Global Automatic License Plate Recognition Market Overview:
Automatic licence plate recognition is an image processing technique that uses the vehicle's licence plate to identify it. The goal is to create a system that uses the car number plate to create an efficient automatic approved vehicle identification system. The system is installed at the entry to a highly restricted region, such as military zones or areas surrounding major government facilities, such as Parliament and the Supreme Court. The devised system initially detects the car before taking a picture of it. The car number plate region is retrieved from a picture using image segmentation.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Worldwide development of smart cities
Market Growth Drivers:
Deployment of ALPR systems in security and surveillance, and traffic enforcement applications and Infrastructure growth in emerging countries
Challenges:
Privacy concerns regarding stored images and records being misused
Restraints:
Incorrect camera, lens, or location of cameras
Opportunities:
Increase in use of cloud-based storage services and Integration of new technologies such as AI and IoT in ANPR systems
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Siemens (Germany), Bosch (Germany), 3M (United States), Vysionics (United Kingdom), CA Traffic (United Kingdom), Digital Recognition Systems (United Kingdom), FLIR Systems (United States), Image Sensing Systems (United States), NDI Recognition Systems (United Kingdom), LILIN (Taiwan), TitanHz (Canada), FIDA Systems Ltd. (United Kingdom) and Selex ES (Italy). Analyst at AMA Research see Global Vendors to retain maximum share of Global Automatic License Plate Recognition market by 2028. Considering Market by Component, the sub-segment i.e. Cameras will boost the Automatic License Plate Recognition market.
Latest Market Insights:
On Oct. 24, 2019, Utility, Inc., will make its innovative Smart Automatic License Plate Reader (ALPR) technology, which was developed in collaboration with Sony Imaging Products & Solutions, Inc., available to law enforcement agencies across the country during the 126th IACP Annual Conference and Exposition
What Can be Explored with the Automatic License Plate Recognition Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Automatic License Plate Recognition Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Automatic License Plate Recognition
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Automatic License Plate Recognition market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Automatic License Plate Recognition market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Automatic License Plate Recognition Manufactures, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.