automatic Number Plate Recognition
Systems Market, According to a New Report by Global Industry Analysts, Inc.
GIA launches comprehensive analysis of industry
segments, trends, growth drivers, market share, market size and demand
forecasts on the global Automatic Number Plate Recognition Systems market. The global market for Automatic Number Plate Recognition Systems is
projected to exceed US$1.5 billion by 2024,
driven by sustained demand from applications such as electronic tolling and law
enforcement.
Automatic Number Plate Recognition is an optical
character recognition system, and includes hardware such as cameras and network
components, as well as software to analyze images captured by the cameras in
real time. A mass surveillance system that automatically captures images of
vehicle number plate when moving or static, and then with the help of optical
character recognition on images, helps establishes vehicle registration number,
ANPR promises high level of accuracy in identifying vehicles and therefore
finds use in various application areas including violation enforcement in
electronic toll collection, on-road traffic violation control, law enforcement,
and parking management among others. Growth in the automatic number plate
recognition market is driven largely by tolling and parking applications and
increasing use by law enforcement agencies worldwide. Growing number of crime
incidences and concerns over safety and security, is especially driving
adoption of automatic number plate recognition, particularly in mass
surveillance systems. Even as the use of ANPR is set to increase in existing
applications, its application is set to expand in relatively new end-use areas
such as journey time measurement, access control, and border control, among others, thanks to
increasing processing capabilities of the systems.
The rise in the number of casualties on road worldwide
is encouraging increased adoption of road safety camera or traffic enforcement
cameras. A road safety camera or traffic enforcement camera is an automated
ticketing machine, which consists of a camera mounted over a highway signal or
installed in an enforcement vehicle for detecting traffic regulation
violations, such as speeding, vehicle jumping a red traffic light and
unauthorized use of bus lane, among others. With global economy improving, market prospects
for automatic number plate recognition systems remain bright in the short to
medium period. Except for pockets of volatile growth in emerging markets,
economic growth has been steady in the recent past, especially in developed markets
of the US and Europe. With improving economy, government spending is
projected to grow in coming years on critical areas such as mass surveillance
for law enforcement and traffic violation control. Given that vehicle
identification is a critical mission for both law enforcement and traffic violation
control, ANPR systems will stand to gain big time in coming years. Also,
improving economy will accelerate public-private partnerships on road
transportation projects such as Intelligent Transport Systems, particularly
ETC.
As stated by the new market research report on Automatic Number Plate Recognition Systems, Europe
represents the largest market worldwide, followed by the United States. Though
developed markets such as the U.S., Europe and Japan continue to remain major
source of revenue for the market, developing markets such as Asia-Pacific and
Latin America will bring in strong potential for future growth. Having
seen robust increase in ETC deployments over the years, China is already one of
the fastest growing regional markets for ETC systems, which automatically makes
the nation a lucrative market for ANPR systems. Rest of World region is forecast
to emerge as the fastest growing market with a CAGR of 17.9% over the analysis
period.
Key players in the market include ACCEO Gtechna,
ANPRSolutions.com, ARH Inc., Bosch Security Systems, CAME Parkare, Captec Ltd.,
ClearView Communications Limited, COBAN Technologies Inc., Digital Recognition
Systems Ltd., DTK Software, ELSAG North America LLC, JENOPTIK Traffic Solutions
UK Ltd, NDI Recognition Systems Ltd., Petards Group plc, PlateSmart
Technologies Inc., Q-Free ASA, Quercus Technologies, Siemens AG, TagMaster AB,
Tattile Srl, Vigilant Solutions Inc., 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, growth drivers, innovations
and launches, and strategic industry activities of major companies worldwide.
The report provides market estimates and projections in US dollars for all
major geographic markets including the US, Canada, Japan, Europe (France,
Germany, Italy, UK, Spain, Russia, and Rest of Europe), China, South Korea, and
Rest of World. Applications analyzed for the global market include Toll &
Parking, Law Enforcement, and Journey Time.
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