ANPR systems market ‘worth US$1.05 billion by 2020’

MarketsandMarkets latest report, Automatic Number Plate Recognition System Market by Type (Mobile, Fixed, Portable), Application (Traffic Management, Law Enforcement, Toll Collection, Parking Areas), & Geography - Analysis & Forecast to 2020 claims that the automatic number plate recognition (ANPR) market is estimated to reach US$1.05 billion by 2020, at a CAGR of 13.25 per cent. The market growth is attributed to the adoption of ANPR systems for traffic management and law enforcement applications around
December 4, 2015 Read time: 2 mins
6418 MarketsandMarkets latest report, Automatic Number Plate Recognition System Market by Type (Mobile, Fixed, Portable), Application (Traffic Management, Law Enforcement, Toll Collection, Parking Areas), & Geography - Analysis & Forecast to 2020 claims that the automatic number plate recognition (ANPR) market is estimated to reach US$1.05 billion by 2020, at a CAGR of 13.25 per cent.

The market growth is attributed to the adoption of ANPR systems for traffic management and law enforcement applications around the globe. Also the ANPR systems market will see demand from commercial applications such as toll collections and dedicated parking in the forecasted period.

Fixed ANPR systems held the major share of the market in 2014. This market is expected to grow at a CAGR of 13.54 per cent between 2015 and 2020. This growth is attributed to increasing demand from applications such as traffic management, toll collection, and parking areas.

The market for toll collection is estimated to grow at the highest CAGR of 17.46 per cent between 2015 and 2020. The rapid increase in the adoption of vehicles and increasing government regulations for implementation of the electronic toll collection system market is expected to drive the growth of this market.

The ANPR systems market in APAC is expected to grow rapidly as a solution to various issues such as traffic congestion, police enforcement, toll collection and parking which have occurred due to the rise in the urban population. In APAC, countries such as Japan and China have installed ANPR systems in various application areas such as toll collection, parking, and traffic management. The ANPR systems market in APAC is expected to grow at the highest CAGR of 18.06 per cent during the forecast period.

Detection, Monitoring & Machine Vision

For more information on companies in this article

Related Content

  • Public transport ITS in Europe ‘a billion-dollar market’
    July 27, 2015
    According to a new research report from analysts Berg Insight, the market value for intelligent transport systems (ITS) deployed in public transport operations in Europe was US$1.1 billion in 2014. Growing at a compound annual growth rate of 7.2 percent, the market is expected to reach US$1.6 billion by 2019. Berg Insight says that the European market for ITS for public transport is in a growth phase which will continue throughout the forecasted period. In most countries, the fluctuating economic climat
    Read More
  • US public transportation records passenger numbers highest for 58 years
    March 10, 2015
    Americans took 10.8 billion trips on public transportation in 2014, which is the highest annual public transit ridership number in 58 years, according to a report by the American Public Transportation Association (APTA). “In 2014, people took a record 10.8 billion trips on public transportation -- the highest annual ridership number in 58 years,” said Phillip Washington, APTA chair and CEO and general manager of the Regional Transportation District in Denver. “Some public transit systems experienced all-ti
    Read More
  • Eight out of eleven OEMs focusing on global mobility market
    May 9, 2013
    According to Frost and Sullivan, eight out of eleven major global original equipment manufacturers (OEMs) are focusing on the global mobility market, investing in a range of key solutions including products like electric vehicles (EVs), micro-mobility, and services like car-sharing and leasing. New mobility strategies of key global OEMs are gathering pace and the future of mobility is already here. The report, Competitive Benchmarking and Comparative Analysis of the Mobility Strategies of Key Global OEMs, o
    Read More
  • Europe will lead global hybrid and electric truck and bus market
    August 14, 2012
    Europe will emerge as the most competitive regional market for hybrid and electric medium-heavy trucks and buses, globally, according to Frost & Sullivan. This will be particularly true for the transit bus segment, which is expected to experience proliferation of competitors, both on the original equipment manufacturer (OEM) and supplier side. Strategic Analysis of the Medium- to Heavy-duty Hybrid and Electric Commercial Vehicle Market in EMEA Region, from Frost & Sullivan, estimates that nearly seven per c
    Read More

Highlighted Content