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

Related Content

  • Smart fleet management market predicted to grow by eight per cent by 2022
    June 19, 2017
    According to MarketsandMarkets’ latest report, Smart Fleet Management Market, the smart fleet management market is projected to grow at a CAGR of eight per cent from 2017 to 2022, to reach US$462.48 billion by 2022.
    Read More
  • Cycling in London grows by ten per cent
    February 2, 2015
    London’s cycling revolution accelerated last year, with 2014 seeing new records for usage of the capital’s cycle hire scheme and overall cycling on the Transport for London (TfL) road network. Across the TfL road network, London’s main roads, cycling levels in quarter 3 of 2014/15 (14 September to 6 December) were ten per cent higher than in the same quarter the previous year and the highest since records began in 2000. It was the fifth record quarter in a row. By the end of 2014/15, TfL forecasts a 12 p
    Read More
  • Blind spot detection and adaptive cruise control systems markets forecast to 2019
    August 15, 2014
    The MarketsandMarkets report, Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market for Passenger Cars; by Geography - Trends and Forecasts 2014 - 2019, indicates that the BSD market will be worth US$2.8 billion and the ADCC market worth US$6.1 million by 2019. The report classifies and defines the automotive BSD and ACC systems market in terms of volume and value. It report highlights potential growth opportunities in the coming years as well as covers review of the market dr
    Read More
  • Decline in global shipments of PNDs
    March 22, 2012
    According to a new research report from the analyst firm Berg Insight, global shipments of personal navigation devices (PNDs) declined to about 33 million units in 2011, while the number of subscribers using a turn-by-turn navigation app or service on their handset doubled in 2011 and reached 130 million worldwide. The subscriber base is forecasted to grow at a compound annual growth rate (CAGR) of 21.9 per cent to reach 340 million users worldwide in 2016.
    Read More

Highlighted Content