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

  • Dutch strike public/private balance to introduce C-ITS services
    November 15, 2017
    Connected-ITS applications are due to appear on a nation-wide scale this summer, through the Netherlands’ Talking Traffic Partnership – if all goes to plan. Jon Masters reports. The Netherlands’ Talking Traffic Partnership (TTP) looks almost too good to be true: an artificial market set up and supported by national, regional and local government to accelerate deployment of Connected ITS (C-ITS) applications. If it does have any serious flaws, these are going to become apparent quite soon, because the first
    Read More
  • Iteris increases revenue in fiscal year 2015
    June 17, 2015
    Iteris has reported record revenue for fiscal year 2015 and significant progress on strategic initiatives. Total revenues for the year have increased by six per cent over 2014 to US$72.3 million, while total gross margin improved to 39 per cent. Revenue for roadway sensors revenues has increased by 15 per cent to US$36.4 million.
    Read More
  • Growth of outsourcing simplifies transportation operations
    June 11, 2012
    Xerox Chairman and CEO Ursula Burns will deliver the keynote address at the opening plenary of ITS America’s 2012 Annual Meeting in May. She talked to ITS International about the acquisition of ACS, its rebranding and the importance of the transportation sector to Xerox
    Read More
  • IBTTA Summit: satellite tolling is the future
    August 15, 2019
    IBTTA members met in Florida to consider the technological changes that will impact their businesses – including satellite tolling. Colin Sowman reports from Orlando Over decades, the technology employed in toll collection has been honed to near perfection – automatic number plate recognition (ANPR) and radio frequency identification (RFID) tags are easily within a couple of per cent of infallibility even at highway speeds. However, technical innovations beyond the confines of the toll road cannot b
    Read More

Highlighted Content