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

  • RFID market will be worth over $70 billion over next five years
    April 17, 2012
    The market for RFID transponders, readers, software, and services will generate US$70.5 billion from 2012 to the end of 2017. The market was boosted by a growth of $900 million in 2011 and the market is expected to grow 20 per cent YOY per annum. Government, retail, and transportation and logistics have been identified as the most valuable sectors, accounting for 60 per cent of accumulated revenue over the next five years. “To date, the automotive sector has been a strong proponent of RFID, largely for immo
    Read More
  • 2013 set to be record year for transport infrastructure deals
    November 15, 2013
    Deal values for global transactions of transport infrastructure assets including airports, ports and road operations have risen steeply since the beginning of the year with 2013 poised to be a record year for transport infrastructure deals, according to an analysis by global advisory firm KPMG. The first half of 2013 saw global deals of infrastructure assets worth US$16.6 billion, by the end of the third quarter this figure had risen to US$23.5 billion, which already exceeds total annual deal values fo
    Read More
  • Smart cities ‘to ease traffic congestion, save 4.2 billion man-hours per year by 2021’
    June 30, 2016
    Juniper Research has found that smart traffic management and smart parking initiatives, will save some 4.2 billion man-hours annually by 2021 - equivalent to each city driver saving nearly an entire working day per year. Juniper found that while the ‘smart city’ remains a relatively young concept, many cities are beginning to recognise the need to improve in terms of competitiveness and quality of life. Increasing urban populations are creating pressure on city resources, driving the need for new and eff
    Read More
  • Remove 80 per cent of traffic lights to boost economy and road safety, says IEA report
    January 26, 2016
    In a new report, authors Martin Cassini and Richard Wellings of the UK Institute of Economic Affairs demonstrate what they say are the negative social and economic effects of the government’s traffic management strategy, and argue for policies that harness voluntary cooperation among road-users. Using case-studies from around Britain, in conjunction with evidence from successful schemes in both Holland and Germany, they estimate that approximately 80 per cent of traffic lights could be ripped out in the UK.
    Read More

Highlighted Content