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

  • Widest bridge in the world Port Mann open in Vancouver
    April 25, 2013
    Port Mann Bridge, designed to growing regional congestion and improve the movement of people, goods and transit throughout greater Vancouver, is now open for business. The widest bridge in the world, the Port Mann Bridge located in the metro Vancouver area, in British Columbia, Canada, features an Open Road Tolling (ORT) system, also called All Electronic Tolling (AET), which will ultimately cross all 10 lanes of traffic.
    Read More
  • Iteris reports growth in sensors and transportation systems
    February 6, 2015
    Intelligent traffic management systems supplier Iteris has reported financial results for its fiscal third quarter ended 31 December 2014, and the sixth consecutive quarter of double-digit year-over-year growth in roadway sensors revenues. Total revenues in the third quarter of fiscal 2015 increased six per cent to US$17.5 million compared to US$16.5 million in the same quarter a year ago. The increase was primarily driven by a ten per cent increase in roadway sensors and a four per cent increase in transp
    Read More
  • Siemens influences congestion reduction
    March 12, 2021
    When it comes to reducing congestion, even relatively small interventions can have significant and positive knock-on effects, suggests Steve O’Sullivan of Siemens Mobility
    Read More
  • Queensland to deploy cameras to detect unregistered vehicles
    July 30, 2014
    Queensland, Australia, is to deploy fixed and mobile automatic number plate recognition (ANPR) cameras to catch thousands of unregistered cars on the state’s roads. From October, eight fixed and fifteen mobile cameras will scan about 600,000 registration plates every week. The cameras will record thousands of plates a day and send the information back to a centralised database for cross-referencing with registration records. Owners of unregistered plates will automatically receive fines in the mail. P
    Read More

Highlighted Content