Automatic Number Plate Recognition Market, By Application (Security and Surveillance, Vehicle Parking, Traffic Management, Toll Enforcement), By End-use Industry (Government (Homeland Security, Traffic Department, Defense), Commercial (Entertainment and R

Automatic Number Plate Recognition Market, By Application (Security and Surveillance, Vehicle Parking, Traffic Management, Toll Enforcement), By End-use Industry (Government (Homeland Security, Traffic Department, Defense), Commercial (Entertainment and Recreation Facilities, Dedicated Car Parks)), By Region (North America, Europe, Asia Pacific, Middle East and Africa, Latin America) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Automatic number plate recognition is a new technology that makes use of optical character recognition technology to read car registration plates to produce detailed vehicle location information for vehicles. It is capable of using any existing closed-circuit TV, police cameras, or specialized cameras specifically designed for this purpose. The system works by "surfing" the image of the plate and reading any sign or symbol which causes the eye to move, such as an "M" or a "Z". If the eye is not convinced by looking at the number plate it is not convinced by seeing the symbol. This method of reading is used on a large scale in several countries today. Automatic number plate recognition has its roots in several years of development. During this time it has been improved in size and capability. Currently, it is being used on roads in the U.K., Australia, Canada, and New Zealand. Currently, this technology is available in the United States and other countries. Automobile clubs and insurance companies are using it for verification purposes.
Market Dynamics
Rapid development of smart cities in both developed and emerging economies is expected to boost the global automatic number plate recognition market growth over the forecast period. The advent of smart city projects has increased the demand for automatic plate recognition systems. For instance, in June 2015, the Government of India launched ‘100 Smart Cities Mission’, allocating a fund of US$ 14 billion. Such projects are expected to increase investment in infrastructure thereby accelerating the demand for automatic number plate recognition.
Furthermore, increasing use of video analytics technology for intelligent monitoring of vehicles is expected to propel the global automatic number plate recognition market growth in the near future.
Key features of the study:
This report provides in-depth analysis of the automatic number plate recognition market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022-2028), considering 2021 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global automatic number plate recognition market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include ARH, Inc., Vigilant Solutions, Bosch Security Systems, Inc., Tattile S.r.l., Digital Recognition Systems, Ltd., Siemens AG, ELSAG North America LLC, Q-Free ASA, Genetec, Inc., PIPS Technology Ltd., and NDI Recognition Systems LLC.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global automatic number plate recognition market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global automatic number plate recognition market
Detailed Segmentation:
Global Automatic Number Plate Recognition Market, By Application
Security and Surveillance
Vehicle Parking
Traffic Management
Toll Enforcement
Global Automatic Number Plate Recognition Market, By End-use Industry
Government
Homeland Security
Traffic Department
Defense
Commercial
Entertainment and Recreation Facilities
Dedicated Car Parks
Global Automatic Number Plate Recognition Market, By Region
North America
U.S.
Rest of North America
Europe
EU7
CIS
Rest Of Europe
Asia Pacific
China
Japan
South East Asia
Australia
Rest of APAC
Middle East and Africa (MEA)
GCC
North Africa
Southern Africa
Rest of MEA
Latin America
Brazil
Rest of Latin America
Company Profiles
ARH, Inc.*
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Vigilant Solutions
Bosch Security Systems, Inc.
Tattile S.r.l.
Digital Recognition Systems, Ltd.
Siemens AG
ELSAG North America LLC
Q-Free ASA
Genetec, Inc.
PIPS Technology Ltd.
NDI Recognition Systems LLC
*Browse all the market data tables and figures on "Global Automatic Number Plate Recognition Market - Forecast to 2028”