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Automatic Number Plate Recognition System Market Size – USD 2,361.6 Million in 2020, Market Growth – at a CAGR of 9.5%

VANCOUER, BC, CANADA, December 13, 2021 /EINPresswire.com/ -- The global Automatic Number Plate Recognition (ANPR) system market size is expected to reach USD 4,899.0 Million at a steady CAGR of 9.5% in 2028, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to increasing use of ANPR systems for security and surveillance purposes and applications. ANPR system is a mass surveillance system used to read automotive license plates. ANPR technology finds application in the detection, prevention, and disruption of crime at local, provincial, and national levels. In addition, ANPR system is deployed by law enforcement agencies to provide proof and lines of inquiry in the event of a crime investigation.

The report offers insightful information about the market dynamics of the ANPR System Market . It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the ANPR System Market , competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the ANPR System Market .

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ANPR cameras find extensive use in pay and display parking, maximum stay car parks, or electronic permit schemes. ANPR can automatically read number plates of vehicles and maintain a record of entry and exit time of vehicles and helps in issuing a parking charge notice to vehicles for breach of terms & conditions.

Fixed ANPR systems offer a range of cameras to meet the requirement of various applications. A fixed ANPR system provides several benefits such as continuous high-traffic area surveillance, monitoring high criminal activity areas at a safe distance, and identification and immediate enforcement of recurrent toll violators. In fixed ANPR systems, cameras are positioned at fixed locations, including street lights, buildings, signboards, or highway overpasses. Moreover, fixed ANPR systems are a cost-effective method to monitoring moving or parked vehicles.

ANPR system market in Asia Pacific is expected to register fastest revenue CAGR during the forecast period, attributed to rapid infrastructure development and increasing government support to manage traffic congestion. Additionally, growing demand for ANPR systems by law enforcement agencies to curb criminal activities is causative of steady market growth in the region.

Companies profiled in the global ANPR System Market :

Siemens AG, ARH Inc., Neology Inc., Kapsch TrafficCom, Genetec Inc., TagMaster, Conduent Inc., Bosch Ltd., Q-Free ASA, and Vigilant Solutions Inc

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The primary aim of the report is to offer market overview, product scope, growth prospects, and risks. The report also offers in depth information about each player in the global ANPR System Market along with its global standing, financial status, product launch, business expansion plans among others. The market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.

Key Objectives of the ANPR System Market Report:

Analysis and estimation of the ANPR System Market size and share for the projected period of 2028
Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Biometric-as-a-Service market
Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities

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Segmental Analysis

The global ANPR System Market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the ANPR System Market in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals

Emergen Research has segmented the global ANPR system market on the basis of component, type, application, and region:

Component Outlook (Revenue, USD Billion; 2018–2028)
Hardware
Software
Type Outlook (Revenue, USD Billion; 2018–2028)
Fixed ANPR System
Mobile ANPR System
Portable ANPR System

Application Outlook (Revenue, USD Billion; 2018–2028)
Traffic Management
Electronic Toll Collection
Law Enforcement
Access Control
Parking Management

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Global ANPR System Market Geographical Landscape - Synopsis:

The report closely studies the growth trajectory of the global ANPR System Market . It brings to light the global dominance of the leading regional segments, including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

The study elaborates on the crucial information pertaining to the regional market share. It simultaneously focuses on the significant details about the growth patterns of each regional market.

Moreover, the report encases an exhaustive geographical study of the market, emphasizing the business growth prospects and market barriers for each of the key market regions.

Reasons to Buy:

To capture future market growth opportunities that can disrupt the market in future.

To improve your marketing strategies with added credibility

To gain a detailed view of market’s current scenario

To track strategies adopted by other market players and understand market’s profit and loss

Table of Contents:

Chapter 1 includes an introduction of the global ANPR System Market , along with a comprehensive market overview, market scope, product offerings, and an investigation of the market drivers, growth opportunities, risks, restraints, and other vital factors.

Chapter 2 offers an in-depth analysis of the key manufacturers engaged in this business vertical, along with their sales and revenue estimations.

Chapter 3 elaborates on the highly competitive terrain of the market, highlighting the key manufacturers and vendors.

In Chapter 4, our team has fragmented the market on the basis of regions, underscoring the sales, revenue, and market share of each region over the forecast timeline.

Chapters 5 and 6 have laid emphasis on the market segmentation based on product type and application

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