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

  • Business Secretary opens UK centre for smart transport technology
    June 12, 2014
    UK Business Secretary Vince Cable today opened a new innovation centre for smart transport technology that will transform the movement of people and goods around the world, generating up to £90 billion per year for the UK by 2025. Based in Milton Keynes, the Transport Systems Catapult’s ‘Imovation Centre’ will help make journeys more seamless, smart, and efficient. It will support business growth in this emerging market, positioning the UK as a global leader in Intelligent Mobility products and services
    Read More
  • Singapore plans changes to transit system
    June 13, 2018
    Singapore has the third-highest population density in the world and the numbers are continuing to grow. The government knows that transit is vital: David Crawford investigates the city state’s Smart Nation strategy. Transport is the most important of the five domains identified as the pillars of Singapore's far-reaching Smart Nation strategy, launched in November 2014 by prime minister Lee Hsien Loong with the aim of reaching fulfilment by 2024. Roads account for 12% of the island republic's 719km2 land ar
    Read More
  • Positive outlook for Q-Free
    August 15, 2013
    Q-Free reported revenue of US$25 million for the second quarter 2013, an increase of 29 per cent from the same quarter last year. Operating profit (EBIT) improved to a positive US$51,000 from an operating loss of US$3.8 million in the same period last year. Loss before tax was reduced to US$391,000 from a loss of US$3.9 in the second quarter 2012. The improved earnings mainly reflect changes in the revenue composition, with higher product and service and maintenance revenue.
    Read More
  • Put ‘people, not cars' first in transport systems, says UN Environment chief
    October 21, 2016
    Lack of investment in safe walking and cycling infrastructure not only contributes to the deaths of millions of people in traffic accidents on unsafe roads and poorly designed roadways, but also overlooks a great opportunity to boost the fight against climate change, according to a new UN Environment report. In Global Outlook on Walking and Cycling, the UN Environment Programme (UNEP) claims that greater investment in such infrastructure could help save millions of lives and reduce emissions of global w
    Read More

Highlighted Content