Automatic Number Plate Recognition (ANPR) Market: Introduction
The global automatic number plate recognition (ANPR) market is projected to reach a value of US$ 5 Bn by 2030. The automatic number plate recognition (ANPR) market is projected to expand at a CAGR of ~9% from 2020 to 2030. The expansion of the automatic number plate recognition (ANPR) market can be attributed to increasing adoption of ANPR systems for traffic enforcement and management, and rising demand for superior security in the public sector. Europe is anticipated to lead the global automatic number plate recognition (ANPR) market in terms of revenue, followed by North America during the forecast period.
Major Key Players of the Automatic Number Plate Recognition (ANPR) Market are:
ARH Inc., Beltech BV, Bosch Security System, COBAN Technologies, Inc., Digital Recognition Systems Ltd., Euro Car Parks Limited, and others.
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Increasing Adoption of Automatic Number Plate Recognition in Parking Management and Tolling Applications: Opportunity for Market
The automatic number plate recognition (ANPR) market has experienced double-digit growth in the past few years, owing to heavy penetration of ANPR systems in security, surveillance, and traffic enforcement applications. The application of ANPR systems in both government and commercial sectors for vehicle parking has increased in recent years, and this segment is expected to offer potential opportunities in the near future. The expansion of the vehicle parking segment is primarily witnessed in North America, where ANPR is widely used in parking management applications such as parking toll collection and vehicle security.
The adoption of the ANPR technology for vehicle parking management applications is also increasing due to extensive adoption of the technology in commercial spaces across Europe, Asia Pacific, and the Middle East.
Global Automatic Number Plate Recognition (ANPR) Market: Segmentation
Automatic Number Plate Recognition (ANPR) Market, by Component
- Hardware
- ANPR Cameras
- Frame Grabbers
- Others (Illuminators, Sensors, etc.)
- Software
- Standalone ANPR Software
- Standalone Make & Model Recognition (MMR) Software
- Integrated Software
Automatic Number Plate Recognition (ANPR) Market, by Application
- Security & Surveillance
- Vehicle Parking
- Traffic Management
- Toll Enforcement
- Others
Automatic Number Plate Recognition (ANPR) Market, by Type
- Static ANPR Systems
- Portable ANPR Systems
Automatic Number Plate Recognition (ANPR) Market, by End User
- Government
- Homeland Security
- Traffic Department
- Defense
- Others
- Commercial
- Dedicated Car Parks
- Entertainment & Recreation Facilities
- Others
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Automatic Number Plate Recognition (ANPR) Market: Overview
- The global automatic number plate recognition (ANPR) market is expected to expand at a CAGR of ~9% during the forecast period, primarily driven by increasing adoption of ANPR systems for traffic enforcement and management, and rising demand for superior security in the public sector
- The automatic number plate recognition (ANPR) market is projected to be cross value of US$ 2.1 Bn in 2020 and reach US$ 5 Bn by 2030
- In terms of component, the hardware segment is anticipated to account for a notable share as compared to other components of the automatic number plate recognition (ANPR) market
- In terms of end user, the government segment is set to dominate the automatic number plate recognition (ANPR) market during the forecast period, whereas the commercial segment is likely to be the fastest growing segment during the forecast period
- Europe remains a prominent market for automatic number plate recognition (ANPR) globally, and the market in the region is expected to be valued at US$ 755.8 Mn by the end of 2020
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