ANPR market predicted to expand at 13.5 per cent CAGR

A new Transparency Market Research report indicates that the global automatic number plate recognition (ANPR) market is estimated at US$415.5 million in 2013, and is expanding at a CAGR of 13.5 per cent between 2014 and 2020 and is predicted to reach US$1,023.2 million by 2020. The report, Automatic Number Plate Recognition (ANPR) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020, claims the major factor fuelling the demand for ANPR systems worldwide is the increasin
August 17, 2015 Read time: 2 mins
A new 7801 Transparency Market Research report indicates that the global automatic number plate recognition (ANPR) market is estimated at US$415.5 million in 2013, and is expanding at a CAGR of 13.5 per cent between 2014 and 2020 and is predicted to reach US$1,023.2 million by 2020.

The report, Automatic Number Plate Recognition (ANPR) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020, claims the major factor fuelling the demand for ANPR systems worldwide is the increasing penetration of ANPR in security and surveillance and traffic enforcement applications all around the world.

Additionally, the demand for ANPR systems in the commercial sector is poised to increase due to its rising installation in vehicle parking. On the other hand, volatility in the design of number plates and interference in privacy are amongst the few factors impeding the growth of this market.

The report segments the market for ANPR systems by application, end users and geography. On the basis of applications, the global ANPR market is segmented into vehicle parking, security and surveillance, toll enforcement, and traffic management, which includes red light control, congestion charging, and speed enforcement. Among these, in 2013, the application segment of security and surveillance led the worldwide market for ANPR systems on the basis of revenue and represented more than 25 per cent of the market.
Detection, Monitoring & Machine Vision

For more information on companies in this article

Related Content

  • Weigh in Motion gets smarter
    January 4, 2023
    Weigh in Motion technology is at the forefront of protecting road surfaces and helping enforcement activity – but could it also play a key role in the development of Smart Cities?
    Read More
  • Speeding ticket revenue up in France
    August 10, 2012
    Speeding tickets have brought US$398 million in revenue to the French government over the first six months of 2012. Antai, the national agency for automated processing of traffic violations expects US$830 - $860.5 million in revenue for the full year compared to $785.56 million in 2011. The number of speed cameras deployed throughout France is expected to reach 2,200 by late 2012. The expansion programme cost nearly $246 million in 2011 and it is believed that the budgetary policy will change after 2013. Ra
    Read More
  • Weigh in motion reduces road wear, increases toll revenue
    January 24, 2012
    IRD, Inc's Terry Bergan discusses future applications of weigh in motion technology. The application in recent years of Weigh In Motion (WIM) at tollgates has been driven by recognition of the fact that there is economic value, which can be levied, attached to Heavy Goods Vehicles (HGVs) which haul laden (and are therefore heavy) rather than empty. As wear and damage to road surfaces increases exponentially with weight, the targeting of HGVs in particular makes sense from both the economic and maintenance p
    Read More
  • Plug-in vehicles set to increase in popularity
    January 11, 2016
    The demand for plug-in vehicles (PIVs) has increased in the UK over the last number of years, says UK Construction Media. According to figures published by the Society of Motor Manufacturers and Traders (SMMT), the number of electric car registrations has increased substantially over the past 12 months. An average of 2,400 electrical vehicles was registered per month in 2015 compared with just 500 at the beginning of 2014. It is estimated that the total number of electrical vehicles on the UK roads total
    Read More

Highlighted Content