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 technology aids overweight vehicle reduction
    March 16, 2012
    Innovative use of truck weighing technology is growing as strategies aimed at reducing numbers of overweight vehicles gather momentum. Business is generally good at present in the truck weighing sector in general, and weigh-in-motion (WIM) technology in particular, according to leading suppliers of systems serving to help reduce overloading. Strategies aimed at deterring excessive truck loading – cutting damage to road networks and risks to safety – vary considerably worldwide, with some governments draggin
    Read More
  • Sophisticated vehicle classification system
    January 24, 2012
    Stemmer Imaging is launching a sophisticated vehicle classification system that allows both the class of the vehicle, such as motorcycle, car, taxi, light van, bus or truck, to be identified as well as the vehicle make, model and colour and can be linked with ANPR systems. It utilises the Manto pattern recognition tool, which is part of the company's Common Vision Blox hardware-independent machine vision toolkit. Potential applications for the systems include congestion charge monitoring and other road toll
    Read More
  • Connected cars ‘to represent 20% of the global car market by 2019’
    June 4, 2015
    Hi-tech analysts Juniper Research are forecasting that the telematics sector will continue to outperform all other M2M markets over the next five years, in revenue terms, with one in five passenger vehicles connected globally by 2019. Smartphone-based models have become the key disruptor for M2M, as healthcare, consumer electronics and retail continue to evolve. Juniper Research forecasts that the M2M sector will generate service revenues of over $40 billion globally by 2019 - doubling the size of today'
    Read More
  • Siemens influences congestion reduction
    March 12, 2021
    When it comes to reducing congestion, even relatively small interventions can have significant and positive knock-on effects, suggests Steve O’Sullivan of Siemens Mobility
    Read More

Highlighted Content