Automatic Number Plate Recognition: A Global Multi-Client Research Initiative
San Jose, CA (PRWEB) August 22, 2013
Follow us on LinkedIn – In the coming months, GIA will complete an extensive secondary and primary research program involving some of the industry’s leading players and experts. The study will examine key drivers and trends impacting the market such as growing vehicular traffic worldwide, clogged roads, rise in the use of vehicles to commit crimes, growing focus on Intelligent Transportation Systems (ITS) for efficient traffic management, and emergence of cloud based Automatic Number Plate Recognition (ANPR) solutions. Defined as a mass surveillance method designed to monitor traffic movement, enforce traffic disciple, and catalog vehicles for automatic toll collection, Automatic Number Plate Recognition (ANPR) is expected to witness strong growth. Key factors driving growth in the market include escalating security concerns and the ensuing need for appropriate policing tools, and increased investments in electronic toll collection projects. Technology developments in the field of machine vision, artificial intelligence, and neural networks will help fuel adoption of ANPR in the coming years, by enhancing the reliability and efficiency of the system.
Strong demand for ANPR is expected to stem from the law enforcement sector primarily due to the technology’s ability to automate the process of identifying vehicles of interest. Key application areas of ANPR in this sector include identification of stolen vehicles and vehicles with outstanding violation or taxes, enforcement of border security and surveillance, among others. Another key deployment area driving growth is parking security and parking automation, where the systems are being used for preventing car theft, for managing ticketless parking fee and for parking access automation, among others. Road tolling, congestion charging and journey time information represent other promising application areas. An emerging trend in the market is the rise of ANPR as a commodity service delivered through the cloud. While high costs associated with the installation and operation of the technology have until now limited its use, the growing availability of cost effective cloud based APNR will help expand adoption. The study estimates automatic number plate recognition to be a multi-million dollar market worldwide, while more precise market-size and growth projections for a 14-year period will be made available during the 2nd stage of report preparation, and data analysis.
The research and analyses will be released shortly in the form of a comprehensive research report. The report by design, will attempt to provide exhaustive analysis, data, trends, market share, market size, statistics, forecasts and competitive intelligence. The report is modeled to offer precise and unbiased, actionable market insights including in-depth segmentation of market sub-sectors, demand estimates and projections and analysis of trends in each of the sectors, identification of leading players, and the competitive structure, among others.
The report outlines the growing importance of traffic surveillance and the opportunities hidden therein. Developed for ANPR hardware and software vendors, technology domain experts and consulting firms, among others, the report helps identify the biggest opportunities in this space and offers accurate latent demand forecasting that empowers quantitative decision making among existing market players and new entrants.
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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