Automatic Number Plate Recognition Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Albany, NY -- (SBWIRE) -- 12/07/2015 -- Global Automatic Number Plate Recognition Market - Overview, Market Trends, and Key Players The global automatic number plate recognition market is expected to witness robust growth between the years 2014 and 2020, growing at a CAGR of 13.5%. Automatic number plate recognition system refers to a system of surveillance which has the capacity to capture and identify the images of vehicles and their respective license numbers respectively. The automatic number plate recognition systems basically store the license plate number in a database after it identifies the vehicle's number plate, and recognizes the characters present on it. Automatic number plate recognition systems are being used extensively in the areas of security and surveillance, toll enforcement, traffic enforcement, and parking management.
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A typical automatic number plate recognition system comprises user interface, an alert capability for notifying operators in case of a match, high speed cameras with IR filters, application software, and processors that are capable of performing optical character recognition. These systems can be used as standalone devices, or can be used with the current traffic enforcement cameras and maybe even closed-circuit televisions. Several police forces all across the globe also make use of automatic number plate recognition systems for detection and prevention of crimes.
Segmentation of the Global Automatic Number Plate Recognition Market
The global automatic number plate recognition market is segmented application-wise, on the basis of the end-users, and geography. Based on application, the automatic number plate recognition market is classified into toll enforcement, security and surveillance, traffic management, and vehicle parking. Till about 2013, the global automatic number plate recognition market was dominated by the application segment of security and surveillance in terms of revenue generated. Speed enforcement, congestion charging, and red light control are some of the automatic number plate recognition applications for traffic management. On the basis of end-users, this market is segmented into the commercial and government sectors.
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The sub-classification of the government sector includes defense, homeland security, and the traffic department. The commercial end users are further categorized into dedicated car parks, and entertainment and recreation. As per industry estimates and ongoing trends, the application segment of the global automatic number plate recognition market has been witnessing significant growth in the recent years. The installation of automatic number plate recognition systems ensures minimal human intervention, which leads to several cost related advantages and benefits. On the basis of geography, the global automatic number plate recognition market has been segmented into North America, Europe, the Asia Pacific, and Rest of the World.
Global Automatic Number Plate Recognition Market – Regional Analysis
Regionally, till the year 2013, the global automatic number plate recognition market was led by Europe. However, the prevailing trends show that the largest market for the adoption of automatic number plate recognition systems is the U.K. Greater market entry of regions like Hungary, Russia, Italy, and Germany into the global automatic number plate recognition market has given a significant boost to the European automatic number plate recognition market. The Asia Pacific is also expected to witness high growth rate in this market due to greater adoption of automatic number plate recognition systems in emerging economies like India and China. In fact, the rate of adoption of automatic number plate recognition systems in the commercial and government sectors of these economies is increasing rapidly.
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The main challenges facing the global automatic number plate recognition market are non-uniformity in the designs of number plates, and intrusion of privacy. It is expected that in the forthcoming years, the demand for automatic number plate recognition systems from the commercial sector will rise due to greater installations in vehicle parking application.
Some of the prominent players operating in the global automatic number plate recognition market are Tattile S.r.l., Genetec, Inc., PIPS Technology Ltd., Vigilant Solutions, Q-Free ASA, Siemens AG, NDI Recognition Systems LLC, Digital Recognition Systems, Ltd., and Bosch Security Systems, Inc.
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