According to a repodvgfxcv rt available on Radiant Insights, Inc.; the automatic number plate recognition systems market is predicted to display substantial growth over the projected period (2018 to 2023).Automatic number plate recognition (ANPR) is a surveillance system that can be used to capture the image of vehicles and recognizing their license number.
Factors such as infrastructure development in developing countries, growing government funding to implement intelligent transport system (ITS), deployment of camera technologies insecurity and surveillance system, and traffic management application can propel the market over the forecast period
Growing rate of criminal activities and vehicle theft have increased the demand for real-time identification and tracking systems, which has resulted into high adoption of surveillance system. These systems aim to provide enhanced security and restraint anti-social activities. The ANPR system can be widely implemented in parking security, vehicle location guidance, ticketless parking fee management, car theft prevention, journey time measurement to optimize journey route, and traffic management services. Adoption of cloud-based ANPR system is also observed as one of the current trends in the market.
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Cloud-based surveillance systems offer several advantages to end-users including low initial investment, low maintenance costs, easy installation, instant access, and pay-per-use. In addition, it provides many services like remote video monitoring, on- and off-site storage, real-time monitoring over the internet, and video content analytics. All these factors are anticipated to positively influence the global market over the forecast period.
Worldwide automatic number plate recognition systems market can be segmented on the basis of type, component, region, and application. Based on type, the market can be trifurcated into fixed ANPR systems, mobile ANPR systems, and portable ANPR systems. As per component, the market can be categorized into frame grabbers, ANPR software, ANPR cameras, triggers, and others. As per application, the market can be classified into traffic management, electronic toll collection, law enforcement, parking management, and access control.
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Geographically, the automatic number plate recognition systems market can be divided into China, North America, and Europe. Europe represents one of the largest markets for automatic number plate recognition systems due high adoption of intelligent transportation systems for tolling management, traffic management and other applications. China automatic number plate recognition systems market is expected to exhibit rapid growth over the forecast period. This growth can be accredited to rapid development of infrastructure and rate of urbanization. Rising disposable income has increased the sales of automobiles in the region. This factor has created requirement for efficient traffic management tools. Adoption of these systems in electronic toll management system at roads, parking, and highways can boost the market growth in the region.
Key companies operating in the automatic number plate recognition systems market include KapschTrafficCom AG; Siemens AG; Neology, Inc.; Tag Master North America, Inc.; and ARH Inc. The market looks very competitive and highly-fragmented due to existence of several regional and international vendors. Most of them are focusing on new product developments with emerging technologies.
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Recently Vista introduced its new number plate recognition system called VS50. It is a combination of HD camera and embedded PC. The system processes HD video inside the camera housing, which eliminates the need for the videos to be transmitted to external PC. The system is available in three formats, namely, with or without an overview camera bollard and wall mount. It can be utilized in parking and access control system. The system itself is a single lane barrier control, but it can be combined with VNPR servers to use for multiple lane operations.
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