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

  • Israel’s public transport infrastructure ‘lags behind developed countries’
    March 20, 2015
    According to a new report soon to be published by the Bank of Israel, the level of infrastructure in Israel remains lower in some areas—particularly in the area of metropolitan public transit—than in most developed countries. This report, according to an advance copy released this week, examines the level of available infrastructure and investments associated with the sector, as well as how the country fares in these arenas in comparison to other nations. It claims the volume of investment in urban and inte
    Read More
  • Vaisala: Weather data is vital for connected vehicles
    August 26, 2016
    Vaisala’s Dr Kevin Petty explains why the weather will continue to play a big part in road safety and traffic management in the smart cities of the future. The world is becoming increasingly connected. Thanks to advances in information and communications technology, the cities we live in are becoming ‘smart’, with everything from education to law enforcement managed by integrated tech solutions in a bid to improve quality of life.
    Read More
  • Is machine vision the future of enforcement?
    January 25, 2012
    Leading automated enforcement system suppliers talk about how they see machine vision technology affecting the sector in the coming years
    Read More
  • Smart parking key to sustainable urban mobility
    April 26, 2013
    Smart parking looks like a market poised to take off in the US. It could bring many benefits, not just for parking facility operators and their customers but also for society as a whole. Steven Bayless, senior director, telecommunications and telematics at ITS America, looks at some of the opportunities and challenges involved. Parking is an estimated $24-25 billion industry in the US and although highly fragmented, it is experiencing a growing trend towards consolidation and outsourcing of parking operatio
    Read More

Highlighted Content