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Automatic number plate recognition is a technology that uses optical character recognition to read vehicle registration plates in order to locate the vehicle. The technology is used by the police and is used for enforcement purposes and better security and management. It is also used for checking whether the vehicle is registered or not, electronic toll collection and others.
The global automatic number plate recognition market is assumed to achieve USD XXX million by 2023 and is currently accounted for USD XXX Million in 2017. The increasing population and the rise in the personal disposable income of the people and the increase in the number of cars have overall increased the demand of the market.
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1. It is used for surveillance applications like security, vehicle access and many others.
2. It allows the whole process to be performed at the site in real-time.
3. It is used to measure the average vehicle speed over longer distances.
4. They are used to recognize the guest vehicles in order to assist visitor management systems.
The Automatic number plate recognition market is segmented based on components, application and by end-user. By components, it is further divided into hardware, ANPR Cameras, Frame Grabber, Illuminators, sensors, software and others. By application, it is divided into security and surveillance, vehicle parking, traffic management, toll enforcement and others. By end-user, it is divided into government, homeland security, traffic department, defence, commercial, entertainment and recreation facilities, shopping centres, multiplexes, dedicated car parks and others. All the segments hold a significant share in the overall revenue earned in the market. further, the government sector emerges as dominant in the global market.
The leading competitors in automatic revolution number plate market are Koninklijke Philips N.V., SOMNOmedics Gmbh, Advanced Brain Monitoring, Inc., Braebon Medical Corporation, Becton, Dickinson and Company, MGC Diagnostics Corporation, Natus Medical Incorporated, Cleveland Medical Devices Inc., BMC Medical Co, Ltd., ResMed Inc. and Other Major & Niche Key Players. All these competitors are regularly modifying their plans and policies in order to gain major market share. Therefore, manufacturers are expected to expand their business in economies such as China, India, Malaysia which will provide growth opportunities in the near future.
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The market is in automatic revolution number is geographically segmented into major countries such as Europe, Middle-East, North America and Asia-Pacific region. The market reports determine that Europe holds a leading share in the market because of the rising demand for security in the country. The market is followed by North America.