Automatic Number Plate Recognition (ANPR) System Market Zooms Towards Billion-Dollar Valuation: Estimated to Reach USD 6.22 Billion by 2030: Verified Market Research®
The "Global Automatic Number Plate Recognition (ANPR) System Market Size By Type (Mobile ANPR Systems, Portable ANPR Systems), By Component (ANPR Cameras, ANPR Software), By Application (Traffic Management, Law Enforcement), By Geographic Scope & Forecast, 2023-2030" report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Automatic Number Plate Recognition (ANPR) System Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY, N.J., June 6, 2023 /PRNewswire/ -- The Global Automatic Number Plate Recognition (ANPR) System Market is projected to grow at a CAGR of 10.2% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 2.28 Billion in 2021 and is expected to reach USD 6.22 Billion by the end of the forecast period.
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Browse in-depth TOC on "Automatic Number Plate Recognition (ANPR) System Market"
202 - Pages
126 – Tables
37 – Figures
ANPR Market Driven by Advanced Technology and Government Investments
The global market for Automatic Number Plate Recognition (ANPR) systems is witnessing remarkable growth, fueled by the widespread utilization of optical character recognition (OCR) technology. ANPR systems play a vital role in capturing and recording vehicle number plates from images, making them indispensable tools for law enforcement agencies in tasks such as toll collection and traffic monitoring. By harnessing Object Detection and Recognition (OCR) technology, ANPR systems deliver real-time insights into vehicles, including their license plate numbers. This automation of toll collection processes has significantly bolstered control over car theft, traffic management, and border crossings.
The ANPR market is experiencing substantial expansion, driven by the escalating adoption of video analytics technology for vehicle monitoring and substantial investments from governments worldwide. Furthermore, significant advancements in digital cameras, recognition devices, and processing technologies are contributing to the market's growth. ANPR systems have also found valuable applications in vehicle inventory management. Moreover, the thriving automotive industry is expected to further boost the demand for ANPR systems.
One of the key market drivers is the Fixed ANPR Systems segment, which is projected to witness significant growth. The segment has gained traction in recent years, primarily due to the high demand from traffic police personnel and defense forces. Fixed ANPR systems are extensively sought after by security forces as they can be customized for various applications, with individual equipment configurations suitable for multi-lane coverage.
In terms of regional dominance, North America is expected to hold the largest market share during the forecast period. This is primarily attributed to the rapid digitalization of traffic monitoring devices on highways, bridges, and tunnels across the region. The region's commitment to advanced technology adoption further solidifies its leading position in the ANPR market.
Key players in the ANPR market include renowned companies such as Robert Bosch GmbH, Siemens, ARH, Inc., Axis Communications AB, Kapsch Group, Genetec Inc., NDI Recognition Systems Ltd., VAXTOR TECHNOLOGIES, Tattile Srl, and Selex ES Inc. These industry leaders are actively involved in implementing key development strategies to strengthen their market presence. Their market shares and ranking analysis reflect their commitment to delivering exceptional ANPR solutions.
The ANPR market is poised for substantial growth, driven by technological advancements, government investments, and the increasing demand for enhanced traffic management and security measures. With ANPR systems revolutionizing toll collection processes and improving vehicle monitoring capabilities, the future looks promising for this dynamic industry.
Based on the research, Verified Market Research® has segmented the global Automatic Number Plate Recognition (ANPR) System Market into Type, Component, Application, And Geography.
- Automatic Number Plate Recognition (ANPR) System Market, by Type
- Mobile ANPR Systems
- Portable ANPR Systems
- Fixed ANPR Systems
- Automatic Number Plate Recognition (ANPR) System Market, by Component
- ANPR Cameras
- ANPR Software
- Triggers
- Frame Grabbers
- Others
- Automatic Number Plate Recognition (ANPR) System Market, by Application
- Traffic Management
- Law Enforcement
- Electronic Toll Collection
- Parking Management
- Access Control
- Automatic Number Plate Recognition (ANPR) System Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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