Albany, NY -- (SBWIRE) -- 05/23/2016 -- Transparency Market Research has published a new report on the global automatic number plate recognition (ANPR) market. As per the report, the global automatic number plate recognition (ANPR) market is expected to progress from US$0.47 bn in 2014 to US$1.4 bn by 2023. The report, titled 'Automatic Number Plate Recognition (ANPR) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,' states that the global market is expected to expand at a 12.80% CAGR during the period between 2015 and 2023. This growth is attributable to the increasing adoption of ANPR for better traffic rules enforcement.

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An automatic number plate recognition (ANPR) system reads the number plates of a passing vehicle to note every character present on the number plate; the system then converts this data into a digital format. The final information in the digital format can then be used for many applications. The data collected through ANPR systems is compared with the vehicle database available with various law enforcement units such as the Police National Road Agency and the Driver and Vehicle Licensing Agency. ANPR systems comprise elements such as high-speed cameras with processors, IR filters capable of performing optical character recognition, application software, an alert capacity, and a user interface.

ANPR systems are used by traffic regulation authorities and governments for traffic enforcement. However, the increasing usage of ANPR systems in the commercial sector is expected to propel the global automatic number plate recognition (ANPR) market in the years to come. The global automatic number plate recognition (ANPR) market is segmented on the basis of geography, application, and end-user. By geography, the global automatic number plate recognition (ANPR) market is divided into the Middle East and Africa, Asia Pacific, Latin America, Europe, and North America. In 2014, Europe led the global ANPR market due to the high penetration rate of ANPR systems in various applications across the region.

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The increasing demand for superior security, especially in the public sector has benefited the global automatic number plate recognition (ANPR) market in the recent past. Going forward, the market for ANPR is expected to be benefitted by the economic growth of emerging markets, especially in the Asia Pacific region. Also, the increasing adoption of tolling applications and parking management is predicted to create new growth opportunities in the global automatic number plate recognition (ANPR) market. However, concerns relating to intrusion on the privacy of people and non-uniformity in license plate design are predicted to hamper the growth of the global automatic number plate recognition (ANPR) market in the years to come.

By end-user, the global automatic number plate recognition (ANPR) market is classified into commercial and government. In 2014, the government sector held a massive share of 76% in the global ANPR market.

Vehicle parking, traffic management, toll enforcement, and security and surveillance are some of the applications of ANPR systems. Currently, the global ANPR market is dominated by the vehicle parking application segment.

The global ANPR market is highly fragmented and leading players are taking efforts to capitalize on the growth opportunities in niche markets. Some of the prominent players in the global automatic number plate recognition (ANPR) market are ARH Inc., ELSAG North America LLC, Q-Free ASA, Siemens AG, Genetec, Inc., CA Traffic Limited, Quercus Technologies, Vysionics Intelligent Traffic Solutions Ltd., and others.

Key Segments of Global Automatic Number Plate Recognition (ANPR) Market

Automatic Number Plate Recognition (ANPR) Market, by Applications:

Security and Surveillance
Vehicle Parking
Traffic Management
Red Light Control
Toll Enforcement

Automatic Number Plate Recognition (ANPR) Market, by End-user:

Government
Homeland Security
Traffic Department
Defense
Commercial
Entertainment and Recreation Facilities (Shopping Centers, Multiplexes and Others)
Dedicated Car Parks

Automatic Number Plate Recognition (ANPR) Market, by Geography:

North America
Europe
Asia-Pacific
Middle East & Africa (MEA)
Latin America

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