Automatic Number Plate Recognition System Market Segmentation:
Application Segment Analysis
The traffic management segment is attributed to holding the largest share by the end of 2035, due to the rising concern of traffic congestion over the world which requires efficient systems such as automatic number plate recognition (ANPR) system. Recently, it was declared that in 2021, an American driver lost almost 36 hours owing to congestion on a daily average. This figure has increased by 10 years from the previous year. Moreover, the rising number of deaths in traffic crashes coupled with increased cases of traffic violations and rash driving cases is also anticipated to bring lucrative growth opportunities for the adoption of automatic number plate recognition (ANPR) systems in vehicles to efficiently mitigate traffic congestion in the next few years. A report published by the Ministry of Road Transport and Highways in 2022 stated that approximately 1.5 million people die on Indian roads owing to accidents annually.
Software Segment Analysis
The ANPR cameras segment is projected to hold the most significant share by the end of 2035. As automatic number plate recognition (ANPR) systems are integrated with a technology capable of reading vehicle number plates, quickly and automatically, without any human intervention through using photo or video footage from its cameras. The addition of cameras in vehicles for varied purposes is also estimated to increase the utilization rate of ANPR cameras.
Our in-depth analysis of the global market includes the following segments:
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