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In a recent published report, Kenneth Research has updated the market report for Automatic Number Plate Recognition Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Automatic Number Plate Recognition Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
Global Automatic Number Plate Recognition Market is estimated to reach $1.4 Billion by 2014 with CAGR of 13.3% between 2016 and 2024. The automatic number plate recognition (ANPR) is an image processing technology, which is used for mass surveillance. It can capture and detect the images of vehicles and identify their license number. It is greatly helps to recognize the criminality at local or national level. ANPR is also used at electronic toll collection for pay-per-use roads and monitoring traffic activity. It enables to store the captured images and the text from license plate along with a photograph of the driver.
Major driving factors of the global automatic number plate recognition market are initiative by various government bodies to incorporate new technology for safety & security for general public, increasing rates of crime & terrorist threats, development of smart cities with technological advanced solutions. Though, variations in license plate designs across different states or countries may hamper the growth of the market. Additionally, increasing adoption of ANPR systems across various sectors such as defense, government offices, and shopping malls, among others would provide opportunity growth in the upcoming years.
The global automatic number plate recognition market has been bifurcated into application, end-use industry and geography. Application, it is further segmented into security & surveillance, vehicle parking, traffic management and toll enforcement. Additionally, end-use industry is segmented into government (homeland security, traffic department and defense) and commercial (entertainment & recreation facilities and dedicated car parks).
By geography, the market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers U.K., Italy, France, Germany and Rest of Europe. Asia-Pacific covers China, Japan, South East Asia, Australia and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.
Key market players include 3M Company, Siemens AG, Intelligent Traffic Solutions Ltd., Genetec Inc., Vigilant Solutions Inc., Bosch Security Systems, CA Traffic Limited, ELSAG North America, COBAN Technologies and NDI Recognition Systems Ltd, among others.
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The key takeaways from the report
The report will provide detailed analysis of Automatic Number Plate Recognition Market with respect to major segments such as application and end-use industry type of the market.
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024.
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Automatic Number Plate Recognition market will be included in the report
Profile of key players of the Automatic Number Plate Recognition market, which include key financials, product & services, new developments, and .
Scope of Automatic Number Plate Recognition Market
Application Segments
Security & Surveillance
Vehicle Parking
Traffic Management
Toll Enforcement
End-Use Industry Segments
Government
Homeland Security
Traffic Department
Defense
Commercial
Entertainment & Recreation Facilities
Dedicated Car Parks
Geography Segments
North America
US
Canada
Mexico
Europe
U.K.
Italy
France
Germany
Others
Asia-Pacific
China
Japan
South East Asia
Australia
Others
RoW
South America
Middle East
Africa
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About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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